IQ Option brokerage belongs to the category of binary brokers who offers trading services on South African market. IQ Option South Africa is present on the financial market from 2013 and allows residents of the country to deposit and withdraw money using their local banks, making money transfers with the broker easier for South Africans. Read more below to find out about the IQ option withdrawal and deposit via South African banks.
Before any transactions are made, to guarantee traders’ identity, several documents have to be submitted to this broker, such as proof of address and copy of the photo ID card.
An important note to all binary traders in South Africa is that chosen currency selected when depositing has to remain the same when withdrawing funds and that they should be aware of SARS and binary trading tax South Africa.
IQ Option Minimum Deposit in South Africa
IQ Option review South Africa has shown that this broker tries to ensure a safe trading experience for all traders who join and use the trading instruments and services on their platform.
The minimum deposit with IQ Option is just $10, which is a very attractive amount for traders. You may deposit in your national currency – South African Rands and the funds will be converted to the currency of your account automatically. There are no fees for deposits on the platform whatsoever but be advised that currency conversion fees might apply.
It is possible to choose among debit/credit cards, bank wire transfer and alternative methods as e-wallets.
IQ option deposit in South Africa:
- Click on the deposit button
- Choose the amount and the local bank of your choice
- Press Go to payment, this opens your bank’s payment website
- Log in into your bank’s payment website
- You will receive an OTP code on your phone, you have to enter it in the website
- When it’s processed by the system you will receive the message your deposit was
Some of the South African banks that IQ Option Supports are:
Traders can also deposit through several payment methods, including debit/credit cards, bank wire and e-wallet providers (Neteller card South Africa, QIWI, WebMoney South Africa, Fasapay and Boleto).
The payout time is estimated at 1 business days for the money to be on traders’ account.
Thanks to the many local payment options, all traders that are interested in binary options trading can have a quick start with IQ Option.
IQ PayGuru South Africa
With PayGuru being a popular payment gateway for binary options brokers in South Africa, it is no wonder that IQ Option withdrawal & deposit are processed via PayGuru as well.
PayGuru accepts card processing and enables instant EFT payments in ZAR which speeds up the process of deposit and withdrawal for binary options traders in South Africa.
PayGuru TPAY Acquisition Milestone
Payguru stems from a 2002 startup in the Media and Telecom industry, but not before 2015, will it boom. The company was acquired by TPAY, and the new management and shifted focus on building a forefront mobile payment app. Payguru corporate mission was to fully comply with the BRSA regulations and not much later, their mission was achieved. PayGuru is the first company in the mobile payment apps industry with this operating license. Being a such an estimeed and trustworthy broker themselves, with whom else would IQ Option partner up then with a regulated and licensed mobile payment app such as IQ PayGuru.
PayGuru did not stop there. Having acquired its operating license, and after the first integrations with mobile operators, PayGuru expanded its services to Cash and Bank Transfers, integrating with several leading banks. This business decision imposed what was only natural at this point – to acquire a much wider license, under the Laws regulating national Payments Services and Electronic Money Institutions. Subsequently, as of 2020, all PayGuru’s services are fully compliant and under supervision of the Central Bank of Turkey.
PayGuru’s services are fully in line with the current payment providers and payment solutions trends. The company recognized the growing need for digital and mobile technologies in the payments services industry. They make it their mission to offer state-of-the-art, advanced and innovative digital and mobile payments services, making this financial aspect more appealing, much easier and faster. It is every IQ Option trader’s dream to be able to use a payment method that is able to meet their needs for a swift deposit and even faster withdrawal and by a licensed payment services provider such as PayGuru.
PayGuru Register – PayGuru Signup in just 4 Steps
Regardless if you are still in the process of deciding on becoming a part of the renowned IQ Option traders community, thus already enjoying the joint power of IQ PayGuru South Africa, you can use the PayGuru Register form to simply and easily become a PayGuru Member. If you wish to use all the benefits of PayGuru innovative payment services, click on the PayGuru Register button and start your PayGuru Signup process. Here are the only 4 steps you need to complete:
- Create your account
- Complete your information
- Upload the necessary documents
- Confirm the contract and start using PayGuru payment services.
After completing PayGuru Signup, your account will be created and ready to be used. You can use the PayGuru Mobile payments app or if preferred, you can opt for PayGuru Cash Payment and Bank Transfer services.
Either one of these great products can be used to deposit to or withdraw from IQ Option, with IQ PayGuru integrated payments services.
IQ Option Astropay South Africa
AstroPay Card is a virtual prepaid card that can be used to make deposits and withdrawals online. It is accepted by numerous online businesses around the world and is one of the leading payment choices due to instant payment processing, data confidentiality, and high payment processing security standards.
Astropay cards are fully manageable from your mobile phone and can be quickly accessed whenever you need it. It does not take much to conclude why IQ Option Astropay Card found itself high on the withdrawals and deposit methods.
