Below you find a list of the best binary options brokers that allow deposits and withdrawals by Skrill:
Binary Brokers with Skrill
About Skrill
Established in 2001 as Moneybookers, London-based Skrill quickly advanced from being a simple digital wallet to one of Europe’s top three e-payment firms by 2007. Following its rebranding in 2013, Skrill’s journey witnessed ownership changes, most notably its €1.1 billion acquisition by Neteller’s parent company, Optimal Payments, in 2016.
Amidst its growing stature, Skrill extended its services to include an international money transfer system and a cryptocurrency e-wallet in 2018. Now, it is accessible in over 120 countries, providing a versatile platform for binary options traders, thanks to its expansive fiat currency and cryptocurrency support.
Understanding Skrill’s Model
Your Skrill account “level” dictates your fees and accessible services. From starting as a basic Skriller, users can progress to True Skriller upon verification and deposit. Eventually, reaching one of the three VIP levels requires a specific transaction volume within a quarter. Higher tiers offer reduced fees and multi-currency accounts, with the silver VIP level necessitating €15,000 in quarterly transactions.
Funding methods vary, ranging from bank transfers and card payments to online services, each with its unique fee structure. Moreover, Skrill’s cryptocurrency compatibility means you can also utilize your Bitcoin or alternative crypto assets. For European Economic Area residents, a prepaid Mastercard option is available.
Skrill boasts free international transfers, which stands out for traders transferring money to Skrill-supporting binary brokers. Being a reputable entity, Skrill has attracted a vast user base, making it easy to find Skrill-accepting binary options brokers like BinaryCent, Pocket Option, and IQ Option.
Transactions
Skrill guarantees swift transfers. For many affiliated binary options brokers, deposits are instantaneous. However, withdrawals might require longer approval times, sometimes taking a week or more.
A Look at Skrill’s Pricing
While Skrill offers free international transfers, other fees can accumulate based on the transaction type and method:
- Deposit Fees:
- Domestic bank transfer or card: 0%
- Fast Bank Transfer/Rapid Transfer: Up to 1%
- Trustly: Up to 1.25%
- Paysafe cash: Up to 2.5%
- Paysafe card: Up to 5%
- Withdrawal Fees:
- Bank transfer: 0%
- Crypto: 2%
- Neteller: 3.49%
- Visa/Mastercard: Up to 3.99%
- Swift: £4.66 or €5.50
Accounts inactive for over six months will incur a 5-euro monthly charge.
Safety Measures
Skrill’s comprehensive security suite includes SMS authentication codes for transactions, two-factor authentication, and standard anti-phishing protocols. Customer support can assist in disputes with registered merchants, ensuring safety in transactions with Skrill-supporting binary options brokers.
Skrill for Binary Options Traders: Pros and Cons
Advantages:
- Competitive currency conversion rates.
- Broad acceptance among binary brokers.
- Majority of funding methods are cost-effective.
- Extensive currency and cryptocurrency access.
- Instant deposits with partnered Skrill binary options brokers.
- Robust security protocols.
Disadvantages:
- Currency conversion charges for non-euro transactions.
- Some funding methods can be pricey.
- Absence of reward bonuses.
- Monthly charges for inactive accounts.
- VIP features require high transaction volumes.
- Direct card payments may be simpler than locating Skrill-accepting binary options brokers.
Depositing & Withdrawing with Skrill
Depositing with Skrill-affiliated binary options brokers is straightforward: head to the finance section, input the desired amount, and select any available bonuses. Choose Skrill, log in, and the funds should promptly reflect in your account. Withdrawals follow a similar procedure.
Final Thoughts on Skrill for Binary Options Trading
As a secure, affordable, and swift payment option, Skrill is a boon for binary options traders. Its comprehensive service palette, ranging from fiat and cryptocurrency support to international transfers, makes it a preferred choice for many. With its widespread adoption, locating Skrill-accepting binary options brokers is simpler than ever.
FAQs
Is Skrill a Suitable Deposit Method for Binary Options Traders?
Yes, Skrill’s blend of security, affordability, and speed makes it a viable choice for binary options traders.
How Do I Use Skrill for Binary Options Trading?
Ensure your Skrill account is funded and select Skrill as your payment method on your broker’s page. Follow the on-screen prompts to deposit or withdraw.
Is Skrill Cost-Effective?
While Skrill can be economical, traders should factor in potential fees, depending on their chosen transaction methods.
Is Skrill Secure for Depositing Funds with Binary Options Brokers?
Yes, as long as you’re dealing with a recognized broker affiliated with Skrill. Always verify transaction recipients to ensure safety.
Is Skrill the Prime Deposit Method for Traders?
The “best” method varies for each trader. Skrill does offer competitive rates, often surpassing other platforms like PayPal. Ensure your broker supports Skrill before committing.