PayPal Binary Options Brokers
Which Binary Options Brokers Accept Paypal Deposits?
Unlike the old days of financial trading when the only means of depositing and withdrawing funds from a trading account was via the use of bank wire transfers, there are now many options for traders in performing transactions with their binary options brokers. Although still not universally accepted, PayPal is an important means of transaction for brokers and traders alike where this medium is used.
Started by Elon Musk and few other entrepreneurs in the early 90s before being eventually sold to eBay, PayPal can be considered to be a pioneer in the e-payments business. Many brokers would have employed PayPal for transactions, but the stringent fraud-protection measures put in place by the company which includes locking out nationals of certain countries from using the platform has severely limited its use in the binary options market. If you live in a PayPal-compliant country and want to know if there is a possibility of using this method for transacting in the binary options market, there are still a few PayPal-friendly binary options brokers you can use and we shall be listing them out here.
Another reason why PayPal does not have universal usage in the binary options market as a means of transaction is because many brokers in the market are located in Cyprus, and there have been known issues between PayPal and the operations of brokers in Cyprus. It is hoped that by the time CySEC is done with the full implementation of the registration of binary options brokers, we will see more PayPal-friendly binary options brokers.
The use of Paypal for account deposits and withdrawals on Betonmarkets is restricted to traders who live in Indonesian and other ASEAN countries. The minimum deposit requirement is $200. Traders are required to open and activate their PayPal accounts, and this requires the account holder to verify with their local bank accounts.
OptionXP provides funding and withdrawal facilities with Paypal, effectively making them a Paypal-friendly binary options broker. The challenge with this broker is that they only offer an English Language interface and this makes this brokerage inaccessible to speakers of other languages. For such people, they can try using IkkoTrader which has a multi-lingual platform.
IkkoTrader is another PayPal-friendly binary options broker, which allows traders to deposit a minimum deposit of $100 into their Ikkotrader accounts. IkkoTrader gives universal access to PayPal for those from countries where PayPal use is accepted. This allows many more traders to get access to the use of PayPal in transacting on their accounts.
EmpireOption accepts US traders, and this gives them the opportunity to use PayPal to deposit funds and withdraw profits from their trading accounts. With a minimum of $200, traders can use their PayPal accounts to deposit and withdraw from their EmpireOption accounts. Although there are fewer countries that can access this facility than is stated on EmpireOption, traders who are fortunate enough to access this can make the best of this transaction option.
PayPal has an unapologetic bias for transacting with North Americans, so it is not a surprise that the North American Derivatives Exchange (NADEX) has made it to the top of this list. Owned and operated by the IG Group brokerage firm, NADEX allows traders to be direct dealers on the exchange. Nadex has limited access to its platform to just US citizens and US residents, and this makes it a PayPal-friendly binary options broker. With as low as $100, you can deposit funds with your PayPal account into your Nadex trading account. There are no transaction fees.
These are the Paypal-friendly binary options brokers that are available in the market today. Perhaps in 2013, we will see more brokers joining this exclusive club.