Withdrawal of funds from Binary.com broker

Binary – is a well-known broker who started his work in the field of binary options trading in 1999. Today, the number of active users of the platform has reached 1 million people, which indicates the popularity of the service. Binari has its own pricing technology, which allows clients to make the same profits as on the interbank market.

Also different. Binary Options Broker Competent technical support, which is ready to help newcomers, the absence of hidden commissions, the availability of free webinars, market reviews and e-books. The modern site has many useful options and useful content. Trading is done with SmartTrader, one of the leading programs on the market. It doesn’t need to be downloaded and separately installed. After registration, it is possible to work directly in the browser. The terminal has no unnecessary options and details, it is simple and convenient even for beginners.

 

Withdrawal of funds from binary options brokers

When trading binary options, it is necessary not only to deposit the account and make successful trades, but also to know how to withdraw the earned funds. Each broker has its own nuances and rules, withdrawal methods, minimum amounts. Also, the possibilities of withdrawal of bonus funds may differ. There are several recommendations that will help to minimize the risk of withdrawal rejection or long processing time:

• Get verified after the registration procedure. If the company does not require proof of identity, it is worth preparing scanned copies of documents in advance. Probably, when making the first withdrawal the broker will ask to provide them. You may also need to verify your bank card and address.
• Register only once. Often clients create several accounts. But some brokers have a rule that one user must have 1 account. Otherwise withdrawal of funds can be refused.
• Make sure that the name of the account owner and the details, to which the application for withdrawal is applied, are the same.
• Apply at the beginning of the week. Although companies often promise to make the withdrawal in a few hours, the agreements prescribe terms of 1 to 3 days. Therefore, applying at the end of the working week, you can increase the waiting period for the weekend;
• Do not withdraw large sums from the beginning of work with the broker. You should do so until the total amount reaches the amount of the initial deposit. Otherwise, the company may check the application more thoroughly or even block the account for the time of checking.

An application for withdrawal is made in the personal cabinet. Small amounts can be withdrawn automatically, large amounts are checked manually. The time of consideration, details of verification and the need to provide documents or other information depend on the broker and its rules. When the application is approved, the money is deducted from the client’s account and sent to the specified details in the chosen method. After that, everything depends on the bank or payment system, the broker has no influence on the time of receipt of money.

Withdrawal methods at brokers

Most often, brokers of binary options allow you to withdraw funds in the following ways:

• transfer to a bank card or account;
• to the wallets of payment systems in electronic currency;
• in cryptocurrency.

All methods, deposit and withdrawal times, conditions and rules should be spelled out on the broker’s website. Withdrawing to a bank card is a convenient way, but in this case there are a few nuances that one should be aware of. Thus, the broker may require the verification of the card, providing its scanned copies. That’s why it’s better to use personal cards, in order to be able to prove that the client is the owner of the account. Often brokers limit the withdrawal amount to the sum, which is equal to the account deposit. For example, having deposited $100 to the account, a similar amount can be withdrawn to the card, and the balance can be received to the wallet of the selected payment system.

As a rule, the method of withdrawal is tied to the method of deposit. This means that the money can be withdrawn to the card from which the funds were transferred to the broker’s account. Depending on the direction, there may be restrictions on the amount. This should be clarified at the beginning of work with the broker if such withdrawal method is planned. If the funds will be withdrawn to a bank account, full bank details will be required. This method is also the most time-consuming – the money may take up to 5 business days to be withdrawn. Therefore it is better not to withdraw large sums to cards or bank accounts.

Among payment systemsThe most popular brokers offer to withdraw funds to Yandex.Money, WebMoney, Qiwi, Skrill, Payeer, Neteller, Advanced Cash. At PayPal money is not withdrawn, as this system often blocks wallets for the sake of security. This way users like the speed. As soon as the broker approves the application and transfers the funds from the client’s account, they will be credited to the wallet.

