Trading on the financial market is costly, as there are development costs, platform costs, transfer costs, etc.
Watching your balance grow and making withdrawals is one of the most enjoyable moments for a trader, but it can incur costs. Find out how to avoid withdrawal costs on the IQ Option platform.
Investment platforms involve costs that we often don’t realize. Many of them end up eating up part of your profit, and are even more significant if you are a novice investor.
In this article we’ll go into more detail about IQ Option‘s withdrawal fees in order to assess whether it’s worth trading on this platform and give you tips to avoid losing money.
It’s great to have you here with us again, and if you’ve just come to us, we can’t help but invite you to check out the other articles, which draw on all our experience gained over years of trading binary options to help you become a winner in this market.
As we mentioned at the beginning, in this article we’ll help you understand how withdrawal fees work at IQ Option and the best ways to avoid them, or at least reduce them.
Check them out below.
How to withdraw from IQ Option without fees?
We’re off to a good start, aren’t we?
And it gets even better, because the first IQ Option withdrawal fee is not just free for the first withdrawal, but for the 1st withdrawal every month.
That’s right, you get 1 IQ Option withdrawal fee free every month.
And this is valid for ALL payment methods available on the platform, regardless of how you deposited.
Well, now we need to understand how it works if you want to make more than 1 withdrawal per month, as well as the details and fees involved in these operations.
Deposit and withdrawal methods available at IQ Option
First of all, before we go into withdrawal fees at IQ Option, we’ll summarize all the ways to deposit and withdraw so that we can help you if you don’t already have an account on this platform.
It will be difficult for you to both send and receive money from IQ Option, as the platform has agreements with various players in the Brazilian financial market, which also helps to reduce the cost of withdrawal fees at IQ Option.
Deposit methods for IQ Option
The available forms of deposit methods at IQ Option are: boleto bancário, Visa and MasterCard credit cards and e-wallets (Neteller, Skrill, WebMoney, AdvCash, Perfect Money).
If the payment method you want is not available, we recommend that you consult e-wallets, as they offer their own deposit methods, from which you can transfer instantly to IQ Option.
Just note that e-wallets may have costs for depositing internally, as, for example, there is no fee from Neteller to IQ Option.
Ways to withdraw from IQ Option to your account
If depositing with IQ Option is easy enough, the withdrawal options are even more varied. The main difference is that the main Brazilian banks are available for IQ Option withdrawals free of charge.
In other words, you can make a deposit via boleto bancário or credit card and withdraw your profits to your current account at Itaú, Bradesco, Banco do Brasil, among others.
You can also withdraw to e-wallets such as Skrill and Neteller free of charge from IQ Option.
Among the banks available for IQ Option withdrawals are: Agibank, Banco do Brasil, Itaú, BANRISUL, BMP MONEY PLUS, BNDES, Bradesco, C6, Caixa Econômica, Citibank, Credit Suisse and Votorantim, Inter, Original, Safra, Santander, Sicredi, UBS Pactual S.A.
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 remember.
Use the same card 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.
Loading ...How do withdrawals work at IQ Option?
Well, the no-fee withdrawal benefit at IQ Option is very good, so in order to optimize your profits, our recommendation is that you try to schedule yourself to withdraw once a month.
But we know that following this recommendation 100% of the time is not that easy. It could be the case of an unforeseen need, or even a month in which you earned more than expected and want to reward yourself for it. Believe us, we’ve been there and we understand.
That’s why we’ll explain below how withdrawal fees work at IQ Option from the 2nd withdrawal onwards and also help you minimize these discounts.
What are IQ Option’s withdrawal fees for the 2nd withdrawal?
The withdrawal fee at IQ Option is a flat 2% of the total deposit with a maximum amount of R$125. In other words, 2% is charged until it amounts to 125 reais, any amount in excess of this is not charged.
It’s worth remembering that IQ Option offers the possibility of accounts in different currencies, and the limits are different for each one, as shown below:
- Brazilian Real: R$ 125
- Euro: EUR 30
- Pound sterling: GBP 25
- Russian Ruble: RUB 1500
- US dollar: USD 30
Therefore, we can conclude that since there is a limit of 125 reais on the withdrawal fee at IQ Option, if the second withdrawal you want to make in a given month is for a larger amount, the fee charged could be less than 2%.
Minimum withdrawal at IQ Option
Another detail you should pay attention to when planning your IQ Option withdrawals is the minimum withdrawal amount, as this varies according to each withdrawal method.
For smaller withdrawals, we recommend opting for Visa and MasterCard credit cards, as well as e-wallets, as the minimum withdrawal amount on these is only R$4.
Withdrawals to banks, on the other hand, as they involve bank transfers, which costs the platform more, have a higher minimum amount, which is R$150. Remember that they are free once a month.
If you have an account in another currency, the minimum withdrawal amounts are:
- Brazilian Real: R$ 150
- Euro: EUR 23
- Pound sterling: GBP 21
- Russian Ruble: RUB 2085
- US dollar: USD 27
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.
How do I withdraw money from the IQ Option Trading Room?
Check your account
Complete the three-step verification process first.
- Verify your identity with a copy of your identity document.
- Verify your address. Attach a utility bill (water, electricity, gas, telephone, Internet) from 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.
Make a request
Click on your account balance menu in the trading room. Select “Withdraw funds”.
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.
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.
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!
Conclusion: IQ Option’s fee is worth it
As we explained above, in order to optimize your profits, our recommendation is that you schedule your withdrawals once a month, as this way you don’t pay a withdrawal fee at IQ Option.
But if making a second withdrawal in the month is unavoidable, bear in mind IQ Option‘s withdrawal fee of 2% on the total amount requested.
After reading this article, you can get used to IQ Option‘s withdrawal fees by opening a demo account on the IQ Option platform and getting to know the most interesting trading strategies.
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