Binary options electronic wallets: Choose the right payment method

Binary options brokers enable you to carry out deposits or withdrawals via electronic wallets like Moneybookers, Neteller or even PayPal. These days traders are attracted to these payment methods because they have proved to be reliable, secure and practical when withdrawing earnings or making a secure deposit on a trading account. However a recent scandal erupted when the American authorities shut down Liberty Reserve, accused of laundering money generated by illegal activities like drugs and theft of bank data.

Why was Liberty Reserve shut down? This company’s website allowed clients to open an electronic wallet account with no control procedures and therefore to launder money with impunity. Liberty Reserve was not validating clients’ identity so unethical clients were able to take the names off loans in order to open an account. At the current time, the American authorities have seized the funds held by Liberty Reserve and their future remains unclear.

Which electronic wallet should be chosen? Of course Liberty Reserve isn’t the only electronic wallet payment provider. There are serious providers like Moneybooker/Skrill, which are regulated by the FCA in the UK or Neteller and Paypal. These companies perform controls via user identification document verification.

Of course, the team highly recommends using providers like Moneybooker/Skrill, Neteller or Paypal, which are regulated and well-known for their reliability. The challenge is the same one faced when choosing a binary options broker. You must always check to see if the business is certified in order to use its’ services in complete security.

The electronic wallet is the best way to make a deposit or withdrawal: We would like to point out that making a deposit via an electronic wallet is the best payment method. In fact, deposit and withdrawal transactions done via electronic wallets are processed more rapidly than the ones done via the banks or credit/debit cards. It’s good to know that all the brokers found in our ranking offer Moneybooker /Skrill, Neteller or Paypal. Therefore you can make a deposit or withdrawal with assurance that your money is held in complete security, thanks to our research about the best payment methods to use when trading binary options.


Leave a Reply