If you are a new trader, you may have many questions. And even if you have been trading on IQ Option for some time now, you may still wonder about some of these. Here are the answers to the top 5 frequent concerns that most traders have.
1) When will I receive my withdrawal?
This issue is probably the one that concerns traders the most. And it’s understandable: you should always be able to receive the withdrawals you make on the platform. So let’s quickly look at the types of withdrawals on IQ Option and the reasons why you still haven’t got the funds.
- Visa/Mastercard withdrawal. Bank card withdrawals are processed instantly on the IQ Option side and they can take up to 21 working days to be processed on the side of your bank.
- E-wallet withdrawal. Usually withdrawals to e-wallets take 1-3 business days to be processed, regardless of the chosen e-wallet.
- Wire transfer. Wire transfers take approximately the same amount of time as e-wallets — up to 3 working days.
- Local bank transfers. As this type of transfer is slightly more complex, it may also take more time — anywhere from 1 up to 8 working days, depending on the bank.
2) The withdrawal time is up, why is my money still not credited?
Though it does not happen often, sometimes traders can face such an issue. In this situation, traders can check the following points:
- How many working days have passed?
Since the withdrawals are not processed over weekends or holidays, it is important to remember to count only working days and wait a bit longer, if necessary.
- Is your IQ Option account fully verified?
Remember to upload your documents and verify the bank card, if you had used one for deposits, as the withdrawal will not be completed if the account is not verified.
- Are the payment details correct?
Make sure to double check your bank account credentials, e-wallet address or other payment data to make sure that it is correctly filled. Make sure to check your withdrawal amount minding the withdrawal fee as well.
If all of these points are correct, it might be that the withdrawal is stuck due to a technical error, but there is no need to worry. Simply contact the Support to receive help with your issue and the Support Team will gladly assist you in the live chat, through email or by phone.
3) Why are my verification documents rejected?
This issue can be easily resolved, as the reason for rejection is usually stated right on the verification page. However, if you are unsure whether your documents are valid for verification or not, pay attention to the verification requirements stated both on the verification page and in the FAQ section of the IQ Option website. The most common reasons for rejection of documents are:
- The document is blurry or cropped. The photo of the document should be in high quality, so that it is readable and the document shouldn’t be cropped. Moreover, the photo shouldn’t have any watermarks or drawings on it.
- The document is expired. If the document is expired, it is invalid and it can’t be accepted for verification.
- The document is wrong. If the document is not one of the documents stated in the list of requirements, it can’t be accepted, therefore it will be rejected.
- The document belongs to a third party. It might seem obvious, but the account can only be verified with a document on the name of the account holder. Any other document will be rejected.
4) Is it safe to upload my documents and bank card photos to IQ Option?
This question is completely understandable since it concerns sensitive data. The answer is yes: all documents uploaded to IQ Option are available to the specific employees responsible for the verification. The company works according to the GDPR standards, so all the information and documents are used and stored under the GDPR legislation.
As for the bank card information — we at IQ Option request your bank card to be covered in accordance with the rules (only the first 6 and last 4 digits of the card number should be visible and the CVV code needs to be covered). However, even if by accident you didn’t hide this information, our system will do it for you, so your payment data won’t be available to anyone.
5) How much money can I earn? Why did I lose my investment?
The outcomes of deals largely depend on the trader, their approach and risk management strategy. The broker doesn’t offer guaranteed profit, so it may happen that in case of an incorrect prediction a trader will lose their money. Trading is risky, regardless of the chosen asset, so it is necessary to prepare for any outcome and improve your knowledge. The key to a better trading system is consistent work and practice. You are more than welcome to utilize all of the materials provided on the platform — video tutorials, blog articles, practice account etc. — in order to enhance your trading skills.