How to withdraw money on CMC Markets – Withdrawal tutorial

CMC Markets Homepage
CMC Markets homepage

Whether you are using an online forex trading platform for long-term or short-term investments, there will come a time when you want to enjoy the profits of your forex trading activities. And for that, you will have to withdraw the funds from the trading account. 

Well, it may sound very simple. But remember that the fund’s withdrawal process will vary from one online broker to another. Besides, the speed and convenience of withdrawal will also vary. For example, some may take less time, but some can take days.

While some brokers offer a cost-free withdrawal facility, some may charge different fees for that. Are you using CMC Markets for forex trading and worried about its withdrawal facility or process? Well, this detailed review on CMC Markets withdrawal can help you with this. 

A perfect platform with easy withdrawal processes

CMC Markets is a globally recognized and regulated online broker with clients from Australia, the UK, and more than 70 countries. The platform offers more than 11,000 CFDs- Contract for Differences and a spread betting facility. 

You can trust them as CMC Markets is regulated by the FCA – Financial Conduct Authority and MAS- Monetary Authority of Singapore. You can make profits through various trading instruments like shares, forex pairs, commodities, indices, leverage, and more. 

You need to set up an ANZ Cash Account with CMC Markets to start trading. This account is operated by CMC Markets but created through Australia and New Zealand Banking Group.

It is the account that you will use for your trading and settlement. Using this, you can trade online using various CMC Markets platforms. Besides, it allows you to check and download the transactions summary, and you can also transfer the funds from it to your bank account. 

You may note that the traders don’t have to pay any withdrawal charges to raise a withdrawal request. And there is no such minimum amount limit to follow. 

The CMC Markets website offers detailed instructions on how to withdraw money.
The CMC Markets website offers detailed instructions on how to withdraw money.

Different ways to withdraw your money 

CMC Markets provides its customers with a fast executing CMC Markets withdrawal process. It is something very rare in the forex trading industry. The funds’ withdrawal requests would be processed within 24 hours. 

The online broker offers different types of payment methods, for example, credit cards, debit cards, electronic wallets, and bank transfers. However, you may note that the Spread Betting Account holders can’t withdraw funds through debit or credit cards. 

Withdrawing funds by debit card or credit card

The total amount you are withdrawing to your debit card should not be more than the amount deposited using that particular card. In addition, the site says any fund remaining in the trading account after the withdrawal can be withdrawn using any alternative methods, for example, through bank wire transfers. 

It can take one to four working days to get the fund. So the broker always tries to process the requests as soon as possible. But some factors can affect the processing time. 

  • The requests for withdrawals to debit cards can only be processed after all the debit card deposits have cleared. And this may take up to three days. 
  • The debit card service providers may take more time to complete the requests. 
  • CMC Markets doesn’t charge any fees for this withdrawal method. 

Withdrawing funds by bank transfer

Have you deposited money through check or bank transfer? If yes, you can submit a withdrawal request through a bank transfer. The broker has waived the withdrawal fees. You can withdraw the same account you used to deposit the funds. 

What if the bank account is not active? You don’t have to worry about that as the broker allows the users to withdraw the funds to an alternate active bank account. However, before that, you will have to create a new profile using the new bank account details. 

You can withdraw funds from your trading account online by clicking on the Payment option and then choosing the CMC Markets withdrawal option. Next, enter the amount and click on the Continue option. You can also use Live help or get in touch with the client management team for help. 

It may be noted that money can be withdrawn up to the value of the account’s total balance, minus the margin value. Therefore, while requesting a fund withdrawal, ensure that enough funds remain in the account. 

Note:

The above details reflect the standard withdrawal processing times for CMC Markets and its processing service providers or financial institutions to complete the transactions. Your debit card or credit card provider and the bank may take more time to complete the withdrawal.


General steps to withdraw money

  • First, you need to log into your CMC Markets trading account. 
  • Now, from the appropriate menu, choose Withdraw funds or Withdraw option. 
  • Now choose an account to withdraw the funds to or the withdrawal method. 
  • Then you need to enter the withdrawal amount and a short description stating the reasons behind this. 
  • After that, submit the withdrawal request. 

CMC Markets withdrawal specifications

Well, here are some withdrawal specifications for the available funding methods. 

PayPal

PayPal Logo

For this, the maximum withdrawal limit is £10,000. And the entire process may take one to two days. 

Credit or Debit card

Credit Card

Under this, you can withdraw up to £40,000. However, this method may take around five business days.

