How to withdraw money on Purple Trading? -Tutorial
- How to withdraw money on Purple Trading? -Tutorial
- Withdrawal Methods explained
- Minimum withdrawal amount
- How to withdraw money?
- Conclusion: Fast withdrawals on Purple Trading guaranteed
Trading without being able to withdraw your funds is as useless as preparing something to cook that you can’t eat. Every trader wishes to enjoy the fruit of his investment by earning and withdrawing his profits from his trading account.
A trader must choose a reliable online trading platform if he does not wish to struggle to withdraw his funds from his trading account. Purple Trading is one such broker that is reliable, and traders can trust it.
Purple Trading offers a varied list of assets in which they can invest their money. Once you make profits, you can withdraw funds from your trading account just as easily as you deposited funds into it.
Withdrawal Methods explained
While funding your Purple Trading online trading account, you might have witnessed that you have plenty of options that you can use to fund your account.
Having multiple payment options offer the users convenience in terms of investing. For example, if you face issues while funding your account with one payment method, you can use another. It saves you from the possibility of missing out on profitable trades.
The Purple Trading withdrawal methods are similar to the deposit methods and include:
- Debit cards
- Credit cards
- Electronic wallets
- Online transfers
Here is a brief explanation of the Purple TRadomh withdrawal methods.
(Risk warning: 63% of CFD account lose money)
Debit and Credit Cards
All trading platforms allow users to deposit and withdraw funds from their trading accounts using their debit and credit cards.
Once you decide to withdraw funds from your Purple Trading account, you can select Debit or credit card as your preferred payment method. You can choose this payment method and enter the amount you wish to withdraw from your trading account.
You should note that to deposit and withdraw funds from your Purple Trading online trading account, Debit and credit cards that belong to you can be used here. The broker does not accept third-party Debit and credit cards due to security and lawful compliances.
The withdrawals processed through credit and debit cards take only 2-4 business days to reach your bank account.
Online transfers are another withdrawal method offered by Purple Trading. You can use this withdrawal method and enter the amount you wish to take out from your Purple Trading account.
You will be able to use online transfers for domestic and international withdrawals by paying a minor fee to the broker. If you used online transfer for funding your trading account, you might use it to withdraw funds. However, the bank account you use to make the transactions should belong solely to you and should not have the name of a third party.
To make a Purple Trading withdrawal using an online transfer, you need to verify your bank account with the broker. For this purpose, you can upload pictures of your bank passbook and bank statements for the past couple of months.
Purple Trading withdrawals made with wire transfers get processed within 3 to 5 business days.
Electronic wallets like Skrill and Neteller are becoming increasingly popular for depositing and withdrawing funds from your online trading account. Almost all trading platforms allow their users to use electronic wallets to make transactions. Even Purple Trading lets the users withdraw their funds using Skrill and Neteller.
Withdrawals through e-wallets do not take much time and get processed within a few minutes. It is the reason why many traders opt to make Purple Trading withdrawals through electronic wallets. It is one of the fastest withdrawal methods, and you can opt for it if you need to withdraw funds on an urgent basis.
Minimum withdrawal amount
Before proceeding with your minimum withdrawal request, you should know the Purple Trading minimum trading withdrawal amount. The minimum withdrawal amount can differ depending on the payment method you choose.
Minimum withdrawal amount
Credit and debit cards
8 Euros or equivalent
$3 or equivalent
No minimum amount
For withdrawals you make through credit and debit cards, you will have to withdraw a minimum of 8 Euros. If you are taking out funds in a different currency, the amount should be equivalent to or more than 8 Euros.
The minimum withdrawal amount for the funds taken out through electronic wallets is $3. If you prefer to use your electronic wallet to make a withdrawal transaction using a different currency than USD, you should ensure that the amount is equal to or more than $3.
If you want your Purple Trading withdrawals to get processed through bank transfers, you don’t have to worry about the minimum deposit amount. There is no minimum deposit amount for withdrawals made through bank or wire transfers.
How to withdraw money?
Now that you are aware of the Purple Trading withdrawal methods and the minimum deposit amount, it is time we tell you how you can withdraw funds from your trading account.
Purple Trading withdrawal involves the following steps.
- Visit the Purple Trading website and log in to your live trading account by entering your login credentials.
- Once you enter the account after logging in, you can click on the ‘withdraw funds’ options and select the payment method to make your Purple Trading withdrawal. Once you select the withdrawal method, you will be able to enter the amount you wish to take out from your online trading account. You can enter the amount and confirm the request.
- After submitting your withdrawal request, Purple Trading shall send you a confirmation email or text message to confirm it.
If you stay in accordance with these three simple steps, you will be able to make a Purple Trading withdrawal.
Purple Trading also charges some fees to process the withdrawals of their users. Just like the minimum withdrawal amount differs across different payment methods, the Purple Trading withdrawal fees are also different.
Debit or credit cards
$7 or equivalent
1-2% of the total amount withdrawn
International bank transfers
0.5% of the total amount withdrawn
Domestic bank transfer
For debit card and credit card withdrawals, the online trading platform charges you a fee of $7. Withdrawals made through credit or debit cards in any other currency will attract a withdrawal fee equivalent to $7.
If you are withdrawing funds using Skrill or Neteller, you will have to pay a withdrawal fee equivalent to 1-2% of the total amount you are taking out. For example, if you are withdrawing $100 from your Purple Trading account, you will have to pay a withdrawal fee of $1 or $2.
The international bank transactions from your Purple Trading account cost you 0.5% of the total amount you wish to withdraw. On the other hand, all domestic withdrawals made from your online trading account do not cost you anything.
Proving identity before submitting a withdrawal request
Before making any withdrawal request, you should verify your details with the broker. Purple Trading will accept your withdrawal request and allow you to withdraw your funds only after you submit your identity proof.
The broker shall also ask you to furnish the details of your bank account or the payment method you wish to use. To verify your identity with Purple Trading, you can upload a high-quality image of your identity card or passport.
Deciding to use your credit/debit cards to withdraw funds, you can verify them by uploading a scanned image. It should show both sides of the card. Also, the card should show your name, expiry date, and the first few numbers.
Once you verify the payment methods, you can submit your withdrawal request to the broker.
All Purple Trading users must avoid using third-party payment methods to deposit or withdraw funds from their trading accounts. You can’t use third-party accounts to make transactions on Purple Trading because it is against their operating procedures. Using the payment methods of a third party is also against legal compliance, which is why Purple Trading does not accept it.
You can use that bank account, credit card, debit card, or electronic wallet to deposit or withdraw funds from your trading account which belongs to you. That is why the broker asks you for verification of documents before processing your withdrawals.
Problems that can occur
There are a few problems that you can face while requesting the Purple Trading withdrawal. Many users are unable to withdraw their funds using their preferred payment methods. It is generally because the users don’t pay attention to the fact that they used a different payment method to deposit funds.
For example, if you used a bank or wire transfer to fund your Purple Trading account, withdrawal of funds using credit or debit cards is not allowed. The withdrawals are possible only through the deposit method you used initially.
However, if you use your credit or debit card to deposit funds, you will still be able to withdraw funds using your bank account.
Conclusion: Fast withdrawals on Purple Trading guaranteed
Purple Trading is a sea full of treasures for the traders. It opens the doors of possibilities for the users by giving them access to many assets and securities.
You can buy and sell top and trending assets on this online trading platform and earn profits. Once you earn enough profits, you can withdraw them from your Purple Trading online trading account using the steps we discussed.
You can choose bank transfer or your initial payment method to make the Purple Trading withdrawal.
See article about other online brokers:
Last Updated on May 9, 2022 by Andre Witzel