If you have clicked this guide on purpose, then you have already taken a step to educate yourself on trading and earn a good sum without too much hard work.
Binary Options are trending everywhere. That’s why more people are becoming inclined towards it and want to learn how to deposit money on Binary Options Broker.
From here, we will take you on a detailed tour to discover everything you need to know before you hastily put money in your trading account.
What is the minimum deposit to trade on Binary Options?
For a live account with a binary options broker, you must invest at least $50. However, you can only enter trades with a minimum amount of $1. One of the industry’s largest minimum deposits is $50.
Many brokers need a minimum deposit of $10, while others require only $5. It may be due to some binary options broker’s premium services.
For starters, the online broker provides quite generous payments. Profitable trades might return up to 97 percent of your investment.
Furthermore, the minimum bet for each asset might be as low as $1. A $10.000 free demo account is also provided by a particular binary options broker.
As a result, you can use the new platform to practice trading. Some binary brokers make it simple to invest real money because they provide over 50 different payment options. They don’t charge commission on deposits or payouts, after all. The system is available 24 hours a day, seven days a week.
In comparison to other brokers, the regular asset profit ranges between 80 and 97 percent. It depends on the asset you’re investing in some cases. Choose from trades with a minimum of 60 seconds and a maximum of 4 hours because they cover a wide range of time frames.
Trades are executed quickly and easily. There are no issues with opening or closing trades, and you can sell an option before its expiration date. For those brokers, this is a significant benefit.
- A $ 50 minimum deposit is required
- A $ 1 minimum trade is required
- High rewards of up to 97% are attainable.
What methods of payment Binary Options accept?
Most of the binary options broker accepts a variety of payment methods when it comes to making deposits and withdrawals. No fees or commissions are charged. You can invest in Binary Options by clicking on top-up/deposit after you’ve made an account.
The following is an example of what you’ll see:
- Debit cards
- Bitcoin
- Credit Cards
- Zcash
- Ethereum
- Skrill
- Neteller
- Perfect Money
- Jeton
- Wire Transfer
- AdvCash and many more…
How do you make a deposit?
- To deposit money, go to the left panel’s “Finance” section and choose “Deposit” from the menu.
- To finish your purchase, select a suitable payment option and follow the on-screen directions. Please keep in mind that the minimum amount varies by method and region. Complete account verification is required for some payment options.
- As a result of your deposit, your profile level may be raised. To see the extras of a higher profile level, click the “Compare” button.
Bonuses and deposits
Bonuses are a great way to earn a little more on your trade. But how can you avail your bonus on your deposit?
Here are some steps you can follow:
- Select a payment method and a deposit amount.
- You can also top up your account with a promotional code.
- You have the option of selecting your bonus amount.
- Keep in mind, the bonus is contingent on the size of your initial investment.
There are also restrictions on how anyone can use a bonus.
- No deposit bonuses
- Bonus can be activated and deactivated at any time.
- The system must wager the bonus before one can withdraw it.
What are the widely used methods of payment?
Traders can fund their accounts with money using a variety of different methods. But, in reality, which is superior? This article will compare and contrast e-wallet, credit/debit cards, bank transfers, and Bitcoin in terms of fees, execution time, and general ease.
Let’s take a closer look at the benefits and drawbacks of each strategy so you can decide which is ideal for you.
#1 Credit Cards and Debit Cards
The simplest way to fund your Binary Options account is with a bank card. To begin with, you most likely already have a card, so you won’t have to create a new account. Second, bank card transactions are typically completed quickly, which is critical when you’re short on cash, and a good chance is approaching.
Any Visa or Mastercard debit or credit cards are accepted by Binary Options for deposits (the cards must have a CVV code on the back).
To make a bank card deposit, go to the Deposit area, choose the card type, enter the amount in the selected currency, type the card details, and click “Proceed to payment.”
Fees
For debit and credit card transactions, IQ Option does not impose a fee. On the other hand, your bank may require you to pay commissions, mainly when dealing with foreign currency transactions.
How long does it take the deposit to reflect in the trading account balance?
Typically, funds are credited immediately. It may take many hours in some instances.
Things to note
- You must register the card in your name.
- Confirm that the card can be used to make foreign internet purchases.
- When using credit cards, be mindful of money management to avoid overspending and debt accumulation.
Binary Options Trading demands that you withdraw using the same credit card you used to deposit to ensure your security. Otherwise, the withdrawal request will be denied by the system.
Why?
Because withdrawals are treated as refunds, they are treated as such. For instance, request a withdrawal equivalent to your initial investment amount, including deposits made during the last 90 days if you deposited with a bank card.
#2 E-Wallets
E-wallets are undoubtedly the most popular means for traders to finance their accounts. An e-wallet is a prepaid Digi wallet used to pay for things all over the internet, including Binary Option deposits. E-wallets are popular among traders because they are simple to set up and use.
