Below you find a list of the best binary options brokers that allow deposits and withdrawals by Apple Pay:
Binary Brokers with Apple Pay
About Apple Pay
Since its launch in 2014, Apple Pay has emerged as a leading digital wallet, enabling users to store debit, credit, and prepaid cards securely. Today, Apple Pay stands tall with 500+ million users, ahead of PayPal’s 400+ million, Google Pay’s 150+ million, and Samsung Pay’s 100 million users.
This versatile payment solution is compatible across a variety of Apple devices, such as iPhones, iPads, Macs, and Apple Watches. As a result, traders can conveniently fund their accounts on Apple Pay compatible binary options brokers using their preferred trading device.
Enhancing transaction security is central to Apple Pay. Unlike the conventional bank cards with magnetic stripes, Apple deploys data encryption to fortify transaction privacy and security.
Understanding Apple Pay’s Mechanism
Apple Pay streamlines contactless payments using near-field communications (NFC). After saving card details on a device, users can authenticate payments through Touch ID or Face ID.
To accommodate Apple Pay, binary options brokers align with e-commerce platforms, leveraging APIs. For successful payment acceptance, online platforms must:
- Use HTTPS and possess an SSL certificate.
- Achieve domain verification with Apple.
- Ensure support for TLS 1.2 or later.
Making Deposits & Withdrawals with Apple Pay
To fund binary options accounts using Apple Pay, traders need an Apple ID active on their device.
Setting up an Apple ID involves creating an iCloud email and password, followed by adding bank cards (up to 16) from recognized banks like HSBC, Halifax, Monzo, and Barclays. Major card issuers such as Visa, Mastercard, American Express, and Interac are also supported.
For transactions, Apple ID’s password and/or Face ID or Touch ID are essential. Apple’s system, by default, picks your primary payment card, although this can be manually changed.
Transaction Dynamics
Deposits via Apple Pay usually mirror the immediacy of in-store contactless payments. For instance, World Forex provides prompt account crediting. Conversely, withdrawals could take anywhere from 30 minutes to several days, attributed to necessary KYC and AML checks. Additionally, some brokers might mandate profit withdrawals to the original depositing method.
Apple Pay Binary Brokers: Pricing Aspect
Although Apple doesn’t impose charges for its digital wallet’s usage, the ultimate transaction fee rests with the binary options broker. Noteworthy brokers, like World Forex, abstain from levying charges on initial deposits. However, withdrawals might carry a fee.
Pros & Cons of Apple Pay Binary Brokers
Pros:
- Zero charges on deposits.
- Enhanced transaction security.
- Support for 150 currencies.
- Swift trading deposits.
- Highly convenient for mobile traders.
Cons:
- Exclusivity to Apple devices.
- Limited binary options brokers supporting Apple Pay.
Support and Security
Apple Pay maintains an extensive online help center. In addition to this, they offer phone support and live chat services.
Concerning privacy and security, Apple ensures user data remains encrypted and private. To enhance security during card addition, a verification process is in place, where users can opt for a one-time code via text or email.
Comparatively, Google Wallet (formerly Google Pay) is similar in service to Apple Pay. The authentication process forms the primary difference. Google Pay operates as a middleman between banks and merchants and might utilize transaction data for ad targeting. In contrast, Apple Pay keeps transaction data strictly between brokers and banks.
On the other hand, Samsung Pay, available solely on Samsung devices, primarily facilitates in-store payments and lacks compatibility with online platforms or apps.