How to withdraw money from IQ Option? – Withdrawal tutorial
Table of Contents
IQ Option holds the entitlement for being one of the reputable companies in the entire binary options brokerage industry. This platform comes with intuitive features and welcomes traders of all experience levels. If you are a beginner and are willing to start your binary options trading journey, IQ Option can help you.
You can trade with various financial instruments over the platform. You get accessibility of trading with binary options, ETFs, Forex, Stocks, cryptocurrencies, and commodities. The broker commenced with its trading platform in 2013 under the company name IQ Option LTD. In a very short period, this platform gained immense popularity.
It has over 48,000,000 registered users and has recorded over 1,000,000 transactions every day. The platform and its policies offer acceptance to traders of over 213 countries, including Nigeria, India, the Philippines, South Africa, Pakistan, Singapore, Malaysia, and others. It is operating under the regulation of CySEC, which states its genuineness of providing services.
The beginners who are willing to commence with their trading journey can leverage the potential of its demo account. The demo account is a complete replica of what you see in the live trading account. Hence, the demo account will let you practice with all the real-time tools and interfaces. The only difference will be that you will not be using your real funds but the virtual ones.
After learning about the initial trading strategies, you intend to deposit your money and start your journey. The minimum deposit amount over IQ Option is $10, which is less than most competitor brokers. You can place your minimum trade at $1, a relaxation for beginner traders. Now comes the most talked about part, “withdrawal.”
There are many beginner traders who are concerned about the withdrawal process and charges that they have to pay over the platform. Most people fear putting their money into trading with the thought that they would be charged at the time of IQ Option withdrawal! So, to help you eliminate this confusion, this guide is about to focus primarily upon withdrawals over IQ Option.
Getting started with IQ Option
If you are a true beginner and are unaware of the platform, this brief introduction section will help you get the hang of it. Read along!
IQ Option is not just any standard binary options trading platform but has a proprietary custom-built platform for meeting the specific needs of users. Following that, the platform has an aesthetic design with all the features highlighted on the front.
Features
Some of the outstanding features of IQ Option include:
- Multi-chart layouts
- Technical analysis
- Volatility alerts
- Historical quotes
- Market updates
- Economic Calendars
- Stock screeners, etc.
Maximum payout
You get a maximum profit payout of 95% over the IQ Option. It means that if you are winning trade over this platform, you can get up to 95% profit on your invested amount. For instance, you traded $100 on a price hike of an asset with a maximum payout of 95%, and it was a success. In that case, you will get a profit payout of $95 into your account. So, you saved $100 by winning the trade and earned $95 as well.
Technical indicators
This platform comes with over 15 different technical indicators to help you identify the trends and spot all of the profitable trades. These technical indicators are as follows:
- MA
- Volume
- Bollinger Bands
- Alligator
- MACD
- RSI
- Parabolic SAR
- Awesome Oscillator
- Stochastic Oscillator
- ADS
- ATR
- CCI
- Fractal
- Ichimoku Cloud
- KDJ
- DPO
- Belkhayate Timing
Account types and deposit
Before heading out to the withdrawal section, the next thing you should know is the deposit options over IQ Option. There are two account types over the platform: Standard and VIP. You just need to make a $10 deposit for the standard trading account and get complete accessibility on trading functionalities. You get access to over 350 assets for trading with a 24-hour withdrawal processing feature as well.
The second type is a VIP trading account available only for clients who deposit $1900 or more within 2 days of opening an account. You get access to all standard features and even more with this account accessibility. You will have personal account managers to track your trades; you will get monthly reports on the trading records and 3% additional payout returns.
There is no processing fee for making the deposits over the IQ Option. But before you make the deposit, you need to go through a verification process with some of your credentials. These verifications might differ from country to country but is an easy process. You can then deposit the money using wire transfers, Credit Cards, and even some acceptable E-wallets.
How to withdraw money?
Now that you are aware of the basic considerations of the IQ Option, you can learn about withdrawal. You need to select a minimum withdrawal amount of $2. You can make use of the same payment mode that you used for your deposit. It is because the transaction you make will be processed as a refund.
It is an important security measure that IQ Option takes in order to ensure that your funds are going to you only! If someone has accidental access to your account, they should not withdraw the funds to theirs. Therefore, the withdrawal requests are made only to the account that you used for the deposit.
