When you want to trade with binary options for real money you have to consider what deposit method to choose. The best binary option brokers offer a wide variety of methods to choose from. If you’re already familiar with online payment solutions, you won’t have any issues funding your binary option account. However, there are some issues that may occur due to the fact that traders come from different countries and different countries have different requirements for online payments. Let’s take a look at the most common deposit options you can use for binary option trading.
Credit cards are the most common online payment solution and work perfectly for binary option trading. There is virtually no binary option broker that does not allow you to make a deposit using your credit card, especially Mastercard and Visa, the two major brands in this industry. If you’re using other cards like Amex you have to take a closer look at the binary option brokers website or ask their support whether such cards are allowed .The truth is that when you own a Mastercard or Visa card you won’t have any trouble making a deposit and you can select your broker freely. See also: Credit Card Deposit
Wire transfer, Direct24 and more
This classic payment method is still popular even though it has some major disadvantages like speed. It can take a few days until a wire reaches the brokers account and you can start trading. Usually, you don’t have that much time and we all know that time is money. So even though a wire is a popular deposit method that people trust and are used to, it’s not highly recommended for funding your binary option trading account. But there’s a way to solve this: Direct24 and similar providers of instant transfers. If you select one of these deposit options you can select the amount you want to deposit and will be forwarded to an interface that looks like your standard online banking portal. You just have to type in your TAN to verify the transaction and the money will be credited instantly to your account. This way, you will be depositing funds from your bank account in a matter of minutes. You don’t have to wait a few days and you don’t even have to type in account numbers and reference etc. This is a quick way to get started and if you never tried this deposit option before you definitely should when you usually make deposits using a wire transfer.
eWallets: Skrill, Neteller, Paypal
Some people say that eWallets are the payment gateways of the future. This may be true because eWallets offer many advantages and you can protect your money better than you can with credit cards, for example. There are many eWallets. The most popular and internationally accepted ones are: Paypal, Skrill (formerly known as Moneybookers), Neteller, Click&Buy, Click2Pay and a few others. All of these eWallets have their target markets. For Paypal, it’s ecommerce like eBay and online stores. For Skrill and Neteller, it’s the gambling market and for Click&Buy it’s the iTunes store. eWallets are not that popular for binary option brokers but this could change very soon. More information: Skrill Deposit and Paypal Deposit.
Trading for Real Money
You have two options: You can trade with a demo account where you wont risk any real money or you can trade with real money right away. This means that you have your very own money at stake and if your own option was not successful you lost money that you could have spent otherwise. This is not the case with a demo account. With a demo account you only trade with virtual money for free. Reliable brokers won’t charge anything when you trade with demo money. You should start trading with a demo account to get used to binary option trading.