Approved Payment Methods in Binary Options Trading
Before traders can invest in a binary options platform, one of the requirements is to deposit an amount that can fund investments. Since binary platforms operate on an international level, most brokers feature accessible payment methods that are practically accepted from almost everywhere, and have made the deposit and withdrawal processes quite easy. To learn more about the different methods of payment as you trade binary options, we have prepared a list that will make trading straightforward and simple.
Credit and Debit Cards
One of the most popular and preferred by nearly all traders, the use of credit and debit cards dominates the form of payment methods. Credit card transactions are generally instant and do not require the mandatory number of waiting days, unlike other forms of payment. The major brands that can fund your trade are Visa, MasterCard and American Express. There are also brokers that accept the less common brands such as Diners Club, CB, Carte Bleue, Dankort, CartaSi, Laser and Discover Card. It is important to note that with most credit cards, traders are not allowed to withdraw money more than the amount deposited in the trading account. Try to check this information first before making a deposit with the use of a credit or debit card.
Also known as e-wallets, electronic payments are also one of the best facilities serving as a channel to process payments for the binary options market. It is a third party payment processor that can be accessed online, and is a safe and secured way to transfer funds for traders residing in differing locations than that of their brokers. An advantage for using this service is the fee, usually in the range of 1%- it is fairly lower than some other types of deposits and withdrawal methods known. Electronic wallets are websites such as Liberty Reserve, Skrill / MoneyBookers, MoneyGram, CashU, Qiwi, Sofort, Giropay, Ukash, WebMoney, Moneta.ru, iDeal, POLi and EPS. Take not that deposits and withdrawals using an electronic payment is processed more rapidly than with the use of credit or debit cards.
One of the most common methods of choice for traders is using wire transfer. Usually, traders living in locations included in the financial blacklists use this as a ready solution to avoid IP restrictions. Keep in mind, though, that there is a charge for wire transfer withdrawals and should inquire about it before using this service. Also, the processing time usually takes longer and the capital requirement is much higher than other methods. However, this is a tradeoff for the security and confidence in transactions executed using wire transfers.
Use of PayPal
PayPal is a category in itself and is widely used by traders. Although one can be restricted to its geographical limitation, it is trusted by almost every broker. Keep in mind that it usually takes 5 business days to send money from your PayPal account to your bank account. This is relatively short, and the security it provides by confining your financial information within your PayPal account and not sharing it online, this is a method that can definitely work with your investment style.
One of the tried and tested, in terms of reliability and security, of the payment options is the use of a bank account. Although transactions take longer, the use of bank accounts is preferable for clients who are trading in high volumes. What is asked from traders is patience, allowing a minimum number of days to process payments. Money going in and out of your bank account is secured, without any worries or with no further hassles when cashing in checks or similar transactions.
Approved Payment Methods in Binary Options Trading,