Liberty Reserve is a popular payment processor based in Costa Rica and founded in 2006. It has millions of users worldwide. Liberty Reserve is popular among non US traders. It accepts members from third world countries such as Russia, Africa, and Asia. Liberty Reserve supports many currencies so you can conveniently convert your earnings into your local currency. Liberty Reserve was shut downdue to money laundering in May 2013. It is not known when it will resume back its operation.
Binary Options Brokers that Accept Liberty Reserve
OptionFair is a leading broker based in British Virgin Islands and founded in 2010. OptionFair offers an impressive trading platform that is powered by advanced algorithm. It is a fully regulated broker by CySEC. It offers a welcome bonus of 30%. They will also refund you 15% of your initial investment if it expire out of the money.
WinOptions is a broker headquatered in Cyprus and founded in the year of 2008. They offer a high welcome bonus of up to 60% for your initial deposit. They offer a variety of advanced trading tools and the latest market news. It has a low minimum deposit and trade size requirement. WinOptions accept US traders.
BancdeBinary is a leading broker with more than 100 years in the market. They offer many deposit and withdrawal options such as Liberty Reserve, credit/debit cards, and bank wire. They always pay the traders punctually without any delay.
Binary Options Brokers that Don’t Accept Liberty Reserve
TradeRush is a Cyprus based broker that offers competitive returns for traders. TradeRush was founded in 2011. Ever since their establishment, they have been making improvements after listening to customers’ feedbacks. They offer many useful trading tools through the SpotOption platform. They do not accept USA traders. Their customer support is above the average level.
AnyOption is a professional broker founded in the February of 2009. They try to keep things simple for customers by offering a simple user interface on their website. Anyoption is a great trader for beginner traders. They offer free signals for traders through their fully customizable auto trading robot.
StockPair is a binary options broker that operate under a company called Nextrade Worldwide Ltd. It is IFSC regulated with the license number IFSC/60/346/TS/14. StockPair specialized in pair trading. They introduced the KIKO options which does not have expiry time. StockPair recently received two FBO awards including Best Banking FBO awards in 2013 and Best Support award in 2014.
Liberty Reserve Versus Credit Cards
One advantage that Liberty Reserve has over credit card is that the money you receive in your account cannot be reversed. There is no way of performing a charge back in Liberty Reserve. With credit card, the payment you receive can be reversed if they do a charge back. Liberty Reserve has a feature that you create multiple wallets, which is great for people who have accounts with more than one brokers. It allows you to keep track of the deposit/withdrawal you make in your trading account.
Liberity Reserve Versus Bank Wire
Liberty Reserve allows you to do a direct bank deposit into your bank account. As soon as you withdraw the funds, you can see it in your bank account. If you withdraw via bank wire, it will take a few days before you can see the funds in your account. Liberty Reserve charges a flat fee of $2.99 regardless of the amount you want to withdraw. Bank wire charges a much higher fee than Liberty Reserve. You need to have a larger amount in your account if you want to withdraw via bank wire.
Liberty Reserve Alternatives
There are many good alternatives to Liberty Reserve such as Perfect Money, Webmoney, and Payza. These payment systems allow you to send and receive payment instantly. They allow you to make transfer into your trading acount as soon as you funded the account. These electronic wallets are equipped with a secure encryption system that will keep the funds in your account safe.
In conclusion, using Liberty Reserve to deposit/withdraw funds from your trading account can help you to save money on the fees. The only downside of Liberty Reserve is that it is not secure enough compared to other payment methods such as credit cards and bank wire.