IQ Option withdrawal tutorial

The Broker IQ Option must not only ensure a convenient way of depositing, but also a suitable way of paying out the returns. Here the Broker has put together a range of financial service providers that should cover all the preferences of the traders. The following guide “IQ Option Payout” will tell you which payout method brings which features and which payment method has which advantages.

IQ Option withdrawal menu

Important facts about the IQ Option withdrawal:

  • The deposit method determines the path of the IQ Option Payout.
  • The IQ Option payout is available through eWallet services such as Skrill, Neteller, Cash, PoliPayments, WebMoney, and more.
  • The classic payout methods are bank transfer and the credit cards Visa and Mastercard®.
  • The minimum transfer amount is 2 EUR/USD/GBP.
  • The conditions are different for each financial service provider.
  • Please pay attention to transfer fees, amount of transfer, frequency of deposits, and withdrawals.
  • Before the payout, the complete verification of the account must be present
  • The payouts are very fast – a few hours up to 3 days

(Risk warning: 85% of retail investor accounts lose money when trading CFDs with this provider)

How to a withdrawal on IQ Option:

In this section, we want to show you how to do the withdrawal with your IQ Option account. If you are logged into the trading platform you will find the right button in the right upper corner. Click on your account profile or on the withdrawal button:

IQ Option withdrawal button

After that, you will come to the menu which you see in the first picture on this website. Withdrawals are very fast with IQ Option. Often after a few hours, the money is in your bank account. Depending on your country there are different payment methods available:

  • Credit Cards
  • Debit Cards
  • Bank wire
  • Online banking
  • Neteller
  • Skrill
  • WebMoney
  • PayPal
  • ADV Cash
  • and many more

After you decide your payment method you have to type in your withdrawal amount. The minimum amount is $ 2. Furthermore, you will see your withdrawal request below and the status. Be aware that IQ Option can ask for additional documents from you to verify your account.

What to consider before an IQ Option payout:

It is important to note that the payment method is already determined at the time of the deposit and no further account can be specified. This is usually due to the fact that all accounts require personal identification and the company has to prove this in the long run. Each additional account per customer therefore means additional work and even more storage space.

Therefore it is common that only one reference account can be specified. Personal identification is usually only carried out at the time of payment. This can lead to major problems if the owner of the IQ Option account is not the same as the account holder. For reasons of money laundering regulations, a broker is not easily allowed to withdraw funds to other people’s accounts. Thus, it is the trader’s own responsibility to ensure the correct selection of the deposit and therefore also the withdrawal account. The information provided when opening an account should therefore also be truthful.

However, there are sometimes quite different conditions with the various providers. These can also vary greatly between deposit and withdrawal. Therefore, you should inform yourself about all conditions beforehand. IQ Option does not charge any transfer fees. It does not matter whether it is a deposit or an IQ Option payout. Only the minimum transfer amount of 2 EUR/USD/GBP must be observed. However, it can happen that the payment processor may charge fees. For example, IQ Option does not charge these fees for a bank transfer but passes them directly to the customer.

In principle, only a reference account is accepted, which is why the method of the deposit already determines the method of IQ Option payout. The payout conditions should be clarified in advance. It is imperative that the owners of the trading account and the bank account are identical. The minimum transfer amounts are 2 EUR/USD/GBP. IQ Option itself does not charge any fees on withdrawals. However, it may happen, especially in the case of bank transfers, that the payment service provider charges the broker a fee. IQ Option will then pass on this fee directly to the customer. Further details are regulated by the broker’s terms and conditions.

(Risk warning: 85% of retail investor accounts lose money when trading CFDs with this provider)

Classic payment methods and special features

The payment methods in the classical sense include bank transfer and credit card payment. The bank transfer is one of the oldest, but also one of the slowest transfer methods, although SEPA transfers have improved this situation considerably in recent years. Therefore, it is not used too often by many traders. For withdrawals, speed is usually less important, but for deposits, you may need to act quickly to be able to set additional positions. A time delay caused by the bank apparatus is annoying, even if it is only one working day, as for example with a bank transfer. On the other hand, one should not allow oneself to trade such tight trading strategies too often. Another disadvantage can be transaction fees that are charged by some house banks for executing bank transfers.

