Update 2016: Ukash was acquired by Paysafecard.
Ukash is a very innovative deposit method that beginners really like. They go to the next super market or gas station, buy a Ukash card and use the code to make a deposit. That sounds very easy and it really is. Imagine you want to start trading and you don’t have a credit card or using an eWallet like Skrill. In this case you can buy a Ukash card and you can start trading immediately. Of course you can’t buy Ukash cards everywhere so you should checkout the Ukash website if there’s a store in your neighbourhood where you can buy such a prepaid card. You have to select your country on the right side and type in your ZIP code to find stores. When you’re from Europe chances are that you find a store next to you. In this case you buy a Ukash card with your prefered amount, choose the right broker and there you go!
Broker that support Ukash
To be honest, there are not many brokers that support Ukash. When you’re choosing the right broker there won’t be any fees for you. A reliable broker will cover those fees and that means that you will trade with $100 when you deposit $100 and not less! With credit cards and a bank transfer these fees are very low but this is not the case with Ukash. It costs a lot to distribute those cards and that makes them pretty expensive as deposit methods. That’s why there are not that many brokers where you can make your deposit using Ukash but here are our recommendations:
Who should deposit with Ukash?
Ukash is not the right deposit method for every trader. Usually you can’t deposit a lot of money with this card because it’s not very handy to take $1000 to a super market and buy 20 $50 Ukash cards with this money and make a deposit with all of them later. The till girl will even call you crazy!
There’s no doubt that Ukash is only an option when you don’t want to deposit a lot of money. If you want to trade with $100 for example you’ll be perfectly fine with Ukash as deposit option.