There is nothing that turns off binary options traders faster than having problems making withdrawals from their account. After all, the money in the account belongs to them not the site they trade on. Hidden fees can be another big problem too. These are all things about withdrawals that OptionFair is careful to avoid.
As was stated, withdrawals can be a deal breaker between many binary options websites and those that trade on them. We have stated countless times on this website that we go out of our way when searching reviews and making them that we look for negative patterns that are exhibited by certain binary option brokers. If one of our recommended brokers is found not to be honoring withdrawals properly and in a timely manner, then they will be removed from the list. We are pleased to report that there were no complaints about OptionFair’s withdrawal practices.
OptionFair withdrawals are uncomplicated and easy to initiate. Many times a withdrawal can be initiated with just a few clicks of a user’s mouse. The first withdrawal needs to be verified and then after that the process goes much faster; this is all part of OptionFair protecting their client’s sensitive financial information. For credit card withdrawals a customer will have to provide a scanned copy of a valid id, utility bill (to verify the address) and the credit card itself. The procedures for other withdrawals are similar and these policies and the associated withdrawal fees are all clearly explained on the OptionFair website. If there are any problems or questions, then the investor is urged to call customer service.
There are rules when making withdrawals too. The minimum withdrawal amount is $100. Also, a customer is not allowed to withdraw any bonus money until they have traded 40 times the amount of their initial bonus. If the money is withdrawn before that, then all bonus money that remains is forfeited; this is to protect the website from customers just signing up then taking the bonus money and leaving. The investor can only withdraw by credit card an amount equal or less to their initial deposit; any amount over this must be withdrawn by bank wire transfer.
To make a withdrawal a customer simply has to go to the banking portion of the website. They just have to click on the withdrawal tab to initiate the withdrawal. Once an account has been verified withdrawals usually proceed very smoothly. That is the way OptionFair’s customers like it and that is the way OptionFair likes it too.
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References and Further Reading:
1. Exchange rate movements as explained by dealers (T Hutcheson – 2003)
2. Covered interest arbitrage and market turbulence (MP Taylor – 1989)
3. Artificial Neural Networks in Finance and Manufacturing (J Kamruzzaman – 2006)
4. Emerging market corporate bonds—A scoring system (EI Altman, J Hartzell, M Peck – 1998)
5. Nominal effective exchange rate and trade balance adjustment in South Asia countries (AK Lal, TC Lowinger – 2002)
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