Understandably, many novices usually wonder how the withdrawal of binary options profits works.
3 Things You Should Know About Binary Options Withdrawal
Well, the withdrawal process is generally the same across all authorized brokers, with just minimal variations. The rules for binary options withdrawal tend to be quite stringent; something that some traders may frown upon.
Here are key factors about withdrawing binary options:
There are minimum limits
Most binary options platforms only allow you to withdraw if your account has a certain baseline amount. Some platforms require having as little as $10 to be able to cash out while others require as much as $30 and others $100. As you can see, it’s much like a bank account that requires a minimum amount for you to withdraw cash from the ATM. These limits also apply to bonuses. In fact, most brokers will not allow you to withdraw your bonus immediately until your own investment significantly exceeds the bonus. You can still trade with the bonuses but you cannot withdraw some or part of it.
Withdrawal binary options fees are applicable
Once again, many brokers allow traders at least one free withdrawal a month. Other platforms waive the fee for platinum account holders. But, if you have a basic or standard trading account, you may be charged as much as $30 per transaction. Evidently, if you keep making too many withdrawals you will be losing money by eating into your capital investment. The best idea is to manage your bankroll and your own personal finance so that you won’t have to keep cashing out. This allows you to take advantage of the free withdrawal pass offered by your broker.
Methods of withdrawing your binary options profits
Trading platforms offer several methods for withdrawing including credit card or wire transfer. Generally, your cash will be transferred in the same way you paid your deposit. Whichever processes you opt for, you must be prepared to wait between 4 and 7 days to make the transfer. This is a security measure to scrutinize transactions to minimize fraud.
OptionWeb offers guaranteed withdrawals allowing you to cash out safely and with as few hurdles as possible.