IQ Option allows you to trade on a demo account immediately after registration. Demo trading is mainly for training purposes and aims to familiarize the user with the platform's functionalities. The disadvantage of the demo is that you are trading with fictitious money, the profits from which are also only virtual. If you are already ready for a real struggle with the market, you need to make an IQ Option deposit.
There are many ways to make a deposit with IQ Option, some are country-specific. Today we will discuss the ways to fund your account that will allow you to invest with real money.
Contents
Overview of the basic interface for making IQ Option deposits
Accessing deposit page at IQ Option
How do I deposit money into IQ options?
To get to the IQ Option deposit page press the deposit button in the upper right corner of the main website page or do so directly in the IQ Option trade room, if you're already there.
The minimum deposit amount at IQ Option is ten US dollars, pounds sterling or euros. If your bank account is in a different currency the funds will be converted automatically. You may enter a deposit amount manually or select one from the list.
Making an IQ Option deposit with a credit card
There are several ways to deposit funds into your account. You can make deposits via any debit and credit card if it is a Visa, MasterCard or Maestro card except for electron.
The card must be valid and registered in your name and support international online transactions. Select the Visa/MasterCard payment method, and click ‘go to payment'.
You will be redirected to a new page where you will be requested to enter your card number, cardholder name and CVV. CVV stands for card verification value.
It's a three digit number that is used as a security element during online transactions. It is written on the signature line on the backside of your card. To complete the transaction press the ‘pay' button.
3D secure code
On a new page that opens enter the 3D secure code a one-time password generator to your mobile phone that confirms the security of the online transaction.
To activate this function, please contact your bank. If your transaction has been completely successful a confirmation window will appear and your funds will be credited to your account instantly.
Linking and unlinking card to IQ Option account
When making a deposit your bank card gets linked to your account by default. Next time you make a deposit to your IQ Option account you won't have to enter your data again.
You will only need to choose the necessary card from the list. You can unlink your card by clicking ‘Link card', next to payment method on the deposit page.
IQ Option deposits and withdrawals for IQ Option traders from the Republic of South Africa
The IQ Option platform is available from South Africa from 2013. One of the important things is how to deposit and withdraw your money. There are a few methods of payment such as debit or credit card, e-wallet or bank wire transfer. Today we will describe the process of transferring money with a Local Bank.
Note: In some countries, depending on your location and the regulations in your location. you will be required to send some additional documents to the broker for verification purposes. It may be a copy of your ID card or a proof of address.
Depositing money on IQ Option with a local bank
The first thing you must do is to log in to your IQ Option account. On the right side of the trading interface, you will find a green Deposit button. Click on it and you will be redirected to the next step – the IQ Option deposit page.
Here, you have to determine what amount of money you wish to deposit. Then, select a local bank from the list that will be displayed on the right side. Some of the banks that are supported by IQ Option are ABSA, FNB, Nedbank, Capitec, Standard or Investec.
Now, click the green Go to payment button. It will take you to your bank's page where you will need to fill some data such as your User number or Access Account Number. Once you finish this, the OTP code will be sent to your mobile phone. You should write it in the corresponding field and wait for the confirmation of successful payment.
A minimum deposit amount is just $10. You may also deposit in your national currency and the sum will be converted automatically.
You will not have to pay any fee in respect of making an IQ Option deposit.
The money should be on your trading account within 1 business day.
Withdrawing money with a local bank
The procedure for withdrawing money is very simple. You just have to choose your preferred local bank, write the amount of money you would like to withdraw, your name and the account number. After that, click the Withdraw funds button.
You will then see a confirmation that the transaction went well.
Withdrawing money is possible via cards and wallets. you will be getting a 1-time per month free withdrawal to do this. the second time will be subject to a 2% withdrawal fee starting from the 2nd withdrawal per month.
Furthermore, make sure that you have checked whether there are some fees that are not dependent on IQ Option. They may be applied to the transactions by the payment method or service.
The card and currency in which you withdraw your money should be the same that you have used while depositing funds.
