Do you want a broker that offers easy and secure withdrawal options? Then you should give the IQ Option withdrawal process a try. Learn more now!
When it comes to withdrawals, the good binary options separate themselves from the bad. Since withdrawals are the last thing on the mind of a new broker, some brokers apply insane fees or make your life difficult in some other way. Luckily, the IQ Option withdrawal process proofs itself to be one of the best in the business.
To make an IQ Option withdrawal, you have two basic options:
Since both withdrawal options’ features are fundamentally different, let us take a closer look at each option.
All IQ Option withdrawals will be processed within 3 business days. Depending on your withdrawal method, you have to add the methods withdrawal time to calculate your overall withdrawal time.
Credit card or debit card withdrawals are the most popular withdrawal method. They are free, quick, and easy, and they are the natural payment method for many traders who use credit cards to pay and receive money every day.
Deposits via credit card will take 3 days to process by IQ Option and two days to process by your credit card provider. Overall, a processing time of 5 business days is the quickest you can get with binary options.
Compared to credit card withdrawals, wire transfer withdrawals have a number of disadvantages that make them the less perfect withdrawal method:
1) Wire transfer withdrawals take longer than credit card withdrawals. While wire transfers will also be processed within 3 business days by IQ Option, they take much longer to reach your bank account than withdrawals by credit card. Instead of an overall processing time of 5 days, wire transfers can take up to 10 business days, depending on the customs of your country and your bank.
2) Wire transfers are not free: There is a fee by IQ Option on every wire transfer withdrawal that you make. Since you will be making a lot of withdrawals over the course of your trading career, this is the main reason why you should try to stay away from wire transfer withdrawals.
With this lopsided list of features, you might ask yourself why some people use wire transfer withdrawals at all. The answer to this lies in an anti-money-laundering law: You are only allowed to withdraw as much money with a credit card as you deposited with it. Since some people deposit money by wire transfer, they also have to withdraw by wire transfer.