Merchant for forex and binary options brokers review
Neteller facilitates instant fund deposits via local or international bank transfer, bank wire, credit and debit card deposits as well as instant local deposits such as IDEAL and Giropay.
If you use more than one trading platform or if you have various online merchant accounts open, it certainly makes life easier if you can use the same payment processor with each account.
The fact that so many websites including a significant number of binary options platforms use Neteller reduces the chances of you having to juggle multiple e-wallets. Virtual and gift card options are also available. There is no fee for transferring funds from within Neteller — i. Commission fees can, however, apply to depositing and withdrawing cash from your balance. Deposits made via local or international bank transfer are free.
For withdrawals, a standard money transfer attracts a basic commission of 1. Various fees apply to other withdrawal options. For full details on current charging rates, refer to the Neteller fee overview. The VIP program includes various discounts on deposits and withdrawals, as well as various other benefits, including lower FX fees and more flexible transaction limits. Customers have the reassurance of knowing that the company operates within the ambit of FCA e-money regulations.
The rules also require the company to have adequate measures to reduce the risk of fraud and identity theft. If you intend to use Neteller for trading, you will need to open an account first of all. Israel has particularly been aggressive in the recent years in cracking down on providers of leveraged investment products such as CFDs and binary options that are deemed too risky to be handled by retail investors.
But ISA has recently stepped up its campaigns against merchants of binary options and is now pushing for a review of the securities law to bar the vendors with offices in the country from even selling to overseas clients.
Belgium on its part has banned all retail trading in binary options, while France has moved to ban advertising of binary options in its jurisdiction, including prohibiting vendors of such products from sponsoring sports.
Several European countries including Germany, Italy, Denmark and the Netherlands are at various stages of clamping down on providers of so-called toxic investment products. The involvement of Mastercard and Visa in battling unregulated binary options trading could come as a major upset for the industry. Cutting access to funds would effectively cripple providers of such products. Several large forex brokerages reduced leverages on certain currency pairs ahead of the U. It will be interesting to see if the trend started by MasterCard and Visa will be replicated by other payment processors in fighting nefarious binary options industry.
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