When you Google how to cash out on IQ Option, you’re in for a treat. It means you made the right predictions and were successful in your trading.
Check out some important notes before you cash out for the first time.
How to withdraw from IQ Option without fees?
Every trader can make one commission-free withdrawal from IQ Option per month. All subsequent withdrawals come with a 2% fee. The fee limit is 125 BRL.
Transactions in a different currency are subject to conversion. The conversion rate depends on the payment method.
How long does a withdrawal take at IQ Option?
From one day to several weeks. The broker processes the request in one to three working days. Your bank may require more processing time.
It usually takes one day to receive money in an e-wallet. The waiting time can be seven to nine days for bank accounts. Most traders prefer e-wallets because they are faster.
IQ Option: how to withdraw to a bank card?
A bank transfer at IQ Option requires your full name, as on your ID card, and your bank card number. The broker accepts any Visa, MasterCard and Maestro cards. Here are the important limitations to keep in mind.
- Use the same card you used to make the deposit. An IQ Option withdrawal to a bank card is technically a refund.
- Calculate the total amount of deposits in the last ninety days. The withdrawal amount must be equal to or less.
Example.
You have deposited BRL 1,000 in the last three months. Your profit is 10,000 BRL. You want to recover 5,000 BRL. To do this, first request a BRL 1,000 withdrawal to the card. Use another payment method for the remaining 4,000 BRL.
You will receive the money in 21 days or less.
How do I withdraw money from the IQ Option Trading Room?
1. Check your account
Complete the three-step verification process first.
- Verify your identity with a copy of your identity document.
- Check your address. Attach a utility bill (water, electricity, gas, telephone, Internet) for where you live.
- Check the payment method. Send a copy of both sides of your card.
This data will go to moderation. IQ Option withdrawals are unblocked after approval.
2. Make a request
Click on your account balance menu in the trading room. Select “Withdraw funds”.
3. Select your payment method
Choose a bank card or e-wallet of your choice.
Specify the payment details. These may vary depending on the method you choose.
Withdrawals by boleto and wire transfer require the RSI number. Skrill will ask you for your phone number, etc.
Pay attention to this step. Errors in payment information are a common reason for cancellation.
It’s a good idea to use the same method for withdrawals and deposits at IQ Option.
4. Choose the value
The minimum withdrawal at IQ Option is $ 10. The maximum can be up to $ 5,650,000. Please note that your payment system may have limitations for transactions.
5. Check the status of your request
Follow the status in the History section.
Requested: the request is in progress.
On hold: provide extra documents.
Funds sent: operation completed.
Canceled: the operation failed.
Many things can cancel your withdrawal at IQ Option. Watch out for the following to prevent this from happening.
- Check that you have filled in all the fields of the application correctly.
- Using an e-wallet? Check your account with your service provider first.
- Using a virtual card? Check if it can receive refunds (because some can’t).
- Depositing with Bitcoin? Choose e-wallets or a local bank transfer for withdrawal.
Now you know how to withdraw money from IQ Option! It’s time to proceed to the trading room and create your first request! Contact the Customer Support team if you have any questions.
Have a great IQ Option withdrawal experience!
After reading this article, you can start cashing out by opening a demo account on the IQ Option platform, and get to know the most interesting trading strategies.
