The broker IQ Option not only has to ensure a convenient payment method, but also a suitable payment method for returns. Here the broker has put together an offer of financial service providers that should cover all traders' preferences. You can find out which payment method has which special features and which payment method has which advantages in the following guide "IQ option payment".
All facts about "IQ option payment" at a glance:
- The payment method determines the route of the IQ option payment.
- The IQ option payment is possible via eWallet services such as Skrill, Neteller, Cash, PoliPayments and WebMoney.
- The classic payment methods are bank transfer and credit cards Visa and Mastercard®.
- The minimum transfer amount is EUR / USD / GBP.
- The conditions are different for each financial service provider.
- Bei Pay attention to the payment conditions on transfer fees, amount of the transfer amount, frequency of deposits and withdrawals.
- Before the withdrawal, full legitimation must be available
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What you need to consider before an IQ option payout
Before a payout, when trading binary options, the payment is traditionally made. And that's exactly how it is with IQ Option. However, it should also be noted when making the payment that this already defines the payment method and that no further account can be specified. This is mostly due to the fact that a personal identification must be carried out for all accounts and the company has to prove this in the long term. Each additional account per customer means additional work and even more storage space.
It is therefore customary that only one reference account can be specified. The personal identification usually takes place only when the payment is made. This can lead to major problems if the owner of the IQ Option Account does not match the account holder. For reasons of money laundering regulations, a broker is not easily permitted to withdraw funds into other people's accounts. It is the trader's responsibility to ensure the correct selection of the deposit and thus also the withdrawal account. The information when opening an account should therefore also be truthful.
However, there are sometimes quite different conditions with the different providers. These can then vary greatly between deposits and withdrawals. Because of this, you should inform yourself beforehand about all conditions. IQ Option does not charge any transfer fees. It does not matter whether it is a deposit or an IQ option withdrawal. Only the minimum transfer sum of 2 EUR / USD / GBP has to be observed. However, the payment processor may charge fees. For example, with a bank transfer, these are not taken over by IQ Option but passed on directly to the customer.
In principle, only a reference account is accepted, which is why the payment method already determines the way of IQ Option payment. The payment conditions should be clarified in advance. It is imperative that the holders 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 withdrawal fees. However, especially with bank transfers, the payment service provider may charge the broker a fee. IQ Option will then pass this fee on directly to the customer. Further details regulate the general terms and conditions of the broker.
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The classic payment methods and the special features
Zu The payment methods in the classic sense include bank transfer and credit card payment. Bank transfers are one of the oldest, but also the slowest, methods of transfer, although SEPA transfers have also improved significantly in recent years. Therefore, it is not too popular with many traders. When it comes to paying out, the speed is usually less important, but in the case of deposits, it may be necessary to act quickly in order to be able to place additional positions. A time delay from the bank apparatus is annoying, even if it is only a working day, such as with a bank transfer. On the other hand, you shouldn't allow yourself too few trading strategies of this kind. Another disadvantage can be transaction fees that some house banks charge for making transfers.
A credit card transfer, on the other hand, is immediately visible in the trading account. The disadvantage here is clearly the payment. Every trader would like to realize returns and increase their money. But with credit cards it is not possible to withdraw more money than was deposited. The sum of all deposits must therefore not exceed the sum of all withdrawals. Credit cards are designed to pay for goods or services. In the event of complaints, the money can be transferred back in the same way. There is no provision for a larger repayment amount.
As long as the trader only trades for a pastime and pays out less money than he pays in, 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. If possible, this should be a bank account. The entire process of personal identification must then be carried out again for this.
Bank transfers usually take a few days before they are credited to the trading account. With credit cards, on the other hand, there is the problem that the total payments cannot exceed the total payments (free of charge).
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Use the eWallet services quickly
On eWallet services, Skrill, Neteller, Cash, WebMoney or PoliPayments can be used for the IQ payment option. These services see themselves as a kind of protective shield between various department stores, service providers or online shops and their own checking account. Transfers are made to the eWallet account from the current account. The filled eWallet account, on the other hand, can then be used by the account holder to make payments and receive deposits from various companies.
Depending on the eWallet service, virtual credit cards can also be used for this purpose, which guarantee increased security, since they can only be used once. But eWallet services (deposits free of charge) also provide normal prepaid credit cards, which can be used like any other prepaid credit card. In the case of IQ Option, however, such a procedure would be nonsensical, since it creates the same conditions that entail the disadvantage of the credit card. Therefore, a normal transfer should be sufficient.
If a payment is now made from the IQ Option trading account to the eWallet account, there are no restrictions in terms of amount or frequency. However, some eWallet service providers charge a fee directly from the customer for certain services. This needs to be clarified individually in advance. Some eWallet services offer multiple accounts with different conditions. In the best case scenario, the customer can then choose whether he wants to use the eWallet money for further payments with the service, whether he wants to transfer the money to his checking account or, if possible, even have the money paid out directly in cash
eWallet services impress with their uncomplicated account management. Once you are aware of all conditions, it is possible to make free deposits and withdrawals of any amount with eWallet accounts and even have the returns (* amounts credited to an account in the event of a successful trade) paid out in cash or transfer to his checking account.
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Before the first IQ Option payment, you must be legitimized
Before the trader can make an IQ option payout - regardless of the amount - he must legitimize himself. This is required by law and serves to protect the customer, but also to prevent money laundering. The legitimation takes place by the customer sending a copy of his ID or passport to IQ Option. This can also be done conveniently using an upload function. Other documents that the broker needs is proof of current residence. Although this is on the German identity card, IQ Option still needs another confirmation. This can be, for example, a local utility bill, such as a 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 note that the evidence is not older than three months. If everything is in the broker's account, the account is verified and the IQ option payment is carried out.
Customers must first have legitimation with the broker before they can carry out an IQ option payment. This is required by law and is not complicated. In principle, only copies of the ID card, proof of residence and possibly a copy of the credit card must be submitted (certain areas may also be blackened). As soon as all documents have been received by the provider, the payment will be processed immediately.
Conclusion: Here everyone will find the right payment method
For some traders, bank transfers are too slow, for others Trader, the eWallet service is too insecure and yet another 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 them. It is only important not to rush anything, to be honest with yourself and to have all conditions in mind. With regard to the conditions, the costs per transaction, as well as the minimum and maximum transfer amounts, must be taken into account both for the deposit and the withdrawal. The broker does everything he can to give the trader the optimal IQ option payout. IQ Option itself does not charge fees for deposits and withdrawals. However, the payment service provider may charge costs. IQ Option then forwards this directly to the customer.