Making a payment with OptionWeb is quick and easy. We explain the various OptionWeb payment options here.
Variations of OptionWeb Payment Options
To open an account with OptionWeb, you do not have to deposit any money. To start trading, however, you need to deposit money. Luckily, making a payment with the OptionWeb payment options is a quick and easy process that can happen instantly – if you do it right.
In general, OptionWeb offers you three payment methods:
- Credit card / debit card,
- Bank transfer,
- Online payment provider.
Each of these three payment methods has its own characteristics, which come with different advantages and disadvantages. Most notably the methods differ in the time it will take for your payment to be booked into your account and the whether you need an extra third party provider to complete the transaction.[table id=37/]
Credit cards and debit cards are the most popular payment method with binary options. They provide two advantages:
- Most people are used to paying for things by credit card and consider credit card to be their natural payment method, and
- Credit card payments are booked to your account immediately. That means, as soon as you complete the transaction, you can immediately use your money to invest.
Both advantages combined clearly show why most people prefer to make their initial payment via credit card. Later in your trading career, when you see a profitable trading opportunity but lack the money in your account to make good use of it, you can use credit card payments to give yourself the quick boost you need to make the most of this opportunity.
In contrast to credit card payments, bank transfers are a much slower payment method. Bank transfers can take up to 5 business days longer than payments via credit card. The advantage of bank transfers, however, is that they do not require you do have an account with a third party provider. For people who either do not want to get a credit card / an account with an online payment provider or can’t get an account with them for other reasons, bank transfer payments are the only way to go.
Payments via online payment providers are also booked to your account immediately. They are generally similar to credit card payments, but use a much less common form of payment. If you already have an account with an online payment provider, you can consider it a good option to deposit money with OptionWeb.