Binary.Com withdrawal issues

Although it is indeed frustrating for a trader to have any sort of restrictions on withdrawal, there are some occasions where a broker refuses payment because of regulatory and compliance issues. These are rules that are outside of the broker’s control and require a certain degree of co-operation from the client. These are required in order to prevent any fraud when depositing funds. Binary option brokers do not want criminals to be funding option accounts with credit cards that are not theirs.

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Binary Options Account Withdrawals, binary.com withdrawal issues.

Binary options account withdrawals

Have you ever had a binary option withdrawal problem with a broker?

It is one of the most infuriating experiences in the world when a broker refuses you the right to withdraw money from your binary options account.

This has been of the most blatant binary options scams in recent years and has duped a number of traders out of their hard earned money.

All traders should have the right to withdraw their money as quickly and easily as they wish. However, there are occasions when actions you take may limit your withdrawal rights.

We cover a number of things to avoid as well as a few methods for you to implement if a broker is not letting you withdraw money from your binary options account.

The withdrawal process

Of course, in order to complete a withdrawal, you will need to take a few steps and tick a few boxes in order to allow the broker to process the request. Indeed, it is true that withdrawals request tend to be harder to make than deposits but as long as the client can easily withdraw then they can at least begin the process.

Choose the amount

The first step that you are required to complete is to choose the amount that you would like to withdraw. This could either be a portion of the profit that you have realised or it could be the entire deposit that you have with the broker. Choose carefully as withdrawing and depositing usually can come with some additional fees. The broker may also have a minimum / maximum withdrawal requirements that you would need to confirm prior to this.

Select your method of payment

Brokers usually have a number of methods for you to receive the payment. Generally, the broker will pay you using the method that you initially decided to fund. They could refund your credit card, send it via wire or use any number of e-wallets like skrill and neteller.

Confirm your decision

Depending on the broker, there may be a third step that is required in order for you to confirm your withdrawal. This could either be a confirmation email or a call from the broker. We find these to be a hindrance and don’t approve of brokers who do it. Yet, if they honour the commitment then no harm no foul.

Waiting period

This may be a stickler for some people who want access to their money immediately. Unfortunately, if the broker is using traditional payment methods it could take anywhere from 3-5 business days. Of course, some brokers have the option of same day withdrawals as well as bitcoin withdrawals. These may cost slightly more depending on how long you are willing to wait. Withdrawal times can also be slightly longer depending on how quickly the support staff at the broker are likely to process it. Once they have said that they have authorised the payment, it is usually prudent to request the broker to send you a confirmation email of the withdrawal.

What else may be required?

For example, one of the most important legal requirements for a broker is to make sure that they have all required documents for the withdrawal. These documents are needed for compliance purposes to make sure the trader is indeed who they claim to be. Although this may sound silly at first, there are some very serious money laundering concerns that brokers may have to deal with from the regulators and banks.

Most professional brokers will request all of the required documents the moment that the account has been set up. This is because they want to make sure that they can provide the most seamless withdrawal process possible without hampering the client’s experience.

Below are some of the most important documents required by the broker if they wanted to make certain that their withdrawals are processed quickly:

Proof of identification

This is required in order to prove that the person who is requesting the withdrawal is indeed who he / she says they are. This could either be a passport, identity card or drivers licence

Proof of residence

This is also required to confirm that you do indeed live where you claim to. This could either be a utility bill or bank / credit card statement. It would need to have been dated in the last 6 months.

Credit / debit card pictures

These are required in order to prevent any fraud when depositing funds. Binary option brokers do not want criminals to be funding option accounts with credit cards that are not theirs.

If the binary option broker did not request this information when you first funded the account then they would require it on the withdrawal request. Indeed, if some of the documents are not up to spec in terms of quality or requirements then the broker may indeed ask you for additional documents. Of course, “additional documents” should not be used as an excuse and this is often a tactic employed by dishonest brokers (more below).

Am I legally bound?

When a trader is about to deposit money with the broker, they should carefully read the terms and conditions. This is one of the most crucial steps as these T&cs are where the broker usually inserts a lot of the legally binding conditions. One of the most binding of them all is the broker bonus.

A broker bonus usually sounds like a good idea in theory. The broker is willing to give you some “free” money to trade with which is sometimes as much as 100% of the amount that you invested. However, what you don’t realise is that in the broker terms and conditions, this usually comes with extremely restrictive withdrawal requirements. This is one of the reasons that binary option broker bonuses are the most contentious offer by the broker.

These binary option withdrawal requirements are usually some sort of trading volume on the account. These are termed “turnover” requirements and can be outlandishly large on some occasions. We have even seen examples of turnover restrictions as large as 40x of the the bonus amount.

