How To Withdraw Money From IQ Option? Best Methods And Tips You Should Know in 2024

“This material is not intended for viewers from EEA countries. Binary options are not promoted or sold to retail EEA traders.”

It’s one of the nightmares of traders: being unable to withdraw money. You may have come across refused or stalled withdrawals. There could be two reasons for this: the broker you’ve been dealing with may not be a legitimate entity or, if it is a genuine broker, it’s been enforcing strict withdrawal procedures to make sure money is transferred to the right person. The former is unfortunate, and the latter is understandable and works to your advantage because of all the instances of fraud involving both brokers and traders.

If you’ve struggled before with withdrawing your earnings from a broker, you’ll find IQ Option a great improvement. This platform has fast and hassle-free withdrawals. In this guide, we’ll walk you through the withdrawal process, options, and limitations of using this broker. We’ll also throw in some pointers on how to invest your earnings properly.

The great thing with IQ Option is that it offers a free demo trading account that you can test drive if it’s your first time to come across the company. You get virtual funds that you can use for simulated trading or, if you want, for real trading. You can try the product first-hand to learn more about its trading tools and features at no cost thanks to the IQ Options free trial.

There are many advantages to using IQ Option. It has one of the easiest trading apps around. From it, you can expect world-class customer support and safe and fast money withdrawals using several methods, as you’ll learn in this article.

Even if you find in your research that IQ Option is the real deal, it is still important that you read in detail its terms and conditions. While the steps in withdrawing may be the same for most brokerage companies – select amount, choose withdrawal procedure, confirm your decision, and wait – there may also be crucial differences.

These include the allowable amount that can be withdrawn and the length of time before money is transferred to your bank. Of course, the broker may require other things from you, such as proof of identification or other supporting documents. With IQ Option, you’ll find the process more streamlined than most, which makes it a popular platform for both long-time and new traders.

Should You Withdraw Money Right Away?

Chances are that, like most traders who make their first successful trades, your first impulse is to get a hold of your gains by quickly withdrawing your funds. But more successful binary options traders eschew this approach because of higher long term gains. IQ Option posted these practical tips on its website:

1. You should ask yourself why you invest real money at all. You could have the same experience completely risk-free with the IQ Option demo.
2. If you trade seriously, you should wait before you withdraw as you probably have a trading plan.

The broker’s advice aside, let’s answer our question: How to withdraw money from IQ Option?

IQ Option Withdrawals: Quick Summary

Withdrawing through IQ Option is just as fast and easy as earning money using the app. It’s one of the simplest in the binary options trading niche, as cited in various binary options brokers reviews. You can use credit cards, e-wallet providers, and wire transfer to withdraw money.

You could enjoy the immense benefits of one free withdrawal each month for any withdrawal option. After which, withdrawals will have a fee of 2% of the amount being taken out of the account. It will not be less than $1 but not more than $30. IQ Option also processes withdrawals in 3 working days.

Such policies matter. IQ Option stands as the best choice for traders to make the most of their withdrawals.

Withdrawing Money from IQ Option: Best Methods and Tips

On IQ Option, as in other platforms, the withdrawal process usually takes up to three days. One withdrawal per month is free but for each subsequent withdrawal, a fee of 2% is applied. This fee, however, will never be less than $1 and never more than $30. Also, keep in mind that transaction fees may be also charged by third-party payment gateways and banking services. This varies from one withdrawal option to another and the service you personally have. Withdrawal options available include credit or debit card, wire transfer, or e-wallet. Check out the different withdrawal methods below.

Withdrawal Options

1. Credit Card/Debit Card Withdrawal

Withdrawing through a credit card or debit card is the preferred choice of withdrawal at IQ Option. Currently, IQ Option accepts withdrawal from following bank cards: Visa, Visa Electron, Maestro, and MasterCard.

In case you are having reservations about conducting funds withdrawal through your bank card, you may rest assured in the fact that IQ Option boasts the first highest Payment Card Industry Data Security Standard, merchant level.

2. Wire Transfer Withdrawal

There are several reasons why you may want to use wire transfer only as a last option to withdraw funds from IQ Option. As with e-wallets and bank cards, IQ Option will process wire transfer withdrawal requests up to 3 working days. Once such withdrawal requests leave IQ Options, however, they usually take a longer time to complete processing by the banks in which you hold an account.