The amount you withdraw should not be larger than that of the deposit made with that card. It means that if you have deposited $100 from a card and you have a profit of $150 for withdrawal, you cannot process a withdrawal request for the complete $150. You need to break it down! All the withdrawal requests over IQ Option are processed within just a day.
Earlier, the bank car withdrawals used to take around 3 days for processing. However, as of the new implementation within the policies of instant bank card withdrawal processing, IQ Option is now immediately processing the bank card withdrawal requests as well. As a result, the traders will not have to wait for a long time for their funds!
IQ option transfers the funds to the bank immediately, but the bank delays crediting the amount to your account. So, it might take some time for the bank to complete the verification from their end and reflect the funds in your account.
Here are the steps in pointers to help you better understand the process of withdrawing funds from IQ Option. The steps below assume that you are an existing IQ Option trader, as it is the step for withdrawal. Without having an account or some profits, you would possibly not seek withdrawal-
- Visit www.iqoption.com and scroll through the official website to get a basic idea of what the platform is.
- Now, sign in to your IQ Option trading account by giving the correct credentials.
- Go to the ‘User’ section on the top right-hand corner of your IQ Option dashboard.
- Look for the option “Withdraw Funds” from the list, and select the same.
- You will be redirected to a payment system selection page.
- Select the payment method that you originally chose for a deposit, without which the platform will reject the request.
- In the next steps, follow the informational instructions and click on ‘Submit.’ The request will be processed within the next 24 hours.
Point to Consider: Remember that you have only one free withdrawal every month, irrespective of the payment method you use.
Payment methods
There are various payment methods embedded in the IQ Option platform in order to help you make seamless deposits and withdrawals. The available payment methods include:
Wire transfer
Wire transfer over IQ Option refers to the electronic transfer of funds from one bank to another and the trader’s account. Bank transactions are accountable as a safe and secure method. It is because the federal regulations are imposed upon this transaction mode for identity verification, physical address and other such information while opening an account.
It is a reliable option, but it does take time to reflect the money in traders’ bank accounts. Hence, this is one challenging aspect that binary options traders over IQ Option experience while seeking wire transfer as their withdrawal method. There might be times when you need the funds immediately, but the wire transfer process would take a considerable amount of time.
So, if you have small withdrawals, you should avoid using wire transfer as your primary option. But in case of bigger withdrawals, you can rely upon this method for the sake of its security. The platform processes the withdrawal requests within 24 hours, but the bank delays the process! There might be some changes from the bank’s end upon this payment method.
VISA/Master card
It is an ideal preference of withdrawal at IQ Option! IQ Option access withdrawal requests from the VISA, VISA Electron, MasterCard, and Maestro Card. You do not have to pay any fees for seeking withdrawal from the Credit cards.
IQ Option holds the merchant level title for maintaining the Payment Card Industry Data Security Standard. So, you can be sure that your money is safe with the IQ option while it processes the withdrawal to the linked account on your card.
E-wallet
E-wallet is yet another convenient method for you to withdraw the winnings via e-wallet. This service is offered by the third-party payment gateway or wallet provider. Go with the popular E-wallets only to ensure that you do not have any issues while processing the deposits or withdrawals.
Some of the options that IQ Option recommends you to use over the platform are Skrill, Neteller, WebMoney, Boleto, and FasaPay.
Fees embedded upon the IQ Option brokerage platform
You get one free withdrawal every month of the year, without any charges from IQ Option. The bank wire transfer is the only method your respective banks might charge you a minimal fee for processing the withdrawal amount and crediting it to your account. If you have problems, you can contact your bank to know more about them.
But if you are willing to withdraw more than once a month, you will have to pay a commission of 2% on all payment methods. Here is the table to help you get an insight into the same for minimum withdrawal amounts and maximum commissions on all payment methods:
Payment Method | Minimum Withdrawal Amount | Commission | Processing Time |
Bank Transfer | $6 | 2% maximum up to $30 | 1 to 72 hours |
Neteller | $2 | 2% maximum up to $30 | 1 to 3 business days |
Skrill | $2 | 2% maximum up to $30 | 1 to 3 business days |
GlobePay | $9 | 2% maximum up to $30 | 1 to 3 business days |
Advcash USD | $2 | 2% maximum up to $30 | 1 to 3 business days |
Perfect Money | $2 | 2% maximum up to $30 | 1 to 3 business days |
VISA/MasterCard | $2 | 2% maximum up to $30 | 1 to 3 business days |
Webmoney WMZ | $2 | 2% maximum up to $30 | 1 to 3 business days |
For deposits, you do not have to pay any fees at any time, and the credit is almost instant, irrespective of the method you choose. The minimum deposit is the same for all methods, and the IQ option will deduct no money as any kind of commission of deposit.