These bonuses are technically legally binding and the broker can keep the client tied up until the terms of the bonus have been met. It is for this reason that binary option regulators such as cysec have decided to ban the issuing of these bonuses.

Is the broker dishonest?

Of course, there are situations in which the broker is refusing to allow you to withdraw from your binary option accoubt. Unfortunately, we have seen this quite often and in many cases there is no right for them to refuse it. One of the cases in which the broker tries to make it incredibly difficult is to request more and more documents from the client.

We have heard of situations in which the client has sent all of the required documents and the broker has still made up some excuse as to why they are not compliant. These could be excuses such as legibility or legitimacy. It is true that the documents have to be clearly legible and they have to be a clear photo with all the edges shown. Yet, if this is the case and the broker is still complaining then they are being dishonest.

Brokers may say that they require another form of ID. For those unfortunate traders who do not have another identity document, this could be incredibly burdensome. ID documents also usually take a lot of time to attain and the binary option brokers are aware of this.

Another tactic that we have indeed heard of is the case when a broker arbitrarily applies the broker bonus without a request from the client. This is also a brazen move that attempts to lock the client in with the broker and restrict the withdrawal.

Eventually, the broker will simply become unresponsive and stop responding to clients. They do this in the hope that the trader will grow tired of chasing the broker and eventually stop contacting them. Although many traders keep up the good fight, there are a number who do indeed give up which is a real travesty.

What else can you do?

If the broker is still refusing to honour your binary option withdrawal request, then there are a few other things that you can do in order to force your withdrawal. The first step is indeed to send the broker a strongly worded email. You should tell the broker that you know your trading rights and have provided everything that they have requested.

If the broker is still refusing to honour your withdrawal then you should let them know about the steps that you will go to in order to obtain your funds. You should tell the broker that you will get in touch with the regulator and their payment processor in order to escalate your query.

The brokers are usually quite protective of over their regulatory licence and their means of payment. If either of these are threatened then the broker will be quite wary of holding on to your funds. Indeed, some of the members at the trading club have used this tactic and the brokers have relented.

If the broker is still refusing to co-operate then you should follow through with your threat. Keep a record of all of your email, skype and IM conversations as these may come in handy. Depending on the jurisdiction of the broker, the regulatory agency you need to contact may vary. Some regulatory agencies are more effective than others but they all warrant a try.

The broker’s payment provider also does not want to be an accessory to any binary option withdrawal scam. Hence, if you are able to present all of the evidence they may be willing to simply refund you the money. If they do not do this then they should at least reach out to the broker and warn them about the implications of using their services for these purposes.

Tell the community

When it comes to trading online, your greatest allies are indeed fellow traders. They are able to share their experiences of binary options withdrawal issues. Not only can they provide advice on how to recover funds from the broker but they can also help spread the word about the broker to other traders.

The reputation of binary option brokers is quite important if they are to get any further business. No trader would want to deal with a broker that has used deceptive and dishonest practices in the past. When people combine their efforts and spread the word through a number of online sources, the brokers name will eventually become tarnished.

The trading club is a community of option traders who regularly share information on some of the industries more unsavoury actors. Nothing irks our members more than binary option withdrawal problems.

7 binary options

Binary.Com withdrawal

Binary.Com withdrawl process

Binary.Com withdrawal process is not that difficult; depositing of funds into binary options trading is an easy process since the broker cannot refuse your funds. The process of depositing will work out efficiently and smoothly for you. But, the issue is when you want to withdraw some profits. The process of withdrawal feel a bit overwhelming at times, however it is not so difficult. The reason why most people feel that withdrawals do not go so smoothly is because of the financial limitations have been placed in the global economy. Other issues may be related to human error or misconceptions or to individual binary options brokers.

In the world economy today most binary options are based in one location situated in, while the account holders hail from various parts of the world. Users who belong to companies like binary.Com have several deposit options at their disposal like credit cards, wire transfer or ecash. The same princopals are allotted for binary.Com withdrawal.

The only tedious aspect of a binary.Com withdrawal is the requirement for the clients to submit various forms to comply with the set laws concerning ilegal prattices. The are not allowed to skip these standards as they are needed for legal ramifications. Account holders cannot afford to let their emotions take over when you have asked to show proof of identification as it can work out for your protection alone. For example, anyone can steal your identity online and it is possible that the same person can request a transaction from your from your account broker.

This is the primary reasons why brokers insist that their clients provide the proper identification forms before the withdrawal is completed so that they can truly establish the identity of the account owner. This would also apply if you were going to a physical bank and withdraw money after filling out a withdrawal slip and having to present proper ID.