Bank or wire transfer

Bank Transfer

It doesn’t have a maximum withdrawal limit. In the case of a domestic transfer, the transaction may take up to 2 working days. However, it may take up to 5 business days for international fund transfers.  

CMC Markets doesn’t ask for any fees for this. However, for express international funds transfer, the traders may need to pay £15. 

You can create requests under the Funding section on mobile apps and desktop platforms. You can see the following things in your account: 

  • Withdrawal Limit- The total amount you are allowed to withdraw to your desired payment destination. 
  • Available Fund- The total funds that you withdraw collectively from your account. 

Withdrawing funds from ANZ cash account

The broker allows the traders to easily withdraw their funds or profits from their ANZ Cash Account to any external bank account. To complete the process, you will have to follow the below-listed steps. 

  • Choose the Transfer Funds option available under the Account menu.
  • Put the amount you want to withdraw from your ANZ Cash account. 
  • Now, put your trading PIN and click on the Request Transfer option to begin the process. 

The available balance in your trading account will be updated when the transfer request is made, and the broker will notify you about the process through a confirmation email. Sometimes, the broker may contact you to evaluate and confirm a few details. 

If the traders wish to link any external bank accounts to their ANZ Cash account, they do that. They can visit the Transfer Funds section and use the External Bank Account Setup option.

Carefully enter all the required account details, like bank account number, BSB, name, and more. Then you need to enter the trading PIN and click on the Submit option to complete the process. 

If you are linking a bank account for the non-individual accounts, for example, joint account, company, or trust account, that will provide you with a pre-filled form. All the account holders should sign the form. 

Once the form is properly signed, you can send that to CMC Markets by scanning and uploading the form. First, you need to visit the Support menu and choose the File Uploads options. You can also send that to the broker through email. 

Note:

As per the broker, any withdrawal requests made before 11:00 am will be cleared on the same day. If you make a withdrawal request after 11:00 am, that will be processed the next working day. The entire process may take around two to three working days. 


Payment methods

Payment options offered by a forex trading broker are one of the most important factors that can influence the overall popularity of the platform. So, every broker focuses on that.  A perfect payment gateway works as a bridge between the users and the trading platform.

To offer the traders a hassle-free way to complete their payments, the broker provides them with different easy-to-use payment methods. Using these methods, within a few simple clicks, the users can fund their trading account and withdraw their money. 

The broker understands the busy schedule of the traders and tries to lift as much burden off the shoulders as they can. And one of the perfect ways they do it is by offering multiple deposit options. 

One can use debit cards or credit cards or opt for a wire transfer to enjoy a same-day funds transfer experience. Furthermore, they can also use different e-wallets, such as Neteller or Skrill, to complete the transactions. 

Fees that can occur

When it comes to withdrawing money from your trading account, you should always consider the Charges or fees applicable to it. While depositing funds to a trading account is free in some cases, this is not always true in the case of withdrawals.

However, some online brokers like CMC Markets offer charges-free withdrawals to the traders. This facility has attracted a lot of traders to use this platform. But sometimes, based on the transaction types, CMC Markets may require you to pay a certain amount of withdrawal fees. 

Most international wire transfers or bank transfers can attract high charges. So, while doing the transactions, check properly if this will apply to your CMC Markets withdrawal. 

CMC Markets withdrawal doesn’t include any fees in case of a domestic bank withdrawal. Besides, CMC Markets also offers a free withdrawal facility for electronic wallets and debit or credit card withdrawals. 

However, if you make an international bank withdrawal, CMC Markets may charge up to USD 25 withdrawal fees. So, it is always advisable to proceed with a withdrawal when you have a sufficient amount to avoid paying more fees. 

Is it good to keep the funds with CMC for a long time? 

CMC Markets regulation
CMC Markets regulation

When searching for a forex trading broker, it is crucial to understand how your profits or funds will remain protected and what types of rights you can enjoy in case of any insolvency or bankruptcy. 

The traders can keep their money in their trading account as long as they want. CMC Markets offers segregated accounts to the clients to keep their money protected. As a result, the money will remain completely safe in the case of insolvency or bankruptcy.

The official site says the clients’ money is held separately from CMC Markets’ funds. Under the trust, insolvency, and property law, the money will remain protected even if the company fails.  

There is another important thing that you can consider. The users will not lose more money than the deposited amount. So, the chances of dealing with a negative balance are very low. With CMC Markets, you will enjoy a Negative Balance Protection feature.  

