How to withdraw money from a binary options broker? This is perhaps the main question, after we started trading in the black, and we want to withdraw our money. However, not all brokers are happy to withdraw their money to traders.
In this article, we will analyze what you need to do and how to behave in order to withdraw money from a binary broker? By following these rules, you will have an increased chance of seeing earnings on your account
At its core, brokers can be divided into two types; honest and not honest brokers, namely with a license or not. With each of the brokers, you need to behave differently, you need to understand that our goal is not to swear with the broker, but to withdraw your money
If you are trading with an unlicensed broker, you should immediately understand that you are part of a pyramid scheme. The chance of losing money or canceling the withdrawal of your earned funds increases.
Documents before withdrawing funds from a broker
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Before you apply for a withdrawal, make sure that you do not owe anything to the binary options broker. Namely, that you have provided all the documents. After all, a broker is like a bank, he must make sure that you are a real person, that you are over 18 and you do not launder money
Как вернуть ваши деньги?
What documents are required for withdrawal?
In order to withdraw funds, you need to go through verification. To do this, provide us with the following documents:
- a copy of your passport or other document proving your identity;
- a copy of the document confirming your address of residence. This can be, for example, an electricity bill or utility bills;
- when replenishing your account with bank cards, you must send us a photocopy of both sides of the card (you can hide 12 digits and CVV). You can get help with documents in our support service.
Withdrawals take up to five banking days with a verified account. For VIP accounts, withdrawals take up to 48 hours.
Let’s take a look at what to do if your broker does not withdraw your earned money to you.
How to withdraw money from a licensed options broker
If your binary options broker is licensed:
- The first step is to make sure that you have provided all the documents and passed verification. You must have proof that everything is filled out correctly on your part. To do this, after transferring the documents, write a letter to your manager so that he checks the status of your verification. Confirmation from the manager must be by e-mail. Mail. By no means in words. Do not demand an answer and do not press, because if you do not want to return the money, not an honest broker will ignore you. In the friendliest form, write to the manager that you want to deposit a large amount and would like to make sure that everything is fine with the documents. Do not answer calls, write that you are on vacation and you have a bad connection … You can find many reasons. The main thing is that everything is in the friendliest form.
- When you receive the letter, be sure to save it.
- Specify how long the withdrawal process takes, if all the documents are confirmed, because you want to deposit a large amount.
- After that, fill out an application for withdrawal of funds from your trading account.
- Stop trading. In order not to lose money and the amount for withdrawal was not less than the withdrawal request.
- If you have not received the money. Check the status of your account. If the money is no longer in your account, write a letter to the manager asking when you will receive the money.
- If you don’t get a response or don’t get a specific number, write more.
- After your letters remain unanswered, write to the manager and add the broker’s caliper as well. Send letters in Russian and English. This is done to ensure that your manager is the same person. If he is on vacation or on sick leave, then no one sees your letters, and there is no malicious intent in this situation.
- If that doesn’t help, write a threatening letter in two languages. This will show the broker that you can harm his reputation not only in the territory of the post-Soviet countries, but also in European countries.
- If this does not help, write a letter to the regulatory body CySEC, CROFR, etc. Add the support mail and your manager to the address bar.
- If no one has appeared and no one has responded to your letter, leave as many reviews about the broker as possible. It is better to write your name and leave a mailing address. We advise you to open a new one, only for this purpose, so that scammers do not use your real address.
What if the broker does not have a license?
If it is not a regulated broker, you skip point 9, namely to write the authorities regulating financial activities.
Before you start writing reviews about the broker, check that you have done everything on your part. You can find the reasons and problems with the withdrawal of funds in the article: Withdrawal of funds from a binary options broker.
On our portal, you can leave a review about the broker on the review and review page. You can also write us a letter and we will post it on the site.
FILE A COMPLAINT AGAINST A BROKER WHO DOES NOT WITHDRAW MONEY OR HAS SCAMMED YOU >> TO GO
Please note that you must save all correspondence with the manager. Since it is not uncommon for competitors brokers to send and write “Dirt” on each other. When adding your correspondence to the site, there will be no doubt about the authenticity of the letters and the case.
READ ALSO: Broker does not return money – What to do?
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