IQ Option AstroPay Card
IQ Option Astropay Card South Africa was added on the list of available payment methods for South African traders. You can now use AstroPay Card South Africa to deposit to and withdraw from your IQ Option trading account.
How to get your AstroPay Card South Africa
- register for free online or in the mobile app
- select the value and currency of your AstroPay Card
- choose the local payment method and pay in local currency
- receive an email with the AstroPay Card information.
How to make IQ Option Deposit AstroPay
Just as easy it is to deposit using any other bank card, you can choose to make IQ Option Deposit using AstroPay. All it takes is to:
- login to your IQ Option account
- click on the deposit button and choose AstroPay on the IQ Option Deposit methods lists
- follow the instructions on your screen
When it comes to IQ Option Deposit Astropay, there are no limits to take into account. If you decide to withdraw to AstroPay, please note that AstroPay cards do not receive refunds. If you made your IQ Option deposit Astropay, note that you will need to withdraw to your preferred wallet or request a bank transfer withdrawal instead.
IQ Option Withdrawal in South Africa
If you need to know more about how IQ Option Withdrawal in South Africa works, we are happy to assume you already opened a trading account, have traded already and more importantly – have been successful at it. Withdrawals are possible only if you have a positive balance on your trading account, or said in simple words – your trades have been successful. Just as everything else with this renowned broker – IQ Option Withdrawal in South Africa is designed and thought out in a way that leaves very little room for confusion or questions. It is hard to imagine a simpler withdrawal process than IQ Option Withdrawal in South Africa, which requires you to be signed in to your trading account and needs only the following 4 mouse clicks:
- Click on the withdraw button
- Select your bank
- Enter the information (Amount, Your name and the Account number)
- Click “withdraw” funds
Should you be in a position to request an IQ Option Withdrawal, you should make sure that your trading account is fully verified first, as only such account is eligible for the IQ Option Withdrawal.
Depending on the IQ Option Withdrawal method of your choice, the system will display further instructions, which may differ from one payment method to the next. Mostly, the only difference is the payment authorization, ranging from receiving an OTP or confirming the payment via an in-app link provided by your payments services provider or e-wallet, perhaps even receiving an identification voice call, or some other means of verifying the withdrawal you have requested.
IQ Option Withdrawal Fees
IQ Option Withdrawal South Africa is possible via all payment methods except the bank transfers, which are not available to South African traders as of yet. Even though it may look a bit discouraging at first glance, it is far from it. Having your withdrawals limited to cards and wallets only, means that your IQ Option Withdrawal Fees are insignificant. For all your withdrawals to cards and wallets, there is one withdrawal per month completely free, whereas for each subsequent withdrawal you will be charged IQ Option Withdrawal Fees of only 2% of the amount withdrawn, but not less than $1 and not more than $30. Having said that, please note that there still may be other fees applied to your transactions by the payment method or payment service (cards & wallets) of your choice, that IQ Option has no power over.
IQ Option Withdrawal Limit
There are certain limitations to IQ Option Withdrawal. It can be summed up as IQ Option Withdrawal Limit related to the preferred payment method and IQ Option Withdrawal Limit to the number of transactions in a certain timeframe. Of course, traders GEO location or place of residence can also be listed as an IQ Option Withdrawal limit of its own kind, as not all of the payment methods are available for all countries of the world, meaning, the list of payment methods you can use for the withdrawal will be narrowed down to only those payment methods that are licensed to process payments of traders with South African residence. This is in most cases is entirely beyond IQ Option’s control as it related to the company policy and regulatory status of each payments services provider. Given that IQ Option Withdrawal can be processed in different currencies, the withdrawal currency of your choice may also be a limitation on its own.
Bank Card IQ Option Withdrawal Limit
Despite the growing popularity of wallets and digital payment processing apps, bank cards are still the most preferred IQ Option Withdrawal payment method to date. It does, however, come with these two limitations:
- the trader has to use the same card that he previously utilized to deposit to his account and
- due to technical reasons, the amount of money withdrawn to the card cannot exceed the total deposits made during the last 90 days.
Wallets IQ Option Withdrawal Limit
The many of the available wallets you can use for the IQ Option Withdrawal, offer payments processing in dozens of currencies of the worlds. As mentioned already, your list of wallets, and the list of currencies that you are eligible to request your withdrawal in, are a matrix that is predefined by the fact that you reside in South Africa. Also, note that this matrix is part of the independent company policy and regulatory status of each wallet, and as said before, usually is out of reach of IQ Option.
IQ Option Withdrawal Limit is different per each of the available wallets, but the common denominator is
- the minimum withdrawal amount set
- the maximum withdrawal amount set
- a limited number of transactions in a certain timeframe
Make sure that you check the above limitations of each available wallet, so you can choose the best one for fast and easy payment processing. The withdrawal limits should not be a defining factor, but a wrong choice of a payment method, from the applicable payment method limits, can be a reason behind disappointing withdrawal experience and payout results.