It is entirely possible to withdraw your initial deposits through in a similar manner. Profits, however, are generally withdrawn via wire transfer. Another reason that traders are concerned about the withdrawal process is withdrawal limit. This is not generally a concern for those traders with a balance under ten thousand. In the case of higher balances, however, the binary.Com withdrawal can be split into more than one withdrawals when there is a pressing need for the withdrawal.

Minimum deposit of only $5 with binary.Com

Binary.Com has one of lowest deposits requrirements of all binary options brokers, if not the lowest, at only $5. This shows that the broker is extremely dedicated to working with all types of traders, from beginners to novice, to those serious about trading, to those who are just dabbling in binary options, and to those traders from all financial backgrounds. Traders can make deposits in euros, AUD, GDP and USD, whichever works best for them. It is a key factor to remember that the currency from cannot be changed once it has been selected. Every deposit and withdraw as well as executed trades, on that account must be made in the same currency.

Binary.Com not only has an extremely low minimum deposit, but the minimum investment limit is low as well. Traders can bid on binary options with as little as $1. This ensures that with the $% traders are able to place 5 trades. This is an outstanding ratio considering that other brokers normally require much higher amounts to initiate a trade. It is important for the traders to know that the minimum deposit rate does vary depending upon the type of currency used, as well as the banking method.

Binary.Com bonus

Everyone who registers with binary.Com will receive the equal chance to be able to receive the bonuses offered by this broker. Every trader will be taken into consideration for these amounts. Clients can contact the binary.Com support team for specific bonus amounts. The bonuses offered by binary.Com will keep the traders motivated and instill as sense of confidence as they participated in various types of trades, financial instruments and a variety of commodities. Traders have the chance to make money simply by just investing nominal amounts. In order to be eligible for a binary.Com bonus, traders will be asked to first verify their identity when they register with the binary.Com trading platform.

The bonus amounts offered at binary.Com are large, which makes them stand out from other online binary options platforms. The bonus amount can be instantly withdrawn by the client one it is credited to their account. They will however first have to utilize the amounts to trade in the various commodities that are offered by this broker.

The binary.Com deposit bonus shall be processed to the client’s account when the minimum deposit requirement has been met on the part of the client and the client has reached a 5x turnover over the bonus amount. Clients can only receive this bonus if they have a real money account with this broker. This binary.Com bonus is available to new clients only. Former clients are not eligible to receive this particular bonus again. As well, this bonus is only available once per household and cannot be used in conjunction with other bonuses.

The free bonus code can only be entered once an account is open and activated and also cannot be combined with other binary.Com bonuses. In the instance where an account is solely funded by the bonus code, the amount of the binary.Com bonus, as well as the profits, cannot be withdrawn under the client has reached a 25x turnover amount of the bonus value. Once a trader receives a binary.Com bonus could, it can be entered in the allocated bonus code space when the client has completed setting up their account. Traders are entitled to a 25% when they open an account with binary.Com

Does binary.Com provide a demo account?

Binary.Com has a demo account available for its traders, a feature that many traders look for when choosing to sign with a broker or with binary option robot. However, it under the name of “virtual money account.” this is a great feature for traders to gain some practice experience trading binary options before making real trades with their hard earned money.

The virtual money account is 100% for all binary.Com users and each trader receives $10,000 in virtual cash to use on practice trades. Users can practice every type of trade that is offered on binary.Com so they can experience the all of the expiry times that are offered on the real platform, including the 60seconds trading option.

Features that are available on the actual platform such as “stop loss” or “take profit” are available as well on the virtual money account. On the virtual account, traders have also given access the technical analysis tools offered on this outstanding platform, which makes their virtual trading practice appear even more genuine.

To access the virtual money account users must use the following steps:

Binary.Com withdrawal 2021

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This regulated broker, due to cysec’s decision, no longer provides binary options bonuses!

Binary.Com withdrawal may not be as complicated as it seems; depositing of funds into binary options trading is simple because the broker cannot deny taking your money. The process of depositing will work out efficiently and smoothly for you. But, the issue is when you want to withdraw some profits. The process of withdrawal may seem complicated but it is not so difficult. The reason why most people feel that withdrawals do not go so smoothly is because of the restrictions that have been placed in the global economy. Other issues may be related to the human factor itself or to individual brokers.

In the world economy today, most binary options brokers are situated in one place whereas the traders are from various parts of the world. The clients of companies like binary.Com have several deposit options at their disposal like credit cards, e-cash or wire transfers. The same methods are allotted for binary.Com withdrawal.

The only tedious aspect of a binary.Com withdrawal is the requirement for the clients to submit various forms to comply with the laws concerning money laundering. The brokers cannot skip these requirements as they are needed by law. Clients cannot afford to get frustrated when you have to provide proof of identification as it can work out for your protection alone. For example, anyone can steal your credit card and it is possible that the same person can request a withdrawal from your binary options broker.

