Google Pay Binary Options Brokers

Google Pay offers a fast and flexible payment gateway for binary options traders. Google’s secure, private wallet can be used to store payment cards and facilitates deposits to merchant partners, including binary options brokers that accept Google Pay deposits.

We evaluate Google Pay as a funding method for binary options trading. We explore its speed, fee structure and security as well as its level of integration amongst binary options trading platforms. Below, we also list the top Google Pay binary options brokers. We confirmed each provider accepts Google Pay by verifying it in respective client cabinets or speaking to a customer support agent.

About Google Pay

Google Wallet was originally launched in 2011, then Android Pay launched later in 2015, and Google Pay became the umbrella brand in 2018, but in 2022 Google, brought back the Google Wallet app name, while Google Pay remains the payment service/acceptance brand.

Importantly, Google Pay is the payment method you’ll see in the cashier portal in binary brokers. On Android devices, your cards are stored in Google Wallet, and you choose a card from there when paying.

Google Pay is supported by some of the world’s leading banks. However, whilst its integration with financial institutions is widespread, it is not yet offered by all binary options brokers.

How Google Wallet Works

Google Wallet is an electronic wallet application that facilitates quick access to funds, passes and information stored on the app. Users can make purchases online, via apps, and in-store. The application can be downloaded free of charge onto Android devices.

Binary options brokers that accept Google Pay deposits, utilize it in the same way as other digital wallets. Traders simply need to log in to their trading account, navigate to the ‘Deposits and Withdrawals’ tab, follow the prompts and select the Google icon as their preferred payment method.

To set up a Google Pay account, users will require an email address and device lock/authentication and card/bank verification. Payment cards can then be added so that transactions can be viewed and managed directly through the app.

Binary options brokers that accept Google Pay deposits may have their own minimum and maximum payment requirements.

Transaction Times

Google Pay offers fast deposits, while withdrawals are typically returned to the original card used, subject to the broker’s processing times.

Note, public holidays and out-of-hours transactions may require additional time. Also, some Google Pay binary brokers may need to verify a trader’s identity before processing withdrawals. This is in line with KYC and AML requirements.

Pricing Review

Google Pay is free to download from the Google Play Store.

Payments made via debit card do not carry a charge. However, the merchant may be charged for authorizing a credit card transaction. This could be passed back to the binary options trader.

Some binary options brokers or third parties may charge an additional handling fee or processing commission.

Security

Through the APK (Android Application Package) Google employs several security measures to ensure the safety of client funds.

An email address and a phone number must be supplied at setup. Throughout the user journey, clients will be required to verify their identity. This is carried out through the use of passcodes, fingerprint technology and pin numbers.

Cards added to Google Pay are given a virtual card number in some countries (via encryption) which ensures your card details are not shared with merchants, including binary options brokers that accept Google Pay deposits.

Deposit Authorization

To authorize a deposit through Google Pay, binary options traders will need to log in. To do so, users will need to verify their identity through a 4 or 6-digit pin, password, pattern, fingerprint, or face ID. Failure to do so will result in an error message.

Once verified, deposits to binary options brokerage accounts can be authorized at the click of a button.

Emergencies

In the event of an emergency, users can remotely freeze or wipe their devices through the Find Hub/Find My Device settings.

Customers can also check for any fraudulent activity by reviewing transaction receipts and payment details under Payment History and are encouraged to report any suspicious activity.

For any issues, questions or concerns regarding the functionality of Google Pay, the team have an extensive FAQ page available on the Google Play store. Alternatively, get in touch with the customer care team via a toll-free helpline number or email.

Binary options traders can also contact their broker’s support team if they experience deposit or withdrawal issues. The best Google Pay binary options brokers offer 24/5 support via live chat, social media, or a contact number.

Regulation

Google Pay/Wallet is provided through different regulated Google payments entities depending on jurisdiction. You can verify licenses from several key countries:

• United States: Google Payment Corp. — Money Transmitter Licenses (official Google Help)
• EEA: Central Bank of Ireland register — Google Payment Ireland Limited (Ref C178423)
• EU cross-check: De Nederlandsche Bank public register — Google Payment Ireland Limited (Relation no. R161672)
• Singapore: MAS Financial Institutions Directory — Google Payment Singapore Pte. Ltd. (Payments sector listing)
• Australia: Google Payment Australia Pty Ltd — states AFS Licence No. 318755 (official Google legal document)
• Australia: ASIC Professional Registers search — verify an AFS licence number

Note that just because Google Pay and its related services may be regulated, this does not mean your binary broker is also authorized by these bodies.

Pros Of Using Google Pay For Binary Trading

• A growing list of binary options brokers accept Google Pay deposits
• Supported by most large international banks
• Free deposits at most binary options brokers
• Available on Android and Google devices
• Fast, secure and flexible payments
• No fees for debit card transactions

Cons Of Using Google Pay For Binary Trading

• Primarily supported on Android with iOS availability limited by country.
• Less widely accepted by binary options brokers vs PayPal and bank cards

How To Make Deposits & Withdrawals To Binary Options Accounts

Deposits and withdrawals can be made to Google Pay binary options brokers in a few simple steps:

1. Add funds to your card: Google Wallet connects directly to your chosen credit or debit card. To fund your binary options trading account, the card/account will need to be in credit.
2. Select Google Pay: Navigate to the payments area of your broker’s dashboard and select ‘Deposits’ or similar. Then choose Google Pay from the list of accepted methods and enter the deposit amount.
3. Choose a card: Select the card you would like to make a payment from and use touch ID or face ID to confirm the transfer.
4. Check deposit status: Check your trading account balance to make sure the funds have been received. The top Google Pay binary brokers offer near-instant processing.

To make a withdrawal to your Google Wallet, visit the binary broker’s website or client portal and follow the prompts to the ‘Withdrawals’ area. Follow the on-screen instructions to request the payment.

Note, withdrawals generally go back to the original funding source (card/bank) per most brokers’ rules.

Bottom Line

Trusted by millions around the world, Google offers a straightforward way to fund binary options trading accounts from mobile or tablet devices. Fees are generally low and processing times are quick.

However, whilst its integration with businesses in general is good, the number of binary options brokers that accept Google Pay deposits is relatively limited. Fortunately, we expect this to change as a growing number of investors trade binaries from their mobile devices.

FAQ