Withdrawals

If you’d like to initiate a withdrawal from your Tradesk brokerage account to your linked bank account, follow the below steps via the Tradesk app:

1. Select the Me page (person icon), then click the 3 bars at the upper right hand corner
2. Tap Withdraw. Your default linked bank account will be displayed at the top
3. Enter your desired withdrawal amount, ensuring sufficient funds are available
4. Tap Review, and then proceed in order to submit your withdrawal request

Once you have submitted your withdrawal request, please allow 3-5 business days for processing.

Keep in mind:
• Withdrawal requests can only be processed to a linked bank account with the same name as the securities account. If the account registrations do not match, this may cause issues with processing your request.
• Withdrawals requests can only be processed on business days. Stock market holidays, bank holidays, and weekends would not be considered business days.
• The Withdraw menu is only supported via the app at this time. This functionality is coming soon via the web version.

There are several factors that can affect how much cash is available to withdraw from your account. These include:
• Trade settlement timelines
• Pending buys or sells of securities
• Unposted fees or margin interest
• Withdrawal holds or restrictions
Because of these variables, your available cash may not update in real time.

For example, after selling a stock, the trade will need to settle before you can withdraw funds. Different markets may have different settlement timeframes. Hong Kong and U.S. equities and options are currently implementing a T+1 settlement system. This is commonly referred to as regular way settlement. After a trade subject to T+1 settlement, your proceeds would become available to withdraw on the 2nd day.

Pending orders can also affect the amount of cash available for withdrawal. If you have orders pending, please make sure there is sufficient cash to cover both your pending orders and your desired withdrawal amount.

You may also have fees or margin interest pending posting to your account which can affect your available cash for withdrawal. For any questions regarding your cash available, please contact our team.

Cancelling a withdrawal

If you’d like to cancel your withdrawal request, please email our team at support@tradesk.co and we can assist with cancelling the request provided it is not already in process.

If the cutoff time has already passed, the withdrawal is already processing and we may not be able to cancel it for you. In this case, you will need to wait for the funds to transfer to your bank and re-initiate a deposit back to your Tradesk brokerage account.

If you choose to withdraw funds via ACH transfer, there are no withdrawal fees charged by Tradesk. However, please check if there are any additional fees charged by your bank.

If you choose to withdraw funds via outgoing wire transfer, our clearing firm charges $30 for an outgoing domestic wire, and $50 for an outgoing international wire. 

Please note that all bank charges will be deducted from the withdrawal transfer amount.

Your cash available to withdraw may be less than your available cash balance for the following potential reasons:

Withdrawal Holding Period

If you deposit funds via ACH, that deposit will need to remain in your account for a minimum of 7 business days. If you deposit funds via wire transfer, this withdrawal holding period does not apply.

Settlement Period

Funds will not become available to withdraw before they have fully settled. Stock, ETF, and options trades currently settle on a T+1 basis. 

Required Margin Maintenance

NYSE/FINRA rules require investors to maintain a certain minimum amount of equity in their margin account at all times.

Pending Orders & Frozen Funds

The funds used towards pending open orders may be locked in your trading account and would not be available for withdrawal.

Currently, we only offer domestic check distribution via overnight mail. There is a $55 fee charged by our clearing firm per overnight mail domestic check distribution request.

Incoming ACH or check transfers can be reversed for multiple reasons, such as insufficient funds, frozen bank accounts, transaction limits, or mismatches in account names.

To avoid transfer reversals, make sure that your bank account maintains sufficient funds to cover your deposit until you receive confirmation that the deposit has been completed. You can also check with your bank representative to make sure your bank account supports ACH transfers, is unfrozen, and doesn’t have any transaction limits.

If an ACH or check transfer is returned, there is a fee incurred of $30 per transaction.

For any questions regarding an incurred reversal, reach out to your bank or bank representative for more information.