If you’ve struggled before with withdrawing your earnings from a broker, now you’ll find IQ Option a great improvement, which offers fast and hassle-free withdrawals. In this guide, I’ll walk you through the withdrawal process, options and limitations using this broker. I’ll also throw in some pointers on how to invest your earnings properly.
The great thing about IQ Option is that it offers a free demo trading account that you can test drive if it’s your first time to come across the company. You get virtual funds that you can use for simulated/demo trading or, if you want, for real trading simply you can deposit real money to IQ Option. Minimum Deposit amount in IQ Option is USD 10 & minimum Trade Amount is USD 01.
You can sign up for an IQ Option free demo account here to try first-hand its trading tools, features & other aspects.
Withdrawing Money from IQ Option: Best Methods and Tips
IQ Option processes all withdrawals within one business day & totally free of charge, but how soon the money actually gets in your hands and how much else you pay after IQ Option depends on whether you are withdrawing through credit or debit card, wire transfer or e-wallet. Check out the different withdrawal methods on IQ Option below.
1. Credit Card/Debit Card Withdrawal
Withdrawing funds through a credit card or debit card is the preferred choice of withdrawal at IQ Option. Currently, IQ Option accepts funds withdrawal from following bank cards: Visa, Visa Electron, Maestro and MasterCard.
In case you are having reservations about conducting funds withdrawal through your bank card, you may rest assured from the fact that the broker IQ Option boasts the first highest Payment Card Industry Data Security Standard, merchant level.
2. Wire Transfer Withdrawal
There are a number of reasons why you may want to use wire transfer only as a last option to withdraw money from IQ Option. As with e-wallets and bank cards, IQ Option processes wire transfer withdrawal requests within 24 hours. Once such withdrawal requests leave IQ Options, however, they usually take a longer time (up to 3-12 days) to complete processing by the banks in which you hold an account.
One of the best methods to withdraw your winnings is via an e-wallet. It is usually provided by a third-party provider or payment gateway as paid service. E-wallets are not without issues though, but if you stick to the popular ones like Skrill, you’re less likely to encounter problems. Below, we list the most popular e-wallet channels used for IQ Option.
Recommended E-Wallet Providers
Now I’ll explain about how to withdraw money from IQ Option using e-wallets? Here I’ve listed the different providers with a few tips, one that will allow you to use this channel to get your earnings.
Skrill is based in London, United Kingdom as a third party payment gateway. While registration, it asks for your email address to be used as your account login. You have a chance to activate a two-factor authentication on Skrill for additional security. You can link your bank account or credit card with Skrill but expect the verification process to take some time.
Make sure that your preferred currency in your account is one of the 40 countries accepted by Skrill. Skrill does not operate in Latvia, Afghanistan, Cuba, Myanmar, Nigeria, Somalia and Yemen. It is also not available in Iraq, Eritrea and Libya. Keep in mind that Skrill sets a maximum limit to your transactions.
Neteller’s has its Headquarter at Douglas, Isle of Man, Neteller requires you to verify your account first before you could retrieve your funds first time. To do this verification, you have to submit a bank statement issued not later than three months ago. Neteller limits both minimum and maximum transaction amounts, the latter depending on your choice of currency. Neteller supports 26 national currencies, which you can verify on its website indicated above.
For account login you will use your email address, which you’ve submitted during the registration process. It offers what it calls Net+ Prepaid Card in few countries which you can conveniently use for direct money transfers.
Neteller does not operate in Afghanistan, China, Cuba, Eritrea, Iraq, Kyrgyzstan and Libya. It offers limited services in the following countries and territories: France, Germany, Hong Kong, Italy, Macao, Singapore, Spain, Turkey, UAE and the United Kingdom. In most Arab countries banks do not work with it. Users from these countries may want to use WebMoney or Skrill instead.
WebMoney has its Headquarter at Moscow, Russia, WebMoney has won several awards in 2016. No bank account or credit card is required to open or operate with WebMoney, making it accessible to many people. WebMoney supports 8 different currencies and assets, which can be verified on its website through the link above.
WebMoney does not operatef in the following states and territories: American Samoa, Afghanistan, Algeria, Angola, Bosnia and Herzegovina, Ecuador, Guam, Guyana, Indonesia, Iraq, Laos, Libya, Mali, Mauritania, Myanmar, Northern Mariana Islands, Panama, Papua New Guinea, Somalia, Yemen, Uganda.
Boleto is a payment method in Brazil country, where it is officially known as Boleto Bancário. It is regulated by FEBRABAN, short for Brazilian Federation of Banks. A boleto can be paid at ATMs, branch facilities and internet banking of any bank, post office, lottery agent and also at some supermarkets until its due date. After the due date Baleto can only be paid at the issuer bank facilities.
It can only be collected by an authorized collector agent in the Brazilian territory.
FasaPay is An Indonesian electronic payment system based in Orchard Road, Singapore, FasaPay allows maximum withdrawal of US $75,000.00 and just a minimum US $1 per transaction. You can do multiple transactions each day at fees ranging between free to 5%.
Note that you must be a verified account holder to make transactions at FasaPay. To be a verified account holder, PasaFay asks for submission of bank documents.
FasaPay currently supports only US dollar and Indonesian rupiah (IDR) currencies.
Steps to Withdraw Money from IQ Option
IQ Option has an identical algorithm for fund withdrawal regardless of the mode of payment you choose. To proceed with withdrawing funds from IQ options, you need to do the following:
- Go to iqoption.com
- Sign in
- Click on the user pick at the upper right-hand corner of the screen
- Now select “Withdraw Funds” from the list of available options
- Click on the desired payment system
- Follow the specific instructions indicated there