Neteller provide a popular e-wallet option for online transactions. They boast a reputation for security and low fees. For similar reasons, they are also popular in the binary industry. Most binary brokers accept Neteller deposits, and withdrawals. Below is a list of brokers that accept this payment method.
Many brokers adhere to money laundering legislation, which means withdrawals being paid back to same payment method as the original transaction. This is worth keeping in mind if you do want to use an e-wallet to make your initial deposit.
Neteller is an e-wallet system used for online payment processing. It can be found on thousands of websites the world over – including a significant number of binary options broker platforms. It enables you to transfer money to and from online merchants conveniently, quickly and securely.
Now forming a key part of the PaySafe Group plc, Neteller started life in Canada in 1999. The company moved to the Isle of Man in 2004 and therefore operates under the jurisdiction of the UK’s Financial Conduct Authority. It currently has market coverage across over 200 countries.
You are likely to come across the Neteller payment gateway options across many areas of the global online marketplace. Including entertainment (especially online gambling and gaming sites), retail, dating, social networking and, of course, financial services.
Delays in processing payments and crediting your balance can result in missed trading opportunities. So when it comes to topping up your binary options broker account, the ability to do so instantly is crucial. Neteller facilitates instant fund deposits via local or international bank transfer, bank wire, credit and debit card deposits as well as instant local deposits such as IDEAL and Giropay.
If you use more than one trading platform or if you have various online merchant accounts open, it certainly makes life easier if you can use the same payment processor with each account. The fact that so many websites (including a significant number of binary options platforms) use Neteller reduces the chances of you having to juggle multiple e-wallets.
Card options. A Net+ plastic prepaid MasterCard enables you spend funds from your e-wallet balance in the same way you would with any MasterCard. Virtual and gift card options are also available.
There is no fee for transferring funds from within Neteller – i.e. to and from your binary options broker, to and from your Neteller balance.
Commission fees can, however, apply to depositing and withdrawing cash from your balance. Deposits made via local or international bank transfer are free. Charges for other methods vary considerably, (between 1% and 8%, depending on the source).
For withdrawals, a standard money transfer attracts a basic commission of 1.9%, capped at $20. Various fees apply to other withdrawal options. For full details on current charging rates, refer to the Neteller fee overview.
The VIP program includes various discounts on deposits and withdrawals, as well as various other benefits, including lower FX fees and more flexible transaction limits.
Customers have the reassurance of knowing that the company operates within the ambit of FCA e-money regulations. This means that at all times, Neteller must hold sufficient funds to cover all customer balances. The rules also require the company to have adequate measures to reduce the risk of fraud and identity theft.
The firm offer customers the (highly advisable) option of two-step authorisation on their accounts. With this, sign-in attempts are accompanied by an SMS to the user’s smartphone, giving a unique numerical code that must be entered to complete the sign-in.
If you intend to use Neteller for trading, you will need to open an account first of all. Having done this, and to make a deposit with your broker of choice, go to the broker’s platform and navigate to your account details and deposit options section. Having selected Neteller from the various deposit options available, you will then be prompted to provide your Secure ID details.
Having entered the amount you want to deposit, the funds should be credited to your broker account instantly.
Clicking on the ‘Withdrawal’ option should guide you to a prompt for you to confirm your withdrawal option. On confirming the action, the funds should be credited to your e-wallet account. Again, the funds should be almost instantly credited.