Which Brokers Have Instant Withdrawal?
Are there are any investment brokers out there that have instant withdrawal features on their trading platforms? What is the reason for this? Read and find out more.
Published June 12, 2021.
How do you define instant withdrawal? If you are seeking immediate withdrawals, it will be challenging to find one in North America.
Unfortunately, the short answer is that there are no U.S. or Canadian independent trading platforms that offer instant withdrawals.
Is There Another Solution?
If you want to get your money instantly, you will need to sign up for your primary bank's investment hub. Because your bank account and your brokerage account are synchronized, you can transfer back and forth without any headaches or wait times.
That said, if you are using something like Robinhood, Interactive Brokers, or 212 Trading, it will take either several hours or a couple of business days to withdraw your money.
A quick search will show that a company called Zerodha, an India-based stock trading platform maintains an instant withdrawal feature.
So far, nothing in the U.S. or Canada.
Why Is There No Instant Withdrawal?
You might be wondering why there is no instant withdrawal option.
For one thing, these companies do not want to experience a run on these platforms. Whether it is a huge rally in a stock (think: GameStop) or rumors that the trading hub is shutting down, they do not want a massive outflow of money.
That said, you are beginning to see a growing number of outlets, such as Coinbase, allowing their users to withdraw a small amount, typically less than $500, in a much faster period.
Put simply, you might need to be patient.