Online binary options are a lucrative trading way. When investors have generated sufficient profits then they certainly will desire to withdraw this cash. Some newbies may find it confusing because of all the rules and requirement that needs to be fulfilled during withdrawal process. A few event think that the brokerage platform is intentionally trying to execute weird rules, so as to hinder their customer’s withdrawal request.
Actually, all the withdrawal T&Cs designed by brokers are practical. Let’s learn more about binary options withdrawal process.
Binary options cash out process is common all across the brokerage firms. It means the withdrawal process at one brokerage is similar to the other.
Enter the withdrawal amount
On the brokers website access cashier’s page to withdraw money. You need to enter the withdrawal amount. Some brokerage may have minimal withdrawal requirements. It means you are limited to withdraw a certain amount of your profit. This kind of limitations is unfair to those trading in small volumes. Therefore, avoid such brokers and find those, who have no restrictions on the amount you withdraw from your account.
Choose payment processor
After filling the withdrawal amount, you will have to choose payment processor that handles the monetary transfer. Variety of tools like wire transfer, credit cards, and e-wallet can be used in financial trading process.
Now, you just need to confirm the transfer. A support staff at the brokerage firm will check your withdrawal application and process it. You will receive money within a week. It depends on your chosen payment processor.
Why there are waiting times for withdrawals?
No instant amount will be deposited in your bank because the process is not automated. It is done manually and there are thousands of withdrawal requests to be handled daily, so the brokers support staff need some time to process the transfer.
In addition, brokers need to screen withdrawal process including whether you earned the winnings legitimately or used software hack.
Withdrawal process can take a week because they need to follow the legal steps. It is not made up to delay withdrawals, so that traders continue to trade and possibly lose their money. Brokers need to comply the laws or else they will lose their license.
Can money be withdrawn anytime?
Obviously, it is your winnings, so you can withdraw it whenever you need. Brokers who oppose this are not regulated. Deposits cannot be received immediately, if bonus is already accepted. Bonuses are also offered on initial deposits. It is a strategy broker applies to attract investors. However, such free bonus accompanies a stipulation like you will not be able to withdraw deposit and bonus till specific conditions are fulfilled. Detailed conditions may be executing specific trade volumes or purchasing specific number of contracts before they place a request for withdrawals.
Such stipulations make sense. If brokers allowed traders to withdraw deposits & bonuses instantly then people would register at multiple brokers, make deposit earn bonus and instantly withdraw both.
Look for legitimate brokers with uncomplicated withdrawal needs and process. In addition, there must not be any weird terms & conditions for withdrawal. If you fall for binary options scam then take professional help. Binary recovery lawyer will surely guide you.