Trading 212 withdraw - Everything you need to know

If you’re a new user on the popular Trading 212 commission-free forex trading app, one of the first things you’ll need to know is how to withdraw your profits. How easy is it, what withdrawal methods can you choose from, and are there any minimum withdrawal limits?

We’ll cover all of this and more in our guide below. Plus, we’ll even throw in a handy hint to save money when withdrawing profits in other currencies using Wise.

Open a Wise multi-currency account and you can both fund your Trading 212 and withdraw to it, receiving payments in other currencies without those expensive conversion fees.

But more on this later. Let’s start with the basic steps for withdrawing your profits from Trading 212.

How to withdraw from Trading 212 - a step-by-step guide

There are a few available withdrawal methods offered by the app. These include all the main deposit methods, such as bank transfer, debit card or credit card, PayPal, Skrill, Apple Pay, Google Pay and Giropay¹.

Some payment methods are only available for certain Trading 212 services - for example, PayPal is only accepted when using Trading 212 CFD.

For security reasons, Trading 212 will only send withdrawn funds to the same payment method you used to fund your account². If you use multiple payment methods, withdrawals will be sent to your card by default. If you use multiple cards, the app will pick the most appropriate one to send the withdrawal payment to.

Ready to withdraw your money? Simply follow these steps:

1. Sign into your account on the Trading 212 app
2. Tap the three lines icon at the bottom of the screen, the furthest icon to the right
3. Select ‘Manage funds’ and then ‘Withdraw funds’
4. Select the Trading 212 account you’d like to withdraw from - so Trading 212 CFD, Invest or ISA
5. Type in the withdrawal amount
6. Confirm your password to complete the withdrawal

You’ll need to have a verified payment account in order to withdraw the funds. For example, if you’ve only used a debit card to fund your account, only withdrawal through that debit card will be available for you. If you want to withdraw through bank transfer, you’ll need to verify the account by providing your bank details first and use it to fund your Trading 212 account.

And that’s pretty much it. All you need to do now is wait for the money to arrive in your bank account.

How long do withdrawals take?³

The time it takes for your withdrawal to arrive depends on the payment method used. Remember - it’s the payment method you used to deposit funds in your account.

Trading 212 takes up to three business days to process withdrawal requests. Once their side of things is complete, you can then expect to receive your payment within a further three business days for bank transfers, credit/debit cards and Apple/Google Pay.

If the withdrawal is being sent to your PayPal or Skrill account, it should arrive in under 15 minutes.

Trading 212 minimum withdrawal limits

There are a few withdrawal limits on the app, but as they’re so small, they’re not really anything to worry about.

Here’s a quick overview of the withdrawal limits for different trading categories at Trading 212⁴:

• £1 with Trading 212 Invest
• £1 with Trading 212 ISA
• £10 with Trading 212 CFD.

Fees for Trading 212 withdrawals

The app does charge fees for some things, such as depositing more than £2,000 using a credit or debit card⁴.

But the good news is that there’s no fee for withdrawing profits⁴, for either Trading 212 CFD, Invest or ISA. It doesn’t matter how much or little you choose to withdraw (as long as you exceed the withdrawal limits) - it’s always free.

Along with the commission-free trading opportunities, this is one of the reasons the app is so popular.

Ready to withdraw from Trading 212? Save money with Wise

Withdrawing trading profits from Trading 212 is free, and should be relatively straightforward. But if you’re withdrawing profits in a currency other than GBP, you could be charged a currency conversion fee.

Luckily, it’s possible to reduce currency conversion fees with Wise.

Open a multi-currency Wise accountand you can get access to local Wise bank details, for the UK, US, Australia and many other countries. This means you can receive payments like a local, without the need for any currency conversion.

You can use these local details for deposits and withdrawals with apps such as Trading 212. This could help you save a small fortune on currency conversion.

Once your trading profits land in your Wise account, you can hold them for future deposits, or convert to GBP and withdraw to your bank for just a tiny fee. Best of all, conversions will be done at the real, mid-market exchange rate.

Alternatively, you can spend in one of 200 countries worldwide using your linked Wise debit Mastercard.

The Trading 212 app is designed to be super user-friendly, and this includes withdrawals. You should be able to withdraw your trading profits in just a few taps on the app, and receive the money in a few days.

Before using any trading platform, just make sure you understand and are 100% comfortable with the risks involved. Good luck!

Sources used for this article:

Sources checked on 25-March-2021.