Below you find a list of the best binary options brokers that allow deposits and withdrawals by POLi:
Binary Brokers with POLi
About POLi
Established in 2006 as CentriCom, POLi Payments Pty Ltd is headquartered in Melbourne, Australia. In 2014, mobile payment gateway SecurePay acquired the online platform. Limited to Australia and New Zealand, POLi works with banks that permit transactions to international binary options brokers that cater to customers from these regions. Major financial institutions like Western Union, Commonwealth Bank, Westpac, and Citibank support POLi.
Binary options brokers accepting POLi typically employ an API to integrate the payment solution seamlessly, letting traders securely deposit and withdraw funds directly on the broker’s platform, bypassing the need for a credit card.
POLi’s Innovative Payment Method – PayID
PayID, under POLi’s umbrella, facilitates swift payments using an email ID generated by the system. While an account is necessary for PayID, traders using POLi’s core service can deposit funds without registering with POLi, connecting directly to their bank.
Transaction Dynamics
Deposits via POLi are almost instantaneous, as both the broker and POLi support real-time transfers. Withdrawal times, however, can range from 1-5 days due to varying policies of brokers or banks.
Cost Structure
Most POLi-compatible binary options brokers waive deposit fees. Notably, while POLi suggests brokers abstain from levying additional charges, using Neteller incurs a 2.5% fee.
Security Assurance
Adhering to stringent standards, POLi boasts certifications like ISO27001 and ASIO T4. Security protocols include HTTPS communication, no storage of sensitive information, and absence of transaction caching. Historical concerns from New Zealand banks like ASB, ANZ, and BNZ around 2012 have been addressed, with recent feedback about POLi being largely positive.
Pros:
- Usually no fees for POLi payments.
- No registration required.
- Eliminates the need for card details.
- Supports multiple currencies.
- Immediate deposits.
Cons:
- Base currency is AUD, potentially leading to higher conversion fees.
- Restricted to Australia and New Zealand.
- Limited bank partnerships.
- Past security concerns might deter some users.
How To Transact
Deposits: Choose POLi when depositing on the broker’s platform, select your bank, and follow the guidelines. Withdrawals: Navigate to the broker’s withdrawal section and follow the steps. Withdrawals typically process within 5 business days.
Conclusion
For traders in Australia and New Zealand, POLi emerges as a convenient method to manage their binary options accounts. Despite earlier security challenges, POLi has solidified its trustworthiness, making it an attractive choice for those who prioritize speed, cost-efficiency, and security.
FAQs:
- Is POLi Secure? POLi prioritizes user safety. However, traders must be cautious about their broker’s credibility. Beware of phishing attempts and enable two-factor authentication when possible.
- Which Brokers Accept POLi? Several, including InstaForex, High Low, and BinaryCent.
- Offline POLi Transactions? POLi requires an online connection and doesn’t support offline transactions.
- Do I Need a POLi Account? For standard transactions, just an associated bank account suffices. A POLi account is needed for PayID.
- International Transactions with POLi? Yes, but be mindful of currency conversion fees as transactions are primarily in AUD.