This is the main reason why brokers insist on the proper identification screening before the withdrawal phase so that the identity of the genuine owner of the account is established. It is the same as going into a bank and withdrawing money after submitting a withdrawal slip.

It is very much possible to withdraw your initial deposits through similar methods that are assigned for depositing of funds. Profits of traders are generally withdrawn by means of wire transfers. Another major concern for withdrawals is the maximum amount limit. Traders who keep their amounts less than ten thousand may have no worries on this issue. In case of higher amounts, binary.Com withdrawal could be split into multiple withdrawals when there is an urgent need for money.

Minimum deposit of only $5 with binary.Com

Binary.Com has probably the lowest minimum deposit of all brokers – only $5. This shows the broker’s dedication to be open to all types of traders. Traders can make a deposit in USD, AUD, GBP or euros, whichever suits them best. It is important to note that once the currency has been selected it cannot be changed. All deposits and withdrawals must be made in the same currency, and all trades must be executed in it.
Not only that binary.Com has user-friendly minimum deposit, but minimum investment limit as well. Traders can start placing trades with as little as $1. This means that with $% deposit trader can place 5 trades. Compared to other brokers who require higher amounts for trading, this is really a great ratio. What is important to know that minimum deposit rate varies depending on banking method and currency used.
The minimum deposits for different methods and currencies are:

• $5 – paysafe (USD, EUR), qiwi (USD, EUR), webmoney (USD, EUR), moneta.Ru (USD, EUR), neteller (USD, EUR, GBP, AUD), skrill (USD, EUR, GBP, AUD), perfectmoney (USD), faspay (USD), okpay (USD)
• $10 – visa (USD, EUR, GBP, AUD), mastercard (USD, EUR, GBP, AUD), unionpay (USD), western union (USD, EUR, GBP, AUD)
• $25 – bank transfer (USD, EUR, GBP, AUD), internet bank transfer (USD, EUR, GBP, AUD)
• $100 – internet banking (USD, EUR, GBP, AUD)

Binary.Com bonus

This regulated broker, due to cysec’s decision, no longer provides binary options bonuses!

Deriv.Com withdrawal

One of the oldest brokers in the trading world, binary.Com, is well known for the variety of options it can offer to its clients. Primarily, these include numerous assets and trading platforms you can use, but the number of money transfer methods is equally impressive. Deriv.Com is their newest brand, and your deriv.Com withdrawal can be executed in many different ways, as we are about to show you. Obviously, every trader wants to see their profit delivered to them safe and sound, and this broker does just that, but in a really impressive way. To find out what we mean by this, all you have to do is keep reading.

Deriv.Com withdrawal | so many methods

First of all, allow us to say that deriv.Com withdrawal is as safe as these processes get. You can read more about that in our is deriv.Com a scam? Article, but suffice to say that they are regulated by six different agencies. We counted more than 20 different methods you can use to execute a withdrawal here, from credit cards and bank wires to online payment systems. More notable methods include visa and mastercard credit cards, as well as systems like skrill, webmoney and neteller, but there are so many other options you can use. All of them are quite easy to understand, so you’re pretty well covered in this area. However, a lot of numbers associated with this process will depend on the method you choose, but we will talk about that in the next paragraph. Stay with us!

Deriv.Com payment methods

Deriv.Com withdrawal | numbers

Minimum deriv.Com withdrawal amount starts from $5 for e-cash systems and $10 for credit cards and various bank wires (more numbers concerning this broker can be found in our deriv.Com review). These, especially the first two, are all very favorable deals when compared to many other binary options brokers and match the minimum deposit requirements, so you won’t have to worry about how much funds you have in your account balance. The situation is pretty much the same when it comes to withdrawal times because they vary from one (e-cash) to five (wire transfers) working days. It should also be mentioned that the broker does not charge any fees for withdrawals, which is another big advantage of trading here.

Do keep in mind, however, that there is a limit to how much you can withdraw at once. In most cases, this is 10,000 USD or EUR, but some options go much lower than that (qiwi, for example, allows you to only withdraw 180 USD or 150 EUR at a time). Nevertheless, you have the full freedom to choose the method that suits you best. Think about it a bit and then make your choice.

Binary.Com reviews

957 • great

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Reviews 957

More experience got more profit paths.

More experience got more profit paths.
Everything is not easy, but with binary first we should learn, then that knowledge will make you earn.
No pain no gain.

Thank you for taking the time to share a review and a rating with us. We are very happy to hear that you are enjoying your trading experience on binary.Com and rate our services so highly.

