It is easy to find testimonials from people who have traded binary options on the net that provide us with all kinds of data. It is also easy to find strategies or tactics to know how to invest and succeed… but what is not so easy to find is the payment system to be able to operate in these investments. At first glance we can have a somewhat abstract idea of how payments are made or we can even believe that we pay directly to the Broker, which could put our money at risk. But that is very far from reality!
Payment methods available in Binary Options
Today we will explain the different payment methods available in Binary Options . We assure you that some of them will surprise you, since they are very common payment methods that we use on a daily basis and that we can also adapt to the binary options sector.
Although, before getting into the matter, we want to clarify how the binary options payment system works . When we enter a portal to make binary options , the first thing we have to do is create an account. You already know what it takes to create the account. You have to configure the profile and above all: choose which payment method we want to use. This is vital, because we can see how it has a fund system where the money that we have “given” to make the transactions is reflected. For this reason, we must keep in mind the payment method that we want to use and keep in mind that if we use, for example, our debit or credit card, not all the money in our account will be reflected, but the one that we authorize to use in the transaction. .
Selection of payment methods
In summary, to simplify we could say that we give the money that we see fit and this is reflected in our profile as available funds to use. In this way, that abstract idea that all our capital is reflected and we can use it as we please changes a lot. This service, in addition to being perfect for keeping better control of what we use in investments, is also very appropriate in other aspects, given that many portals or brokers offer us welcome money bonuses, these appearing reflected in our account.
But not everything is so simple, you have to be 100% informed of the payment methods of each portal because not all of them accept the same ones . For this reason, it is essential to invest a little time to see if the Binary Options payment method that we want to use is accepted. Why get informed? Because it is better to spend a few minutes learning about the available payment methods than to spend much more time creating an account and then seeing later that this service does not offer us useful payment methods.
Bank transfers
It is typical to make bank transfers when we buy objects from other people or when placing an order with a bank draft. If bank transfers are used in everyday actions like these, why not also with binary options ? For traders there is nothing more everyday in their day to day life than investing money and profits, right?
Although it is an easy option, few use it, because as you well know, the money is not entered directly, but a few days pass for the transaction to be effective and therefore to be able to use the money. Perhaps this payment method is perfect for beginners or those who want to experience the exciting world of binary options . However, for professionals it is an option that will not only be obsolete, but will also waste a lot of time.
Western Union
Western Union is another payment system that professionals do not use and that, little by little, beginners begin to ignore. This system of international bank drafts is not exactly all the rage. Surely many are surprised that this system is in force but, as we already anticipated, little by little it begins to fall into disuse. Unlike bank transfers, the most positive point of using Western Union is that you only need to scan the receipt of the money sent and you can already operate with binary options, even if the money is not deposited yet . Therefore, it is not necessary to wait days and it speeds up being able to start with our investments, especially when we are sure of the behavior that the investment we have been looking at will have.
Prepaid cards
This option is very widespread , especially in those who start in the world of binary options, since they provide the benefit of being able to use them quickly and have clear control of the money that is used. Prepaid cards, also known as wallet cards, act the same as prepaid phone cards, you have to enter the money you want to use . This system has been generally used in online purchases for years, but now it is beginning to have a boom, because it allows us to have a well-defined limit of the money that we are willing to invest.. Thus, if we want to operate with these cards we have to reload them when we run out of money, so in the end it is easy to move around the framework that we have marked, thus avoiding the temptation to use more money than we defined before starting. to invest.
Debit or credit cards in binary options
Logically, since prepaid cards are allowed, debit or credit cards can also be used. This is, without a doubt, one of the most widespread and convenient payment methods , since all you have to do is enter your details and those of the card and in a matter of minutes, the money will be available in your account to start investing!
Although among the different cards available such as Visa or MasterCard there are some that are easier to use than others, the reality is that they also have some drawbacks. The main one is having complete ease of accessing our money. Especially since some of the beginners may be overly ambitious, taking advantage of this ease of access to the cards to invest more than they should. The desire to tempt fate is reinforced with payment methods as immediate as this one, which leads to more losses being generated than possible simply by not knowing how to move within the limits that we establish before starting to invest.
For this reason, although debit or credit cards are one of the most comfortable methods, they are also one of the most dangerous, especially if we are not diligent or if we are investing aggressively as a result of frustration or anguish by generating losses in previous investments. . On the other hand, something against recommending this payment method is that there are some portals that do not accept it , so it is important that we inform ourselves well before registering with them to know if we can use it or not.
Electronic payment systems
As you know, the Internet is not as safe as it may sometimes seem. We can perfectly fall victim to fraud or a hacker when we enter our data when using debit or credit cards. That is why there are electronic payments that allow us not to expose so much information and we can easily use the money we have in the bank. These operations are also known as virtual wallets and their main function is to be able to use our capital easily and simply. This system is something we use a lot in our day to day life, such as in the form of PayPal or Skrill (previously known as Moneybookers).