When choosing binary options brokers, one of the primary factors that should be borne in mind is the variety and reliability of the deposit and withdrawal methods on offer to clients. All investors have different preferences when it comes to placing funds into their trading account and taking out any profits that they may have earned, with some people preferring traditional options such as bank wire transfers and credit cards, and others opting for the more modern and speedy e-Wallet methods. Ukash is just one of the deposit and withdrawal options offered by many of the biggest and best binary options brokers today and it is a popular choice among those who value anonymity and security.
What Is Ukash?
This payment service is based in the UK and allows its users to exchange money in return for a PIN number. Similar to the European PaySafeCard, this system enables its users to make online payments using their own PIN number in order to load a debit card, e-Wallet or transfer funds. As the system requires a PIN to be entered in order to transfer money, no credit card or bank account details need to be entered into a webpage and this ensures that users have a higher level of protection from identity fraud.
How Does The Payment System Work?
When customers buy e-Money from this provider, they are issued with a PIN number with 19 digits representing the total of their prepaid funds. This PIN can then be used to make a payment or to transfer money at one of the 420,000 outlets which participate in the scheme in over 55 countries worldwide. It can also be used to pay funds into other e-Wallets like PayPal, Neteller and Skrill.
Why Choose This Payment Method?
One of the greatest advantages of this payment system when trading is its reliability and anonymity. Due to the requirement to enter a PIN number, users' own personal and financial details remain private and therefore, when dealing with a genuine participating merchant, users can avoid the financial scams and problems with identity fraud that they may be exposed to when paying with other methods like credit cards. It is therefore easy to see why this payment method is becoming increasingly popular among traders and is more commonly found as a banking method when registering with the top binary options brokers in the industry.