Most preferable ways to deposit and withdraw assets from Malaysian IQ Option accounts
People have always been striving to increase their assets and get new instruments of income. Having first appeared in the 1970s, the Forex market had rapidly begun to become the most promising instrument for making investments, starting by gold rush among beginners. Professional and experienced traders multiply their capitals by tens but particular twists and turns exist in this industry, therefore, hurrying is equal to losing.
Working out the best way for you: how will you earn money?
Most beginner traders are interested in how this market may bring in money and what is the best recommendation that always works. In fact, all traders have their own way of trading. Specialists call the first few months the most trustworthy and naive time, which is also connected with inevitable losses. Someone may lose all their funds while others lose half their the initial deposit, etc.
Some brokers offer demo accounts and such options become perfect to start with. Losing virtual money is much better than wasting real assets. Besides, each market participant has to define his individual purpose. If you are selecting earning money as your main purpose, the wrong strategy leads to losses and then more losses. Over time, a trader understands that results are more important.
Professionalism is the key to success in every sphere and trading is not an exception. You should obtain profound knowledge concerning the functioning of the industry , follow financial and political news, test existing strategies and invent new ones. Constant progress brings success. That is a law that must be remembered by new entries. At the same time, selecting a particular jurisdiction becomes of much account as well. You are obliged to follow the laws of the country you live in to avoid any problems with the government.
Peculiarities of an account opening and trading in Malaysia
Malaysia hails this instrument of investments offering rather favorable conditions for brokers. Moreover, many companies have selected Malaysia for their headquarters after the new requirements the EU has adopted concerning the industry. A Malaysian license for brokerage can be easily obtained while the corporate law tax is only 3%.
Speaking of traders, they also are free to earn money using different platforms, both national and foreign ones. No limitations are introduced by the government. The only demand is that taxes on income according to the state norms must be paid. The minimal tax rate is just 1% for individuals who earn less than 20 000 MYR (Malaysian Ringgit) or $4800 annually while the maximal tax rate is 28% that is levied in case of the annual income of more than 1 000 000 Ringgit (over 240 000 USD). Those who earn less than 5 000 MYR ($1200) per year are tax-free.
The rate of inflation is rather low in the country therefore traders use the market for getting profits, not saving money.
Convenient conditions for traders: IQ Option platform review
Obtaining profound knowledge is just the first step to success. Most traders are looking for a reliable broker by comparing different indexes and conditions. IQ Option has managed to be among the top ones. Such a platform tends to be convenient for both new entries and professionals providing diverse functionality.
Advantages of IQ Option:
- This broker is the legal one that protects traders from all countries. Licenses of respected financial regulators empower the broker, providing a full complex of services.
- Traders get access to different markets. Apart from flat currencies, stocks and digital currencies can also be traded.
- IQ Option deposit and withdrawal is provided in the shortest terms. Numerous options are offered for clients.
- The platform is constantly developing, offering users the most innovative decisions for quick and effective trading.
- User-friendliness of the platform is also evident. New entries obtain educational instruments and a demo account, while professionals get a real trade room where the trading process is controlled by them.
How to make a deposit to Malaysian IQ Option accounts: available methods
After confirmation of registration, every trader gets a demo account a priori. IQ Option takes care of its users, therefore, you get 10 000 US dollars on your demo account and you are free to refill it as many times as you wish.
As for real trading, you need to deposit funds. You can do this via bank payment systems, e-wallets or wire transfers (applying to a Malaysian bank).
Using bank cards for depositing funds
Most people use their debit or credit cards in their everyday life, therefore, this IQ Option deposit method is the most appreciated. The algorithm of funds depositing is rather simple. Click on ‘Deposit’ in the upper right corner and then choose the ‘Top up your account’ option. A bank card is the first option offered for a client. VISA, Master Card and Maestro payment systems are available.
To complete the operation, a trader must insert basic information including your card number (only your cards are available to be used),expiry date, a card holder and the three numbers of CVC. Pick the currency and amount in the same window and then press ‘Continue’ to complete the operation. Usually, the transaction is performed instantly, but sometimes, the operation takes up to 3 business days. The minimal and maximal amount of a deposit is limited by $10 and 1 000 000 USD respectively.
