Binary Options Sites Alternative Mastercard Payment Methods
On a global scale, one can safely claim that there is rarely a banking provider which has managed to last as long as MasterCard.
This banking institution issues both debit and credit cards which are still considered to be a widely used online payment method.
In an attempt to keep up with the latest tech trends, MasterCard has even incorporated the use of its cards on binary options trading sites.
Binary options trading is the digitalized, online version of a typical stock market. It enables traders to invest money in currencies and commodities according to their market value trends.
The most popular high-low investments simply ask you to place your money on a certain outcome and wait to see whether the asset’s value will follow your predictions. Nowadays, there are all kinds of online payment methods which are available to binary option traders, including MasterCard.
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This company has achieved great success from the early days of e-commerce and builds its progress on the basis of its long-lasting reputation. They pay great attention to the security of each bank account and even employ special monitoring services to record potentially unusual activities. With their global network of currency availability and coverage, it is not surprising that it would be a popular payment method for binary options traders.
Reasons Why MasterCard Is Not Accepted as a Payment Method
The binary option traders are not the only ones who can decide on the use of MasterCard. There are some platforms which simply do not offer the option of depositing or withdrawing funds with their debit or credit cards. This is not a good sign, however, as MasterCard is often seen as an indicator of a platform’s reliability. So if you have selected a binary options site which only offers minor online payment providers, it’s best to reconsider your choice.
Alternative Payment Methods to MasterCard to Fund Binary Options Sites
One of the newer methods available to binary options traders mentioned above is the e-wallet. These companies provide their users with a digital storage location for their money in the form of an e-wallet address. It can be funded with any amount of money you choose to deposit through most of the widely used methods, including MasterCard. Afterwards, e-wallet users are able to distribute this cash by simply sharing the email address associated with their digital account.
Skrill is a leading e-wallet provider in the area of binary options trading platforms. It was firstly regarded with skepticism on the part of more traditional investors who doubted the safety of such e-wallets. This is completely unfounded, as Skrill uses the same 128-bit SSL encryption protocol as MasterCard and any other land-based banking institution to protect the traders’ transactions. Skrill offers greater limits for deposits and withdrawals without any additional charges, which is a major advantage for all binary options investors. That is why many of them consider this e-wallet as a suitable alternative to MasterCard transactions.
The e-wallet industry witnessed its first great success through the increasing popularity of Neteller. This service functions in the same manner as any other e-wallet when it comes to funding your digital account and performing transactions to and from it. It is slightly different from its major rival Skrill, mainly because it has decided to pull out from several binary option brokers in order to retain its legal certificates. This does not mean that Skrill is illegal; it is simply a matter of personal preference, both on the part of the e-wallet service and its users.
Neteller is considered to be a fitting alternative to MasterCard transaction, primarily due to the same security certificates employed by both companies. MasterCard often receives greater recognition solely because it has been present on the market for a longer period of time, but Neteller is quickly overcoming the advantage by lower transaction fees and shorter processing time.
MasterCard is just one of the many banking companies which issue debit cards, and the main rival in this regard is Visa. Binary options brokers normally include both options as available for payment processing, but there are certain limitations mostly depending on the traders’ country of residence.
People consider debit cards as a safer method for their binary options investments. This is because of the nature of these cards which solely hold the money you already have in your account. This reduces the risk of falling in debt whenever you get carried away because you can only spend as much as you can. The other specifications are generally the same as MasterCard’s, making it a good alternative for those traders who want to use a different banking option.
Ultimately, MasterCard does seem replaceable, at least by the payment methods listed above. The company enjoys global reputation, which is why it had not been easy for the rest to reach its level of service. E-wallets attract their users with the help of lower fees, which is truly a major issue for all investors who predominantly use debit and credit card methods. Competitors such as Visa which belong to the same field of work mostly promote the benefits of using a debit card in order to gain advantage. All in all, traders are constantly able to choose from a pool of improved payment method providers as an alternative to the standard MasterCard transaction