Below you find a list of the best binary options brokers that allow deposits and withdrawals by FasaPay :
Binary Brokers with FasaPay
About FasaPay
Established in 2011 in Malaysia, FasaPay offers a user-friendly online payment solution that’s become an attractive alternative in various countries to services like PayPal, Skrill, and Neteller.
- How it Works: Much like a standard online wallet, users deposit funds into FasaPay in either US dollars (USD) or Indonesian rupiahs (IDR). This balance is then used to transact with FasaPay’s partnered merchants.
- Funding: No credit/debit card? No problem. Users can fund their accounts through direct bank transfers. The FasaPay mobile app for Android users simplifies this process further. However, only verified users can conduct certain bank transfers, and there’s a minimum transaction amount of $1,000. Active users have a $5,000 deposit cap, while verified users can deposit up to $75,000. For withdrawals, active users are limited to $5,000, which increases to $25,000 for verified users.
- Features: FasaPay enables Perfect Money users to swiftly buy Bitcoin (BTC) via its exchanger partner. Moreover, it’s a prevalent method for funding binary options trading accounts.
- Global Reach: While dominant in Indonesia and other Southeast Asian nations, FasaPay has a presence in countries such as Australia, France, and Nigeria. However, the US and Canada are exceptions as the platform doesn’t cater to these regions.
Transaction Details
According to FasaPay’s official website, transactions between a FasaPay account and a verified merchant/user occur “without delay.” Before transacting, you need to deposit into your FasaPay account, typically done via bank transfers. Note that deposits require completing an order form during FasaPay’s working hours (Monday to Friday, 09:00-22:00 GMT+8). Withdrawal requests follow a similar timeframe and typically finalize within 2-10 business days. Binary options brokers might have additional verification steps.
Fees and Costs
FasaPay’s competitive pricing appeals to many. There are no charges for deposits or withdrawals, although banks might impose administration fees. Transfers between FasaPay accounts come with a 0.5% fee (minimum $0.01). Additional fees might arise from currency conversions or broker charges.
Safety Protocols
Given the nature of binary options trading, security is paramount. FasaPay has proven itself reliable and secure over the years. They offer a six-digit master code upon account creation, necessary for account changes. Users also get a PIN code for added security layers. Other features include API security services, IP address whitelisting/blacklisting, and a thorough verification process for full access.
For security queries, users can contact FasaPay via live chat, email, or Skype.
Pros and Cons for Binary Options Traders
Pros:
- Acceptance: Big binary options trading brokers, like Alpari and Pocket Option, accept FasaPay.
- Affordability: FasaPay boasts minimal fees with zero charges for deposits or withdrawals.
- Availability: Excluding the US and Canada, FasaPay serves a global clientele.
- Trustworthiness: A decade in business showcases FasaPay’s reliability and robust security features.
Cons:
- Currency Restrictions: FasaPay deals in USD and IDR, potentially complicating transactions for other currencies.
- Minimum Transaction Limits: The $1,000 threshold for both deposits and withdrawals might be steep for some.
- Processing Duration: Withdrawals can take up to 10 days, and only happen during working hours. Moreover, brokers might have additional processing times.
Utilizing FasaPay with Binary Options Brokers
Using FasaPay for deposits and withdrawals is straightforward. Typically, after logging into their trading account, users click on the relevant transaction option, choose FasaPay, and follow the prompts. Brokers offer support if any issues arise.
Final Thoughts
FasaPay, with its wide acceptance and low fees, is a reliable payment method for many binary options traders, especially outside the US and Canada. However, its prolonged withdrawal times and significant minimum transaction amounts might deter some.
If you’re considering this payment option, check out top binary options brokers that facilitate FasaPay transactions.
FAQ
- What is FasaPay?
- FasaPay is a global online payment gateway, allowing users to deposit and transact in USD or IDR. It’s a preferred choice for buying cryptocurrencies and funding binary options trading accounts, especially in Southeast Asia and certain African nations.
- Is FasaPay Secure?
- With over a decade of operation, FasaPay is a trusted name with standard and advanced security measures in place.
- What are FasaPay’s Costs?
- While FasaPay is a for-profit entity, its fees are competitively low, mainly charging a 0.5% transfer fee.
- Depositing into FasaPay: How?
- It’s simple. Users complete an order form and proceed with a bank transfer. Transactions process during the firm’s business hours.
- How to Use FasaPay?
- After registration and verification, users can deposit funds and transact with partnered online merchants, purchase cryptocurrencies, or fund binary options trading accounts. The minimum transaction amount is $1,000, with varying limits based on user verification status.