Withdrawals are something you will really want to pay attention to when you are selecting your first binary options broker. It is easy to get caught up in trading features and tools and to ignore the terms surrounding the simplest transactions, but these terms are among the most important. How easy is it for you to access your money in your binary options account? Is it even technically your money anymore?

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The answers to these questions depend on the terms surrounding cash outs. Are you watching the clock tick-tock until you can withdrawal your money?

How long will you have to wait before you can access your money? Remember, different withdrawal methods will have different associated processing times.

But most binary options websites will at least give you some kind of an estimate as to how long it takes to transfer your money out of your trading account and into your online payment system account or bank account. Typical transaction times usually range from one to three days, but some brokers are notorious for taking a lot longer to send out money. GOptions is a company that offers 24 hour cash outs to all verified traders. Other brokers provide 24 hour cash outs to traders with larger accounts.

What methods can you use to withdraw your money? If you visit our page on deposits, you will see the most common deposit methods for binary options: These are also the withdrawal methods offered by most sites. Usually if you can deposit via a certain method, you can also withdraw the same way. Indeed, many brokers require that your withdrawals take the same form as your deposits, so pay close attention to the terms of service before you make your first deposit.

If you deposit using your bank card and then hope to withdraw using CashU, you could be out of luck.

Generally there is a fee for withdrawals made more than a few times a month. Withdrawal fees are something else you will want to pay attention to. The most common withdrawal fee is a fee for wire transfer withdrawals.

There are usually fees for wire transfer deposits as well. Why is this service offered? The fees are expensive however, and if you get stuck using wire transfer for all your deposits and withdrawals, you might soon be losing a lot of your profits on the fees.

There may also be a fee if you try to withdraw an amount under the minimum limit, but most brokers simply will not allow you to withdraw anything under a certain amount.

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Another type of fee which is common is one for withdrawing more than a certain number of times per month. Or you might be given three free withdrawals each month, but your fourth transaction will cost you, and so on. Carefully check the terms of any broker you are thinking of opening an account with to ensure that you are not going to be paying a lot of money in withdrawal fees.

It is difficult enough to become a profitable binary options trader without losing all the money you earn trying to withdraw it. Perhaps one of the most irritating drawbacks that you will encounter time and again among binary options websites is a high minimum withdrawal limit.

Sadly even some of the better binary options brokers have this limit. Sometimes these limits are low: In effect, it is no longer your money until you increase your balance by winning more trades. You could withdraw without making a trade and get all your money back.

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If you win your first trade, you could also withdraw all your money. If you see this kind of setup at a broker who does not have a strong reputation or other positive features, you can view it as a red flag.

Unfortunately, again, this feature does exist with some of the better brokers as well. You can get around it by depositing more money at the outset and then trading conservatively.

This is a smarter way to trade anyway. Because when you deposit money, you should also be considering the minimum trade amount. You should be trading around 2. That way you can trade conservatively and you are less likely to run into that problem with the minimum withdrawal threshold where you discover your money is suddenly inaccessible to you.

Here is a quick overview of the fees and withdrawal limits for several of our top brokers:. If you have any questions about withdrawals at a broker you are interested in working with, contact their customer service team and ask.

Not only is it essential you clearly understand how to access your money and how long it will take to make a withdrawal, but it also gives you a great opportunity to check out the customer service at a given broker to see if the agents are helpful, friendly, and authoritative.

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