Using e-wallets to transfer assets
Electronic wallets are the second most widespread method of depositing funds. The platform works with numerous systems but Skrill and Neteller are the most in-demand IQ Option deposit methods for traders. These systems provide the best conditions. Moreover, such e-wallets are widely used by the Malaysian traders because there are no restrictions by the government.
To use such deposit options, you must perform the same actions (click ‘Deposit’ and select funds to be deposited to a real account). Then pick the preferable e-wallet, indicate the currency and amount, and press ‘Continue’. You will be redirected to the webpage of the chosen electronic payment system where the transfer should be completed. Funds are expected to be sent instantly.
Wire transfer from Malaysian banks
Funds can be deposited through bank transfer. The platform works with several Malaysian banks including the following ones: Bank Negara Malaysia, Bangkok bank, CIMB bank, etc. In order to understand whether a particular bank is supported by the platform, calling the customer support service is highly recommended.
When depositing funds, there exist some limitations. For instance, in USD, the minimal deposit amount is $15 while maximal one is limited by 12 000 US dollars. When depositing funds in Malaysian Ringgit, minimal and maximal limits are 50 and 50 000 consequently. The time taken depends on each particular bank.
How to withdraw assets from IQ Option real account?
Money can be withdrawn from real accounts only. Training ones do not include such an option. Moreover, IQ Option withdrawal Malaysia is only accessible after verification that includes sending scans of your ID and (if necessary) a picture of your bank card to the indicated email address.
According to the general rules, traders cannot withdraw less than 2 USD but for some cases the exception can be made (you will need to contact customer support service concerning this issue). A trader may transfer 1 000 000 USD (or equivalents in other currencies) from his account per day over as many transactions as desired
Funds withdrawal should be provided by the same method you have previously deposited assets. For instance, when transferring 700 USD from your credit card, traders are obliged to withdraw money to the same card.
Withdrawing to bank cards: general requireents
IQ Option implies a particular hierarchy of withdrawal methods, and transfers to bank payments systems are the top of that hierarchy. Moreover, an IQ Option withdrawal limit exists for such a method.
The amount of withdrawing funds cannot exceed the amount of your deposit. For instance, if you send 1500 USD to your account and then want to withdraw $4000, you must withdraw $1 500 to your bank card and the rest of the assets with other methods.
No fees are imposed while the processing time of the operation may take up to 3 business days.
Using this option is rather simple. Pick the desired bank card in the withdrawal menu and insert the necessary information into the fields.The IQ Option withdrawal proof is simple as well because the system checks whether a trader uses his card or not. In the second case, the operation is banned.
Withdrawing to e-wallets: recommendations for Malaysian traders
As it has been mentioned, Neteller and Skrill are two systems that experience widespread among Malaysians. When using Neteller, citizens and foreign residents face some difficulties. For instance, the system deals with particular banks while Skrill is more affordable. Users of Skrill are able to withdraw their funds to any Malaysian bank account. A fee of $5.8 is imposed.
The platform itself charges no fees for assets withdrawal to e-wallets. The processing time is up to 3 business days. In order to use this method, select Neteller or Skrill in the withdrawal menu and then you will be redirected to the webpage of those systems where the transaction can be completed.
Withdrawing assets to bank accounts directly
Wire transfers allow sending your assets directly to your account. Such a payment method is less in demand due to the extended processing time and additional fees.
IQ Option withdrawal bank transfer can be directed to the same banks that have been used for deposits. Traders are also highly recommended to call support service to get information on which Malaysian banks are available for wire transfers.
Problems concerning assets withdrawal
Upon picking the most appropriate way of assets transfer and confirming the operation, the request is registered by the system.
A user may follow its status in ‘Withdrawal requests’ list. ‘Funds sent’ means that assets were sent to your account. When money has not been received or the status has not been turned into ‘Funds sent’, all IQ Option withdrawal problems should be solved by customer support. Traders are recommended to call specialists as soon as possible and describe their situation in detail.