The Neteller system is an online payment service that has low fees and offers premium security. It also has an instant payment feature which is extremely popular. It is available all over the world, but has grown considerably in Europe. The system allows direct interaction with your credit cards, which makes it easy and convenient to use. A Neteller Forex broker is a forex professional who utilizes the system to facilitate transactions using Neteller e-wallet. With the system, a forex broker can do both deposits and withdrawals; which is why it is the one-stop shop that you need to get all of your forex transactions done quickly and efficiently. You can store money on your account for as long as you like and then make instant transactions to or from your credit card.
WHAT MAKES NETELLER POPULAR AMONG FOREX TRADERS?
Neteller has made quite a name for itself, in the world of forex. There are quite a number of features that make it stand out from the competition, which includes the following:
1. UNIVERSALLY ACCEPTABLE:
It is an international payment system which is used by residents of more than 200 countries.
2. ELEMENTAL VERIFICATION PROCESS:
The process itself generally only needs just one ID document scan.
3. VERIFICATION NOT REQUIRED IMMEDIATELY:
Verification is only required when a withdrawal is requested.
4. NO PAYMENT FOR SENDING AND RECEIVING MONEY:
It is the forex brokers that have to pay the charges.
5. REDEEMABLE REWARDS POINTS:
Points can be earned every time a deposit or withdrawal is made, which can then be redeemed for cash. There are also a number of exclusive promotions.
ADVANTAGES OF CHOOSING NETELLER
The wide range of funding options helps the users to make payments by any means, which is a huge advantage for people who have issues with their credit cards, or if they are unable to initiate wire transfers for any reason. In forex trading, adding up accounts becomes imminent during high-volatile sessions due to margin calls, and it will be disastrous for a trader if he/she is not able to fund his account on time. Accordingly, it offers an excellent option for funding an account through multiple means.
DISADVANTAGES OF CHOOSING NETELLER
The transaction costs are usually higher than the costs acquired on other e-wallets, as transactions cost an average of 5percent, with credit card transactions costing between 1 to 4.9pecent, when compared to other e-wallets, the fees are significantly higher, especially when one considers the costs associated with large payments. Deposit options are vast, but the withdrawal options are very limited. The high cost of making deposits and withdrawals often put a lot of forex traders off.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.