IQ Option was established in 2013 and is a CySEC-licenced broker recognised in the industry for its innovative platform and favourable sign-up terms for new clients. On the platform, clients can trade with classic high/low, turbo and 60 second binary options and choose from a range of over 70 tradable assets.
IQ Option offers a range of different withdrawal methods and with its multi-lingual customer support team on hand who are contactable via email, live chat, Skype or web form, clients can be assured that there will always be someone on hand to deal with any questions regarding withdrawals. The withdrawal process is a simple procedure which traders can undertake in minutes, as and when required, after IQ Option’s client verification process has been approved.
IQ Option is one of the industry’s newer brokers and with speed and ease of withdrawal always of paramount importance to a trader, we look to this broker’s procedures and track record in order to establish whether traders can proceed to trade and withdraw their funds in confidence.
IQ Option Withdrawal Steps
The withdrawal process at IQ Option is straightforward with several ways in which clients can withdraw money. All a trader needs to do is access the withdrawal form on the website, fill out and submit the form. Withdrawals can take up to 72 hours and there is a requirement that traders should be verified prior to this process by providing a selection of identification documents. These include scanned copies of photo ID such as an identification card, driver’s license or passport, along with a copy of a utility bill in the client’s name e.g. water, electric, phone bill or bank statement.
IQ Option will withdraw the client’s funds by making a bank wire or transfer to the credit card that was used when the deposit was made following the client’s withdrawal order but will endeavor to withdraw their funds in accordance with their chosen method.
IQ Option Withdrawal Methods
IQ Option offers its clients a choice of withdrawal methods which are processed by its compliance department on request. Payment methods include including debit/credit card (Visa/Mastercard), bank wire transfer and a selection of e-wallets including Skrill and Neteller. The withdrawal process usually takes place within 3 banking days after receiving a withdrawal request instruction from the client with the transferred amount reducing the balance of the client’s trading account on the day the withdrawal request is processed.
The minimum withdrawal amount is $10 and there are no commissions or hidden fees. Traders should note that they will be required to pay any incurred bank transfer fees when withdrawing funds into their designated bank account.
IQ Option Withdrawal Proof
IQ Option Bonus Withdrawal
IQ Option offers its clients an attractive range of bonuses which are credited to their account subject to compliance with the terms of the offer. In terms of withdrawals, clients should be aware that unless stated otherwise in the terms of the offer, the precondition for making bonus withdrawals is the purchase of options 35 times the amount of the deposit bonus.
In the case of a non-deposit bonus, clients are required to purchase options of 50 times the bonus amount before being able to request a bonus withdrawal. Transactions with ‘equal’ results i.e. the strike price equal to the price expiry are not included in the calculation of the required trading volume.
IQ Option Withdrawal Summary
On the positive side, IQ Option is a CySEC registered broker with a collection of industry awards which may suggest it is a legitimate broker.
However, after conducting a detailed investigation into the withdrawal policy of IQ Option, it is apparent that there a fair number of complaints from traders, mainly in connection with delayed withdrawals, some of which relate to their bonus scheme. While some of these complaints have been resolved or are unfounded, there still remains a number of unresolved cases. For this reason, we would urge clients to thoroughly check their withdrawal policy prior to trading with them or to consider another broker with a preferable withdrawal procedure.