How to Get Your Binary Options Withdrawal: Pocket Option

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Alright guys, welcome back, welcome back. Today’s video we’re gonna be talking about withdrawals, the psychology behind withdrawals, and we’re gonna talk about some tips on how to get your withdrawals processed as easily and as quickly as possible. My name is David with Binary Masterclass, and welcome back to the channel.

Alright, so on the topic of withdrawals. After all, we’re trading binary options and taking money, taking out our profits from the broker is the reason why we are doing this entire thing to begin with. So, we get a lot of questions around, how much should I withdraw? How often should I withdraw? When should I take my first withdrawal? You know, what format should I take my withdrawal in? Okay, so the first question we get in regards to withdrawals is, when should I take my first withdrawal from my binary options trading? And here’s what I like to tell people. Whatever amount of money you start with, once you double that amount of money, I generally recommend to people that they take their initial $500 off of the table so that they are only now trading with the house’s money. As quickly as you can get your own funds out of the equation, the more it will free you up psychologically to trade in a fashion that makes you not feel like you’re losing your own money because, at that point, you’re not. You’re trading with the house’s money and you’re just trading with your profits.

Okay, so another question that we often get is, how often should I take withdrawals? This is another great question. I generally recommend to our community that they take weekly withdrawals, and maybe a withdrawal every Friday. Assuming they had a profitable week, I generally encourage them to take maybe even up to 50% of their profits off of the table for that week. I want people to get in the habit, and I think it’s good to get in the habit of regularly paying yourself so that you see the value of what you’re doing. Some people are getting up early to trade, some people are taking time out to do other things. However you’re doing, it’s a commitment, you’re putting effort in, there’s some stress involved, there’s some life it takes out of you, you need to be seeing the reward of what you’re doing. So weekly is often a good way to see that. Maybe Fridays after your trading session on Friday, take a withdrawal of a certain percentage of your profits. Every week, every other week is something I like to see people do.

Okay so after taking my first withdrawal of my initial investment, how large should my subsequent withdrawals be? I like to tell people in our community or recommend that they consider taking maybe half or 50% of their weekly profits off of the table. I typically want to see them leaving some in so their account grows. So if they’re trading with a certain percentage, that percentage is gonna grow and compound weekly and their account will grow, therefore their profits will grow, therefore their withdrawals will grow. If you’re taking all of your withdrawals off the table initially, your account isn’t gonna grow and you’re not gonna be able to increase the amount of money that you’re making on a weekly basis. So I think a good win-win is taking 50% of your weekly profits off of the table.

Okay, now what format is best to take withdrawals? So I think it’s best to take your withdrawals in some form of cryptocurrency. Some people try to have it deposited directly to their bank, but there can be delays in bank processing and other external factors come into play that I like to take out of the equation. I think for me, the use of Bitcoin is the easiest way to transfer money in and out of the broker. Once the broker releases the deposit, typically that Bitcoin will clear the blockchain in just less than an hour, and you should have it confirmed in your wallet within an hour of it being released by the broker. So cryptocurrency is the way I like to recommend people take withdrawals and Bitcoin is the way that I personally take withdrawals and make deposits if necessary.

But remember, at the end of the day you are doing this so that you can take withdrawals, so that you can make money, so that you can have access to the funds that you’re trading. I don’t consider any of the money in my trading account my own funds until I’ve taken a withdrawal and it’s successfully hit my crypto wallet. As far as I’m concerned, the money that’s in the broker, whatever number is on that screen, those are not real funds until they’ve released them to me. Now, I’ve never had an issue getting my withdrawal, but these brokers are not like insured bank accounts. Just because you have $50,000 in your trading account doesn’t mean you have $50,000. You first have to get that money from the broker to your own wallet and then you can consider it money in hand.

Alright now as promised I’d like to give you some tips that will help you get your withdrawal process as easily and as quickly as possible. Number one, the verification process. Now this frustrates a lot of people because they don’t understand why the brokers need to verify their identity. So these brokers, although they’re not regulated in a typical sense, they are still required to go by the KYC or know-your-customer regulations to prevent money laundering. So in order to do that they’re gonna verify your identity with a number one photo identification. Most often it will be a government photo ID like a passport or a driver’s license if you have one. Number two they’re generally gonna want a utility bill that matches your name to the address that you have on file. Now we did have a client recently who was able to get their identity verified with a utility bill. They did not have an address matching the address that they have on their identification. So interesting, I don’t know that that will always happen, but it has happened recently. And thirdly, they’re gonna generally at some point ask you for a selfie verification. This is where you’ve got to take a picture of yourself holding your ID and it’s got on a paper that says Pocket Option and today’s date and your signature and we can run through and help you with all of that but their instructions are pretty specific and you do have to follow those instructions to the T in order to get through that step of the verification. Tip number two, smaller withdrawals get through quicker than bigger ones. Now generally withdrawals under let’s say $1,000 will get processed sometimes within minutes, typically within the first 24 hours. If you’re taking larger withdrawals, like I’m often doing, you will generally have to wait up to their three-day quoted business turn time in order to get your withdrawal processed. Rarely have I ever had a withdrawal take longer than three days. If your withdrawal does take longer than three business days, feel free to create a support tab in the support section of the website and remind them that it’s been longer than three business days since you’ve requested your withdrawal. And that generally will prompt them to initiate the withdrawal pretty quickly. I would advise against trying to withdraw all of your trading funds at one time, especially if you’re dealing with a larger account, let’s say $5,000 or more. It’s gonna be probably easier for you and you’ll get them quicker if you request your money in chunks. Let’s say 30%, 30%, and then the remaining balance. If you try to request it all up front they may take longer to process the withdrawal requests. Tip number four, make sure that you’re using the correct address for whatever currency that it is that you are looking to withdraw in. For example, if you’re trying to withdraw in Bitcoin, do not accidentally copy an address for let’s say Litecoin in your crypto wallet. That’s only gonna delay things as that address is not gonna match and they’re gonna have trouble sending out that withdrawal. So make sure the address that you’re having your money sent to matches the type of withdrawal that you’re requesting.

And number five, don’t be disrespectful in the way that you communicate with the broker. Many people don’t know that in their terms of service, they actually have a clause that says they can cease communication with you or terminate your account with them if you’re being rude in the way that you communicate. So I know it sounds funny, but just be respectful in the way that you communicate. And as always, guys, we would love to invite you to trade live with us, Binary Options, every day in one of our three live trading room sessions. Guys, we’ve raised up many, many people who are now successfully trading Binary Options profitably on a daily basis and we would like to add you into that mix. If you would like to learn to trade binary options we have a special offer for you right now. We would like to give you one and a half months free trading with us in the trading room simply by opening up a new Pocket Option account under our affiliate link and of course making your first time deposit and when you do that we’re gonna give you six weeks or one and a half months free membership with Binary Masterclass to trade with us live in our trading room. That’ll give you time to learn our strategy, learn our money management, and get yourself profitable and winning with us on a daily basis. And we will see you in the trading room.