Wire transfers generally require payment. The rate depends on the locations involved and the practices of your bank. Most traders can avoid such fees, but if you cannot, it would be wise to consider the cost of payment involved. For all first withdrawals of the month, there is no fee. But the following withdrawals will have a fee of 2% of the amount. It will not be less than $1 but you will not have to worry about more than $30 being taken out of your earnings. 

While it can be said that withdrawing through wire transfer is best reserved as a last-resort option, there are also special reasons why this payment method is still necessary. One outstanding reason is the existence of the so-called anti-money-laundering law, which is reflected in a provision, which only allows you to withdraw through your credit card as much money as you deposited using it. If instead, you deposited money via wire transfer, that leaves you no option but to stick to wire transfer for all withdrawals, having opted out of credit card transactions.

It might also happen that you have eventually used up all your bank card credit: when you have withdrawn as much money as you have deposited. If this happens, withdrawing through wire transfer might be the only option left for you.

3. E-Wallets

One of the better methods to withdraw your winnings is via an e-wallet. It is usually provided by a third-party provider or payment gateway. E-wallets are not without issues, though. But if you stick to the popular ones, you’re less likely to encounter problems. Below, we list the most common e-wallet channels used for IQ Option.

Recommended E-Wallet Providers

How to withdraw money from IQ Option using e-wallets? Here are the different providers with a few tips, one that will allow you to use this channel to get your earnings.

1. Skrill

Skrill is based in London, United Kingdom. During registration, it asks for your email address to be used as your account login. You have a chance to activate two-factor authentication for additional security. You can link your bank account or credit card, but expect the verification process to take some time.

Make sure that your preferred currency is from one of the 40 countries accepted by Skrill.  Skrill does not operate in Latvia, Afghanistan, Cuba, Myanmar, Nigeria, Somalia, and Yemen. It is also unavailable in Iraq, Eritrea, and Libya. Note that Skrill sets a maximum limit to your transactions.

2. Neteller

Headquartered at Douglas, Isle of Man, Neteller requires you to verify your account first before you could retrieve your funds. To do this, you have to submit a bank statement issued not later than three months ago.

For account login, you will use your email address, which it asks for during the registration process. It also offers what it calls Net+ Prepaid Card, which you can conveniently use for direct money transfers.

Neteller sets both minimum and maximum transaction amounts, the latter depending on your choice of currency.

It supports 26 national currencies, which you can verify on its website indicated above.

Neteller does not work in Afghanistan, China, Cuba, Eritrea, Iraq, Kyrgyzstan, and Libya. It offers limited services in the following countries and territories: France, Germany, Hong Kong, Italy, Macao, Singapore, Spain, Turkey, UAE, and the United Kingdom. In most Arab countries, banks do not work with Neteller. Clients from these countries may want to use WebMoney or Skrill instead.

3. WebMoney

Headquartered in Moscow, Russia, WebMoney has won several awards in 2016. No bank account or credit card is required to open or operate a WebMoney account, making it accessible to many people. It supports 8 different currencies and assets, which can be verified on its website through the link above.

WebMoney does not provide its services in the following states and territories: American Samoa, Afghanistan, Algeria, Angola, Bosnia and Herzegovina, Ecuador, Guam, Guyana, Indonesia, Iraq, Laos, Libya, Mali, Mauritania, Myanmar, Northern Mariana Islands, Panama, Papua New Guinea, Somalia, Yemen, Uganda.

4. Boleto

Boleto is a payment method in Brazil, where it is officially known as Boleto Bancário. It is regulated by FEBRABAN, short for the Brazilian Federation of Banks. A boleto can be paid at ATMs, branch facilities, and internet banking of any bank, post office, lottery agent, and some supermarkets until its due date. After the due date, it can only be paid at the issuer bank facilities.

Boleto can only be collected by an authorized collector agent in the Brazilian territory.

5. FasaPay

An Indonesian electronic payment system based in Orchard Road, Singapore, FasaPay allows a maximum withdrawal of $75,000.00 and a minimum of just $1 per transaction. You can do multiple transactions each day at fees ranging from free to 5%.