A credit card transfer, on the other hand, is immediately visible on the trading account. Here the disadvantage is clearly the payout. Every trader would like to realize returns and increase his money. But with credit cards, it is not possible to withdraw more money than was deposited. The sum of all deposits must not exceed the sum of all withdrawals. Credit cards are designed to pay for goods or services. In case of complaints, the money can be transferred back the same way. A larger repayment sum is not intended there.

As long as the trader is only trading to pass the time and pays less money than he deposits, there are no problems with this payment method. However, if the trader is successful and generates returns instead of deficits, another account must be authenticated. This should be a bank account if possible. For this account, the entire procedure of personal identification must be repeated.

Bank transfers usually take a few days before they are credited to the trading account. With credit cards, however, there is the problem that the sum of withdrawals may not exceed the sum of deposits (free of charge).

Quickly use of E-Wallets with IQ Option

E-Wallet services can be used for the IQ Option payout Skrill, Neteller, Cash, WebMoney, ADV Cash or PoliPayments, and some more (depending on your country). These services see themselves as a kind of protective shield between different department stores, service providers, or online stores and your own current account. From the current account, transfers are directed to the eWallet account. The filled eWallet account can then be used by the account holder to make payments to and receive deposits from various companies.

Depending on the eWallet service, virtual credit cards can also be used for this purpose, which provides increased security as they can only be used once. But eWallet services (free deposits) also provide normal prepaid credit cards that can be used like any other prepaid credit card. In the case of IQ Option, however, such a procedure would be nonsensical, as it would create the same conditions that have the disadvantage of a credit card. Therefore, a normal bank transfer should be completely sufficient here.

Skrill is a fast payment provider

If a withdrawal from the IQ Option trading account is now directed to the eWallet account, there are no restrictions on the amount or frequency of the withdrawal. However, some eWallet service providers charge a fee directly from the customer for certain services. This must be clarified individually in advance. Some eWallet services offer multiple accounts with different terms and conditions. In the best case, the customer can then choose whether to use the eWallet money for further payments with the service, to transfer the money to their checking account or, if possible, even to have the money paid out directly in cash.

eWallet services stand out for their uncomplicated account management. Once you are aware of all the conditions, eWallet accounts allow you to make free deposits and withdrawals of any amount and even have the returns (*amounts credited to an account in case of a successful trade) paid out in cash or transferred to your checking account.

Before the first payout your identity has to be verified by IQ Option

Before the trader can make an IQ Option payout – regardless of the amount – he must prove his identity. This is required by law and serves both to protect the customer and to prevent money laundering. Legitimacy is provided by the customer sending a copy of his ID or passport to IQ Option. This can also be done conveniently via an upload function. Other documents required by the broker are proof of the current place of residence. Although this is available on the German identity card, IQ Option requires further confirmation.

This could be, for example, the bill from a local utility company, such as water, electricity, or internet bill. A copy of a bank statement is also acceptable. If the deposit is made by credit card, a copy of the front and back of the card must also be sent to the broker. Users should make sure that the proofs are not older than three months. Once everything is received by the broker, the account will be verified and the IQ Option payout will be carried out.

Customers must first identify themselves to the broker before they can make an IQ Option payout. This is required by law and is not complicated. In principle, only copies of identification, proof of residence, and possibly a copy of the credit card must be submitted (certain areas may also be blacked out). As soon as the provider has received all documents, the payment will be processed immediately.

Conclusion: Here everyone finds the right payment method

For one trader the bank transfer is too slow, for another trader the eWallet service is too insecure and again another trader is too successful to use the credit card payment stress-free. No matter what type of trader you belong to, with enough patience everyone will find the optimal payment method for him. It is important not to rush into anything, to be honest with yourself and to have all conditions in view.

With regard to the conditions, the costs per transaction as well as the minimum and maximum transfer amounts are to be considered for both the deposit and the withdrawal. The broker sets at least everything to it the Trader the optimal IQ option disbursement to make possible. IQ Option itself does not charge any fees for deposits and withdrawals. However, the payment service provider may charge fees. IQ Option then forwards these directly to the customer.

(Risk warning: 85% of retail investor accounts lose money when trading CFDs with this provider)

Read our other articles about IQ Option:

Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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