The limit of the withdrawals to the card is equal to the total deposits that have been made within 90 days. The rest of the money you will be able to withdraw to any wallet that is available on IQ Option. However, if the time since your last IQ Option deposit is longer than 90 days, you can freely transfer the whole sum from your trading account to your bank card.
Additional facilitations
PayGuru
PayGuru is a company with a license that has built a mobile payment app. It provides easy and fast deposit & withdraw services. This is why so many IQ Option users in South Africa make money transfers via PayGuru.
To benefit from the innovative payment services that PayGuru provides, you should register on their site. You will have to create an account, fill in the requested information and upload the required documents. After you confirm your contract with PayGuru you are ready to start using their services.
AstroPay
Another way you can utilise for depositing and withdrawing funds from the IQ Option trading account in South Africa is AstroPay Card. It is a virtual card that is approved by many businesses in the online world. You get easy access to it from your mobile phone. The payments are processed fast and the security standards are high.
You will have to register on the website or through the mobile app. There is no registration fee. You will be asked to choose the value and currency for the AstroPay Card as well as the payment method. After you pay in your local currency you will receive an e-mail with all the necessary information about your AstroPay Card.
Does IQ Option accept crypto deposits?
We have recently written about the new crypto options available on the IQ Option platform. Cryptocurrencies continue to enjoy growing interest. Today, we will look at the options for depositing and withdrawing Bitcoin into your IQ Option account.
Can IQ Option deposit be done with crypto?
IQ Option offers multiple methods of depositing funds. Accounts are held in FIAT currencies. Many people, therefore, wonder if it is possible to deposit funds using cryptocurrencies. The short answer is YES. IQ Option accepts deposits in cryptocurrencies. At the moment it is possible to deposit using BTC. Other cryptocurrencies are not supported.
You don't see BTC as an option for depositing funds on IQ Option?
If when you enter the IQ Option deposit section, you do not see an option to deposit bitcoin, this could mean 2 things:
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BTC deposits are only available for those who have made the deposit using a different channel before BTC deposits are currently unavailable. Such situations are rare. Then you simply have to wait and try again in some time.
- The option to select BTC as a deposit method is not available for those who have never made a deposit. This is due to a simple fact. IQ Option usually withdraws funds using the same channels by which the money was received. Withdrawals are made in fiat money, hence IQ Option needs to have a channel to withdraw the funds.
How to deposit funds in IQ Option using BTC?
To fund your account using BTC as a payment method, please follow the steps below:
- Once on the IQ Option deposit page, select BTC as the payment method.
- Enter the amount you wish to fund your account.
- Then click on Proceed to Payment.
- Enter the address of your BTC wallet. This address can be used in the future to send you BTC if something goes wrong with your deposit.
- Click Proceed to Payment.
- You will see information about the BTC address to which you have to send the bitcoin. It will also tell you exactly how much BTC you have to send to fund your account with the amount you specified earlier.
- Open your BTC wallet and send the appropriate amount of bitcoin to the address provided by IQ Option.
- Please remember to check everything carefully before sending funds. Check the wallet address that you provide at the beginning. When sending funds make sure that you send them to the address provided by IQ Option.
Is it possible to withdraw BTC from the IQ Option account?
At the moment, withdrawals from IQ Option are only possible using fiat money. Funds deposited in BTC are immediately converted by the system into regular currency. Therefore, withdrawals in BTC, ETH, LTC or other cryptocurrencies are not possible.
This fact alone is also the reason why, in order to deposit funds in BTC, you need to make a deposit in regular currency first. As I mentioned, IQ Option deposit must have a route for withdrawing funds.
Which payment method is best for IQ Option?
There is no simple single answer to this question. From the point of view of ease, it seems that the easiest way to make an IQ Option deposit is to use a Visa or Mastercard. These are the 2 most common bank and credit card providers in the world. So there is a good chance that you are a holder of one of them.
The other options depend largely on which payment solutions you use on a daily basis. Some of the options are country-specific, so depending on where you live, you can find the right method for you to make IQ Option deposits.
Depositing and withdrawing money on IQ Option with your local bank is not a complicated process. Remember, that your account should be verified beforehand. Also, the withdrawal method should be the same as the one used for depositing money.
Have a pleasant trading experience.