The speed of withdrawal of cryptocurrency money may be slightly different from the time it takes for them to arrive at the PS wallets. The reason is that after withdrawing funds from the user’s account, it is necessary to wait for network confirmation (it may take several, it all depends on the system). Only after that, the coins will go to the client’s wallet. This method is interesting because until the withdrawal the cryptocurrency is anonymous, which is convenient for those who earn large amounts. Both for cards, payment systems and cryptocurrency, the application process is similar. The form specifies the number of the wallet or card, and then the application is checked and approved.

Minimum amount to withdraw

As for the minimum withdrawal amount, it all depends on the broker and the payment system used for work. These amounts may vary from 5 to 10 dollars or euros (other currencies are also possible, if the company offers them). Information about the minimum withdrawal amount, as well as about the maximum, should necessarily be specified on the broker’s website, as it is done at Binari:

Withdrawal fees

Each broker can set its own withdrawal fees. The company can specify the amounts for each option or spell out in the rules that it has the right to charge commissions at its discretion.

 

Withdrawing funds from Binary

Information about deposit and withdrawal can be found in the “Finance” section of the site binary.com. It has “Cashier” pages, where you can deposit funds, and “Payment Methods”. There is a detailed description of the systems the broker works with, the minimum and maximum amounts, as well as the time of crediting money to the account.

The broker offers a withdrawal by bank transfer via Bank Transfer, PayTrust, ZingPay, Help2Pay, Dragon Phoenix. You can also get money on Visa, Mastercard, Maestro cards. The administration warns that the withdrawal via Mastercard and Maestro only works for users from the UK. Proposed and a large list of payment systems: FasaPay, Perfect Money, Skrill, Neteller, WebMoney, QIWI, PaysafeCard, Jeton, Sticpay, Airtm. You can deposit and withdraw money using Bitcoin, Ethereum, Litecoin, Tether cryptocurrency.

The company may, at its discretion, perform procedures under the EULA (“Know Your Customer”). This means that the user may be required to provide identification. The broker has the right to suspend activity on the account until documents, proof of identity and address are provided. Proof of source of funds may also be required. Documents within the policy:

If the documents expire, the company may request valid documents. Withdrawals can only be made in the name of the account holder. If funds are deposited by bank transfer, the money will only be transferred to the owner of that bank account. The client must provide the correct account number and indicate his name for the transfer. If an account is funded via bank card, withdrawals will also be made to that card only. Only one account per person is allowed. Withdrawal or compensation will not be transferred to accounts that are opened in a fictitious name, or to multiple accounts opened by the same person.

How do I withdraw funds from binary.com?

To withdraw funds from the broker’s account, you need to log in to your cabinet. If the amount is sufficient to make a request, you should go to the “Cashier” section and click on the “Withdrawal” button.

A verification link for withdrawal operation confirmation will be sent to the email indicated at registration. In the opened window you should specify the amount and choose the withdrawal method and fill in the payment details.

After that you can enter a comment and click on “Request a payment”. After that another email will come with confirmation of the request and information that after the money transfer the client will receive a notification about it.

The minimum amounts can be found in the “Payment Methods” section. If the company does not require proof of identity and address, funds will be transferred within 1 business day after application approval. If verification is required, the client will be additionally informed about it. In this case withdrawal of funds will be possible only after receiving the necessary documents and application confirmation.

Withdrawal fees

The exact amounts of commissions are not listed on the site. The “Terms and Conditions” section contains the following information:

Withdrawal speed at Binari broker

Withdrawal deadlines are listed in the payment methods section. For bank transfers, cards, payment systems and cryptocurrency they are 1 working day. In case of cryptocurrency it will take 3 confirmations of the network. There may also be a delay if identity and address confirmation is required.

 

Conclusion

Binary is a broker that offers many ways to deposit and withdraw (withdraw funds from the account). It is not only bank transfers, cards, wallets of electronic payment systems, but also cryptocurrency, which is not found in all companies. There is little information about the broker’s commission. The administration indicates only that it can set its size at its discretion.

Withdrawal periods are short. As a rule, you can get your money within 1 working day. But the company may require proof of identity, address and source of income at its discretion. In this case, there may be a delay in consideration of the application until the end of verification of documents.