Binary Options Trading with PayPal
Posted By admin on June 22, 2015
The sole reason as to why we engage in investment ventures is always to make that extra dollar. That’s the main reason why every trader always looks forward to making a withdrawal from their trading account. However, this is not always a seamless process and most traders find themselves depositing more than they are withdrawing. Some traders may even avoid withdrawals due to the complicated procedures involved and the costs that come with them. For instance, when making a withdrawal via wire transfer, a trader is usually charged a minimum of $25 as processing fees. It’s therefore logical for a trader to forfeit a withdrawal just to avoid the withdrawal fees especially if they have only made a profit of $50. Today, we will be looking at binary options banking using PayPal.
Paypal is the most flexible banking channel offered by binary options brokers. However, to be able to bank using PayPal, you have to have your own PayPal account. The PayPal account and address is then used by the broker in order to send your payments. Without the PayPal email address, it is practically impossible to use the PayPal banking service.
Advantages of Using Paypal for your Binary Options Banking
Faster – Banking via PayPal is obviously faster since there are fewer procedures involved. Actually, you only need your broker’s PayPal address and to have enough funds in your account in order to make a deposit. After sending the money, it takes only a few moments to reflect on your broker’s PayPal account. Also, it only takes a few moments for funds to show up in a PayPal account after your broker accepts and actions your withdrawal request.
Security measure – You have obviously heard of a typical binary options scheme where brokers use personal information for identity theft. Well, by using PayPal, a trader protects himself from possible identity theft. This is since you don’t have to disclose your personal information let alone your credit card information.
Cost – When making a withdrawal, the withdrawal fee is always the big nightmare for any trader. Using some withdrawal channels can cost up to a few hundred dollars depending on the size of the withdrawal. However, by using the PayPal banking option, you don’t have to worry about exorbitant processing fees since there are none. Yes, you heard me right. The PayPal banking option attracts zero processing fees!
Although PayPal presents a flexible and convenient way for banking to traders as well as binary options brokers, its use is yet to be embraced by most brokers. Only a handful of brokers are currently accepting deposits made via PayPal. Interestingly, some of the brokers don’t even allow withdrawals via PayPal. Other brokers who are yet to roll out PayPal banking cite the strict anti-fraud policies adopted by PayPal whereas some find the 1.5% commission charged on payments quite high although we know that’s a flimsy excuse.
Banking via PayPal is currently the best option when it comes to eliminating scams in the binary options world. However, it’s unfortunate that most brokers are yet to adopt this banking channel. If you are after fast and timely withdrawals, PayPal remains to be the best option.
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