Maestro Binary Options Brokers

Maestro is a popular debit card that can be used to fund binary trading accounts. Issued by Mastercard, the brand has a global presence with millions of cards in circulation, although it’s being phased out in some regions like Europe. Still, a simple transaction process, fast payments, and low fees mean there are still binary brokers that accept Maestro deposits in some countries.

This guide will run through the benefits and drawbacks of using Maestro for binary options trading, from fees to payment timelines and limits. We also list the top Maestro binary brokers. Our team have confirmed that each platform below supports Maestro, either by finding it in the deposit area of the client cabinet or by speaking to support staff.

Binary Brokers with Maestro

List of Binary Options Brokers that Accept Maestro

	Broker		Min Deposit	Expiry Times
	AZAforex		$1	30 seconds - 1 day	» Visit
	Dukascopy		$100	3 minutes - 1 day	» Visit
	Deriv		$5	15 seconds - 365 days
	IQ Option		$10	60 seconds - 1 month
	ExpertOption		$10	5 seconds - 24 hours

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What Is Maestro?

Maestro is a debit card that was launched by Mastercard in 1991. The company set up offices across the world. This is in addition to the US network of offices which has its headquarters in Purchase, New York.

The payment card can be used for everyday purchases, from buying a coffee or hotel stays to withdrawing cash and depositing funds to binary options brokers.

Importantly, Maestro is linked directly to a client’s bank account.

Availability update: Maestro started to be phased out in Europe from July 2023 for lost/expired cards – users may now see ‘Debit Mastercard’ instead. So acceptance for ‘Maestro’ at brokers often means ‘Mastercard debit rails’ and can be inconsistent.

Transaction Times

Most binary options brokers that accept Maestro offer instant or near-instant deposits. Fund are usually immediately available in online trading accounts.

Withdrawal times at Maestro binary brokers can vary. This is because most binary options brokerages often verify their clients’ IDs before releasing funds.

Pricing Review

Deposits are usually free at Maestro binary brokers, although firms may have their own charges. Of course, this can vary so make sure you check your broker’s fee schedule before making a transfer.

Typically though, the only charge to use Maestro would come via your card issuer, but most banks waive usage fees for customers.

It is also worth being aware of the minimum transfer limits which binary brokers that accept Maestro may impose on both deposits and withdrawals.

Security

Maestro is a fairly secure way to load funds into binary trading accounts. Mastercard employs a protective measure called 3D secure protocol which helps to authenticate the cardholder is the legitimate user.

Additionally, the two factor-authentication (2FA) can often be used, whereby either an OTP is sent to your phone or you must log in to your bank’s mobile app, and verify the payment amount and destination.

It also involves a system that checks transactions for any suspicious activity. If unusual activity is detected, the cardholder is alerted and has the option to continue with the purchase if it is genuine or cancel the payment.

This alert may arise the first time you make a payment to Maestro binary brokers, but it should quickly start to recognize the trading platform if you make regular deposits.

Regulation

Regulation applies to Maestro/Mastercard as a card scheme (and to your card issuer/payment provider). However, it does not automatically mean the binary options broker you deposit to is licensed or regulated in your country.

Regulatory/oversight references related to the Mastercard/Maestro card scheme include:

• UK (Banking Act 2009 recognition) – Mastercard Europe SA is specified as a “recognised system” under the Banking Act 2009 (Recognition Order (PDF)).
• UK (Legal basis) – Banking Act 2009 provisions on “recognised systems” (legislation reference).
• Netherlands register entry – MasterCard Europe SA listing in the Dutch central bank public register (DNB register).
• Eurosystem card scheme oversight (framework) – Bundesbank overview of Eurosystem oversight frameworks for card payment schemes (Bundesbank: Card payments oversight).

Pros Of Using Maestro For Binary Trading

• Chargeback sometimes available
• Uses 3D-secure protocol for security
• It is usually free to deposit with Maestro binary brokers
• Most binary options brokers that accept Maestro offer near-instant deposits

Cons Of Using Maestro For Binary Trading

• Not all banks issue Maestro cards
• Not available as a credit card – it is a debit card only
• Maestro is being rolled down in some regions like the EU
• The list of binary brokers that accept Maestro is limited versus the number of platforms that accept Visa and Mastercard

How To Make Maestro Deposits & Withdrawals

1. Go to the ‘Finance’ or ‘Funding’ section in the client area of your binary broker’s website
2. Click on either ‘Deposit’ or ‘Withdraw’
3. Select Maestro as the payment method
4. Choose the amount you wish to transfer
5. Input your Maestro account details. For a deposit, this will be the 16-digit code on the front, expiry date, name on the card and the CVV on the back.
6. Confirm the request and complete the authentication process

Bottom Line

Maestro is a reliable and secure method of depositing funds to trading accounts. Many of the binary brokers that accept Maestro debit cards do not charge a fee and make funds immediately available for trading. The only major downside is that the debit card is not as popular as alternatives like Mastercard and Visa.

See our list of the top Maestro binary options brokers to make a deposit and start trading.

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