I only lose my money

I only lose my money, 300 usd (: thanks so much

Thank you for taking the time to share a review and a rating with us. We regret to hear that your trading experience on binary.Com was not profitable. We encourage you to make use of the free demo account to try out new strategies and trade types before risking real money - this way you can gain skill and confidence to execute trades on real account.

It is a platform that is very easy to…

It is a platform that is very easy to understand and their resources help which is the best momento to make an investment.

Thank you for taking the time to share a review and a rating with us. We are very happy to hear that you are enjoying your trading experience on binary.Com and rate our services so highly.

Very good service almost close to…

Very good service almost close to excellent service..The only thing to improve it's your bot! But so far this broker seem to be good.

Thank you for sharing your feedback with us. We are truly happy to hear that you are enjoying your trading experience and appreciate our services. Rest assured, we are constantly working on improving our platforms and products and further improvements to the bot will surely happen.

Very good!!

Thank you for taking the time to review binary.Com. We are very happy to hear that you are enjoying your trading experience with us and rate our services so highly.

Unlock my cashier

They are very helpful
I am currently just waiting to unlock my account
takes forever but the have been very helpful so far

Thank you for sharing your feedback with us. We are truly happy to hear that you are enjoying your trading experience and appreciate our customer support team.

I’m confused as well as pained. I left…

I’m confused as well as pained. I left 60$ in my binary acct,no one has access to my login details. Some hours later, I got an email asking me to click and permit withdrawal..I didn’t click it cause I didn’t place a withdrawal. I tried sending an email back but it said “address not found”. In conclusion, since the person who hacked my acct wasn’t able to place a withdrawal, he then placed a trade and blew my acct

Good platform

Thank you for taking the time to share a review and a rating with us. We are very happy to hear that you are enjoying your trading experience on binary.Com and rate our services so highly.

There's need to improve on stability of…

There's need to improve on stability of your platforms. I've lost quite some amount upto 70$ due to freezing of the mt5 server. And I'm not happy about it. Secondly, I feel there's a system that trade against a trader on your platform regrettably, I voiced my frustration out during the freezing of account and I was blocked by the the telegram deriv group admin which I find ridiculous. There's need to improve the system

GOOD service

Thank you for taking the time to review binary.Com. We are very happy to hear that you are enjoying your trading experience with us and rate our services so highly.

An excellent company

I really like to operate at binary, it's a company that has a lot of responsibility and I give top marks.

Thank you for sharing your feedback with us. We are truly happy to hear that you are enjoying your trading experience and rate our services so highly.

I'm still waiting for my response

Thnq binary good service..

Thank you for taking the time to review binary.Com. We are very happy to hear that you are enjoying your trading experience with us and rate our services so highly.

I like the fact that I the withdrawal…

I like the fact that I the withdrawal process was easy n simple n i like how safe everything is done when it's come to security but the issue I noticed is the calling process your contact number not answering

Thank you for sharing your feedback with us. We are truly happy to hear that you are enjoying your trading experience. While we do not currently have an inbound call centre, our agents are always available to assist on our live chat and support ticketing platform on the website.

You guys told us we can withdraw…

Deriv has been helpful today but I think their customer support should rather be more active than the droid.
Thanks for the help today. I really appreciate

Thank you for sharing your feedback with us. We regret to hear that you are experiencing an issue with withdrawals. Rest assured, it is not due to a verification requirement but due to certain limitations imposed by the payment service provider, restricting withdrawals in certain countries. One of our customer support team members has reached out to you via email to assist you with enabling a different withdrawal method.

So far so good

So far so good. I can't complain. An app were I could use indicators would be nice but not a deal breaker.

Thank you for taking the time to review binary.Com. We are very happy to hear that you are enjoying your trading experience with us and rate our services so highly. Rest assured, while trading on MT5 is already available on the metatrader 5 mobile application, we're also working on our very own app.

My verification and withdrawal issue resolved efficiently

Binary.Com- from 1 star to 5tar ��

Really want to thank you for resolving verification issues and processing of my withdrawal. I gave 1 star earlier and rescinding to 5 star⭐⭐⭐⭐⭐. I've been trading nearly 12months with you guys and enjoy my trading journey.

Thank you for sharing your feedback with us. We are truly happy to hear that the withdrawal problems you experienced were promptly solved and you appreciate your trading experience and our customer support team's assistance to any difficulties you may be facing.

It was a good company in general terms

It was a good company in general terms, but lately it is lousy, they do not respond to emails, they do not respond to chat, and deposits take a long time to credit the account

Thank you for sharing your feedback with us. We regret to hear that your recent experience with our customer support team did not meet your expectations. Unfortunately our customer support team has been experiencing a higher than usual number of queries due to the recent MT5 outages, resulting in extended response times. Rest assured, they will be getting back to each and every query as soon as possible. We are also actively working on further improving the cashier feature and streamlining deposits and withdrawals, but some deposit methods unfortunately require a processing time from their end as well, when it comes to deposits or withdrawals.

