IQ Options trading is becoming extremely popular in Singapore thanks to convenient methods of funds withdrawal from the account
Binary options are electronic contracts with a fixed high revenue.
Binary options allow profits on the shares of various companies, goods and currencies; not only on the growth of their rates but also on the fall. It is an opportunity to earn big money simply by determining whether the asset’s market rate will rise or fall. The whole principle of trading is very simple, and no programs need to be installed.
Singapore seeks an opportunity to gain its share in the trading market. According to a report published by Bloomberg, the country's authorities are encouraging the creation of local trading platforms, since foreign exchange transactions are now carried out mainly through Tokyo and London, ie., outside the country. This is due to the fact that financial institutions place their trading capacities in these cities. It means that the execution of transactions for Singaporean traders takes several milliseconds more than for the rest. However, for traders, these milliseconds matter.
For today, there are more than 600 financial institutions based in Singapore. These include banks, insurers, forex brokers, etc. The operations of these organizations are regulated by the Monetary Authority of Singapore (MAS). It has the right to act as the Central Bank of Singapore, make decisions for the country's foreign exchange reserve, develop Singapore as a financial center, and of course - regulate trading. To do business in Singapore, a broker must obtain a license from MAS.
IQ Option How to Deposit Money?
The procedure of making a deposit to the account is usually simple. All trading resources offer readily available options for replenishing an account. Besides, the possibility of making a deposit to a new account becomes accessible at the time of registration. So, investing in binary options can start immediately after opening an account.
This diversity has allowed customers from all over the world, including Singapore, to successfully replenish their accounts. For traders who prefer alternative methods, there are brokers using a number of different methods of replenishment, which may be important when choosing a broker to trade.
One of the essential parameters for trading is the minimum amount for a deposit. Beginners, as a rule, do not have significant funds for investing. New users usually want to test a trading platform. Hence, they are not interested in investing a significant amount only to understand if the broker's conditions are acceptable for work. The IQ Option deposit time has very good starting conditions. Trading can start with only $10 on the account.
What are the proven methods of deposits?
A user can transfer funds to his account using the services of the following payment systems:
Assets will arrive at a trading deposit within minutes. VISA and MasterCard are the most convenient option for replenishing your account balance if you do not have electronic wallets in other payment systems. Similarly, other payment systems will work well for the IQ Option deposit money feature by following a few steps:
Choose the payment method from the variants proposed by the broker;
Indicate the transfer amount;
Follow the instructions (as a rule, fill in several fields);
When depositing funds, the user is offered a bonus in the form of a percentage of the deposited amount. This opportunity allows the assets to be significantly increased in the trading account. However, do not forget to put a tick in front of the amount, otherwise, the gift will not be awarded. Users must understand thatsuch a freebie imposes certain obligations. In order to take profits made with the participation of such funds, it is necessary to purchase contracts for an amount exceeding the bonus by 25 times.
The broker also offers a promo code that doubles the capital when replenishing. The difference between this code and the bonus when replenishing is that the IQ doubles the amount, regardless of the amount of replenishment (starting from $100).
How to Withdraw From IQ Option?
The main objective of the binary options trader is to accumulate funds and get access to the profit. The last action is the final and most enjoyable stage in the whole complex of operations that are conducted on the broker's resource. The ease and speed of this process are the main criteria when choosing a platform for trading. Also, further work with the resource depends on the success of transferring funds from the trading account.
There is a certain procedure to transfer the earned funds into a bank account or e-wallet of payment systems. The procedure is carried out only if the trading account has a specified amount indicated in the request.
To transfer funds, the application needs to be properly filled in. The user can do this in the corresponding section ‘My Account.’ This is the individual part of the resource. It displays information about the balance, about all operations performed, the history of communication with technical support, and the accrued bonuses (as well as other important things).
Thus, the user has to enter the site under his account, find the menu item ‘Personal Account’, and select the menu item ‘Withdraw funds.’ The system will immediately suggest choosing a method of payouts. IQ Option allows transactions to a bank account or debit card, to an electronic payment system accounts, among which are QIWI, WebMoney, Yandex.Money, or Skrill.
The user should fill in the fields designated for personal data (card number, account, or e-wallet number),specify the amount, and send the application. The status of the application can be tracked in the section ‘Transaction History.’ If the status has changed to ‘Completed’, it means that the application has been approved and the assets have been sent. Now you just have to wait for their arrival to the card.
What is the Time for Withdraw IQ Option?
The duration of the funds-receiving process depends on the speed of processing applications. Usually, the broker needs about three working days (although some users report it takes only 24 hours with Webmoney). If the operation is performed for the first time, it takes a little longer since the security service must conduct appropriate checks. The advantage of the IQ broker is the lack of service fees as well as the absence of restrictions on the number of transactions per month. In some cases, the procedure can take only an hour and a half.
How to Avoid Issues with IQ Option Withdrawal?
By studying the reviews on payouts, a beginner may form the opinion that the probability of payments is determined simply by luck. Indeed, why do some traders have no problems with payments while others literally encounter all sorts of obstacles at every step?
Before replenishing a trading account, it is strictly recommended to carefully read all the documents regulating a broker’s activity. These details are usually presented on the broker's website. Surely, many terms and definitions may be not very clear. But the user should not be shy to contact technical support with the relevant queries. And until all questions are answered, it is better not to deposit anything.
The second step is account verification right after the registration. It should be done before transferring costs to a trading account. When the account has acquired the appropriate status, you can replenish it with money. Various document discrepancies can cause issues.
If the request status has not been updated within three business days, the user should immediately contact the technical support team. Perhaps there were serious obstacles in processing the application, or perhaps they simply forgot to process the application due to the human factor. Note that the minimum IQ Option withdrawal amount is $2.
It is also recommended to identify Internet resources within which brokers communicate with company customers. This can be useful in case of problems or misunderstandings when communicating with technical staff. Reputable brokers have forums and they closely monitor their outstanding queries. Company representatives can sometimes do more for their clients than technical support staff. This is because the company has reputational risks, which brokers try to avoid in every way.
IQ Option services are popular enough among a large number of traders. Moreover, many of these traders are regular customers and enjoy good revenue. Accordingly, IQ Option withdrawal reviews prove that there are no problems with payouts. Hopefully, this article will help a novice trader work out his own approach and strategy for building a relationship with a broker. Following the above recommendations, the user will avoid a number of issues. Engaging in the correct activities will speed up payment processes if these work more slowly than expected.