You might be thinking to enter the world of share market investing. Yes, it’s a good idea. Indeed the Indian stock is witnessing the highest ever boom in its entire history. Ever since its inception, the Indian financial market is growing continuously. One can open a demat and trading account online to start investing in the share market. Opening these accounts is the first step to begin your investment journey. Today, we can easily open a trading account on a stock market app. Many financial institutions with stock broking licences offer such platforms. One has to only register and complete a few steps.
As the name suggests, the trading account allows investors to place their trades. All the transactions to buy and sell securities happen through a trading account. So, it is natural your trading account will hold the money one uses for trading. If you are wondering how you can get back these funds, consider exploring this article. It will provide you with all the details that you will require.
What is a Trading Account?
We shall find out how we can withdraw funds lying in the trading account. However, for better understanding, let’s start with the basics. A trading account is essential to transact securities in the share market. All the trading for various assets occurs here only. With a demat account an individual may invest in the primary market. That is, he or she may buy shares in IPOs. However, they will need a trading account to buy and sell stocks in the secondary market.The secondary market is where the bulk of trading occurs. With a trading account you will place your order with the stock exchange. Only then, the stock exchange can process your order further to complete the transaction.
To put it simply, most trading activities take place through a trading account. Investors will have to add money to their trading accounts to buy securities. Similarly, they shall receive the funds in it, when they sell their assets. This is a continuous process. So, the trading account becomes a centerstage of all your monetary transactions too. Thus let’s now quickly jump to the main part of our today’s discussion.
How To Withdraw Money From The Trading Account
There are basically two ways in which investors can withdraw funds from their trading account online. They can do it by logging in to their trading account on a desktop or laptop. The web platforms of stockbrokers provide the facility to withdraw funds. Alternatively, they can try the new-age mobile apps. A stock app is offered by several well-known brokerage houses like Share India. Using the app, you can transfer your money from the trading account to your bank account. Let’s look at both the methods one by one.
Withdrawing Funds From Trading Accounts On Web
Here are the steps you will have to follow.
1. Log into your trading account linked to the demat account.
2. Then, find the funds/accounts section. Click on the available link and go to that section.
3. You will find any one of these two options : (a) add money () withdraw money
4. Now, move to the “withdrawal request” page and click on it to initiate the process. The money transfer process will start when you go ahead with this step.
5. First up, you may find a pop up on your screen. It will display the total net balance available in your account. Then, you will be asked about the amount of money you want to transfer.
6. Up next, select the type of assets. Pick from the two available options of “Securities and Commodities”.
7. Depending on the stockbroker, there will be a limit on withdrawal. It mostly takes into account the amount of funds you have and its share in the demat account. The money supposed to go into the demat account cannot be withdrawn.
8. Enter the amount of money you want to withdraw. Enter your password too and confirm your transaction.
Withdrawal Process On A Trading App
Download the trading app provided by your broker and follow the steps mentioned below.
1. First login to your account.
2. Go to manage funds and click on “withdraw to bank account”.
3. Mention details of your bank account.
4. Enter the password again to authenticate yourself. Some apps also require you to provide a one-time password sent to your mobile number or email id.
5. Finally, specify the amount you want to withdraw and confirm your order.
You will receive a confirmation note when the transfer process is initiated. Usually within minutes or 24 hours the money gets transferred. With powerful platforms of firms like Share India, the transactions occur swiftly. So, you will get your money in a few hours.
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