- Binary Brokers with QIWI
- How QIWI Works
- Transaction Times
- Pricing Review
- Pros Of QIWI Binary Options Brokers
- Cons Of QIWI Binary Options Brokers
- How To Make QIWI Deposits & Withdrawals To Binary Options Accounts
- Verdict On QIWI Binary Options Brokers
- Is QIWI Good For Binary Options Trading?
- How Do I Open A QIWI Wallet To Start Binary Options Trading?
- Is QIWI Legit For Binary Options Trading?
- Is QIWI Wallet Available For Binary Options Trading In The UK?
QIWI offers a low-cost way to finance binary options trading activity. The Russian-based e-wallet is popular in its native country and across Europe. This guide explains how to make deposits to QIWI binary options brokers and lists payment fees, pros, cons, and any security concerns.
We have also ranked the best binary options brokers that accept QIWI deposits and withdrawals in 2023.
Binary Brokers with QIWI
How QIWI Works
QIWI is an electronic payment method primarily used in Russia and European nations. The service is offered as an e-wallet that holds the user’s existing debit and credit cards, as well as specifically issued QIWI cards.
The firm was created in 2007 and is based in Nicosia, Cyprus alongside a base in Moscow, Russia. The payment solution was first used for push transactions at Russian checkouts, but expanded worldwide when the brand released its Visa card.
QIWI created 106,000 self-service payment systems in Russia that enable users to deposit and withdraw money from their cards.
These systems work just like ATMs, and also offer top-up options for everyday amenities such as mobile phones, gas, internet, and more.
Money can also be deposited and moved online via digital wallets, credit and debit cards, phone transfers, and wire transfers. This has made it popular with binary options brokers and traders.
At present, the company has 29 million customers in Russia and takes in more than 128 billion rubles. The firm is linked to a large range of merchants and providers, including leading QIWI binary options brokers like Pocket Option and Binarium.
The brand also offers a mobile application that enables binary options traders to conduct transactions directly from their QIWI wallet using mobile devices such as iPhones, iPads, tablets, and Android.
QIWI is one of the fastest payment methods offered by binary options brokers, with instant deposits normally available. This is particularly useful for those trading short-term binary options. Both Pocket Option and AZA Forex offer immediate payments with QIWI.
However, not all binary options brokers that accept QIWI support instant withdrawals. This is primarily due to know your customer checks. Binary options traders should expect to wait up to five days to receive profits.
It is free to open a QIWI account, and it is also free to transfer money in most cases. Pocket Option, AZA Forex, and Binarium all offer free account funding with the payment solution.
Withdrawal fees vary between QIWI binary brokers. The top brands like Pocket Option offer free withdrawals but some firms charge a fixed commission or a percentage of the payment amount.
It’s also worth noting that payments made in a different currency to the trader’s account currency may incur a foreign exchange charge.
A 3D Secure personal identity verification check is performed by QIWI when you make a payment. Once your identity has been verified, you will be sent a code by the company to confirm your account and deposit details.
This is an industry-standard safety measure. You will also be redirected to a secure page that will facilitate the transaction, helping to prevent fraud and misuse.
QIWI binary options brokers must also sign up with the payment provider’s transfer system which facilitates integration between the broker’s cashier portal and the payment provider’s internal network.
Doing this directly through QIWI is the only way for a binary options broker to offer this payment method, providing additional peace of mind.
Pros Of QIWI Binary Options Brokers
Benefits of binary options brokers that accept QIWI deposits include:
- Reliable – The company was established in 2007 and has a global customer base. They are also partnered with more than 13,000 entirely separate companies and are traded on the NASDAQ stock exchange.
- Variety of Payment Methods – Traders can choose between using their QIWI Visa bank card, the virtual card in their e-wallet, or their own bank card. This offers maximum flexibility, meaning that traders do not have to have their physical bank card present to deposit or withdraw funds from their binary options account.
- Mobile App – The mobile application is available to Android and Apple users. Using the application, binary options traders can see details of their deposits and withdrawals as well as their balance.
- Fast Transactions – QIWI payments are processed instantly, which is ideal for binary options traders looking to get started and open positions quickly.
Cons Of QIWI Binary Options Brokers
Downsides of trading with QIWI binary brokers include:
- Regional Restrictions – QIWI is currently only available in 20 countries including Russia, the UK, Canada, Australia, Ukraine, Kazakhstan, Moldova, Romania, Belarus, Latvia, Armenia, Jordan, Israel, India, Egypt, Indonesia, and Kenya. If you are not based in one of their supported countries, you will need to use another e-wallet, such as PayPal or Neteller.
- Non-English Website – Since QIWI is a Russian company, most of its website is in Russian and it is not possible to translate all of the content to English via the website. This makes the site less accessible, and users will have to translate it via their browser or a third party should they encounter issues.
- Currency Restrictions – Transactions can only take place in RUB, EUR, and USD, which is sparse versus alternative payment methods and e-wallets. This also means that some binary options brokers that accept QIWI deposits may charge a currency conversion fee.
- Data Leak – In May 2022, QIWI was reportedly hacked and the details of over 12 million credit cards were released. The firm has denied that the hack occurred but users and market commentators still have their concerns.
How To Make QIWI Deposits & Withdrawals To Binary Options Accounts
Deposits and withdrawals can be made in USD, EUR, and RUB. There is a transaction limit of 15000 RUB (which equates to around 250 USD).
Traders can deposit money into their QIWI wallets via online banking systems, credit cards, mobile devices, and ATMs. Once money has been deposited into your e-wallet from another source, the money will be instantly available to deposit into your binary options trading account.
When sending money to binary options brokers that accept QIWI deposits, you will be taken to a verified payment portal where you can enter your account number and password alongside a unique code sent via SMS.
Note, QIWI binary brokers may have deposit limits in place. Pocket Option, for example, has a $50 minimum deposit requirement.
To withdraw money from your binary options trading account using QIWI you have four options: ATM, bank account, bank card, or a money transfer system. Money transfer systems vary between countries. In some jurisdictions, you can transfer money from your QIWI wallet to other e-payment systems.
Cash can also be withdrawn from your bank account through an ATM at many Russian banks that are linked to QIWI wallets, such as Sberbank, Russian Standard bank, VTB24, and Alfa-Bank.
Note, most QIWI binary brokers will not allow you to withdraw more than what you deposited using a given payment method.
Verdict On QIWI Binary Options Brokers
QIWI is a fast, secure, and cost-effective funding method for binary options trading, offering instant deposits and effective protection against fraud. However, this service is primarily designed for use within Russia, so those who trade binary options in that region will benefit the most. Other e-wallets such as PayPal are designed for global use, and therefore will offer more benefits to non-Russian binary options traders.
Head to our list of the best binary options brokers that accept QIWI deposits to get started.
Is QIWI Good For Binary Options Trading?
QIWI is a fast and relatively secure payment method for binary options trading, supported by many reputable brokers across the world. With that said, QIWI has faced several regulatory challenges in recent years plus there are claims that a significant hack left the details of millions of customers vulnerable.
How Do I Open A QIWI Wallet To Start Binary Options Trading?
Register on the company website by entering your phone number and verifying your identity with the code that is sent to you. This will only be possible if you reside in one of QIWI’s supported countries, such as Russia. Once you have opened your account, you can deposit capital which can be used for binary options trading.
Is QIWI Legit For Binary Options Trading?
QIWI is a legitimate payment method. The company makes all of its security and registration information easy to find and transparent via its website. They also take precautions when partnering with QIWI binary brokers to ensure that trader funds are not at risk. Despite this, a 2022 data hack has raised questions over the reliability of the payment provider.