Below you find a list of the best binary options brokers that allow deposits and withdrawals by Paysafecard:
Binary Brokers with Paysafecard
About Paysafecard
Paysafecard is a unique payment solution that relies on 16-digit pin numbers, initially available on physical cards. These pin numbers can be used multiple times, and consumers have the option of purchasing several of them. In 2004, the company expanded its offering by introducing eVouchers, digital versions of their product. You can buy paysafecard in denominations of €10 and €100. To transact higher amounts, users can combine up to ten pin numbers, reaching a maximum total of €1,000.
The entity behind this innovative payment system is paysafecard.com Wertkarten AG, headquartered in Vienna. The company has spread its reach globally, boasting subsidiaries in nations such as Argentina, Germany, Gibraltar, Great Britain, Mexico, Switzerland, the Netherlands, and the USA. Presently, paysafecard’s system has gained acceptance in over 37 countries spanning Australia, Europe, and the Americas, and more than 4000 online platforms recognize it.
Why Opt for Paysafecard with Binary Options Brokers?
Paysafecard, with its broad international footprint, has been operating under a collection of subsidiaries across various countries. In 2006, they secured funding from the European Union (EU) eTen Community programme, which was aimed at expanding its electronic payment services throughout the EU. By 2008, one of its branches, Prepaid Services Company Ltd, secured an e-money license from the UK’s Financial Services Authority (FSA), empowering paysafecard to transact in e-money throughout the EU. Their commitment to excellence didn’t go unnoticed. In 2008, they clinched the titles of “Best Prepaid Company Outside USA” and “Leading Prepaid Organisation” at the Prepaid Awards.
The credibility and efficiency of paysafecard’s offerings not only won the trust of its users but also caught the attention of its market rivals. A testament to this is when Skrill, a prominent European competitor, acquired the holding firm paysafecard.com Wertkarten AG in 2013.
Seeing the growing trend and adoption of paysafecard as a preferred payment method, several progressive binary brokers have now incorporated Paysafecard’s e-money as an accepted mode for their client deposits.
Benefits of Using Paysafecard with Binary Options Brokers:
- Privacy and Anonymity: Paysafecard provides a layer of privacy since it doesn’t require linking to a bank account or credit card. It works as a prepaid card, allowing users to maintain their financial privacy.
- Security: There’s no need to share sensitive personal or financial details with the broker, reducing the risk of potential data breaches or misuse of information.
- Simple and Easy: Buying a Paysafecard and using the pin for depositing funds is straightforward, making it accessible even for those not tech-savvy.
- Budget Control: Since Paysafecard works on a prepaid basis, it can help traders set a budget and stick to it, reducing the risks of overspending.
- Quick Deposits: Depositing money using Paysafecard is generally instantaneous.
- No Overdraft: Being a prepaid solution, there’s no risk of going into overdraft or accruing unexpected charges.
- Widely Accepted: Many binary options brokers recognize and accept Paysafecard due to its popularity and ease of use.
Drawbacks of Using Paysafecard with Binary Options Brokers:
- Withdrawal Limitations: While Paysafecard is great for deposits, it might not be as convenient for withdrawals. Traders may need to use another method to withdraw their profits.
- Loss of Anonymity if Combining Pins: While individual pins offer anonymity, combining multiple pins for larger deposits can require creating a “my paysafecard” account, which requires personal details.
- Fixed Denominations: Paysafecard comes in fixed denominations, which might not always match the exact amount a trader wishes to deposit.
- Potential Fees: Some brokers might charge a fee for using prepaid options like Paysafecard. Additionally, Paysafecard itself might have fees associated with prolonged inactivity or currency conversion.
- Risk of Misplacing: Like any physical card or voucher, there’s a risk of losing the Paysafecard or forgetting the pin, leading to a loss of the deposited amount.
- Not Universally Available: While Paysafecard is available in many countries, it’s not universal. Some traders might not have access to it depending on their location.