A quest to find a well-established binary broker which will not just provide traders with the outstanding trading platform and features but also with a secure withdrawal process.
To provide global traders with more information on how to make withdrawals from regulated brokers we will describe the process with three prominent regulated brokers.
An aspect of binary options trading which is sometimes pushed aside in favour of possible attractive profits or trade options is the security of the trading platform.
Binary options trading is an online venture and option for a broker who has security measures in place is of crucial importance.
While this seems like an easy enough task, with over 300 binary brokers on the market it can take some time to find the one which will tick all the right boxes.
However, making sure that the binary broker provides a safe trading platform is something we strongly advise that traders inspect immediately.
Pay Attention to Trading Platform Security
Due to the fact that traders which take up binary options have to submit both personal and financial information, it is vital they know what sort of security is provided by the broker.
On Binary Preview, we always strive to review binary brokers who take the issue of security seriously. In most cases, binary brokers make use of SSL technology which protects all information by encrypting them.
In actuality, it is very easy to determine if binary brokers use proper protection by simply inspecting the URL area on the broker site. A small green padlock as well as green HTTP letters are displayed, indicating that the site is safe.
To demonstrate what to look for, we have elected three regulated binary brokers and we shall explain how to make withdrawals from regulated brokers.
How to Make Withdrawals from 24option?
24option is one of the most popular binary brokers on the market and it has not only managed to build a long-standing reputation among traders, but also takes great care to provide traders with the abundance of helpful information.
We strongly advise global traders to inspect both their Education tab as well as their FAQ section. This binary broker is CySEC regulated and provides standard SSL security on their trading platform.
To withdraw money from 24option regulated binary broker, traders will first have to fill in submit a withdrawal request. When the request has been approved, global traders may expect their funds within 5 business days.
However, traders also have to keep in mind the fact that they have to submit certain documentation prior to submitting a withdrawal request as 24option complies with the KYC policy. The KYC policy serves as an additional protection against fraud, money laundering and identity theft.
Traders are required to submit proof of residence such as the copy of the utility bill and the proof of identity such as a copy of the photo ID.
24option provides an extensive variety of payment methods which include the following:
- Debit/credit cards –Visa, Visa Electron, Diners Club, JCB, MasterCard, Dankort, Cartasi, Laser…
- Bank wire
- E-wallets – Skrill, Perfect Money, OKpay ect.
However, since 24option has a very detailed and specific section concerning payment methods, traders are advised to consult the broker FAQ section.
The withdrawal methods can vary greatly according to the country of residence.
In the FAQ section, traders can open Banking, select their own country and consult the table which provides info on which payment methods are available.
With 24option, the minimum withdrawal is set at $100. They also charge following fees which also depend on the payment methods: Credit cards – 3,5%, Bank wire fee – $30, Skrill – 2% and Neteller -3,5%.
24option registered traders which are holders of Diamond and Platinum accounts, no withdrawal fee is charged.
Traders which are holders of other 24option account types account can make one withdrawal a month free of charge while other withdrawals are charged according to set fees.
How to Make Withdrawals from IQ Option?
Further in our how to make withdrawals from regulated binary brokers article we also inspected the process with IQ Option.
This CySEC regulated broker first became available to binary traders around the world in 2012.
IQ Option offers their registered traders a modern and effective proprietary trading platform which, as is expected from a regulated broker, also has top-notch protection. This guarantees that all data, be it personal or financial is safe.
The official IQ Option representative will contact the traders to provide all the necessary instruction on which documents are necessary and how to send them.
Traders may opt to use credit/debit cards like Visa and MasterCard, e-wallets like Skrill, Neteller and WebMoney and the standard bank wire transfer.
With IQ Option, requests are generally processed within 3 business days with further 2 – 9 business days necessary for the funds to appear on the trader’s account.
This is very much dependent on the payment method used. IQ Option does not have a minimum withdrawal amount set but amounts of less than $2 cannot be processed.
How to Make Withdrawals from Daweda Exchange?
Despite the fact that Daweda Exchange is a fairly new entrance on the binary market, traders have already recognised the quality of service this broker provides. This is also a CySEC regulated broker which provides traders with several payment methods.
To withdraw money from Daweda Exchange, traders have to send a withdrawal request specifying the exact amount they wish to withdraw.
The amazing advantage of trading binaries with Daweda Exchange is that their withdrawals are processed within 24 hours. The first withdrawal per month is free, while each consequent one for that month is charged $25.
Payment methods available to global traders are:
- Bank wire transfer
- Debit/credit cards: MasterCard, Maestro, Visa and Diners Club
- E-wallets: WebMoney and Skrill