Deposit & Withdrawal Methods In Binary Options
Deposit & Withdrawal Methods In Binary Options
With binary options trading growing in popularity, a lot of people all over the world are now jumping in and learning not just about binary options, but the world market in general. This is definitely a good thing, as the stock, commodities and Forex market should not be mysterious things in the business world that the general public does not understand, and yet has a profound effect on their lives. The more people understand how the market drives economies and the people within those economies, the more power they have to take control over their financial futures.
That’s why it’s important to always be informed about matters that affect you and your personal finances. When it comes to binary options, you’re in charge of making your own trades. It’s up to you decide the best way to use your money, and how you want to go about trading. But the exact mechanics for getting your money in a position to trade and how get and use that money may not be familiar to you if you’ve never traded in binary options before.
With that in mind, we’ll explain how the deposit and withdrawal system works at 365 Binary Options, which is not that different from many other broker services and trading platforms that are available today.
Depositing Into An Account
The most important thing to remember when it comes to binary options trading is that your personal finances are always safe. A trading platform like Binary Options 365 always has clear, distinct “gates” that separate your own money from the money you use specifically for trading. As with many other broker services, you are required to create a trading account, and deposit a minimum amount of money into that account. The only money that will ever be used for trading will be from this account. If you suddenly get inspired to make a particular trade, but do not have the funds available in your trading account, the trade will not go through, even if you have sufficient funds sitting in your personal account. 365 Binary Options will never, under any circumstances, touch your personal bank accounts for a withdrawal.
Your deposit is important because you will receive different tiers of service for maintaining a minimum amount. So, for example, the minimum amount you are required to deposit is $200 and this entitles to a “Mini” account. If you maintain a higher minimum amount, you receive more perks and benefits, with more services available to you.
Creating a trading account means you can deposit funds either through your credit card, or a bank funds transfer directly from one of your own bank accounts. Currencies accepted for use in the trading accounts are American Dollars, British Sterling Pounds, or the Euro.
Once again, it’s important to remember that only this money will be used for trading. When you actually conduct a trade, 128-bit SSL encryption is used to protect your financial information and shield the transaction itself from outside observers. The only people that will ever see the full details of your trades are yourself and the markets that you are trading ot.
Withdrawing From An Account
Unlike your personal bank account, a trading account is considered a business account, so there are considerably more layers of security and approval to get through before money is moved. This means that unlike using an ATM or using your bank’s online portal to move funds around, a withdrawal from your trading account is NOT instantaneous. This is perfectly normal for a business banking transaction, and most of these transactions take anywhere from 1-3 business days to complete, depending on when the withdrawal request was made, such as on a Friday, when all business banks will be closing for the weekend; in such cases you shouldn’t expect any response until Monday.
However, the other important thing to note with withdrawals is that there is a minimum amount, which is 100 of whatever currency you use in the account. These account withdrawals will be made based on the form of deposit that is made. This means that if you made a deposit using a credit card, then the funds will be deposited to the credit card. If the transaction was made with a fund transfer, that will be used instead.
Wire transfers can also be used for withdrawals, but only for amounts that exceed an initial deposit. So, for example, if you transferred $500 through a credit card, but wish to withdraw $1000 in profit, $500 of that will be deposited into your credit card because that was the initial amount, but the remaining $500 can through a wire transfer directly to your bank account.
Your bank account must have the same name and ownership as the binary options trading account. There will be no transactions if there is a discrepancy between these two.
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