Only settled funds can be withdrawn from your trading account. In the context of fund withdrawals, trade settlement is when proceeds from a trade convert to cash that can be withdrawn. If you have not made a trade or your trades have already settled then there may be a withdrawal hold due to anti-money laundering rules/regulations, see below.
Where can I see how much money I can withdraw?
Only settled funds may be withdrawn
You can see how much cash you can withdraw by logging in to your account at tastyworks.com. After signing in, navigate to My Money>Withdrawals, or for a shortcut click here. If you just closed a trade and see a $0.00 Available to Withdraw, then chances are your position has not settled yet. Depending on what you are trading, settlement times can vary.
Why can't I withdraw the money I just deposited (anti-money laundering rules)?
Due to anti-money laundering rules, newly deposited funds can only be withdrawn 5 business days after posting to the account. For example, if you made a deposit request on Monday before our cutoff and the funds landed in your account the next day (Tuesday), then those funds can be withdrawn next Tuesday, or five business days later.
Additionally, funds must remain in your account for at least 60-days if you plan on withdrawing funds from your tastyworks account a bank account where the funds did not originate.
Trade Settlement Times
Trade Date + 1 business day (T+1)
T+1 means funds can be withdrawn the next business day after the closing trade.
- Stock/ETF options
- Options on futures*
*Cash from a futures trade settle T+1. However, there is a one-day delay for cash to sweep back into your securities account (Apex) for withdrawal.
Trade Date + 2 business days (T+2)
T+2 means funds can be withdrawn on the second business day after the closing trade.