Have you ever wondered why you can make a deposit with a binary options broker in a matter of seconds, and it takes several days to withdraw your earnings.
When we decide to start trading binary options and make a deposit, everything goes quickly and smoothly. The problem arises when we want to withdraw our money, and it doesn’t matter if we have earned or lost money.
There are several reasons why this is the case, and this article will show you how the deposit and withdrawal system of binary options brokers works.
Basic Information About Binary Options Broker Withdrawals
Today, in the global economy, a broker can be located in one country, and traders are in a completely different part of the world. Binary options traders have a wide range of ways to make a deposit: such as bank transfer, credit cards, electronic money and much more. Some of these methods cannot be used because of the law of whitening capital and illegal profit-making.
PLEASE NOTE THAT THE WITHDRAWAL TIME ALSO DEPENDS ON THE TYPE OF REPLENISHMENT OF THE DEPOSIT. FOR SOME, IT’S A FEW DAYS, FOR OTHERS IT’S INSTANTLY;
These laws cannot be circumvented or ignored by any broker. Therefore, binary options brokers require verification and provide documents for verification. After all, this is done to protect the trader. Otherwise, what do you say if someone steals your credit card and makes a deposit with a broker. The broker won’t do it unless they’re sure it’s your card and you’ve not been robbed.
BINARY TRADING SCHEME: DEPOSIT >> TRADING >>IF YOU HAVE EARNED MONEY
Usually, you can withdraw money using the same method that the deposit was made. However, there is a limitation, you can withdraw only the amount that was made at the very beginning. The rest is withdrawn through the trader’s bank account. Some e-wallets allow you to make a deposit, but you cannot deposit money from the broker into them.
There are also restrictions related to the withdrawal amount. Some binary options brokers do not allow you to make a withdrawal above a certain amount at once. They make withdrawal amounts at somewhat smaller amounts. This is not always a problem, but you should always check how the withdrawal is done from the very beginning.
A few things to think about
When we deposit money into a bank account, it earns from the commission we pay. Interest on a loan or on a transaction. Do not be surprised when you withdraw funds from the broker and receive a smaller amount. And you should always remember that there are things that depend on the broker, and there are things that depend on the law.
Let’s think about it and look a little deeper. What happens if all traders of a binary options broker want to withdraw money at the same time. The company’s balance sheet will be immediately zero. This is the reason why neither the bank nor the broker wants to withdraw your money right away. Just for the reason that there is not enough money for everyone. Since some are in working condition, namely in open transactions.
Why is the withdrawal of money through a credit card restricted? Think about it. This is the same as canceling a transfer. For example, you made a deposit of $500 and, after earning, wanted to withdraw money to the card. The first thing that is done is that the first transfer is canceled. This is not beneficial for banks, as they lose money (commission). The broker also loses on the transfer.
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Stay calm when withdrawing your funds
When you buy something online, the process is quick and easy. Then you are satisfied, and so is the seller. However, if you want to change or cancel an order, it becomes more complicated and confusing. You need to return the request, send confirmation and documents. Also, the cancellation must be in a certain period of time.
Until you get the money back, it will take several days, and sometimes weeks.
You may wonder why by making a withdrawal request you will receive money in at least 5 days. You need to send all documents and supporting documents. While the whole process is happening, the money remains in your account.
You can get a call from a representative of the broker, with a special offer. Or you will be given a super strategy and asked not to withdraw money, in the hope that you will leave your money with the broker and cancel the withdrawal.
This is also one of the reasons why many brokers do not use PayPal that allows you to withdraw money immediately.
READ ALSO: What to do if a binary options broker does not withdraw your money?
What you need to do to speed up the withdrawal process
If you do everything on time, you can speed up the process of withdrawing funds from a binary options broker. The most basic thing is to read the broker’s terms and conditions. Pay attention to whether it is possible to withdraw money when you have a bonus.
- Before making a deposit, please provide all the documents:
- Proof of Accommodation
- Passport
- Confirmation of the transfer.
So that you do not have delays in the withdrawal, it is best to prepare immediately before submitting the documents.
The main rule is to immediately start trading only and
a proven honest broker
