Editor’s Verdict
The primary goal of traders is to earn money and withdraw profits, but 90%+ never reach this stage due to the high retail failure rate. While far fewer traders request withdrawals than make deposits, those who do usually withdraw frequently. Therefore, competitive brokers provide a swift and user-friendly withdrawal process. Such a process should consist of fast internal processing times, choice of payment processors, and low transaction costs.
Traders at BlackBull Markets get six payment processors, no cryptocurrencies, but nine deposit currencies. The absence of a BlackBull Markets minimum withdrawal amount makes it dependent on the payment processor, which is usually a minor amount, granting flexibility to traders.
Our detailed BlackBull Markets withdrawal review outlines available payment processors, withdrawal currencies, and processing times. Find out everything you need to know about withdrawing funds from BlackBull Markets. Find additional info about Blackbull Markets within our detailed broker review.
BlackBull Markets Withdrawal at a Glance
While the BlackBull Markets withdrawal process follows the deposit path, as is typical for almost all brokers, the choice of payment processors represents the most significant difference between brokers, followed by internal withdrawal fees. Bank wires are generally available at all brokers and for all traders, but many restrict profit withdrawals to credit/debit cards, BlackBull Markets included. Traders may only withdraw their deposit to credit/debit cards and the rest to any of the six available payment processors.
BlackBull Markets attempts to complete each withdrawal request in less than 24 hours, which represents a speedy process. This ensures clients will receive their funds as soon as possible. Once BlackBull Markets honors a withdrawal request, most online payment processors have instant or near-instant processing times, but bank wires can take several business days. BlackBull Markets levies an internal fee of $5 or the currency equivalent per withdrawal, and third-party costs also apply for some withdrawal channels. A BlackBull Markets minimum withdrawal amount does not exist, offering traders the freedom to manage their portfolio as they see fit.
A strict withdrawal hierarchy applies at BlackBull Markets, where credit/debit card transactions rank above other payment processors. On the plus side, once traders withdraw their deposit amount to credit/debit cards, they may select any available payment processors and not only bank wires, as many brokers demand. BlackBull Markets does not support cryptocurrency deposits. Only verified trading accounts may request a withdrawal, and the names on the BlackBull Markets account and payment processor must match for a withdrawal to be processed.
BlackBull Markets Withdrawal Option | Availability |
|---|---|
Bank wires | Yes |
Credit/debit cards | Yes |
e-wallets | Yes |
Cryptocurrencies | No |
Internal withdrawal fees | $5 for each payment processor |
BlackBull Markets Withdrawal Options
Traders get a choice of six payment processors at BlackBull Markets, but not all traders may have access to all of them, depending on their geographic location. The secure client portal, where traders make withdrawal requests, will list all supported methods. Bank wires are available to all traders, and while BlackBull Markets does not list withdrawal currencies, all the nine deposit currencies should be available to everyone.
Credit/debit card withdrawals remain restricted to the deposit amount, while BlackBull Markets does not allow profit withdrawals to credit cards. Should a trader use multiple credit/debit cards, a first-in-first-out hierarchy applies, and traders must request separate withdrawals for each card. It can take up to five business days for funds to arrive.
Most traders prefer e-wallets due to their low transaction costs, fast processing times, and follow-on usage. BlackBull Markets offers four e-wallets to non-EEA traders, which feature two localized options catering to their primary growth markets.
Traders have the following BlackBull Markets withdrawal options:
- Bank wires (domestic and international)
- Credit/debit cards
- Neteller
- Skrill
- FasaPay
- UnionPay
BlackBull Markets aims to complete each withdrawal request in less than 24 hours. The four e-wallets have instant processing times, credit/debit cards may take up to five business days, and bank wires up to ten, dependent on the geographic location of traders. Since there is no BlackBull Markets minimum withdrawal amount, the payment processors set the thresholds. They are usually as low as $1, while maximum daily and monthly limits may apply.
Here is a step-by-step guide on how to withdraw money from BlackBull Markets:
1. Traders should log into their secure client portal (login details differ from the trading platform account number and password).
2. Under the Funding tab, select Withdraw Funds.
3. From the withdrawal screen, fill out the required fields, select your preferred payment processor, the trading account you wish to withdraw from, and the withdrawal amount. Traders must have enough free margin to cover the withdrawal amount.
4. BlackBull Markets usually processes each withdrawal request in less than 24 hours. Traders will receive an e-mail once BlackBull Markets has completed a request. Additionally, the payment processor notifies clients via e-mail, text message, or app once funds arrive.
BlackBull Markets Withdrawal Fees
While BlackBull Markets does not levy an internal fee for deposits, following well-established industry standards, a $5 withdrawal cost applies to all payment processors. Third-party charges may also apply, and traders should check with their preferred options to receive a detailed fee structure and select the ones with the lowest costs unless there is a compelling reason to do otherwise. Generally, bank wires and credit/debit cards are the costliest choices and feature the slowest processing times.
One often overlooked cost is currency conversion fees, which apply when the account base currency and the withdrawal currency supported by the payment processor differ, for example, withdrawing from a US Dollar trading account into a Euro credit/debit card. Traders who plan to use their BlackBull Markets withdrawal for follow-on transactions, like paying bills or buying consumables, should also check the fees from their payment processor to the destination.
Below are details about the withdrawal fees for each BlackBull Markets withdrawal method:
- Bank wires - $5 or a currency equivalent
- Credit/debit cards - $5 or a currency equivalent
- Neteller - $5 or a currency equivalent
- Skrill - $5 or a currency equivalent
- FasaPay - Undisclosed
- UnionPay - Undisclosed
The average withdrawal time for the BlackBull Markets withdrawal methods:
- Bank wires - Under 24 hours
- Credit/debit cards - Under 24 hours
- Neteller - Under 24 hours
- Skrill - Under 24 hours
- FasaPay - Under 24 hours
- UnionPay - Under 24 hours
BlackBull Markets supports the following withdrawal currencies:
- Bank wires - USD, EUR, GBP, AUD, NZD, SGD, CAD, JPY, ZAR
- Credit/debit cards - USD, EUR, GBP, AUD, NZD, SGD, CAD, JPY, ZAR
- Neteller - USD, EUR, GBP, AUD, NZD
- Skrill - USD, EUR, GBP, AUD, NZD
- FasaPay - USD
- UnionPay - USD
Bottom Line
The absence of a BlackBull Markets minimum withdrawal offers traders the flexibility to manage their finances. BlackBull Markets aims to process each withdrawal request in less than 24 hours and supports six payment processors and nine currencies but lacks cryptocurrency support. The four e-wallets have instant processing times once BlackBull Markets honors a request. Credit/debit cards, which BlackBull Markets prioritizes over other methods, and bank wires can take between three and ten business days. An internal levy of $5 applies per withdrawal, and traders should also consider third-party payment fees and potential currency conversion costs. While BlackBull Markets does not list withdrawal currencies, it supports USD, EUR, GBP, AUD, NZD, SGD, CAD, JPY, and ZAR as deposit currencies. Therefore, traders should be able to withdraw the same. The secure client portal handles all BlackBull Markets withdrawal requests from verified trading accounts. BlackBull Markets charges an internal withdrawal fee of $5. Traders must also consider third-party payment costs and potential currency conversion fees. A BlackBull Markets minimum withdrawal amount does not exist, making it dependent on the payment process, which can be as low as $1 or a currency equivalent. BlackBull Markets attempts to process each request in less than 24 hours, but it can take several days for traders to receive their funds, dependent on the payment processor.FAQs
Which currencies are supported in BlackBull Markets withdrawals?
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Does BlackBull Markets charge any withdrawal fees?
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