You must be a verified account holder to make transactions at FasaPay. To be a verified account holder, PasaFay requires the submission of bank documents. Aside from the standard account password, FasaPay provides 4 other ways to secure your account.

FasaPay currently supports US dollar and Indonesian rupiah (IDR) currencies.

Withdrawal Limitations

As a security measure, IQ Option requires that you withdraw using the same bank card or e-wallet you have used to make a deposit. If you don’t, the system will cancel the withdrawal request. Thus, if you have initially deposited through Neteller, then you need to make the withdrawal back through Neteller.

For bank cards, you must withdraw within 90 calendar days from the last deposit. Another security measure applies: how much you withdraw must not exceed the amount you deposited. This limitation does not apply to e-wallets.

Finally,  if you choose to withdraw through both your bank card and e-wallet, IQ Option prioritizes withdrawals through bank cards over other types of withdrawals.

IQ Option has recently implemented instant bank card withdrawal processing, which eliminates the previous 3 working days waiting period for your withdrawal application to be processed.  Nevertheless, bear in mind that once the application is approved, it can take your bank up to 9 working days to credit the funds to your account. It pays to remember this and not get alerted when you see the status indicates it has been completed, yet you still don’t see funds on your card.

1. Example 1: You initially deposited $500 to your card. Within 90 days, you accumulate $600 on your balance. To withdraw, you need to proceed with two withdrawals: $500 to your bank card and $100 to your e-wallet of choice (Neteller, Skrill, etc.). Or you can use wire transfer, though this will leave you with $50 less as processing fee. Not a good way to withdraw, unless you have large enough funds to offset the cost of processing.
2. Example 2: You deposited $500 and have the same amount that you now want to withdraw after 100 days—well past the 90-day window that allows you to withdraw through your bank card. Bank card withdrawal option out, but e-wallet or wire transfer options still possible. Most likely, you will choose e-wallet to avoid the $50 processing fee.
3. Example 3: You have deposited $500 through your bank card and $100 through your e-wallet. You want to leave your bank card funds intact but withdraw from your e-wallet. IQ Option does not allow that: you need to withdraw $500 through the bank card first before you can withdraw from the e-wallet. This is the withdrawal hierarchy at IQ Option, requiring clients to make withdrawals against bank cards first before e-wallets or cash transfer. If you have carefully read through the previous discussions, you should be ready to make your first IQ Option withdrawal.

Steps to Withdraw Money from IQ Option

IQ Option applies an identical algorithm for fund withdrawal regardless of the mode of payment you choose. To proceed with withdrawing funds from IQ options, do the following:

1. Go to iqoption.com
2. Sign in
3. Click on the user pick in the upper right-hand corner of the screen
4. Select “Withdraw Funds” from the list of available options
5. Click on the preferred payment system
6. Follow the specific instructions indicated

Alternatives to Withdrawal

There are alternatives to withdrawing funds from IQ Option that users may find beneficial. Here are some options to consider:

• Transferring Funds Within the Platform: Instead of withdrawing money to a bank account or e-wallet, you can use your IQ Option balance to trade or invest in other assets on the platform. This lets you keep your funds active and grow your investment without withdrawing.
• Using IQ Option’s Demo Account: If you’re unsure about withdrawing, you can practice trading with virtual funds in a demo account. This way, you can refine your strategies without risking real money. It also helps you understand how to manage your funds better before withdrawing.
• Setting Up a Payment Method for Future Withdrawals: If you’re not ready to withdraw, consider setting up your preferred payment method in advance. This ensures that the process is seamless when you decide to withdraw, and you can transfer funds more quickly.
• Exploring Other Investment Opportunities: Consider diversifying your investments within IQ Option instead of withdrawing your funds. Options like Forex, cryptocurrencies, or stocks can offer different potential returns.

Continuing Your Investments

You’ve seen how easy the process is to get your cash from your partner broker. You’re a serious money trader and want to plow back your winnings or even just a part of it. You feel you have a full grasp of the numbers trend and how commodities, currencies, and stocks move in the world market. No worries.

