There is one thing all traders find most important when choosing their new/next broker and that is money withdrawal. If broker isn’t flexible with number of different withdrawal methods or it takes too long for broker to send money to trader’s bank account, they can’t really expect to be popular choice among traders. We have tested Tudor Trade by using their trading platform and in the end we paid special attention to their withdrawal process. Based on that experience we bring you this article about Tudor Trade withdrawal methods. If you wish to learn more about Tudor Trade read our comprehensive Tudor Trade broker review. To learn about Tudor Trade withdrawal keep on reading.
Tudor Trade Withdrawal Methods | Payment and Withdrawal Methods
When we talk about actual process on the web site it is quite straight-forward. You just need to click on MY ACCOUNT in top right corner of the screen and then choose my cashier as shown on the screen shot below. From there you need to click on + Withdrawal request and then withdrawal process starts. You will be asked to choose withdrawal method. Available methods are wire transfer and credit card. Unfortunately Tudor Trade doesn’t offer bigger number of possible withdrawal methods.
During the withdrawal process you will be asked to submit identification documents. This is important to ensure your own safety. This is also important because it ensures that your account is compliant and up to standards of Tudor Trade’s KYC and AML policies, as required by law. Tudor Trade took care of safety of your personal information by encrypting all data transfer with 128-bit SSL encryption.
Tudor Trade Withdrawal Methods | Terms
It is important to note that if you are making withdrawal via credit card Tudor Trade charges no fee. O the other hand if you are making withdrawal via bank transfer you will be charged a processing fee of 25 of the base currency, minimum 25$. All withdrawals must be returned to the same source from which trader made initial deposit. Transfers to any other account are forbidden.
It is important to know that Tudor Trade’s financial department is processing withdrawal requests from Tuesday to Friday between 8-15 GMT. So if you request withdrawal on Friday after 3 pm you need to wait till Tuesday for your withdrawal request to be processed. It can take up to 3 business days for your request to be approved and then additional 5-7 days before the funds show in your bank account.
Unfortunately Tudor Trade doesn’t seem to be flexible when it comes to payments. They could at least work on Monday… There is one more thing that is important to know. You can’t make withdrawal request any time you want. If your initial deposit is under 5.000$ you are entitled to only one withdrawal per 30 days. For deposits above 5.000$ and below 10.000$ it is possible to make two withdrawals per 30 days. And finally initial deposits above 10.000$ can have four withdrawals per 30 days. The minimum withdrawal amount is 100 of the base currency of the customer’s account.
Tudor Trade Withdrawal Methods | Conclusion
We can conclude that, although Tudor Trade has proven to be somewhat inflexible when it comes to withdrawal periods that everything went actually quite smoothly. During the withdrawal process we contacted customer service and they proved to be very helpful. After few days we have normally received money on our bank account. All in all we wouldn’t give Tudor Trade five stars when it comes to money withdrawal, but they are good enough to trade with them. You need to wait for your money a bit longer, but what really matters is that you get it.