Credit Card Binary Options Brokers

Credit cards are among the most widely used payment methods in the world, and they have become popular with binary traders, despite their risks. Many binary options brokers accept credit cards as a means of depositing money into trading accounts, giving investors security, speed, and accessibility.

This guide will go over how credit cards work, their benefits and drawbacks for online trading, as well as how to use them with your binary trading platform. We have also compiled a list of the top binary options brokers that accept credit card deposits. We made sure each binary platform allows credit cards by confirming in their client areas or checking with customer support.

Binary Brokers with Credit Card

List of Binary Options Brokers that Accept Credit Card

	Broker		Min Deposit	Expiry Times
	IQCent		$250	5 seconds - 1 month	» Visit
	Videforex		$250	5 seconds - 1 month	» Visit
	RaceOption		$200	5 seconds - 30 days	» Visit
	AZAforex		$1	30 seconds - 1 day	» Visit
	Binarium		$5	60 seconds - 3 months	» Visit
	Dukascopy		$100	3 minutes - 1 day	» Visit
	BinaryCent		$250	5 seconds - 30 days	» Visit
	World Forex		$1	1 minute - 7 days	» Visit
	Pocket Option		$5	3 seconds - 1 month
	Deriv		$5	15 seconds - 365 days
	Quotex		$10	5 seconds - 4 hours
	IQ Option		$10	60 seconds - 1 month
	OlympTrade		$10	5 seconds - 23 hours
	GC Option		$10	1 minute - 48 hours
	Binomo		$10	1 minute - 60 minutes

Best Binary Options Brokers

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How Credit Card Payment Works

The first iteration of the modern credit card hit the scene in the USA in the 1950s. It was introduced in the US in the early 1950s by Diners Club (founded by Frank McNamara and Ralph Schneider, among others) and became one of the first widely accepted general-purpose charge cards.

From here, American Express launched a widely used charge card in 1958, while the ability to carry a balance month-to-month (‘revolving credit’) became mainstream with bank-issued cards such as BankAmericard, which was also introduced in 1958.

Credit cards essentially allow you to spend money up to a pre-set limit. Users are provided with a bill every month listing what they have spent, and they are expected to pay at least part of this back at the end of the month.

There is usually a minimum amount per month that must be paid back onto the card once the bill is received. This is set by the card provider.

When it comes to binary options trading, credit cards are a popular way to transfer money into a brokerage account, and many traders choose credit card funding over anything else due to its security and speed. Money can be processed electronically in this way, depending on issuer, network, country and the broker’s card processor.

The top credit card binary options brokers accept the most common card providers Mastercard, Visa, and American Express, but some newer companies are also becoming more popular.

Transaction Times

In terms of transaction times, a credit card is one of the fastest payment methods that you can use to deposit into your binary options trading account. This prevents investors from missing out on trades before the market moves.

Moreover, many card issuers also provide a virtual card which interacts with trading apps and platforms and allows users to make purchases with a few mouse clicks, making transactions even faster.

Using a credit card often facilitates almost immediate deposits with binary brokers, however, this depends on whether or not the trading platform supports instant deposits.

Withdrawal times vary from broker to broker. Typically, withdrawals using credit cards are not going to be as fast as depositing funds, and most leading binary options brokers state that withdrawals will take several working days.

Pricing Review

When you use a credit card for binary options trading, it’s important that you try to lower your expenses and increase your profits,
because using a credit card can increase your costs if you carry a balance or if the transaction is treated as cash-like.

Firstly, if you don’t pay your statement balance in full, you’ll usually be charged interest (APR) on the remaining balance. Depending on your issuer and how the deposit is classified (for example, as a ‘cash advance’ or ‘cash-like’ transaction), you may also have to pay an upfront fee and interest may start accruing immediately.

This means that if you make a credit card deposit to your binary options account and do not pay it back in time, it could cost you a lot of money. For this reason, using an interest-free or low-interest card is best, as it allows you to use the card for a certain amount of time and pay either no interest or a very low amount of interest on what you spend.

Some cards also charge an annual fee (sometimes known as a membership fee), which is set by the issuer and disclosed in the card’s terms and conditions. These fees are more common on premium cards with rewards or higher limits. To avoid such fees, you can opt for a free card that is likely to have lower credit limits and fewer rewards.

Typically, binary options brokers that accept credit cards do not charge for deposits and withdrawals, which is a bonus, but this is not always the case, and some brokers charge transfer fees.

Security

Over the years, there have been huge advances in the security of using credit cards. Some of the biggest card providers such as Visa have introduced new security systems that protect clients against identity theft and fraud.

However, this has not had a negative effect on the experience of binary options traders. With that said, there is always a risk when trading binary options, and borrowing funds from a card company makes this even riskier.

Regulation

Credit card regulation applies to card issuers, card networks, and payment processors/acquirers as part of the card payment system. However, it does not mean the binary options broker you deposit to is regulated in your country.

Key regulatory and standards references for credit card payments include:

• PCI DSS (global) – the Payment Card Industry Data Security Standard is designed to protect payment account (cardholder) data (PCI SSC overview).
• US (billing disputes) – consumers have dispute/billing error rights under the Fair Credit Billing Act (see also CFPB guidance: disputing a charge).
• EU/EEA (payment authentication) – many online card payments use EMV 3-D Secure programs such as Visa Secure and Mastercard Identity Check, which can support Strong Customer Authentication requirements in Europe.
• UK (consumer credit & card purchases) – credit card issuing and consumer credit activities are regulated in the UK, and certain card purchases may have “Section 75” protections under the Consumer Credit Act 1974 (s.75).

