Withdrawals
To make a withdrawal of funds, you must complete a Withdrawal Instruction under Account Management. While the first cash withdrawal in any one month is free, there will be a charge for each additional withdrawal. We have implemented this policy to cover its costs in order to maintain our low commissions. Click here to see a schedule of the fees charged after your first monthly cash withdrawal.
A withdrawal request will be processed only if the customer has sufficient available funds and equity in excess of the initial margin requirement. Available funds are defined as the lower of trade or settlement date funds. If a withdrawal request is rejected, the customer must re-enter the withdrawal request once there are sufficient available funds and equity in excess of the initial margin requirement.
Because of anti-money laundering regulations, all withdrawals will be sent in the name of the account holder.
Please see the Withdrawal Types or Account Type Withdrawal Specifics tables below for more details.
| Withdrawal Type | Description |
| Wire | You will be asked to complete a Wire Settlement Instruction during the Withdrawal process if you do not have one on file, or if you would like to add a new one. Wire requests entered by 14:00 ET will be sent by 18:00 ET, under normal business circumstances, for same-day credit. It may take longer than that for your bank to actually credit the funds to your account. |
| US Automated Clearing House (ACH) Transfer |
You will be asked to complete an ACH Settlement Instruction during the Withdrawal process if you do not have one on file, or if you would like to add a new one. ACHs are only available for US dollar currency withdrawals to an account held in your name at a US bank that will accept ACH fund transfers. Requests entered by 14:00 ET will be sent by 18:00 ET, under normal business circumstances, for next day credit. It may take longer for your bank to actually credit the funds to your account. |
| Canadian Electronic Funds Transfer (EFT) | Available for USD or CAD currency withdrawals to a USD or CAD currency account held in your name at a bank located in Canada that allows EFT fund transactions. Cash will be automatically transferred. EFT requests received by 09:30 ET will be debited to your account the next business day, under normal circumstances. |
| Check | Only available for US currency withdrawals. Check requests submitted by 09:30 ET will be mailed sometime during the next business day. Arrival is dependent on the mail and credit is dependent on your bank. |
| Automated Account Transfer System (ACATS) or Account Transfer on Notification (ATON) |
Transfer of positions and funds through ACATS or ATON must be initiated by the receiving broker. |
| Withdrawal Type | Description |
| IRA Accounts | Customers may request Normal, Early, Early with Exception, Disability, Death, and Excess Contribution Distributions. Please choose the correct distribution type from the Withdrawal Instructions under Account Management. You will also need to specify the tax withholding instructions. Customers wishing to manually rollover their funds to another IRA account should indicate Normal or Early Distribution, depending on your age. You will have 60 days from the payment of funds to roll them over to a third party IRA account in order to maintain IRA tax status. |
| Advisor Accounts | Advisor clients may complete a Withdrawal Instruction electronically if they have a username and password. If they don't, the Advisor can also make a withdrawal request for the client. Please note that checks will only be made payable to the client, and electronic transfers will only be made to an account in the client's name. |
| Institution Accounts | All withdrawals should be made from the master trading account. Funds may be transferred from the client accounts to the master account. |
| Fully Disclosed Broker Accounts | Clients should use Account Management to make withdrawals directly from their accounts. |
| Non-Disclosed Broker Accounts | All withdrawals should be made from the master trading account. Funds may be transferred from the client accounts to the master trading account by broker reps with financial functions. |
| Omnibus Broker Accounts | All withdrawals should be made from the master account. Excess funds will automatically be transferred from the long/short accounts to the master account. |