Below you find a list of the best binary options brokers that allow deposits and withdrawals by Perfect Money:
Binary Brokers with Perfect Money
About Perfect Money
Binary options traders often prefer Perfect Money over standard banking methods like Visa or Mastercard. We delve into the company’s recent updates, its background, and valuable insights. We also offer a list of top binary options brokers that support Perfect Money for both deposits and withdrawals.
Founded in 2007 and officially registered in Panama, Perfect Money’s primary offices are located in Zurich, Switzerland, and it also maintains a presence in Hong Kong. The company’s primary goal is to offer a seamless online payment system, distinguishing itself from the likes of PayPal, Western Union, WebMoney, Skrill, and Payeer.
The platform enables users to set up e-wallets in US dollars, euros, bitcoins, and gold to conduct various financial operations. The registration is straightforward, with users entering personal information. However, to unlock all features, a verification step involving ID documentation and a phone call is necessary.
Deposits are facilitated through bank transfers or an extensive list of certified exchange partners listed on the company’s website. Perfect Money stands out by allowing users to receive payments in their e-wallet without a bank account. It also offers the ability to transact without a bank using e-vouchers.
For international transfers within the system, there’s a 5% fee, though exchange rates might introduce additional costs. Users can access all functionalities using Perfect Money’s official app for both iOS and Android devices.
One unique feature is the peer-to-peer loan system for verified account holders, allowing them to earn approximately 4% interest.
However, it’s worth noting that Perfect Money does not accept new customers from the U.S. due to regulatory constraints. Despite this, its comprehensive features have made it a preferred choice among traders globally.
Transaction Speed with Perfect Money
A highlight of Perfect Money is its swift transaction times, especially for internal transfers. While bank transfers follow the usual 3-5 business day timeframe, internal transfers through Perfect Money are instant. Yet, withdrawal times can vary based on individual broker policies.
Cost Implications
Despite boasting some of the market’s lowest fees, Perfect Money does impose several charges. For instance, there’s a starting fee of 0.5% for wire transfer deposits and an additional 5% fee for sending money to countries with different currencies. Furthermore, internal transfer fees range from 0.5% for verified customers to 1.99% for unverified ones. Withdrawal fees also vary, with wire transfers costing 2.85% plus bank fees, and Bitcoin withdrawals being charged at 0.5% plus $10.
Security Measures
Perfect Money’s long-standing presence is a testament to its reliability and safety. They offer various security features, including IP checks on login, PIN codes, two-factor authentication, and a unique code card system. Additionally, the peer-to-peer lending system allows for lender security through borrower ratings and potential account freezes for defaulters.
Advantages and Limitations
Perfect Money offers several benefits to binary options traders:
- Supported by leading binary options brokers.
- Features like real-time statements and auto-payments.
- Supports multiple currencies including bitcoin and gold.
- Earning potential on stored funds.
- Robust security measures.
- Worldwide payment possibilities.
- Cost-effective internal transfers.
- 24/7 customer support.
However, some limitations include:
- Potentially high fees for certain transactions.
- Limited to two fiat currencies.
- Unavailability for U.S. traders.
- Expensive wire transfer withdrawals.
- Absence of a sign-up deposit bonus.
Concluding Thoughts on Perfect Money
With its roots tracing back to 2007, Perfect Money has solidified its reputation as a trusted payment solution, especially among binary options brokers. Its mobile application allows users to effortlessly manage multiple currencies effortlessly, ensuring a secure, quick, and hassle-free transaction process.
While some fees can be higher, the platform offers the possibility of recouping some costs via its lending feature.
For those considering binary options trading with Perfect Money, our curated list of compatible brokers can be a helpful starting point.
FAQs
Setting Up a Perfect Money Account: Simply provide your email and personal details for registration. Verification, which can take up to 72 hours, involves submitting valid ID and answering a security call. This step helps users benefit from reduced transfer rates.
Funding Your Perfect Money Account: Users can deposit funds via bank/wire transfers, e-vouchers, or through partner exchange services. It’s also free to transfer bitcoins to Perfect Money.
Binary Options Brokers Supporting Perfect Money: Many leading binary options brokers accept Perfect Money. Some of the prominent ones include Quotex, Pocket Option, and Race Option.
Depositing to a Broker via Perfect Money: While procedures can differ across brokers, the general approach involves choosing Perfect Money as the payment method, specifying the deposit amount, and then finalizing the transaction.
Ensuring Transaction Security: Perfect Money prioritizes user security through various protocols. These include IP monitoring, multi-step authentication, and unique code cards. Furthermore, their credit exchange service allows lenders to vet borrowers based on their ratings, ensuring a safer lending environment.