Pros Of Using Credit Cards For Binary Trading

• Widely Used: A significant benefit of using credit cards for trading deposits is that they are accepted by most binary brokers we’ve tested. That means you aren’t going to have any trouble finding a broker that meets your trading needs while also being able to use your payment method of choice. The most commonly accepted cards are the major international operators such as Visa and Mastercard, but you will also find that some binary options brokers accept other credit cards.
• Security: Credit cards are one of the most secure payment methods that you can use for binary trading. This is because transactions are checked and assessed carefully. Credit card companies are under a legal obligation to comply with many guidelines and regulations determined by the country they are located in. There is also the credit card security standard called PCI DSS, which helps reduce the risk of card data compromise.
• Speed: Credit cards are one of the fastest ways to make transactions to your binary trading account. Funds can be deposited to your brokerage account, often within minutes, and you can begin trading right away.
• Rewards: When looking for a card issuer, make an effort to find the provider that offers the best rewards so that you can make the most of your experience. Rewards come in the form of zero/low interest, promotions on items, or cashback.

Cons Of Using Credit Cards For Binary Trading

• Interest Charges: The interest on credit card use is the main disadvantage of using this method for trading binary options. A substantial monthly interest charge could cut deeply into your trading profits. Even if you make money from a trade, you will still have to pay the interest rate from using a credit card to make the deposit, and this sometimes cancels out a proportion of your potential earnings.
• Poor Exchange Rate: Credit card companies also use their own exchange rates for cross-currency transactions, and these are often worse than the market rate. This is a problem that can be solved, but it does mean that you should fund your binary options trading account with the same currency as your card uses, otherwise it could have an impact on your profits.
• Borrowed Funds: When trading binary options with borrowed money, it can be easy to fall into the pattern of risking large sums because the funds have not come from your own savings. If this becomes the case, and you lose money through trading, then you could quickly find yourself in credit card debt that is difficult to get out of. We always recommend trading responsibly.
• Credit Score: It’s important to remember that the way you use your card will affect your credit score. If you incur debt due to binary options trading and fail to repay it, it could decrease your credit rating score, negatively affecting your eligibility for credit cards, loans, and mortgages in the future. It is important to trade binary options responsibly when using a credit card to avoid excessive debt and to keep your credit score intact.

How To Make Credit Card Deposits & Withdrawals To Binary Platforms

Many credit card binary options brokers make it easy to load online investing accounts:

Depositing Funds

To deposit funds to your binary options broker, log into your account and find the ‘cashier’ or similar section where users deposit funds. From there, you will be brought to a menu that will ask for the currency you wish to deposit funds in and the amount you would like to deposit.

Note that many credit card binary brokers have a minimum payment amount that must be entered in order to trade, so it is important to find this out before opening your account. Large minimum deposits could be risky when you are using credit card funds, as you want to make sure you can make the money back.

Next, select credit card as your payment method, and you will be asked to enter your name, card number, expiry date, and CVV code. Once you have confirmed these details, the credit card binary options broker will begin processing your deposit. If you are using an instant deposit broker then you should see the funds in your trading account within a few minutes.

If for any reason your deposit is not accepted, then the binary broker should notify you of this and no money will be taken from your account.

It is also important to check that the binary options broker accepts your type of card before opening your account. Most binary options brokers accept Visa and Mastercard, but this can vary among trading platforms. This information can typically be found on the broker’s website with the rest of their deposit and withdrawal information. Though we recommend confirming with support as we’ve had many instances where the payment methods actually available when you’re in the cashier portal differ from outdated information on brokers’ websites.

The card you are using must be in your name, as it needs to match the name of the account holder – otherwise, the payment will be rejected.

Withdrawing Funds

Many binary options brokers that accept credit cards only allow the withdrawal of funds using the same payment method as was used to deposit with them. This means that if you deposited funds using a credit card, it will often be the case that you can only withdraw to the same card.

This also means that if you deposited money using another means, such as an e-wallet application, you probably won’t be able to withdraw funds to your credit card. The amount you withdraw to your card may also be limited to the amount that you deposited using that card, so if you used multiple methods of deposit, you may not be able to withdraw all of your funds using your credit card.

Some binary options brokers do not allow the withdrawal of funds to a credit card at all, so this is also something to check before you open a trading account.

Withdrawing funds to your credit card from your binary options account is a similar process to making deposits, and just as simple. Once you have navigated to your broker’s ‘withdraw funds’ page, select the account you wish to withdraw from and input the amount you would like to claim. Because you already set up your payment type when you made your deposit, the withdrawal process should be straightforward.

Bottom Line

Credit cards are a high-risk but attractive payment option for binary options traders due to their widespread usage as well as their speed and security. If you are new to trading using credit cards, it is important to keep the risks in mind as well as the potential for high fees that can eat into profits.

It is also important to do research into the binary options broker you are considering trading with and find out if they support the type of card you use, as well as their policy on card withdrawals and instant deposits.

Check out our list of binary options brokers that accept credit cards to get started.

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