Those who have already dealt with trading on financial and currency markets know very well that the processes of earning, placing and withdrawal of earned funds are significantly different. In this article, we will consider the peculiarities of cooperation with the Binomo broker, one of the most popular platforms for working with binary options among Russian traders and talk about the most common mistakes of beginners.
On the one hand, it seems illogical, but it is not. The statistics of difficulties with withdrawals in the market often leads traders to solve questions like “Binomo does not withdraw my funds, what should I do?” It is better to check such questions by yourself as the information in the network is doubtful. It is traditionally better to start working with brokers using demo accounts. This way you can be sure how (withdrawal channel, order processing speed) the broker works with the client’s profit.
Withdrawal of funds
If someone finds that it is difficult to withdraw money, you should remember that Binomo has no tax agent status. For this reason, traders are not subject to income tax legislation. It is the customer’s responsibility to provide information and declarations to the appropriate authorities.
A pleasant addition to cooperation with this broker is the possibility of free money withdrawal from the bonus deposit. To achieve this condition, you will need to make a certain number of transactions with a predetermined turnover. It’s usually easy to apply.
All works under the agreement between the participant and the organizer are carried out within the framework of the client agreement through trading terminals or the personal area of the deposit holder. Let’s consider the order of actions, how to withdraw money from Binomo. To withdraw money from your account, you need to form an application:
- Press the “Withdraw funds” button;
- Select the amount for withdrawal;
- Specify the method of transfer. Selection of other details (not the deposit account) is allowed after verification of the user’s identity;
- In the comment to the request, it is necessary to specify the reason for reducing the trading balance, for example, profit-taking.
After the request is formed, the broker reserves the right to check the financial parameters within 24 hours.
Selection of the deposit method
It cannot be said with full confidence that it is brokers who introduce additional conditions that complicate the return of funds from traders’ deposits. Most of the requirements are imposed by the legislator.
Thus, if the owner of Binomo account deposits from one card and withdraws to another, using the limits of cash flows, there may be a suspicion that he simply chases the amounts through the company. Usually, after a particular user is warned by the regulatory authority, there may be a risk of account closure and loss of own funds.
Each trading access provider is required to maintain a high level of security when working with the system. The analysis of the existing practice is expressed in equipping Binomo platforms with the most modern means of restricting unauthorized access to market processes management and financial accounts of participants.
It is important to understand that verification at Binomo.com is carried out not so much for the purpose of organizing access to trading, as to the algorithm of withdrawal of money. Due to the fact that most binary options brokers in Russia have registration in offshore zones, the main focus is on players who often become owners of large states. Therefore, the question of how to withdraw money from Binomo is much more difficult than depositing.
Verification takes place exclusively in the European style: a person just needs to show a scanned copy of his/her passport and send a bank account statement to the application form (it should contain the home address). When submitting documents for verification by a special department of the broker, it is important to understand that all the data must be specified. Employees of brokerage companies check clients with trial calls in order to detect fraudsters from time to time.
Withdrawing profit from the Binomo platform
Contrary to the information provided on the Internet, Binomo works clearly and consistently with clients’ money.
Withdrawing money from Binomo is available only to the same account from which it was deposited and after passing the verification procedure.
The average time to receive money usually does not exceed one working day. If in the opinion of the deposit holder, it is time to withdraw a certain amount of money, it is necessary to start with the rules of the company. There is a parameter such as minimum withdrawal on Binomo. It is noted that the broker really offers democratic conditions of account maintenance.
The smallest deposit can be 10 dollars or euros (500 rubles), and the bet on the option is possible with one dollar in the account. The system also provides for the maximum limit of money available for a single withdrawal with binomo. The cost of one order cannot exceed 10000 EUR/USD in the equivalent of 300000 rubles.
There is a special section on the official website of the brokerage company, which provides detailed answers to frequent questions. Thus, in the chapter of finance, there is a subsection “What is the minimum amount that can be withdrawn from a trading account? The answer appears after clicking on the illuminated area – from 10 dollars or euros. The maximum term for the transfer of earned assets to a trader’s account is up to 3 working days.