Digital Payment Options in Online Trading

Due to a rise in online trading, it is evident that the demands for alternate deposit/withdrawal options have rapidly increased. Previously, the most popular method used by forex brokers was through bank wire transfer and debit/credit cards.

As the popularity of forex trading has expanded we have seen a direct correlation to a rise in forex brokers. Every broker is working to gain the extra edge over their competitors. This has resulted in improved spreads, better trading conditions, and more transparency from the brokers.

“The forex market offers a unique opportunity for brokers to diversify their clients from around the globe.”

The evolution of the forex market is still in its infancy. As we know the lifetime of any business is its customers. The forex market offers a unique opportunity for brokers to diversify their clients from around the globe. It also allows for those same clients to open their trading accounts with any broker they feel meets their requirements. This option creates a very competitive environment between brokers.

While the demand for online money transfers has risen, the numbers of fraud cases associated with this have increased as well. The majority of forex market customers are not completely comfortable using e-wallets, as many of them have witnessed the havoc that resulted from Liberty Reserves closing without notice.

As the rules and regulations to operate any online money transferring business have become stricter, we have seen the number of clients using e-wallets again increase.

Listed below are some safe and reliable money transferring options:

  1. Skrill (also known as Moneybookers): One of the world’s most trusted digital payment options since 2001 that is used by most Forex brokers and their merchant websites worldwide.
  2. Neteller: created in 1999 and has become actively used by most brokers since 2011.
  3. OKPAY and ECOPAYZ: both used in hundreds of countries and dozens of currencies.

As the use of cryptocurrency such as Bitcoin has increased, it has become evident that an increasing number of people are using it to make online money transfers.

At Tradeview we understand the difficulties that come with transferring money between different currency jurisdictions. This is why we put forth our best effort to offer our clients as many online money transferring options as possible.

Ashutosh Gedamkar

Ashutosh Gedamkar
Account Manager India
agedamkar@tvmarkets.com