Depositing your money to IQ Option is as simple as withdrawing it. You just go to your account, click the deposit button, select your payment method (credit or debit card, wire transfer), enter your credit card information, and then press “pay” to see your money deposited in your account. To get the full details on how it all works, you can head over to our article How To Deposit Money To IQ Option? Best Methods and Tips To Fund Your Account.

IQ Option can be your investment gateway to the world of binary options trading. It is a multi-awarded online trading company that boasts of 25 million registered users worldwide and a monthly trading volume of $380 million. In 2016, it introduced instant withdrawals and one-day processing, and currently peaks at over $10 million in total withdrawals per month. It also has one of the most advanced online as well as mobile trading apps. If you want to, you can start trading at once – just sign up for IQ Option free demo account.

General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.

Key Insights

• Fast and Secure Withdrawals: IQ Option offers a streamlined withdrawal process, typically taking up to three working days. The first withdrawal each month is free, with a 2% fee for subsequent withdrawals (minimum $1, maximum $30).
• Multiple Withdrawal Options: Users can withdraw funds via credit cards, debit cards, wire transfers, and e-wallets. Each method has its advantages and potential fees.
• E-Wallet Providers: Recommended e-wallet providers include Skrill, Neteller, WebMoney, Boleto, and FasaPay. Each has unique features and geographic restrictions.
• Withdrawal Limitations: Withdrawals must be made using the same method as the deposit. Bank card withdrawals must occur within 90 days of the last deposit, and the amount withdrawn cannot exceed the deposit amount.
• Security Measures: IQ Option enforces strict withdrawal procedures to prevent fraud, requiring proof of identification and prioritizing bank card withdrawals over e-wallets.
• Instant Bank Card Withdrawal Processing: IQ Option offers instant processing for bank card withdrawals, but it may still take up to nine working days for banks to credit the funds.
• Investing Earnings: IQ Option provides a simple process for depositing funds back into the platform for continued investment, supporting various payment methods.

FAQ

1. What are the available withdrawal methods on IQ Option? You can withdraw funds using credit cards, debit cards, wire transfers, and e-wallets. Each method has different processing times and potential fees.
2. How long does it take to process a withdrawal request? Withdrawals typically take up to three working days for IQ Option to process. However, bank card withdrawals may take up to nine working days for the funds to appear in your account.
3. Are there any fees for withdrawing money from IQ Option? The first withdrawal each month is free. Subsequent withdrawals incur a 2% fee, with a minimum charge of $1 and a maximum of $30. Additional fees may be charged by third-party payment gateways and banks.
4. What are the limitations on withdrawing funds? Withdrawals must be made using the same method as the deposit. For bank card withdrawals, the amount cannot exceed the deposited amount and must be withdrawn within 90 days of the last deposit.
5. What security measures does IQ Option implement for withdrawals? IQ Option enforces strict procedures, requiring proof of identification and prioritizing withdrawals through bank cards before e-wallets to prevent fraud.
6. Can I withdraw more than my deposit amount through a bank card? No, the amount withdrawn through a bank card cannot exceed the deposited amount. For any excess, you will need to use an e-wallet or wire transfer.
7. How do I withdraw money if my deposit was made through multiple methods? If you deposited using multiple methods, you must first withdraw the amount equivalent to your bank card deposit through the bank card. Any remaining balance can be withdrawn through the e-wallet or wire transfer method used.
8. What should I do if my withdrawal is delayed? If your withdrawal is delayed, ensure all requested documentation is submitted. Check with your bank or payment provider for any additional processing times they might have. Contact IQ Option customer support for assistance if delays persist.
9. How can I continue investing after withdrawing funds? To reinvest, deposit funds back into your IQ Option account by selecting your preferred payment method (credit card, debit card, or wire transfer) and following the deposit instructions on the platform.

By Daniel Epstein

Daniel Epstein is a senior financial research analyst at FinancesOnline and the architect behind our Fintech and ERP content division. His main areas of expertise are blockchain technologies, cryptocurrencies, and the use of biometrics in fintech solutions. His work has been frequently quoted by such publications as Forbes, USA Today, Entrepreneur, and LA Times. With more than 1,800 solutions scrutinized in the last 5 years spent on our team he always prioritized offering readers an unbiased perspective on modern financial technologies.