Below you find a list of the best binary options brokers that allow deposits and withdrawals by Vietcom:
Binary Brokers with Vietcom
About Vietcom
Vietcombank, commonly recognized as the Joint Stock Commercial Bank for Foreign Trade of Vietnam, has been a prominent financial player in Vietnam since 1963. It ascended to prominence after its 2007 IPO, raising a substantial $650 million. By 2009, it found its place in the Ho Chi Minh City Stock Exchange.
Specializing in commercial banking, investment banking, and fund management, Vietcombank now boasts of over 600 branches. Primarily serving Vietnamese clientele, it facilitates international transfers. This makes it particularly alluring for binary options brokers targeting customers in this vicinity.
Neighboring traders, with an interest in Vietnam’s financial offerings, also find Vietcombank appealing.
Features of Vietcombank Binary Brokers
- Transaction Times: While Vietcombank operates around the clock, transfers aren’t instantaneous. Brokers might vary in their processing times. Some, like Alpari, are swift with deposits but take up to 24 hours for withdrawals.
- Pricing Dynamics: As a traditional bank, Vietcombank’s international transfer fees tend to surpass those of platforms like PayPal. Brokers might either absorb this fee or reflect it in their own charges to traders. There’s a spectrum of charges based on the nature and size of the transaction, both domestically and internationally.
- Safety Measures: Security stands out with Vietcombank. They received the Champion Security Award by Visa in 2019. Their commitment is further exemplified by the 2021 upgrade of their 3D secure feature. Account setup mandates full legal name verification, and transactions necessitate mobile phone verification.
Pros:
- Robust Security: Vietcombank offers unparalleled security for binary options transactions.
- Seamless Onboarding: Setting up an account is straightforward.
- Efficient Customer Service: Available round the clock, they ensure customer concerns are promptly addressed.
- Transaction Tracking: Real-time monitoring of your transactions is facilitated by their mobile application.
Cons:
- Delayed Transactions: While deposits might be processed within a day, alternative methods offer instant transactions.
- Transfer Caps: Monthly transfer limits stand at 100,000,000 VND.
- Potential Transfer Costs: Depending on your broker, transfer fees might affect your profitability.
- Geographical Limitations: Best suited for traders in Asia already banking with Vietcombank.
How to Execute Transactions with Binary Options Brokers via Vietcombank:
- Deposits: Before proceeding, ensure your broker accepts Vietcombank. When you’re set, go to the cashier section, opt for ‘deposit’, input the desired amount and your banking credentials. Transaction verification might require a mobile code.
- Withdrawals: Navigate to ‘withdraw’ in the cashier section and follow the instructions. Withdrawals can be made in various currencies, but matching the broker’s currency is recommended to bypass fees.
Summary
For binary options traders in Vietnam, Vietcombank stands out with its security and service quality. Yet, its potential fees, regional restrictions, and non-instantaneous deposits require consideration. To explore viable Vietcombank binary brokers, refer to our curated 2023 list.