How to optimize your IQ Option Withdrawal
We already mentioned how withdrawals depend on the deposit method you used. Meaning, if you deposited with a bank card, you will need to withdraw to a bank card and that bank card only. Also, we mentioned that bank card IQ Option Withdrawal has a limit of deposit amount in the last 90 days, meaning that you can only withdraw the amounts that equals to the sum of your deposits in the ninety-days window. So what happens to the rest of your money? The rest of the funds that exceed the sum of your total deposit in the last 90 days you can instantly withdraw to any of the available wallets, meaning you can and should combine bank cards and wallets to optimize your IQ Option Withdrawal.
Of course, you can withdraw the full available balance from your trading account to the designated bank card, if it has been more than 90 days since the last deposit.
In case your deposit was made from a wallet, to begin with, you can withdraw all the funds back to the same wallet straight away. The minimum withdrawal amount is 2 USD. IQ Option Withdrawal to your designated wallet usually takes up to 3 business days to credit your wallet.
This IQ Option withdrawal & deposit guide will definitely help traders to figure out is IQ Option legit solution for their trading career.
Is IQ Option Legit in South Africa?
Traders get scammed by brokers often, so it is not uncommon to wonder whether one of the most popular brokers worldwide. Unlike many, IQ Option is one of the best and most professional brokers for traders in South Africa. IQ Option operates in more than 150 countries and has more than 100 million registered users all over the world. IQ Option takes its good standing very seriously, which is an immediate sign of a trustworthy and legit broker that prioritizes the safety of its traders. Scam brokers prefer to disguise their information, have misleading and unclear corporate policies, tend to hide any contacts or references in the digital world. With IQ Option, you can expect full data protection principles and top banking services.
When you are trading, transparency is key to a company being considered legitimate, safe and trustworthy. IQ Option makes sure its business model, compliance, and terms and conditions are clear and available for anyone to read. All relevant information is organized and divided into the following categories:
- Terms and Conditions
- Risk Disclosure
- Payment Policy
- Anti-Money Laundering and Know Your Customer policy
- Complaints Policy
- Iq option practice account
IQ Option Terms and Conditions – every trader’s must-read
Commonly, South African traders deposit first and then read the Terms and Conditions, if they even read them at all. IQ Option encourages South African traders to first gather all the necessary information prior to investing their money. Terms and Conditions contain all relevant Company information that operates this brokerage and its trading platform. Also, it clarifies all the commonly used terms, that are of importance to all aspects of the trading relationship. Have in mind that opening an account with every broker, including Iqoption, in reality, creates a business relationship, which is defined and regulated by an agreement. This agreement is outlined in the Terms and Conditions so that South African traders can find valuable information regarding binary options trading, different policies and the risks it may entail even before opening an account, thus entering into a business relationship with IQ Option. IQ Option Terms and Conditions, aside for its legal repercussions, are a valuable set of rules and information on the nature of your future relationship with your broker.
IQ Option Risk Policy
Though it seems like a handful or much “too legal” to read, every IQ Option trader should take a read into their Risk Disclosure. As we already mentioned, trading binary options entails risk. To be precise, trading on financial markets of any kind entails risks. To learn what sort of risks you are willing to take by registering an IQ Option account and placing your trades on their trading platform, make sure to at least browse through IQ Option Risk Disclaimer. This document will give you a broader picture of the risky nature of binary options trading. Contradictory as it may sound, all this adds up to considering IQ Option safe.
Given the nature of your business relationship with IQoption, data exchange is expected and perfectly in place. You will be asked to interact with IQ Option, and so will your device. Some of your communication is obligatory, some is optional and some of the data exchanged is there for the purpose of optimizing your trading experience with IQoption.
IQ Option Payments Policy
Next in line of the valuable documents is the IQ Option Payments Policy – a document that contains provisions on the most desired aspects of binary trading – the payouts. Payouts mean profits, or very simple – you traded well and there is a positive balance on your trading account that you can withdraw. All your questions regarding how to deposit, what is the procedure, what payment methods are allowed, how withdrawal works, how long it takes, what fees are applied – all and much much more are detailed in the Payment Policy document. If there is anything that you might have doubts about or are not sure if you understand properly, make sure to contact IQ Option Customer support for a swift helping hand. They are glad to help you grasp all the information, regardless if you are already a client or not.
IQ Option Complaints Policy
Along with other corporate policies and taking into account that there is not going to be only successful traders, Iqoption designated a part of their corporate structure to deal with incoming complaints and traders’ grievances. Every received complaint is handled with the utmost care, attention, and full discretion. You can submit all your complaints, free of any charge by email to [email protected]. IQ Option Compliance Team will examine all the facts and conduct a thorough investigation, resulting in a mandatory conclusion. Check their full Complaints Policy on details on the Complaints Form and the filling the complaint procedure.
General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose