Binary Options Money Withdrawal Process
Binary options trading is a relatively new trading style with a lot of money making potential. When you have earned a descent amount the next step is to withdraw this amount. It is better to understand this process and be aware of the terms and conditions so that you can make a withdrawal smoothly.
Binary Options Withdrawal process - How it's work?
Different binary options brokers have different withdrawal policies. Before selecting a binary options broker you must ensure that the broker supports the method of transaction you wish to use. The most widely accepted transaction methods are credit or debit card transaction and wire transfer.
Credit/Debit card: In a credit or debit card transaction you can withdraw the money by linking your card to your binary options account. This is the safest, fastest and the most reliable option of money withdrawal. Most of the binary options brokers process your withdrawal request within three business days and after processing you will have the withdrawal amount in your account balance very soon.
Wire transfer: Wire transfer is also a reliable method for making a withdrawal and the money withdrawn is directly added to your bank account. However, there are some drawbacks of this process. The binary options brokers charge around $25 for making a withdrawal via wire transfer. Some brokers charge even more and the processing fee for wire transfer can be around $50. Moreover, the processing time for this kind of withdrawal is high and it can take up to ten days.
Digital processes: There are many methods using which you can withdraw you money in your online accounts of Paypal, Skrill, CashU etc. But you must keep in mind that the companies which you plan to use for making a digital withdrawal may charge you a significant amount.
Binary Options Withdrawal problems
You should be aware of the terms and conditions of the withdrawal process of your binary options broker. Some brokers have a minimum withdrawal amount and you can’t withdraw an amount which is lower than the minimum amount set by the broker.
You should also keep in mind that the broker may charge you for making a withdrawal. Some brokers offer up to three free withdrawals per month and if you exceed this limit, the following withdrawals are not free and you have to pay a processing fee.
You should also keep in mind that if the currency of your country is different than you use for trading, the banks will also charge a currency conversion fee.
One more important thing you should keep in mind is that unless and until your identity is verified by the binary options broker, you can’t make a withdrawal.
5 Tips for Binary Options Withdrawal Money
Here are some tips you should always keep in mind for making a withdrawal:
· It is highly recommend that you use your credit/debit card for making a withdrawal as this method is the most economical and the quickest.
· If you plan to use a withdrawal method different than credit/debit card or wire transfer, make sure that you binary options broker supports it.
· Get your identity verified before you make a deposit so that you do not end up with money in your account and you not being able to withdraw it. If there is an issue with your identity validation before making a deposit, you can simply open an account with a different binary options broker.
· Make big withdrawals instead of numerous small ones so that you can minimize the processing charges.
· Read through the terms and conditions of your binary options broker’s withdrawal policy and make sure that you are comfortable with them.
You need to be smart for trading in binary options (and if you have some financial knowledge it can help you). The above tips will help you understand the binary options withdrawal methods in a better way and you can enjoy a smooth binary trading experience.