IQ Option South Africa deposit and withdraw: choose the best method to manage money on your account
Any trading on the stock exchange is started with one goal - making a profit, and Forex is no exception.
Therefore, it is quite obvious that all reasonable traders think about how to withdraw their funds before they start trading and not after it. There are quite a few ways and each of them is associated with financial costs. The main headache that awaits all brokers is the various fees, exchange charges, and commissions. If you are too careless with the withdrawal procedure, then you can lose a very significant amount of your money - it will be spent on the payment of fees.
When choosing intermediaries, brokers, or trading platforms the trader has to monitor the size of the commission and the speed of money withdrawing. It is useful to choose a few suitable options and work with them.
Another important detail that always has to be very carefully investigated is the connection between the deposit method and the withdrawal method. They do not always match.
In a word, before you trust the service with your funds, you need to give careful consideration to the conditions of his work.
Every detail is important
In the money business there are no unimportant trivia. If you want to get yourself an account, you must thoroughly study the rules for making deposits to it, and even more importantly, the rules for withdrawing funds.
Quite often, novice inexperienced traders encounter the next “surprise”. They sign up for training courses and open a bonus account, completely ignoring the ways of making deposits and the ways of funds withdrawal. Then it may suddenly be necessary to withdraw funds from the account, and then there will be complications if the trader is not satisfied with the conditions. In a typical situation, you can only withdraw in the same way that you have made a deposit, and this is not always acceptable. Instructions always warn about this, and if you read them carefully, then there will be no unpleasant misunderstandings.
An excellent protection against any unforeseen situations is to provide the possibility of getting funds immediately when setting up an account. To do so, the account is replenished by small amounts of money through various services. Of course, with this method you have to pay several commissions and fees at once, but now you can withdraw money in any way that is convenient for you. It is very important.
Inattentive traders may face another “surprise”. Nearly always the number of options to make a deposit and replenish the account exceeds the number of options for withdrawing funds from the account. Therefore, if you replenish your account in different ways with only intend to activate various withdrawal methods, then make sure not to replenish it with an “extra” method, that is, the one that does not have an appropriate method. Of course, if you replenish your account with such a “dead-end” method of replenishment, nothing bad will happen, but nobody wants to pay the commission once again.
The situation with the taxation of earnings on Forex also requires your special attention. Novice traders may care little about it. If earnings are low, then no problems arise. But as soon as the income turns out to be substantial, and you will often cash out large sums of money, this will surely attract the attention of the tax authorities. Therefore, in order not to create problems for yourself, you will have to consult with a tax specialist and arrange the right tax proceeds.
Thus, the choice of service, through which deposits will be made and earned money be withdrawn, must be taken very seriously. You may consider it necessary to work with more than one of such services, or maybe you will prefer only one of them. This entirely depends on your choice.
IQ Option – easy and convenient withdrawal of money
The IQ Option service was created specifically to make the work of South African traders as convenient as possible. It takes into account the specifics of the region, provides free educational materials and a number of opportunities for protection beginners from annoying mistakes. Thanks to such organization, the service is popular not only in South Africa, but throughout the world and the total number of its users is getting closer to 20 million.
To become an IQ Option user and, consequently, a successful trader, you just need to have a smartphone connected to the Internet. And of course, you can work with the service using a computer.
The procedure for withdrawing funds using the IQ Option service is extremely simple and very convenient. There is a special section on the screen where you can see the status of your request in real time.
Withdrawal can be done in several ways:
- banking transaction;
- credit card;
- electronic payment systems.
You can receive funds at the same moment when the taking or receives the status of “Sent”. If it is required to submit some documents approved by the company, then you can see “Hold” in the request status window.
If withdraw is not possible, then you can see the status “Cancel”.
Processing of the requests is very fast - basically you have to wait no more than 24 hours, and sometimes the operation takes only an hour and a half. Of course, VIP accounts are serviced with increased speed.
But still, quite often users have to wait up to three days. Processing time depends heavily on payment methods and a number of other factors. The slowest cases are associated with bank cards - here the waiting time can be up to ten days. But there is nothing to worry about, because you will definitely get your money.
The impossibility to withdraw funds occurs in the following situations:
- no deposit is made to the bank card;
- monetary amount exceeds the amount of the deposit;
- your bank card is not valid;
- your bank card does not support international transactions.
In order to withdraw funds quickly, you must carefully study the rules. Read the instructions, talk with the staff.
Before starting the procedure, always check the status of the account. It is better not to make annoying mistakes. They do not carry a serious risk, but it is better when they do not happen at all.