As binary options trading becomes one of the most popular ways for both new and inexperienced traders to speculate on a wide range of assets, the ability to fund accounts using web-based e-wallets has also increased. Long gone are the days when a credit and debit card, or the retro bank transfer, was required in order to effectively fund a trading account, sometimes taking time to clear or with the added inconvenience that these forms of payment may not be available during weekends.
The exponential growth of online trading has increased the demand for many binary options brokers and platforms to provide a fast, effective ways to fund a trading account. In a world where delays result in lost profits, TradingBrokerz.com think that those binary options brokers with PayPal and Skrill to solve this problem may be one step ahead of the market. Binary options brokers such as 356Trading and Bloombex are currently leading the way as some of the only binary options brokers to provide PayPal for funding and withdrawal purposes.
Why use binary options brokers with PayPal?
Opening a binary options account is a highly straightforward process for individuals living in United States. Once a trader has decided which platform that they want to use, a simple online web-form can have the account up and running in a matter of minutes. Add to this that many binary options brokers provide an option to use an e-wallet and a simple verification process can result in the account being successfully funded within seconds. Binary options traders who choose an online payment method are not only supported by an efficient and secure payment method but also are no subject to other security measures provided by some credit cards and bank charges.
The benefits of using a system of online payment to fund a binary options account, and especially using the PayPal format, allows for hassle-free trading. Since many PayPal customers choose to have funds available within their accounts in order to make the transfer, rather than opting to fund their accounts each time can save a considerable amount of time.
Furthermore, PayPal accounts can include a variety of currency options in order for binary options traders to fund their trading accounts regardless of the operating currency. This is not only convenient but helps traders to avoid the problems associated with inter-bank exchange rates and those applied by credit cards when making international or currency-to-currency conversions.
Problems finding a broker with PayPal for binary options trading
One of the major drawdowns is that there are not many binary options brokers using PayPal due to the strict anti-fraud regulations that the company employs. TradingBrokerz.com feels that this is a shame given that they offer both efficiency and security in funding a binary options trading account. The less than positive image of many of the early binary options trading platforms, and those which were largely unregulated during the early days, has resulted in a poorer public perception than some other forms of financial speculation. Critically, this has resulted in many would-be new traders being hesitant to use credit or debit cards to fund their accounts.
The introduction of protected and effective methods of direct online payments, using e-wallets, and specifically PayPal and Skrill, has been a boost for many binary options brokers and provided a level of confidence to allow the rapid growth in popularity of binary options trading. In addition to this, both Paypal and many binary options brokers provide individual computer apps which would allow management of both accounts from anywhere in United States.
Those binary options brokers with Paypal payment funding options are in very short supply and it is worth looking to ensure that a broker provides this service. Most of the largest and most reputable binary options brokers, such as 24option, Banc de Binary and Traderush allow for their customers to use an e-wallet but none of these have been able to yet introduce PayPal as their primary source of funding. Other e-wallets are also available although PayPal is considered by many as both the most popular form of online payment and TradingBrokerz.com believe that this should become increasingly available to binary options traders.
How to open a PayPal account for binary options trading
It is also worth noting that opening a PayPal account in order to directly fund a binary options trading account would be a very simple process, but here at TradingBrokerz.com we think it is also worth noting that it is not an instant process. Visiting the PayPal website in United States and select to open a new account by choosing the method of choice to fund the account. Security measures often vary but, in order to fully operate the account, a code which is exclusively linked to this funding method will need to be entered. For new PayPal customers, this can often take a day or two so it is worth taking this in to account when choosing a binary options brokers with PayPal as a preferred method.