Below you find a list of the best binary options brokers that allow deposits and withdrawals by Cashu:
Binary Brokers with Cashu
Established in 2002 by the Jordanian digital services company, Maktoob, Cashu started as an online credit card payment platform. The company underwent various leadership shifts, with Souq.com acquiring it in 2012 and a landmark management buyout in 2015, the first in the Middle East.
By 2016, Cashu relocated to Singapore, seeking local regulatory approval. This period also saw the introduction of its prepaid virtual Mastercard. By 2017, it secured full operating rights in Saudi Arabia.
Over 2.3 million users across regions like Libya, Iraq, Jordan, and Qatar prefer Cashu for its swift, secure, and bank-independent online transactions. Funding your Cashu wallet is straightforward through various means, including credit/debit cards or approved vouchers. With over 75,000 approved Cashu vendors in the MENA region and acceptance by approximately 7,000 online merchants, it offers a plethora of spending options.
Despite its benefits, Cashu remains less prevalent among binary options brokers in major markets like the UK. However, its virtual “Majd” Mastercard might offer an alternative payment route.
Transaction Details with Cashu
With Cashu, transactions, especially deposits to binary options brokers, are typically instantaneous, although specific timings might vary.
While Cashu offers convenience, especially for those bypassing traditional banking, it’s not the most economical choice. Some key charges include:
- Funding via a debit card incurs a 3.5% fee plus foreign exchange rates.
- Annual wallet maintenance of $1.
- Dormant wallets attract a $1 monthly charge.
- Cryptocurrency transactions have a 3% fee.
Transfers, particularly international ones, can be costly. A notable charge is the creation of the Majd Mastercard at $5 with a monthly maintenance fee of $1.
Traders should also be mindful of potential additional fees by binary options brokers that accept Cashu.
Safety Protocols with Cashu
Reputationally, Cashu stands as a reliable transaction method for binary options brokers. Their advanced fraud prevention mechanisms and stringent password update requirements bolster security. Users are also provided with essential online security advice to thwart potential scams. However, a glaring shortfall is the absence of real-time support.
Pros and Cons for Binary Options Traders using Cashu
- Immediate deposits to binary options accounts.
- Wide acceptance in the Middle East and North Africa.
- Allows Mastercard access and online payments without a bank.
- Versatile payment options, including cryptocurrency.
- Extensive merchant network.
- Trusted and secure system.
- Limited binary options brokers accept Cashu.
- Restricted support in major markets.
- High international transfer fees.
- Absence of real-time support.
- Costly transactions.
Navigating Cashu Binary Broker Transactions
Interacting with binary options brokers using Cashu mirrors other digital wallets’ operations. The primary steps involve selecting Cashu as your payment choice and following the broker’s transaction guide. It’s worth noting that while the Majd Mastercard may facilitate deposits, withdrawal to the same may be challenging.
Closing Thoughts on Cashu Binary Options Brokers
Predominantly favored in regions like the Levant, Dubai, Egypt, and Libya, Cashu remains a preferred choice for its speed, security, and relative affordability. The virtual card adds flexibility for diverse online merchants, and its wide vendor network aids bank-free deposits.
However, potential users must consider factors like high fees for certain transactions, limited availability, and customer support limitations.
- How does Cashu Wallet work for binary options trading? Most binary options brokers guide users through the process.
- Is Cashu cost-effective for funding binary options accounts? Though not the priciest, multiple fees can accumulate, making it costlier than other options.
- Which binary options brokers support Cashu? Cashu enjoys popularity in the Middle East and North Africa. Brands like Pocket Option recognize Cashu.
- Is Cashu secure for binary options traders? Yes, with millions trusting it, although the lack of live support might be a concern for some.
- Is Cashu recommended for binary options traders? While convenient, especially in certain regions, the fees can accumulate, making traditional bank-issued cards more economical.