Binary trading has become a very popular and widespread method of online trading over the last decade. Since it became a separate trading market, dozens of trading platforms with a wide range of offers and benefits have appeared online. With such a great choice, choosing a binary broker and a trading platform may be a demanding task, especially if you are new to binary trading. You need to pay attention to many segments of the platform so you can be sure that it is not a scam. You can read more about it on https://en.wikipedia.org/wiki/Binary_option. The broker needs to have valid licenses, offer appropriate bonuses and conditions for using them and have decent payout and return rates. They should also offer a sufficient number of assets for trading and a few different types of binary options.
One of the important indicators that the binary broker is legit is their deposit and withdrawal policy. It should always be clearly stated in Terms and Conditions section on the broker’s website, and if you decide to register with a broker, you should always read this section thoroughly. This includes the maximum amount of time for withdrawal, as well as the possible deposit/withdrawal methods. Most binary options brokers offer deposits through credit or debit card, but they should also include other methods. Sometimes wire transfer is possible, and since all the trading is done online, third-party money services like PayPal, Skrill, Neteller and others should also be one of the options for deposit and withdrawal. Regardless of your preferred payment method, you should always be able to easily deposit the money on your binary broker’s account and withdraw the earnings without constraints.
Depositing by credit or debit card is the most common and the most accepted method of payment and it is also very easy. If you use a widely accepted card type such as Mastercard or Visa, there should be no problems when you want to place funds onto your account. If you use a less popular credit or debit card, you should always check if the broker accepts it. You should also double-check the broker you want to trade with, you do not want to share because credit card details with anyone. If you choose a fraudulent broker, they may cheat you so you can lose not all the earnings from binary trading, but also all the money from the credit card.
Some brokers offer a wire transfer, although this method is a little obsolete. This is probably because most of the traders trust this depositing method a lot because it is reliable and there is not much space for cheats. The downside of this method is that it is very slow, and it can last over a week for the money to be deposited into your account. The speed is very important in binary trading, so it may be a better solution to choose some other deposit method after all.
Finally, many brokers offer transactions through so-called “eWallets”. This deposit and withdrawal method is increasingly popular for various purposes, so all the reliable brokers offer the option of funding your account this way. The downside is that eWallets often require additional fees and costs for both the trader and the broker. However, the most people find it convenient and the fastest to use these services for various purposes, so they are becoming more and more available with binary options brokers as well.Read More »