In the United Kingdom and Canada, you can enjoy a protection cover of up to USD 1,00,000 and £85.000. So, you don’t have to worry about your fund. However, if you want to withdraw the funds without any problems, follow the steps mentioned above. 

Learn more about the platform and trading for a successful trading experience 

CMC Markets numbers
CMC Markets numbers

If you are using CMC Markets for the first time, there is no need to worry as the broker offers different types of educational material in the form of videos and text. Apart from the trading lesions, it also provides the users with tutorials. 

You can use its demo account, tutorial videos, trading guides, articles, videos, and online webinars to explore more about this platform. While learning different trading strategies, you will also understand the methods of withdrawing and depositing funds to your account. 

Conclusion

CMC Markets is a popular broker regulated by the world’s top-level regulatory organizations. It is one of the best CFD and forex brokers you can trust. 

The above review on CMC Markets withdrawal has proved that withdrawing funds on CMC Markets is very easy. The official site’s withdrawal transactions on this platform are carried out through automated and secure payment gateways.

As the gateways are functional 24×7, you can raise a funds withdrawal request anytime you want. Once you verify the desired amount you want to withdraw, you will be redirected to the preferred terminal.

Once the process is done, the money will be deposited in your bank account within a few days. So the minimum amount required to raise a withdrawal request is very low. And the process is free of charge.  

As the broker offers multiple options, the traders can easily access their funds or profits. The duration may vary based on the modes. If you face any problems during the process, taking the help of a customer care executive will help you a lot. 

CMC Markets is a good and regulated broker that offers attractive conditions and fast payout.
CMC Markets is a good and regulated broker that offers attractive conditions and fast payout.


FAQ – The most asked questions about withdraw money on CMC Markets :

How long will my withdrawal be pending on CMC markets?

The best thing about the CMC Markets withdrawal is that all the withdrawal requests are processed on the same working days. And the funds are sent to the traders’ bank accounts within 24 to 48 hours. 

However, it may take time to reflect on the funds in your bank account. CMC Markets generally process the requests made on holidays in the next working days. If you have placed a request, but it takes more time to reflect on the bank account, get in touch with their customer support executives. 

How long does it take to withdraw money from CMC markets?

Well, CMC Markets offers a fast money withdrawal process, and the withdrawal requests are processed immediately by the broker. However, sometimes, based on the transaction types, the process may take time.

In general, it takes around 2 to 3 days to get the money into your bank account. But in some cases, it can take up to 14 days. If you are facing some issues with your withdrawal request, you should contact the customer support team of CMC Markets to know the current status.  

Why is the destination limit showing £0 when withdrawing funds to the card?

Such issues can arise due to various reasons. For example, if you have not sent money back to the registered credit or debit card for the last 12 months, then you can’t use the card to withdraw your funds. Besides, this problem can arise if you have an expired card. 
So, check these details before requesting a withdrawal. Well, if you need any help in withdrawing money from your CMC Markets trading account, then get in touch with their customer care executives now. 

Is it necessary to set up your bank details?

Yes, if you want to transfer money or profits made by trading from CMC Markets’ ANZ Cash account to the bank account, you will have to set up your bank details. Once registered, the bank account will be used as your primary withdrawal destination. 
CMC Markets doesn’t support any third-party payments; the traders may be asked to submit some documentation to prove the ownership of the registered bank account.

Can CMC Market’s withdrawal be trusted?

CMC Markets has been in the industry since 1989 and, since then, has been the most low-risk broker providing forex and CFDs. This is all possible due to its trustable regulations in a total of 4 tier-1 and tier-2 jurisdictions. With noticeably lower trading expenses compared to the industry, CMC Markets is a low-cost brokerage firm with swift withdrawals.

What are the steps for CMC Market’s withdrawal?

The broker makes it simple for the traders to transfer money or winnings from their ANZ Cash Account to any other external bank account. You will need to carry out the actions indicated below to finish the procedure.

Make your selection from the Account Menu’s Transfer Funds option. Include the sum you wish to remove from your ANZ Cash account. The process will start once you enter your trade PIN and select the Request Transfer option.

What are the various methods to make withdrawals from CMC Markets?

The broker is aware of the traders’ busy schedules and makes an effort to take as much of the load off of the traders as possible. And one of the best ways they manage to achieve so is by providing a variety of withdrawal alternatives.
To have a same-day funds transfer experience, one can use debit or credit cards or a wire transfer. Additionally, they can complete the transactions using a variety of e-wallets, including Skrill or Neteller.

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Last Updated on January 27, 2023 by Arkady Müller