Pocket Option withdrawal: How to withdraw money
|Payment methods||Wire Transfer, Credit Cards, E-Wallet, Crypto|
Pocket Option has emerged as one of the leaders in mobile trading platforms and binary and digital options providers. Generally, while selecting a trading platform, one must primarily look at the withdrawal options it provides and if they are hassle-free or not. With several competitors now in the scene, let us take a look at how Pocket Option, which was founded in 2017, holds up when it comes to withdrawal policy and other associated fees. In this article, we analyze the features of Pocket Option as a viable trading platform.
A trading platform comprises a UI-based application that provides CFDs or Contracts for Differences. Trading is a fast-paced investment in which you do not invest directly in assets; instead, you trade over the underlying assets’ values. There has been a tremendous rise in the popularity of trading over the course of the last few years, owing to its accessibility and ease of transactions. Generally, to invest anywhere, you would need a broker.
However, trading platforms like Pocket Option and many other generous benefactor platforms have eliminated this archaic brokerage system for a more crowd-funded and crowdsourced approach to trading. In this article, we explore Pocket Option, particularly its no brokerage policies and other features that set it apart from other contemporaries.
As a trading platform, Pocket Option is geared towards providing the smoothest trading options to its users. This stems from its deep-rooted philosophy of being crowdsourced and is exemplified by its policy of no brokerage charges or withdrawal fees. Its source of income is the volume of trades. While CFDs are complex trading instruments, Pocket Option provides possibilities of up to 218% payouts and a wide variety of assets to diversify your investments.
Pocket Option provides hassle-free withdrawals and deposits with the help of third-party payment service providers for every part of the world. Apart from this, its simplified and slick UI provides solid indicators, signals, and other features that ease trading even for beginners. Also, specifically for beginners, Pocket Option offers a demo account without real Money to get started and learn the basics of trading. Veteran traders can also utilize the said demo account to test out novel trading strategies.
Pocket Option has an amazing and active community of traders along with a large amount of high-quality educational material regarding trading, also designed and geared towards an uninitiated crowd. In addition, pocket Option provides cashback and other loyalty programs such as trading tournaments and bonuses. All in all, coupled with the ease of deposits and withdrawals we talked about earlier, this plethora of features and an attitude of goodwill make Pocket Option one of the most viable trading platforms out there active right now. Now, let us take a detailed look at the withdrawal policy followed by the Pocket Option.
A client can send a request for withdrawal to the company Pocket Option at any point of time provided they have fulfilled the following prerequisite criteria:
- Provided the company with their information and accepted their agreement.
- This initiates registration, and verification requires scanned photo and ID documentation (bank details, scans of other financial documents).
- The verification and subsequent registration takes 30 business days to process
- They have made an initial deposit, and their withdrawal amount does not exceed the amount they have deposited in one transaction
Pocket Option takes responsibility for any funds in their caretaking, starting only from the point in time of deposit and just before the time of withdrawal. Pocket option also reserves the right to deny service in the event of suspicious activity from the user’s end.
A user can withdraw to the limit of the balance in their account; there is no upper cap to the withdrawal amount. It must be noted that all withdrawals must be made from the exact payments service used by that particular user’s purse ID to make all their deposits.
Suppose you can no longer use that specific payments service due to unforeseen circumstances. In that case, you will need to contact the support desk to switch the payments options to any other verified PSP accepted by Payments Options. All withdrawals must also occur in the same currency as deposits.
In a withdrawal request in another currency, current conversion rates will be applied while green-lighting the transfer. This must be kept in a note for currencies with very dynamic rate movements. The current conversion rates upon which these decisions are based are not necessarily the same as the global standard or the rate decided by the authorities of that particular country the currency originates from since these are the local conversion rates for Pocket Option.
Also, another essential point to be noted is that Pocket Option is an internationally registered financial body and does not fall under the jurisdiction of any singular government body. This means that all information about your transactions as well as your account balance is stored safely with the company. Hence, Pocket Option is not tax-deductible, nor does it provide taxation-related information to authorities, except when specifically asked to do so with the due process of law.
Withdrawals generally occur within 2-5 business days. If a withdrawal gets rejected or delayed, it will notify users about such an event, especially a delay, within 14 business days. You have the right to ask for an internal investigation if you do not receive your funds within 5 business days.
You can also cancel your withdrawal request, provided the cancellation request occurs within the two-business-day limit when there is a chance your request might have been already approved. The Pocket Option help desk is open for your queries and troubleshooting in the event of a technical glitch during electronic transfer or any other issues that might arise in the process of requesting a withdrawal.
Pocket Option provides several advanced methods for deposits, such as debit cards, an eWallet, Crypto, and even wire transfers. We shall discuss these features in detail later. Deposits are only available in USD, but you may use any currency for the same. Pocket Option’s local and international conversion rates will apply. Third-party payment services may have their own charges during deposits and any interconversions performed by them.
Even with large amounts of deposits, or large magnitudes of these deposits, one cannot bypass Anti-money laundering features used by Pocket Option. Only verified accounts are able to deposit, and this same verification may be suspended upon discovery of suspicious activity or use of Pocket Option as a platform for attempted illegal activities.
Minimum investment and also minimum deposit amounts are fixed at $1. However, you must note that usage of third-party payment services in certain countries has marginal fees, and thus deposits of $1 might have a more significant fee associated with it.
As mentioned earlier, Pocket Option offers a variety of convenient methods of deposits and withdrawals. These methods are:
· VISA or MasterCard
This method uses a verified pre-registered debit or credit card in any country. All balance credited to your account or purse will be in USD. Standard Pocket Option conversion rates will be automatically applied.
Certain E-wallet payment providers such as Skrill or Payoneer are accepted by Pocket Options as legitimate. It may require verification, depending on your geographical location.
· Wire Transfers
SEPA (Single Euro Payments Area) transfers and other international bank transfers are accepted by Pocket Option. It will require verification and is the preferred transfer method for people without E-wallet access in their country. In the case of deposits, an invoice is sent to you, which must be paid via your bank.
Bitcoin and Stellar are accepted by Pocket Option. Probably a surprise for most but a welcome one, Pocket Option accepts trusted cryptocurrencies for deposits. This has been a big point in gaining the favor of a largely crypto-based trading audience and can also be used as a platform for transforming trade profits to Crypto when the normal Pocket Option conversion rates apply.
Pocket Option publicly states and accepts the associated risks of trading in CFDs. It strives to educate people about the same. All traders and potential traders must be aware of these risks, which result in monetary losses.
Pocket Option has been a trusted trading platform for a greater part of four years now. It charges no deposit and no withdrawal fees, which makes it an extremely valuable trading platform for those looking to get into trading but do not have a very large capital, to begin with.
While trading on CFDs and Binary Options carries with them an inherent risk due to market volatility and the fast nature of trades, a diligent trader on an honest platform can really reap profits. In addition, Pocket Option gives you a demo account and a lucky few money to begin with, making it the ideal option for beginner traders and veterans.