Staff need training toaled me a lie…

Staff need training told me a lie with the auto web trading its bull s*t
if you have a mate that willing to let you copy them and they have no way to find some one that willing and all they say is ticket wean to with draw my cash 7 f#k days trick then 2 week to get the payment don't use and on top of that the UK limit is set to £1 a day lost max if u want it more have to wait 3 weeks for them to judge if they care to do the customer help line as they keep calling it what a load of trash firstly you wait 20 min for them to answer then to be placed on hold repeating i transfer you to some one that can help 30 -50 minutes later they answer to have the experience of the staff member give in no care and a brain dead person or a monkey
can do a better job don't use these scammers with fake reviews!

Then ontop the staff try to make u look like a tat jokes on you

Thank you for sharing your feedback with us. We regret to hear that your experience with us did not meet your expectations. Rest assured, the daily loss limits set to the account are set by the user and are not set to £1 by default. Unfortunately, due to regulatory requirements in the UK, each case of account limits removal or increase, even if set by the user, requires a thorough review and additional documentation as a part of our commitment to social responsibility and responsible trading.
We are sorry to learn that your experience with our customer support service was below our usual standard - unfortunately there have been a high number of queries recently, causing extended response times. Rest assured, we are actively working on improving capacity and response speed with our customer support team. Rest assured, our team has since reviewed the query and proceeded to attend to the request of account closure and refund of the funds in your account.

Having problems with your withdrawal request? You are not alone…

Published: 24th september, 2019.

Trading in the retail forex market is high risk. Yes, we have all been told that sobering fact hundreds of times on every broker’s website, but the true appreciation of the risk and the fear, we might add, may only happen when we make a withdrawal request, follow all of the rules, and then wait forever for something to happen. Does the following complaint on a forex complaint blog website ring true:

“I have been dealing with this broker for a long time. They are good for trading and for making other investments, too. In the past, I have always been able to get a withdrawal request processed quickly, but now, for some reason, I have been waiting over two months for my money. I tried contacting the company, but they are not replying to my calls or emails. I hope they make my payments soon, but I cannot help but think the worse. Is my broker in trouble or have I been completely scammed?”

At forexfraud.Com, we receive many complaints like the one above, but answering either of the last two questions at the end of the complaint requires a great deal more information to arrive at truthful answers. In this case, no one replied from the broker. A failure to communicate is indicative of a host of other issues, which could range from poor customer service to financial insolvency to being outright fraud. In many of our investigations, there is typically a lengthy litany of emails going back and forth that describe several misunderstandings or blatant excuses for why a withdrawal is being delayed or why an account has been frozen.

At the end of the day, all any trader wants is a return of his own money. If there is a bonus involved, then the broker can keep that amount, but the client’s money should not be held up for ransom… but it typically is. Many customers fail to read the fine print in the legal obligations that you accept the moment any promotional monies are added to your account. You may think the broker is giving you money, but he actually wants you to overtrade, thereby giving him an ample period of time to recover the bonus and more. For traditional forex brokers, the extra trading brings more fees. Binary option brokers, however, need you to lose to support their operation and pay winners.

Failure to fulfill bonus trade commitments may tie up your funds

There are a few legitimate reasons that could delay your withdrawal request. Your open positions may have margin requirements that will put a hold on a portion of your funds. Be sure to check how these calculations are made. If your anti-money laundering (AML) documentation is not current and in order, then you will have a problem. Brokers must follow international regulations on this issue or risk penalties and business interruptions laid down by their local regulator. The plus500 fiasco of last year demonstrated how crazy this kind of situation can get when the broker does not follow these rules.

These same rules also require that your funds follow a similar path, as when they were deposited, both in the same method of payment, as well as to the same person’s name on the account. If you try to change the how and where funds will flow, then you can also expect more delays. We wrote about these particular problems back in january of this year. As we wrote, “this type of problem is typically an early indicator that something may not be quite right with your broker. Your broker could be having financial problems, dealing with regulatory issues behind the scenes, trying to work down a large backlog of requests, or is resorting to outright fraud to stay alive.”

The vast preponderance of complaints these days, however, have to do with living up to rules set down by your broker for promotional bonuses. The broker determines the nature of these requirements, how he expects you to trade, and the discretion he has to disallow a withdrawal of his monies, if and when he suspects foul play. What is this “foul play” you ask? A highly publicized case involving ironfx and a group of chinese traders a few years back resulted in hefty fines and recriminations from all parties. The broker accused a number of traders of outright fraud and theft, while the traders accused the broker of fraud and theft, as well.

