Withdrawals are one of the topics that most binary options traders neglect and they shouldn’t. As a result, they pay a high price. In this guide, we will explain how you can use IQ Option smoothly and secure withdrawal options to make the most of your withdrawals. In detail, learn how to make an IQ Option withdrawal:
- How can you withdraw money from IQ Option?
- How to make an IQ Option withdrawal
- Why do withdrawals matter?
- When to make an IQ Option withdrawal
With the answers to these questions, you will be able to make the most of your withdrawals with IQ Option.
General risk warning
The financial services provided by this website carry a high level of risk and can result in the loss of all of your funds. You should never invest money that you cannot afford to lose.
How Can You Withdraw Money from IQ Option?
To make an IQ Option withdrawal, you have three basic options:
- Credit card / debit card withdrawal
- Wire transfer
- E-wallets – Skrill, Neteller, WebMoney, Boleto, QIWI, FasaPay, iDeal and CashU
Since all withdrawal options are fundamentally different, let us take a closer look at each option.
All IQ Option withdrawals will be processed within 1 business days. Depending on your withdrawal method, you have to add the methods withdrawal time to calculate your overall withdrawal time. For example some banks have different policies when it comes to international money transfer and it may take longer for them to process it from their side.
Credit card / debit card withdrawal
Credit card or debit card withdrawals are the most popular withdrawal method.
Available debit and credit card methods are: Visa Visa Electron, Maestro and Mastercard. Traders first need to submit a withdrawal request which should be processed within 24 hours and soon appear on traders’ account.
Wire transfer withdrawals
Compared to credit card withdrawals, wire transfer withdrawals have a number of disadvantages that make them the less perfect withdrawal method:
- Wire transfer withdrawals take longer than credit card withdrawals. While wire transfers will also be processed within 24 hours by IQ Option, they take much longer to reach your bank account than withdrawals by credit card. This mostly depends on a bank in which trader holds an account.
- Wire transfers might draw a fee from your bank: Depending on where you live and the practices of your bank, you might have to pay a few for wire transfer withdrawals from IQ Option. While most traders should be able to avoid such fees, it is a point to consider nonetheless. With credit card withdrawals, there are no fees at all.
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 have not deposited any money via credit card and have to use wire transfer for all of their withdrawals.
Similarly, traders who have been trading for a while have used up their credit card budget. At some point, you will have withdrawn just as money as you deposited. From now on, you are withdrawing your funds and have to use wire transfer.
How to make an IQ Option Withdrawal?
IQ Option withdrawals are smooth. To withdraw money from your IQ Option account follow this three-step process:
- Log in to your account. Follow one of our links to the IQ Option website, and log in to your account.
- Open the withdrawals page. Once you are logged in, go to the banking section of your account and open the withdrawals page.
- Enter your withdrawal settings and submit the form. In the withdrawal section, choose the withdrawal method you want to use and follow the further instructions. Enter the amount you want to withdraw and account into which you want to withdraw the money. Then submit the form and your money is on its way.
When it comes to withdrawals, the good binary options brokers separate themselves from the bad ones. Since withdrawals are the last thing on the mind of a trader, 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.
There are no fees on IQ Option withdrawals (except on wire transfers) as well as traders are able to get as many withdrawals they want, no limits. Some withdrawals will take a little longer to execute due to 3rd party involvement, like your bank, but you can generally expect to get your money quicker than with most other brokers.
Why Do Binary Options Withdrawals Matter?
Many traders pay little attention to a broker’s withdrawal policy. They are so focused on high payouts and other more exciting features of a broker that they completely ignore the question how they can get their money back once they entrusted a broker with it.
This neglect is a mistake. Withdrawals might seem like an insignificant factor to your success, but in the long run, they can have a major impact. Just consider this example: many brokers apply a fee on their wire transfer withdrawals, usually around $30 to $50 for every withdrawal.
With IQ Option, you will have the money as quickly as possible, but with many other brokers, you would have to wait for days and weeks before you can finally drive again.
Lowest IQ Option withdrawal is set to $2, whereas traders are able to contact their support agents if they want to withdraw less than $2. According to provided information on their site, maximum withdrawal is $1 000 000, while a number of withdrawals are unlimited.
When to Make an IQ Option Withdrawal?
As we alluded to earlier, you should plan your withdrawals with IQ Option in advance. While there are no fees on withdrawals for credit cards and E-Wallets, there are other important points to consider. Let’s look at these points one by one.
Traders should think twice before they withdraw money
Once registered traders make their first successful trades, they are often quick to withdraw the money. Before you do that, you should get clear on why you trade binary options.
- If you only trade to have some fun, go ahead and withdraw your money. In this case, you should ask yourself why you invest real money at all. You could have the same fun completely risk-free with the IQ Option demo.
- If you trade seriously, you should wait before you withdraw as you probably have a trading plan.
IQ Option Withdrawal Conclusion
IQ Option withdrawals are smooth and quick. You can use credit cards, e wallet providers and wire transfer to withdraw money.
The great advantages of IQ Option withdrawals are that they are no fees in terms of credit cards and ewallets, and that you will get your money quicker as with most other brokers. However, via bank wire, there is a fee which will be charged according to info on their site. Where other brokers take two days to process your withdrawal and charge you $30 to $50 for it, IQ Option does the same job quicker within 24 hours and for free.
Such policies matter. All in all, IQ Option seems as the right choice for traders who want to make the most of their withdrawals.
*Risk Disclaimer: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.