Thinking of opening an account with Cedar Finance?
Heard rumors about difficulties in withdrawing funds from this binary options broker?
Learn what is the fine print that governs Cedar Finance clients’ ability to withdraw money from their account, protect your investment and avoid unnecessary mistakes.
Problems with withdrawals
Many clients complain about difficulties in receiving their money, once they request this simple task from Cedar Finance. The best way to avoid such trouble is by simpling reading our scam article and choosing a more reliable binary options broker. Nonetheless, it is important for any trader to understand the details involving an online withdrawal.
Remember to always carefully read the Terms and Conditions page of a binary broker’s site, because often you will discover some amazing clauses there. If all that legal wording is too much for you, then we break down the most important points about the withdrawal process.
The cost of a withdrawal
Cedar Finance will charge you a 25 dollar fee for withdrawing any amount under 500. This is not a scam and there is no wrongdoing here, since an international bank transfer will often cost even more.
The time it takes for Cedar Finance to send you the monies, though, is highly questionable. The site states that reviewing the withdrawal process will take up to three days, and the actual transfer up to seven days, which would make ten in total.
Asking for your money and getting it within ten days is surely not a show of high quality customer service, but it is reasonable, and if this would actually happen one would probably not hear many complaints. But the fact that the withdrawal issue is repeatedly mentioned in forums and social networks, indicates something is wrong.
How to get money back from Cedar Finance
The real question you must ask yourself is what is the intent of the binary options broker you are working with. Since binary trading involves high risk and demands your concentration, you do not want to be distracted dealing with getting back your money.
Serious and professional binary options corporations, such as EZTrader or OptionBit, will help you improve your trading skills and investment techniques, and offer you tranquility while trading by giving you an impeccable customer service. The reason for the difference between such brokers and Cedar Finance is the willingness to see the trade as a business partner.
If you made the mistake of opening an account with Cedar Finance and are now having difficulties getting the money, the best way to get your money back is be extremely persistent. The strategy of delaying withdrawals in the binary options field does not have the purpose of keeping the money and simply stealing it. The goal is to convince the customer to continue trading with the hope that he or she loses the funds eventually by making wrong predictions.
Other Withdrawal Issues
Most binary options companies demand some form of identification before performing a transfer to the client, so be patient if you are asked to provide documentation, which you definitely will if you are still a Cedar Finance client.
Also remember that Cedar Finance bonuses are a means of blocking your ability to request withdrawals, therefore refuse bonuses. If you already received a bonus and are now having difficulties getting your money, firstly, remember to make a smart choice next time.
Binary options can be a good source of income and a positive experience. Thousands of traders worldwide enjoy online trading and achieve some level of success.If you learn certain trading methods, gain experience and invest wisely, the high yields and profits available in this market can be part of your reality.
Second, from what ex-customers say, the best way to get your money back if Cedar Finance refuses to send it to you because of the bonus, is again too be very resolute. In most cases, once the broker understands this will cause major headaches, the policy is to return the monies. Sad, but in most cases, this has apparently proven to be true.
Cedar Finance Withdrawal – Summary
There is no scam per-se, since Cedar Finance does not intend to run away with your funds. Nonetheless, there sometimes seems to be an intentional delay in withdrawal processing, probably with the hope that the permanence of the client in the trading platform will eventually lead to the loss of his or her investment.
The best way to avoid this issues is by simply choosing a trustworthy and reliable binary options broker, preferable one with proper regulamentation.