Below you find a list of the best binary options brokers that allow deposits and withdrawals by Mastercard :
Binary Brokers with Mastercard
Originally founded as Interbank in 1966, Mastercard has since grown to be a renowned global financial service provider with a whopping annual revenue surpassing $6 billion. With its headquarters nestled in New York, USA, the company maintains an impressive presence with over 80 offices worldwide, reaching corners of Europe, the UK, and Asia. Currently, Michael Miebach holds the helm as the CEO. Publicly trading since 2006, Mastercard lists its shares on the NYSE. Through the Mastercard Foundation, the company also contributes to various charitable endeavors.
Being one of the world’s predominant electronic payment companies, Mastercard offers an array of payment services to its vast clientele. The brand is a close second in the global payment network hierarchy, trailing behind Visa. It’s reported that the company’s annual gross dollar volumes soar beyond $6.3 trillion.
Mastercard collaborates with financial institutions as partners to streamline their electronic payment transactions, while also presenting a selection of payment card options, ranging from debit, credit, to prepaid cards.
Mastercard’s primary role is to offer financial services to other businesses. Its revenue majorly springs from the fees on gross dollar volumes. The recognizable red and yellow logo signifies its brand, and any establishment accepting this brand ensures the card’s usability, adhering to the ‘open loop’ concept.
Several binary options brokers accept payments via Mastercard. For traders, this means an easy, fee-free and instantaneous deposit into their accounts, all the while reaping the benefits of Mastercard’s robust safety measures.
Deposits for binary options trading via Mastercard are typically swift. However, the transaction speed can be platform-dependent. While some elite platforms, such as Quotex and RaceOption, offer instant deposits, others might take one to three business days. Nonetheless, the longest one might have to wait is usually five business days.
A Glance at Pricing
Mastercard doesn’t directly issue cards; banks do. Therefore, the fees associated with Mastercard transactions vary. Transactional costs can be anywhere between 0.2% to over 2% for ATM withdrawals, but many vendors usually absorb these fees. Moreover, deposit charges vary amongst binary options brokers. While most facilitate free deposits, a few might levy a nominal charge.
A unique security feature of Mastercard is the SecureCode – a 3D verification system designed to offer an additional layer of protection against fraudulent activities. The code ensures transactions remain confidential, accessed only by the clients either through an SMS from their respective banks or via fingerprint verification.
Pros and Cons for Binary Options Traders
- Global Acceptance: Mastercard’s vast reach extends to the UK, USA, Europe, Asia, and Africa. As a result, most binary options brokers are more than willing to accept it for transactions.
- Quick Deposits: Mastercard’s quick deposit feature ensures traders can commence their trading activities without delay.
- Top-tier Security: With SecureCode and the additional security protocols from the binary options broker, traders can enjoy a safe trading environment.
- Chargebacks: In the face of fraudulent activities, Mastercard enables traders to reclaim their money, albeit conditions apply.
- Bank-Issued Cards: Mastercard doesn’t issue cards directly. Traders need to open bank accounts and go through certain processes to acquire a card.
- Fees Variation: Due to the bank-issued nature of the cards, the fees can vary.
Mastercard Transactions – Deposits and Withdrawals
Depositing funds into a binary options account using Mastercard is simple and requires the basic card details. On the other hand, withdrawals are just as effortless, with funds reflecting within five business days at most. It’s noteworthy that some binary options brokers might restrict withdrawal methods based on the initial deposit method used.
Final Words on Mastercard Binary Options Brokers
Mastercard stands tall as a preferred choice for funding binary options accounts due to its global accessibility, reasonable fees, and stringent security features.
- What is Mastercard? Mastercard is a global payment facilitator connecting merchants and consumers, including binary options traders.
- Acquiring a Mastercard: You must approach a bank to get a Mastercard.
- Trading with Mastercard: Most binary options brokers accept Mastercard for deposits and withdrawals.
- Mastercard Types: Mastercard offers credit, debit, and prepaid cards through affiliated banks.
- Mastercard vs. Visa: Both are leading payment networks with minor differences in fees set by associated banks.