A broker based in the United States, Trade Station deals primarily in stocks, futures, options, and cryptocurrencies. It offers a lot of flexibility when it comes to its pricing structure.
Any U.S. citizen can use Trade Station’s $0 commission plans, making it one of its most appealing features. Additionally, it has one of the most comprehensive and robust trading platforms in the country and some excellent educational resources both for beginners and professionals.
However, there are a few problems with this broker, such as its lack of commodities, forex, indices, or CFDs, which significantly limits the assets you can trade. The account must also meet minimum activity requirements, or else there is an inactivity fee of $50 and a monthly service fee of $149, 95.
The trader platform and educational resources on offer by Trade Station make it stand out from many other competitors, but it lacks the range of assets available to trade. A separate learning process for its desktop platform is also required because it isn’t beginner-friendly.
In addition to all that, Trade Station is one of the most reputable and robust options available to investors looking for U.S. stocks, ETFs, futures, and cryptos. So why not give it a shot?
Advantages of Trade Station
- Two of the essential legal entities in the United States regulate it, the SEC and FINRA.
- The company offers one of the best mobile and web platforms among all brokers in the United States.
- There are a few different types of stock, ETFs, options, and futures to choose from.
- Features both beginner-friendly and professional-oriented educational content.
- New accounts can be set up in just one day using an utterly digital signup process.
- The program has one of the largest databases of U.S. markets with no limits on its demo account.
- For U.S. clients, it offers a commission-free plan.
- The platform lets users choose between 14 different account modalities, including Individual, IRA, and Entity accounts.
- You can test your strategies and maximize your earnings using the Desktop platform.
- Four deposit and withdrawal methods are available, including wire transfers, bank transfers, checks, and transfers to other brokerage accounts.
Overview: Trade Station withdrawal
Suppose you’ve been making profitable trading transactions or need access to your funds for any reason. In that case, you may not be able to enjoy the fruits of your trading activity if you’ve been using an online broker for short-term trading or long-term investments. So your first step will be to withdraw funds from your broker account.
It sounds simple enough, but brokers can differ considerably in terms of how they offer withdrawals (such as through bank transfers or credit cards), as well as in terms of speeds and convenience. However, some brokers and some leaves may charge a fee, even if withdrawals are free in most cases.
Trade Station’s withdrawal fees and options compare favorably to some of its closest competitors, so let’s look at how Trade Station performs in this area before diving into the details.
Withdrawal options for Trade Station
The most common withdrawal method is bank transfer, available at most brokers, including Trade Station.
It does, however, offer only bank transfer withdrawals, putting it at a slight disadvantage over brokers providing credit/debit card withdrawals or electronic wallet withdrawals.
The speed of withdrawal is also essential. Unlike several deposit options, withdrawals are rarely instant. Frequently, it takes at least one business day for your money to arrive, but it can even take several days.
At Trade Station, we tested withdrawals, and it took one business day. That is simply awesome! The following steps must be followed to withdraw money from Trade Station:
- Access your account by logging in
- Select the appropriate option from the drop-down menu
- If there are multiple options for withdrawal, choose the method and account you wish to withdraw from.
- Enter a brief description of why you’d like to start the requested amount if prompted.
- Requests should be submitted.
It is important to note that you can only withdraw money from accounts in your name.
Withdrawal fees for Trade Station
Generally, you don’t have to pay for deposits into a brokerage account, but the same isn’t always valid for withdrawals. In addition, international bank transfers and wire transfers can sometimes incur high fees, so be aware of whether this applies to you before withdrawing money.
Good news: with Trade Station, you can withdraw your money without paying a fee. See the table below for details and exceptions and how Trade Station compares with some of its immediate competitors.
Frequently asked questions
The following steps must be followed to withdraw money from Trade Station:
• Upon logging in to your account, select ‘Withdrawal’ or ‘Withdraw funds’ from the right menu.
• Select the withdrawal method, understanding, and method of withdrawal (if more than one is available).
Six business days after Deposit, funds can be withdrawn.
Furthermore, Trade Station maintains sufficient funds to be segregated from its proprietary funds. Your equities accounts, as well, are fully protected by SIPC insurance. SIPC covers your equity accounts up to $500,000 in the case of a claim.
Click the My Account link at the top right on the Trade Station Crypto application. On the Funding page, select the method of funding you prefer: Smart Transfer, Wire Transfer, Check Deposit, and Electronic Transfer (ACAT). Then, follow the instructions to fund your account.
It is possible to transfer your stocks from your Robinhood account to another broker. Contact your other broker and ask them to initiate the transfer to begin the process. Your clearing partner will then assist in transferring your stocks.
With your signed account documents and a check sent by U.S. mail, overnight or certified mail, you can transfer money electronically from one of your existing bank accounts or brokerage accounts to your Trade Station account.
Trade Station provides four types of IRA accounts: traditional IRAs, Roth IRAs, Rollover IRAs, SEP IRAs, and Simple IRAs.
The right type of account for your needs. This is why we offer a wide range of reports to suit the needs of individual traders and investors, including Individual, Joint, IRA, Entity, Institutional, and Custodial accounts.
The BitGo warm and cold storage solutions we use include multi-signature wallet structures. Additionally, BitGo applies its operational controls, risk management, and cyber-security practices to manage the transfers of assets between warm and cold storage.
You can only deposit cryptocurrency, not cash (fiat currency), to fund your account.
There are no fees associated with Trade Station withdrawals, but you can only make them via bank transfer; other convenient options like withdrawals to credit/debit cards or electronic wallets are missing.
Visit our broker comparison tool to see how Trade Station ranks against the rest of the market for withdrawal fees and options