The fund withdrawal process represents the most critical point for many retail traders. It is indeed the most important part of any trader’s experience with any broker. You can make as much profit as you want with any broker on the planet, this is worth nothing if you are not able to easily, quickly and properly withdraw those profits and wire them to your effective bank account. Binary options withdrawals represent a key criteria when it comes to choose your broker. In this article, we wanted to present you all you have to know about binary options fund withdrawals. We also produced a comparative table of the fund withdrawal conditions with the best binary options brokers.
Withdrawal problems are the principal causes of scam
Many specialized forums regularly point out to problems concerning binary options withdrawals with certain brokers: inability to withdraw the cash, unreachability of the client support teams… It represents the wide majority of binary option scams that were reported lately, and this is even more true concerning trading robot scams. Traders are tricked into thinking they generate huge profits but they only realize they have been scammed when they try to withdraw their funds. This is why the withdrawal efficiency must therefore become a key focus when it comes to choose your binary options broker.
Binary option Withdrawals – How to withdraw your funds?
The worst happens when the restrictions to these withdrawals are duly mentioned (albeit in minimum characters) in the general terms and conditions of the binary options broker. If you (like many of other traders) didn’t pay attention when you signed the trading account-opening contract, there is nothing you can do about it. This is another technique used by fraudulent brokers to locks investors fund. You should then pay an extreme attention to the terms and conditions of your broker before depositing any fund.
Binary options withdrawal process detailed
With the most reliable brokers, the one recommended on this website, binary option withdrawal demands are generally treated within 48 hours to 5 business days. When the withdrawal is formally approved by the broker, you may have to wait for an additional one or two business days to have the cash credited on your bank account.
Withdrawal fees – These are fees charged by the broker to credit your account with the withdrawn cash. The first withdrawal is free for most brokers but additional binary option withdrawals are likely to be charged a fee.
Minimum withdrawal amount – Each broker may have a different minimum withdrawal amount. These generally vary between 100 and 500 dollars. When it comes to withdraw your funds with a binary options broker, the lower the lower the minimum withdrawal amount the better.
Withdrawal documents – Most regulated and respectable brokers will request official documents from the client before processing with any withdrawal. Be grateful for this as this kind of additional security measures protect you from withdrawal scams. This document list includes a copy of the identification document, a certificate of residence issued within three months and finally a copy of the credit card used for the deposit.
Binary options bonus withdrawals – Be Carefull!! Binary options bonus withdrawals are subject to extremely different conditions. Almost all brokers tend to attach restrictive conditions to withdraw these additional amounts of cash. You will have to reinvest the bonus amount several times to be able to do so. The trade volume requirements vary among brokers and are only there to prevent new traders from abusing the bonus by withdrawing it immediately and close their trading account. Don’t hesitate to have a look at our ranking of the best binary option broker bonus offers for more information about the volume requirements of each broker.