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Binary Options Withdrawal

Make Money TradingWhen you decide that it’s time to withdraw some or all of your money from your binary options broker, you have a few choices. Most brokers will allow you to have one free withdrawal per month, so timing your withdrawals correctly is important if you wish to avoid the fee that is attached to multiple withdrawals. Once you do decide to withdraw, you can choose between a wire transfer to your bank account or a credit back onto the credit card that you originally funded your account with. The choice is up to you, but there are a few things you need to know.

Risk Warning – “Investors can lose all their capital by trading binary options”

Neither credit card payments nor wire transfers are instant. If you want your money, it is highly unlikely that you are going to get it out as quickly as you were able to put it in. This might frustrate you, but this is just a part of doing business and is unavoidable. So if you do need instant access to your money, it is best that you not invest too much of your own capital into binary options. Remember, you want to avoid putting money that you need to get by from day to day at risk like this.

Making a Withdrawal
Most brokers require that your withdrawal be processed in the manner that it was credited to your trading account. If you used a credit card to fund your account, you will receive a credit back onto your card. If you made a wire transfer, you will have the money wired back to your bank account. This is pretty straight forward.

Withdrawals are usually pretty easy to do on your part, but you will have to wait, sometimes several days, before you receive your money.

24Option has a minimum credit card withdrawal amount of $10. The only maximum with this broker is the amount that you have in your account. This doesn’t include unfulfilled bonus monies if you haven’t completed the trading requirements to have unlocked this amount fully into your account. If you want to make a wire withdrawal, the minimum amount is $100. Remember to read the terms on their site before making a deposit.

Other brokers will vary with these withdrawal amounts, so make sure you are aware of what the minimum and maximum standards are for your particular broker.

Multiple Withdrawals
As mentioned above, many brokers will charge you if you have more than one withdrawal during a calendar month. 24Option has a fee of $30 for multiple withdrawals. This is right about at the industry standard as far as fees go. Still, you can make a withdrawal request at any time during your trading time.

The best policy you can adopt is to budget your funds appropriately. If you can eliminate these multiple withdrawals fees, you will save yourself a little money. This is important because several little fees can quickly add up. Of course, it is impossible to account for all emergencies and you might need to make more than one binary options withdrawal per month at times, but minimizing this will be in your best interest.

VIP Accounts
Some brokers have perks for their high rolling clients. For example, a Platinum member at 24Option will never have to pay withdrawal fees. On the other hand, a regular account holder will only get one free withdrawal at this broker. Obviously, it pays off to have more money in your trading account, but this isn’t realistic for all traders. The less money you have in your account, the more careful you need to be about timing your withdrawals.
Many people find that withdrawing money from a binary options broker is a big hassle, but the process is fairly straightforward. There is a bit of waiting, but this is usually because of slow moving banks and banking procedures. Be patient and don’t trade with money that you will need right away and you can avoid the frustration that is sometimes associated with the withdrawal process.

Risk Disclaimer