Do you want a binary options broker that offers easy, secure, and fee-free banking? Then the IQ Option banking options might be exactly what you need.
General risk warning
Banking is a crucial but often overlooked aspect of binary options trading. In the quest for ever higher payouts and new binary options types, many binary options traders forget to thoroughly check a brokers basics such as banking.
Without an option to transfer money to and from your broker quickly, easily, and securely, however, all the other features of a broker are useless. To help you find a broker that offers trustworthy banking, we have tested the IQ Option banking process thoroughly.
IQ Option banking offers three general payment options:
1: Credit Card: You can receive and send money from and to IQ Option. For most brokers, credit cards are the natural choice to make an online payment. IQ Option supports this choice by making credit card banking easy, quick, and fee-free. Deposits via credit card will be booked into your account immediately, withdrawals are executed within two business days.
2: Wire transfer: For those of us who do not own a credit card, wire transfer might be the best alternative as a payment method. Wire transfer is the only banking method that does not require you to have an account with a third party provider. Wire transfer is, however, the slowest banking option, with deposit and withdrawals taking up to 10 business days. Also, there might be a fee from IQ Option and an additional fee from your bank.
3: Online payment providers: Online payment providers allow you to conveniently store all your financial information conveniently in one place and make payments with the click of a mouse button. Online payment providers share much of the same advantages as credit cards, being free, easy, and quick.
To keep your banking secure, IQ Option encodes all communication with you with the SSL standard. The SSL standard is the securest encoding method the web has to offer and the same tool all the big banks use to encode their online banking – it can’t be hacked.
Additionally, IQ Option employ a verification process that makes sure that nobody but you can withdraw money from your account. This verification process requires anybody who wants to use a new withdrawal method with your account to provide your id, proof and resident, and, if it is a credit withdrawal, a picture of the credit card. Since only you own these documents, only you can withdraw money from your account.
Combining these features, IQ Option offers a first-class banking process.