Conclusion
IQ Option is completely safe for you to start your trading journey! It is one of the most successful and biggest binary options brokers of all time, with a large number of active users. All of the client funds deposited over the platform are held in different segregated bank accounts for additional security.
IQ Option is accountable as a member of ICS (Investors Compensation Scheme), which is enabled to protect clients’ funds up to a maximum of $20,000. You can make a lot of money with the IQ Option if you have the strategic mindset to predict the positioning of an asset’s price value.
IQ Option offers various short-term trades which will allow you to make money in just 60 seconds. It means that you can make your profits with the right prediction in less than a minute. The binary options trading feature over the platform offers you a maximum payout of 95%. But the digital options are accountable to pay you around 900% profit.
You will know more about this platform when you access the account, try demo trading over the virtual trading account and plan out your trading strategies. Deposit and withdrawal are less of a concern while trading binary options with IQ Option. They take proper care of all security aspects when there are funds involved.
So, keep aside the withdrawal and deposit hassle, and focus on learning how to maximize the profitability aspects over IQ Option. Get used to the trading strategies and patterns to make successful predictions.
FAQ – The most asked questions about withdraw money on IQ Option :
How long does it take to withdraw money from IQ Option?
All of the withdrawal requests are processed and settled within three business days. But with modern systems and policies, most withdrawal requests are processed within a day or in less time. Depending on the payment system, the final credit in your account might take a little more time. The transaction and other such conditions might vary depending upon your location.
Which e-wallet is best for IQ Option?
Neteller is a popular multi-currency digital wallet you can prefer to set up online for free. You can use it for the deposits and withdrawals from the IQ Option account. Amongst all of the e-wallet payment options available over this platform, Neteller is the most reliable amongst all! Even IQ Option promotes the same over its blog section.
Does IQ Option use PayPal for deposits and withdrawals?
PayPal is truly a convenient mode of making deposits and withdrawals for traders. Most of the broker platforms have already imposed the use of PayPal over their platforms. But IQ Option has not imposed this feature or method to date. But apart from PayPal, it has many other resources available for accepting and making payments.
Can I cancel any withdrawal request over IQ Option?
Yes, you can cancel your withdrawal request over IQ Option before it is processed. If you have a change in mind about keeping your profits a bit longer within the account, then raise a request by contacting IQ Option and pass on this issue to them. The company specialists will raise the request and stop the processing of your withdrawal request.
Can I use debit cards for making deposits and accepting withdrawals?
Yes, if your debit card is VISA, Maestro, or MasterCard, you can use it for deposits and withdrawals over IQ Option. But you cannot use the Electron debit cards over the platform, as there is no provision or acceptance over this trading platform.
What are the options to make an IQ Option withdrawal?
Traders can make an IQ Option withdrawal. But you have to follow the procedure to withdraw from the IQ option. You can use credit cards, debit cards, bank or wire transfers, and e-wallets. You can use these methods to withdraw funds from the IQ option. Moreover, the first withdrawal is free of cost. Later, you have to pay a fee of 2% of the withdrawal amount for further withdrawals. Yet, the figure should be at least $1 and not more than $30.
How long does it take to make IQ Option withdrawal?
The broker will process your IQ Option withdrawal at the earliest. However, the duration a trader receives his funds depends on the payment methods he chooses. Bank transfers might involve a lot of time in receiving funds. On the other hand, payment methods such as electronic wallets and cryptocurrency do not take much time and allow instant payments.
How does a trader submit an IQ Option withdrawal request?
A trader can submit the IQ Option withdrawal request by logging into his trading account. Then, he can click on the ‘withdraw funds’ options, choose a payment method, and enter the amount he wishes to withdraw. Then, he can submit his withdrawal request.
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Last Updated on April 14, 2023 by Andre Witzel