We will discuss the details of this nasty episode later in this article, but for now, let’s review the type of bonus promotions that you might encounter and the associated rules of the road, if you ever expect to withdraw any of these funds, or your own funds for that matter. Keep in mind that these rules have become more expansive and inclusive after the ironfx debacle, and that each broker is responsible for developing its own set of rules. There may be some similarities, as to form, but the formulas for deriving how much of your account balance is available for withdrawal can be complex.

What kinds of bonus programs are prevalent today?

Retail forex trading, especially the binary options sector of it, is high risk. Casualty rates run high, over 65% by some estimates and may be even higher in the digital space. For this reason alone, brokers are under intense pressure to acquire new customers. Many have resorted to aggressive marketing campaigns that include a variety of promotional bonus schemes. Brokers will advertise many of these promotions on their home page to entice you. You may have to apply for them, enter a special code, discuss the trading requirements with a customer service rep, or sign off on specific terms and conditions. Be wary of the broker that offers exorbitant bonuses or automatically credits them to your account. He may be setting an unscrupulous trap for you, a scam in progress.

Bonuses come in a variety of forms, each with specific conditions. Here are a few:

Registration bonus: upon registration, a specific amount will be credited to your account, no deposit required:

Welcome bonus: A specific amount or percentage of your initial deposit is added to your account;

Deposit bonus: there may be a special incentive for increasing your balance to a higher level after you have been active for a period of time:

Loyalty bonus: this type of bonus rewards you for your patronage;

Refer a friend: if you solicit new business for the broker, you may earn another bonus for your effort;

Risk free trades: in this case, the broker covers your early losses to encourage you to stick around and risk more money.

You should have a choice in the matter. You do not have to accept a bonus and the stringent conditions attached to them. Be suspicious, if this is not the case.

What types of trading requirements are prevalent today?

Traditional forex brokers tend to be more lenient in their bonus trading requirements. There may be very complicated formulas that apply a percentage, based on your account value before and after the bonus has been added, to determine what amount of your account balance can be subject to withdrawal. Other brokers may segregate the bonus in separate account and allow you to do whatever you want with your deposited monies, independent of the bonus amount.

Due to increased competition and high casualty rates, this issue has become very murky of late within the binary options space. The business model for these “all-or-nothing” options does not help either. Remember that binary options are very similar to online gambling – the house sets the odds and then uses funds from losing trades to pay winners and fund the house. There is no market that can create a “win-win”, as in traditional retail forex trading. In this case, the house always wins and must market aggressively for new clients.

As you might expect, binary option bonuses are heftier and come with heftier trading requirements. Your entire balance may be locked down until you trade anywhere from 20 to over 50 times your bonus amount. If your bonus was $1,000, could you afford to trade $50,000 worth of trades, before requesting a withdrawal? The odds are in favor of the house that you would lose both your bonus and your deposit long before you ever met this requirement. Many traders come to this realization after a string of losing trades and rush to request their money back. “no can do,” says the broker.

What happened to ironfx and its bonus programs?

Ironfx was one of the innovators for using aggressive bonus programs to grow its global customer base, and it was highly successful. Its business model drew both scorn and competition, but it was only a matter of time before a group of “malicious” traders developed a clever way to “game the system”, as the management of ironfx contended in legal proceedings.

The issues came to a head when accounts were frozen for 160 chinese clients and others, due to rule violations. The firm’s shanghai office was stormed and ransacked. Legal briefs were filed in cyprus, and, as was reported, “cysec went so far as to fine the firm €335,000, its largest fine to date, and ASIC ordered the firm to correct its disclosure documents.”

The ironfx CEO, markos kashiouris, noted in press interviews that, “indeed this claim is related to the recently identified group of abusive traders that employ an abusive trading strategy to manipulate our promotions. This group has been placed under investigation for breach of our trading terms and pending this investigation we have put a limitation on all promotions-related withdrawals from this abusive trading strategy as we are entitled to do. We are not doing anything different from other companies in the industry in china.”

The abusive trading strategy was not divulged. It is not that difficult to surmise that two duplicitous individuals could set up separate accounts and receive two bonuses. One account would buy a “high” option, while the other, a “low” option for the same asset. Over time, this hedging approach might result in bonus money being left on the table for withdrawal – maliciously “free money” from the prospective of ironfx management.

Concluding remarks

The moral of this promotional bonus story is to be very wary of the terms and conditions attached to any bonus program. By accepting these terms, you may have dug a hole so deep that you would never be able to climb out of it. Bonus programs can often be today’s version of a trojan horse.