Almost all of the binary options broker works with the most popular e-wallets in the world like:
- WebMoney -Enables users to have various accounts (also known as “purses”) with various currencies, which is extremely useful for traders.
- Skrill accepts 40 different currencies and lets users withdraw money from an ATM or have it sent to their bank account.
- For extra-secure payments, Neteller is welcomed. It also allows users to withdraw money from their bank account or use ATMs all around the world.
To use an e-wallet to top up a Binary Options account, select the option of your choice, sign in to your e-wallet account, confirm the payment. The deposit will appear on your account immediately.
Fees
Although the broker charges no fees for e-wallet deposits, most firms charge a modest portion of the transaction. For additional information, see the e-wallet’s website.
How long does It take the deposit to reflect in the trading account balance?
For instant transactions, traders choose e-wallets. One can transfer the E-wallet payment in a matter of minutes.
Things to note
You can use local payment providers as well as internationally recognized e-wallets. To learn which ones are available for your nation, visit the Deposits area of the website.
#3 Wire transfers
Money is electronically sent from one bank to another and then into your account through a wire transfer. This is the most time-consuming mode of deposit, although it does have its benefits.
It’s an extra-secure way because federal requirements demand that one goes through all the documents and verifies their identity. This is why, when depositing significant sums, wire transfers are preferred.
Fees
For this sort of payment, Binary Option does not charge any commissions. However, that is not the case with banks. They expect you to pay roughly $20 in this case (or an equivalent in other currencies).
How long does it take the deposit to reflect in the trading account balance?
Wire transfer execution time is the most time-consuming of them all, taking up to 3-5 business days.
Things to note
You will not be allowed to use wire transfer as a deposit method if your Binary Options profile verification process is still pending.
#4 Bitcoin
All Binary Options traders can deposit using a crypto currency, depending on where they are located. This is fantastic news for anyone who owns Bitcoin and wants to trade it. Keep in mind that after you make a deposit, the system will convert your BTC to your Binary Options profile currency.
Steps to deposit funds using Bitcoin
- Go to the Deposit tab and select the amount you want to deposit in Bitcoin.
- From the list of payment methods on the right, select “Bitcoin.”
- You’ll be asked to provide your crypto wallet address for returns after choosing “Proceed to Payment.” If your payment request is unsuccessful, the funds will be returned to you within 24 hours to the address you gave. After that, double-check the invoice amount in BTC and wait for confirmation.
Fees
For each BTC transaction, a minimal commission is charged. However, The BTC Blockchain rate determines its size, it is often between 5 and 10 EUR or the corresponding in your account currency. The minimal charge, for instance, would be roughly 0,00022962 BTC at a BTC price of 26,600 EUR and a deposit of 10 EUR.
During checkout, the system will compute your commission. The exact BTC amount, including commission, must be sent. The transaction will fail to process if the amount sent is incorrect.
The commission amount will not be credited to your account balance if your deposit attempt fails and you receive a refund.
How long does it take the deposit to reflect in the trading account balance?
It takes 30 minutes to confirm a transaction. The bill will expire if the confirmation does not complete within this time frame. Otherwise, after verification, Binary Options broker will promptly deposit the cash into your account. The wait could be up to 24 hours in some circumstances.
Things to note
- Don’t be fooled by the description – BTC deposits are converted into fiat money in your account’s currency, not Bitcoin.
- To make your first BTC deposit, you must have a history of depositing with other payment methods. With the binary options broker like IQ option, you won’t be able to utilize Bitcoin to make your first deposit.
Perks of using Bitcoin over the other methods
The following are some of the advantages of using cryptocurrencies in binary options trading:
1. Unlike traditional, centralized currencies, bitcoins are decentralized. You may access Bitcoins from anywhere, and the interface won’t tell you that your bitcoins will only be available once the bank has cleared them.
2. Creating a bitcoin profile is easy. To begin mining bitcoins, all you need is access to a bitcoin-generating machine. As a binary options trader, you’ll find that creating a trading account is simply because it may be linked to your nominal account. This makes depositing and withdrawing cryptocurrencies to and from the binary options broker’s platform simple.
3. When trading bitcoins, you’ll observe that it’s challenging to find one that is depreciating. This means that you can correctly forecast a bullish BTC/USD in the vast majority of cases and thus execute a call trade option. The main thing to keep in mind is to keep your prediction from increasing too much.
Even if some parts of the overall system are down, you may deposit and withdraw cryptocurrencies from your binary options platform quickly and easily. Additionally, cryptocurrency exchanges are free of charge.
Conclusion
The binary option accepts various payment methods to ensure that each trader may fund their profile in the most convenient way possible. The quickest methods include bank cards and electronic wallets.
Those who want more excellent protection — or who don’t have credit cards or an e-wallet profile — should use wire transfer. Ultimately, Bitcoin transactions are a viable option for crypto wallet owners who want to invest in digital currency while receiving a profit in fiat cash.
Whatever deposit method you choose, you’ll have access to a variety of withdrawal options as well.
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