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Traders of binary options often forget about the serious attitude to the financial aspect of trading in the pursuit of great profit. And in vain, because this is what leads them to failure. After all, money needs to be perceived not only as a means of payment, but also as a whole philosophy, where a flippant attitude is unacceptable. So, having decided to become an option trader, at first, it is necessary to study all the rules, processes and conditions that are directly related to the financial part of the relationship between client and broker. Otherwise, then it is possible to get unpleasant surprises.
And now, let’s consider the system of crediting funds to the deposit and withdrawing them using the example of the Binomo broker company.
Crediting of funds
This process, in fact, is the initial stage of option trading. It is possible to transfer funds to the account immediately after it is registered with a Binomo broker. Try to fill in the registration form without errors at once, since then the correction of personal data may take some time and cause certain difficulties. Moreover, such changes can then affect the time period for withdrawing funds from the account. So, we transferred a certain amount to the registered account with this broker. Here is how this process happened through the “Cash register” section of the site:
It has a special tab “Deposit the account”. By clicking on this tab, you will open the payment terminal of Binomo company, which simultaneously collects information about bonus programs that are valid during replenishment of the account, and payment systems that can be used by a broker, namely: QIWI, MasterCard, VISA, UnionPay, WebMoney, Neteller. The trader can choose any of the provided payment systems, as the broker tries to provide clients with maximum comfort. Having chosen the method of transferring money and specifying the amount, it is necessary to fill in the form intended for this:
Funds are credited to the account immediately, while the client doesn’t need to pay a commission or make an additional payment, which many brokerage companies may require. Just note at once the limit amount of crediting to the account – the minimum requirement for the amount transferred to the account is $ 10 or 500 rubles. At the same time, the maximum limit reaches $ 10,000 or 20000 rubles. These restrictions are justified by trading risks that are always present in option trading. When making a transaction to transfer funds to the account, try to do it immediately from the system of payments and details that you will then specify when withdrawing funds.
Once the balance of your trading account is already pleasing your eyes with a sum of a few zeros, you will undoubtedly want to not only see them in the trading terminal, but also feel them in the form of real money. To do this, it is needed to use the withdrawal service, which can also be found in the “Cash register” section.
This process is also maximally simplified with the broker. To do this, you will only need to specify the desired withdrawal amount and details of the electronic wallet for the transfer, also specify the reason for the withdrawal in the comment. What you specify in the comment will absolutely not affect the withdrawal of funds, just in this way the broker maintains his sociological statistics to further improve the quality of services. The column, which means “Method of withdrawal”, will automatically contain the details from which you transferred your funds. If until then you have not changed them, then the withdrawal of funds will occur as quickly as possible. However, changing the payment details, you will have to go through additional verification with a broker to confirm your identity. Thus, the broker is trying to protect your funds from scammers. The withdrawal period is 24 hours. And although this term is specified in the client agreement, in fact, you can receive your funds in 3-4 hours, which are record hours among brokerage companies. A delay in withdrawal can occur only if the broker’s security service doubts it. The withdrawal of funds may be accompanied by a fee, for example, you will have to pay a fee of 10 percent, when withdrawing funds immediately after they are credited. Such a fee will not be withdrawn from you by the broker, but by the payment system through which you will carry out the financial transaction. But if you withdraw funds after trading binary options, then the whole fee of the payment system will be compensated to you by the broker of Binomo.
In general, regarding the financial transactions of the Binomo broker (switch to the broker’s website), it can be clearly said that this broker not only financially disciplines its clients, but also provides them with professional and high-quality financial services. At the same time, the broker does not even give his clients a reason to doubt the financial probity of their relationship.
And finally, we also note the FAQ section on the broker’s website that provides advice on all issues related to the financial transactions.