How 2 find honest binary broker with no withdrawal issues?

Binary option trading provides a new and a very attractive platform for traders. Investing money in forex and stock markets price movement was never this easy. Binary trading has become the craze of the decade and its popularity stretches all over the world.

In this adventurous venture, the first step is finding a trustworthy and honest binary trading broker, which by the way is not an easy task. Before you decide to create an account with any broker, you should do thorough online research to make sure that the broker does not have withdrawal issues. Make sure it does not have a bad online reputation.

After a lot of research, I was able to find one of the few honest binary options companies. Based in UK, marketsworld.Com is a legitimate broker who always pay you your profits. You will not face any withdrawal issues at all.

Dishonest people run most binary companies

Employees hired by dishonest brokers vow to protect the insane company profit margin by using all kinds of deceptive moves while the ceos laugh and enjoy the show from a lofty perch. These companies are giving a bad name to binary options business. Traders are losing trust in binary options and they are choosing other investment opportunities.

Some brokers are famous for not paying their customers if they make profits in trading. Use google to find forum discussions. Spend some time in doing online research, it will benefit in the end.

Finding an honest broker:

The most important task is to find an honest company. Forget about all other things; focus on only finding a trustworthy and honest organization. Following are some suggestions that can help you in this regard.

1. Start by doing online research; do not search for REVIEWS as most of them are just advertising the broker. Instead, search for forum discussions. There are many websites where there is a whole section dedicated for trader’s complaints. You can learn from experience of other traders.

2. What is the reason for brokers to dislike traders who make profits?

It is because they have to pay the profit from their own pocket. Contact the broker that you are testing for honesty and ask them the following questions.

If a trader wins then who actually is paying the profit?
Where is this money coming from?
If trader wins, do you pay the money?

If they tell the truth, which is that the broker will pay it from its own pocket, then it is a thumbs-up for the broker.

If the answer is dubious, then that is not a good sign. Dishonest companies have a policy of lying about how binary trading works and they try to give the impression that they care about traders and that they actually want traders to WIN all the time, which is not true. Such liars will give confusing answers and will try to implicate that some third party is giving the profits on trades and that they only take a small commission.

Withdrawal issues:

Many binary trading companies have an egregious reputation in terms of not processing withdrawal requests. Delay in processing withdrawal requests is one thing, but if a broker refuses to give out profits to its customers then that is an unethical behavior and someone needs to take legal action against such dishonest brokers. Unfortunately, majority of binary trading companies are dishonest and they operate their business in a foul manner.

Check the features:

Before you join a broker, make sure it offers all the features you are interested in using. For instance, not all brokers offer 30 or 60 seconds trading platform. There are two main binary trading platform providers in the market, SPOTOPTION and tradologic. Both offer different interface and trading features. For instance, range/boundary trading is currently only available in tradologic platform.

Bonus scam:

If you deposit 250 dollars, many brokers will offer a 100% bonus. If you accept the offer, you will have $500 in your trading account. But at what cost? An honest broker will inform you about the full terms & conditions associated with taking a bonus. Corrupt ones will insist you to take the bonus while pretending that it has no strings attached.

According to common bonus policy if you accept a 250 dollars bonus, you then have to achieve a total of 10,000 dollars trade volume before you can request a withdrawal. The worst binary companies lock traders account from requesting withdrawals until they have met the conditions; this means that you can’t even withdraw your own money. Regulated and honest brokers have much acceptable provisions for taking a bonus.

It is crucial that you find a trustworthy and honest company otherwise; you will be wasting money as well as your time if you join a shady organization.

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Published: 24th september, 2019.

Failure to fulfill bonus trade commitments may tie up your funds

What kinds of bonus programs are prevalent today?

Bonuses come in a variety of forms, each with specific conditions. Here are a few:

Registration bonus: upon registration, a specific amount will be credited to your account, no deposit required:

Welcome bonus: A specific amount or percentage of your initial deposit is added to your account;

Deposit bonus: there may be a special incentive for increasing your balance to a higher level after you have been active for a period of time:

Loyalty bonus: this type of bonus rewards you for your patronage;

Refer a friend: if you solicit new business for the broker, you may earn another bonus for your effort;

Risk free trades: in this case, the broker covers your early losses to encourage you to stick around and risk more money.

You should have a choice in the matter. You do not have to accept a bonus and the stringent conditions attached to them. Be suspicious, if this is not the case.

What types of trading requirements are prevalent today?

What happened to ironfx and its bonus programs?

Concluding remarks

So, let's see, what was the most valuable thing of this article: are you having binary option withdrawal problems? We look at a number of tactics to protect yourself from scam brokers and recover your account funds at binary.Com withdrawal issues