The Binary Options industry have come a long way since its early days, in terms of available payment methods alternatives. In the past days, traders were only able to make a deposit via credit card and in some cases via bank wire as well. Nowadays, There are many reliable E-wallets online, which binary option brokers are using their services, giving their traders the option to invest funds via those wallets.
One of the most popular wallets is without a doubt, PayPal. This company started by Elon Musk and few other entrepreneurs in the early 90s and was recently sold eBay, is considered to be a pioneer in the E-wallets business.
More than 75% of the online business are using paypal as there main money processor. However, when it comes to making a deposit with a binary option broker, via the friendly platform of Paypal, things are bit more difficult and due to the high security standard of Paypal, many binary brokers are not able to implement this payment method in their platform.
When it comes to Binary Options, the main benefit of using Paypal as your payment method is that funds are a lot more accessible compared to wire transfers, where transactions usually takes longer.
Another great advantage is the low fees Paypal charges for each transfers. Unlike wire transfers, which typically cost between $20 to $100.
Yet, there are also some downsides when using Paypal with binary options. Firstly, you should know that there are limitations on the allowed transaction size, and on most account the maximum amount allowed per day is $3,000, so in case you wise to invest bigger amounts with your broker, it might not be possible using this payment method.
The second issue of using Paypal with binary options is that most brokers simply do not have it. The main reason is due to the fact that Paypal is not a big fan of online gambling and as you know, binary options definition is still not 100% clear. As a result, many binary brokers are not able to implement this payment method in their platform.
Binary Options Brokers that Accept Paypal
Unfortunately, there are not too many Binary Options Brokers that Accept Paypal as one of their payment method alternatives. The broker which we have found as the most friendly when it comes to using Paypal is. Yet you should know that they accepts only US citizens. You can start with as low as $100, and there are no fees for using this method.
Hopefully in the near future, there will be many more Binary Options Brokers that Accept Paypal as one of their accepted payment methods.