Choosing Your Preferred Neteller Forex Brokers From The Myriad Of Choices In The Market
Neteller is an e-wallet and online payment option that is slowly but decisively moving into the top echelons of the mainstream Forex trading market. Neteller is among the most popular Forex deposit/withdrawal options in the industry that is being adopted for its similarities with other popular payment options such as PayPal. Neteller has some unique advantages and attractive features in relation to its competition, which does help traders to enjoy a safe and secure trading environment with an alternative payment option.
Neteller’s Gambling History & Introduction To The Forex Markets
Neteller traces its history back to 1999 when it was launched in Canada to cater to the large gambling industry. At one point in time, Neteller contributed to more than 80% of transactions to gaming websites, while the company operated entirely through the gaming industry to earn 95% of its revenue through gambling-related online transactions. The company moved its operations to the Isle of Man in 2004, but the company is now owned and operated by PaySafe Group, the same name that acquired Skrill a couple of years ago. However, regulatory changes and restrictions on gambling transactions led to Neteller pulling out from its US and Canadian markets, resulting in a loss to the tunes of millions of dollars. Neteller also had to freeze its US accounts, and the funds were released to its rightful owners in 2007. Due to the severe repercussions of the company’s withdrawal from the US markets, Neteller witnessed a sharp reduction in its operating revenue, which forced the company to branch out into other markets and cater to a broad audience. As of recent years, Neteller has managed to increase its revenue to close to $100 million, down from the $250 million per year revenue that the company had achieved during its years as a payment processor for gaming websites. Eventually, Neteller started its foray into the financial markets by realizing the enormous need for Forex online payment solutions, which led to one of its best investments in recent times. PaySafe Group, after its acquisition of Skrill, is seen to promote Neteller as a competitor for both Skrill and PayPal and aims to increase its market share to dethrone PayPal from its market leading position. Nowadays, Neteller Forex brokers are becoming hugely popular among retail traders due to the numerous advantages associated with making a payment through Neteller.
Is It Safe To Invest Your Forex Trading Capital In Neteller FX Brokers
The gaming industry has a negative reputation when it comes to the safety of funds and the implications of using a payments processor that has been extensively associated with the gambling industry. The numerous criticisms and turmoil might also play a significant role in ensuring a ensuring a sense of security and confidence among traders, especially when companies that are subject to regulatory oversight are forced into modifying their policies to suit the existing laws of their parent country. Nevertheless, Neteller, under its PaySafe Group Plc ownership, is fully regulated and licensed by the Financial Conduct Authority (FCA) of the UK. Neteller is bound by regulatory laws that require the company to hold its clients’ funds in segregated account. It is vital for Neteller to display evidence of segregation of customer accounts from its own operating capital, which not only prevents the company from misusing its clients’ money, but it also helps Neteller to meet all of its customers’ debit obligations without fail. Therefore, Neteller account holders are free to deposit or withdraw their funds at any time and are offered the opportunity to send their payments to all over the globe to deposit their funds at any of their preferred Neteller FX brokers or other accepted Neteller merchants.
The Cost Of A Neteller Deposit For Forex Trading
Neteller has a similar fee-oriented approach to financial transactions performed through its payment processors, which may involve fees from 0.5% to as high as 9.9% of the transaction amount. Regardless, the average cost of transaction revolves around 3%, which is just the same as the fees involved for transactions performed using a Skrill account. Neteller has a very detailed guide on the cost of transactions that are involved in the different modes of transactions, and as an existing Neteller client, you can browse this information before initiating a payment. Neteller guarantees instant deposit of funds into your trading account, and the company supports different base currencies for accounts as per your preferences. Neteller also offers cash back and loyalty promotion for its existing customers, which is an excellent way of earning rewards and bonuses without any added risk. All bonuses are withdrawal without any restrictions, and account holders are offered full control over their account balances. Neteller does not impose any account restrictions or any minimum/maximum transaction volumes. One of the most significant advantages of choosing a Neteller FX trading account is the flexibility in the choice of the trading capital. Neteller Forex brokers typically allow its traders to start trading from $1, which also involves only a minor transaction fee. In most cases, the broker might choose to absorb the costs incurred for Neteller transactions, which prevents the need for incorporating transaction costs into a Forex payment.
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How To Pick Reliable & Authentic Forex Brokers Accepting Neteller
Making a deposit into your FX trading account is easy with a Neteller account, but you have to be extremely cautious while choosing a Forex trading partner. A Forex broker is an integral link between you and your markets, and you are actually investing your money and your efforts into trading the markets for a consistently successful trading career. Regardless of your trading strategy’s profit potential or your trading account’s equity, your FX broker should be willing to process your withdrawals without asking any questions. In a perfect world, Forex brokers should process your payments without any restrictions. However, in the real world, there isn’t any perfect scenario, as brokers are known to indulge in scams and fraudulent activities to trick traders and run away with their money. Therefore, it is essential for a trader to partner up with a regulated and licensed Forex trading company, as Neteller does not guarantee the authentic, nor the reliability of a company. There are currently more than 280 authorized Forex brokers accepting Neteller from the official Neteller list of merchants, but there are tons of other FX brokers that also accept Neteller deposit for Forex trading. Neteller might be unable to offer individualized support in relation to the choice of a Forex broker, as each independent merchant is responsible for their own procedural policies. Neteller deals with millions of account holders from all over the world that transacts billions of dollars annually, which makes it difficult for Neteller to concentrate on any individual transaction or broker abuse. Therefore, it is up to the trader to ensure that they are proactive in their efforts to choose a trustworthy and reliable Neteller FX broker to ensure the long-term sustainability of their trading capital. Feel free to refer our comprehensive list of recommended Forex brokers that accept Neteller for both deposits and withdrawals.
Receiving A Bonus From Neteller Forex Brokers
Some Forex brokers may offer bonuses on deposits, while Neteller also works with certain merchants to offer promotions and other seasonal offers for clients that wish to deposit to a Forex account through Neteller. Most regulated Forex brokers rarely offer any huge bonuses to its clients due to the relevant regulatory guidelines, while there are a few Forex brokers that can provide an attractive bonus to rope in new clients. Even though bonuses are highly useful in trading, always read through a broker’s bonus policies and conditions before accepting a bonus. Neteller allows its traders to indulge in any kind of online transactions, as long as it satisfies all the existing laws related to anti-money laundering and counter-terrorism. Neteller also requires its account holders to verify their accounts to eradicate scam practices, but Neteller does keep its user information safe and secure from prying eyes. Forex brokers are also increasingly choosing Neteller as an additional payment option to supplement existing payment modes such as wire transfers and credit card payments. Choosing Neteller as your preferred payment option is certainly guaranteed to offer a comfortable and secure form of payment for your FX trading accounts.