Deposit and Withdrawal of Funds on IQ Option
Take Your First Steps in Trading with IQ Option
People begin any trading on the stock exchange in binary options with one goal in mind - to make a profit. Forex is no exception.
Therefore, it is quite obvious that all reasonable traders think about how to withdraw their capital before they register to start investing in binary options trading and not after. There are quite a few ways to withdraw and each of them is associated with financial costs.
The main headache that awaits all brokers is the various fees, exchange charges, and commissions. If you are too careless with the initial procedure, then you can lose a significant amount of the money you made on the market - it will be spent on the payment of fees.
When choosing intermediaries, a broker, or an investment trading platform, the binary options trader has to review the size of the commission and the speed of money withdrawing. You don’t want to have to wait too long for the processing. It is useful to choose a few suitable payments options and utilise them.
Another important detail that always has to be carefully investigated is the connection between the deposit method and the withdrawal method. They do not always match.
In a word, before you trust the service with your option account money, you or your broker need to give careful consideration to their terms and conditions.
Every Detail is Important
In the options trading currency business there are no unimportant trivia. If you want to get yourself an option account, you or your broker must thoroughly study the fine print and risks for making deposits into it, and even more importantly, the rules for withdrawing money.
Find a broker who is fully invested in building your personal wealth. It’s a good idea to try out your skills using a demo account first.
Quite often, novice inexperienced traders encounter surprises along the way. They take a chance and sign up for training courses and open a bonus account, completely ignoring the methods of making deposits and the ways of funds withdrawal.
If it suddenly becomes necessary to extract funds from the account, the trader isn’t always satisfied with the conditions. Typically, you can only withdraw in the same manner in which you deposited, and this is not always acceptable. Instructions always warn about this, and if you read them carefully, then there will be no unpleasant misunderstandings.
An excellent protection against any unforeseen situations is to provide the possibility of getting funds immediately when setting up an account on a certain platform. To do so, the account is replenished with small amounts of money through various services. Of course, with this method you have to pay several commissions and fees at once, but now you can withdraw money in any way that suits you.
Inattentive traders may face another “surprise”. Nearly always, the number of options on offer for making a deposit and replenishing the account exceeds how many options there are for withdrawing funds from the account.
Therefore, if you replenish your account in different ways and only intend to activate various withdrawal methods, then make sure not to replenish it with an “extra” method, that is, the one that does not have an appropriate, safe method. Of course, if you replenish your account with such a “dead-end” method of topping up, nothing bad will happen, but nobody wants to pay the commission once again.
The details about the taxation of earnings on Forex also require your special attention. Ensure that as a novice trader you remember to look into this. If your earnings are low, then no problems will arise.
However, as soon as your income turns out to be more substantial, you will often be cashing out large sums of money, and this will surely attract the attention of the tax authorities. Therefore, in order not to create problems for yourself, you will have to consult with a tax specialist and arrange the right tax proceeds.
Thus, the choice of provider or online platform, through which deposits will be made and earned money be withdrawn, must be taken very seriously.
You may consider it necessary to find and use more than one of such services, or maybe you will prefer to use only one of them. This is entirely your choice.
IQ Option – Easy and Convenient Withdrawal of Money
The IQ Option service trading platform was created specifically to make the work of South African traders as convenient as possible.
It considers the specifics of the country, the currencies in use, the type of credit cards that are acceptable, provides free educational materials and products online and many opportunities for protecting beginners from annoying and potentially costly mistakes.
Thanks to such services, the provider is popular not only in South Africa, but throughout the world. The total number of users currently on our address list is close to 20 million. IQ Option services system offers unprecedented security to our users which is why we’re one of the most trusted providers in the industry. We offer demo accounts for those who are unsure of the process and want to practice before investing any money.
To become one of our IQ Option clients and, consequently, a successful trader, you just need to have a smartphone connected to the Internet. Of course, you can work with the service using either your mobile phone or a computer. The process for withdrawing money from your trading account using the IQ Option service trading platform is extremely simple to understand and very convenient. There is a special section on the screen where you can just click and see the status of your request in real time.
Withdrawal can be done in several ways:
- banking transaction
- credit card
- electronic payment systems such as webmoney
If the “sent” message appears on the page, you will receive funds immediately. If you need to submit some company approved documents, you will see “hold” in the request window. If withdrawal is not possible, then you will see the status situation: “Cancel”.
Processing of the requests is very fast - usually you will have to wait no more than 24 hours, and sometimes the entire debit process takes only an hour and a half. Of course, VIP accounts are serviced faster.
Even so, users often have to wait for up to three days. Processing time depends heavily on payment methods and a number of other factors. The slowest cases are those associated with bank cards - here the waiting time can be up to ten days. Despite this, there is nothing to worry about, because you will definitely get your money.
It will be impossible to remove funds in the following situations:
- no deposit was made to the bank card
- monetary amount exceeds the amount of the deposit
- your bank card is not valid
- your bank card does not support international transactions
In order to withdraw funds quickly, you must study the instructions and talk with the staff.
Before starting the procedure, always check the account’s status. It is better not to make any mistakes.
They do not carry a serious risk, but it facilitates the process when they do not happen at all. For further information or advice, contact our experts.