TR Binary Options withdrawal methods are quick and easy. To choose the right withdrawal method, there are a few things you need to know, though.
Discover the TR Binary Options withdrawal methods
TR Binary Options offers two payment methods to withdraw money:
- Credit card
- Wire transfer
Both methods are fundamentally different in a number of ways:
Fees: While credit card deposits are free of any fees, each bank transfer withdrawal is charged a fee of $30. Traders who earn a living with binary options need to withdraw money regularly. To not run up insane costs for withdrawals, these traders should withdraw money by credit card. Bank transfer withdrawals are only advisable if you only want to make one withdrawal per month – the first bank transfer withdrawal of each month is free of charge with TR Binary Options.
Processing time: While TR Binary Options takes 2 days to process any withdrawal process, withdrawals by credit card will be booked to your account more quickly than withdrawals by bank transfer. Credit card withdrawals usually hit your account within 2 business days after TR Binary Options has processed the withdrawal. Bank transfer withdrawals can take up to 7 business days.
Maximum withdrawal amount: With each credit card, you can only withdraw the amount you deposited with the exact same card. This means, if you deposited $5,000 by credit card, you can withdraw no more than $5,000 with the same credit card. Any amount beyond $5,000, in other words your profits, can only be withdrawn via wire transfer.
In short: Withdrawals with credit card are cheaper and quicker than withdrawals with bank transfer. If you plan to withdraw money by bank transfer, you need to plan ahead to make due with one withdrawal per month. This is a small limitation, but you need to account for it. Otherwise, needing only $50 extra for this month would amount to an $80 hit in your account balance when accounted for the $30 fee – an unnecessary extra 60% wasted.
Compared to most competitors, TR Binary Options’ withdrawal process is quicker and easier. While most binary option brokers require you to provide a picture ID and a proof of address before you withdraw money, TR Binary Options requires these documents right on deposit. That makes withdrawals quicker and frees them from the bureaucratic effort.