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Many binary options companies do not allow UnionPay as a payment choice. Therefore, finding a reliable dealer that accepts UnionPay as a payment option is not that easy. In this section, we’ll take a look at the two top UnionPay-accepting binary options companies and discuss their advantages and disadvantages. The best UnionPay-accepting companies are highlighted so that UnionPay users can make an educated choice about where to trade binary options. Keep reading for a detailed guide on these binary brokers.
Here are the top 2 Binary Options brokers that accept UnionPay:
Broker:
UnionPay accepted:
Advantages:
Account:
Yes
- Flexible commissions
- Customizable platform
- Education resources
- Raw spreads
Up to 92%+ return
(Risk warning: Your capital can be at risk)
Yes
- Decentralized trading
- Instant withdrawal
- Smart options
- Crowdsourced liquidity
Up to 90%+ return
(Risk warning: Your capital can be at risk)
This is the list of the top two brokers for using UnionPay:
- Olymp Trade – Our number-one UnionPay broker
- Spectre.ai – Modern trading platform
(Risk warning: Your capital can be at risk)
Introduction to binary options trading
What you will read in this Post
With binary options, you may trade price variations across various financial markets easily and straightforwardly. Unlike typical investing choices, binary options provide significantly different potential returns, fees, risks, liquidity structures, and investment methods.
To decide whether the underlying’s price will be greater or lower at the expiration of the contract, traders use Call/Put binary options.
Two distant strike prices surrounding the opening price of the account define Touch Binaries, which are binary options on Forex pairings with two remote strike prices. Customers choose the target price and the length of the contract when placing an order. When an option expires out-of-the-money, the system instantly places a 2nd target price level opposite the present instrument price at a similar range from it.
Chained option contracts allow users to automate a portion of binary trading activities. There are two sorts of techniques that may be used with it: winning and martingale. Among the most often used strategies in binary options trading is the “follow the trend” approach. If the preceding bet fails, the Martingale approach increases the contract amount by a factor of two.
Investors may predict if the value of a certain asset, such as Google’s shares, Bitcoin’s value, the USD/GBP currency value, or even gold’s value, will rise or fall using a binary option, which is a quick and easy financial tool. With trades lasting 60 seconds, it is feasible to transact on any world market multiple times each day.
A successful transaction will provide a credit of $170 – $195 if your forecast is 70–95 percent accurate. If you deposit $100, you may expect to earn this credit. This simplifies awareness of the possibility and trading choices.
It’s a “binary” choice since the conclusion is either a yes or no — you either win everything or you lose everything. One of the appeals is that the risk/reward ratio is predetermined.
Most brokers allow you to establish a demo account prior to depositing real money if you are unfamiliar with binary options trading. This allows you to practice trading without risking any of your own money.
Is UnionPay secure? – Safety of using UnionPay for traders
Many people are worried about their financial data being compromised by unsecured payment systems. UnionPay is used by millions of individuals around the globe, but can we trust it? This section will discuss the security steps in place to prevent fraud and illegal purchases when using UnionPay as a trader.
You can say that UnionPay is very safe, as there are the following components:
- EMV Chip Technology
UnionPay cards use EMV chip technology, which provides advanced security features to protect against fraud and unauthorized transactions. This technology ensures that cardholder information is encrypted and cannot be easily stolen. - Secure Mobile Payments
UnionPay also provides secure mobile payment services, allowing traders to make transactions using their smartphones. The mobile system uses encryption and biometric authentication. - Fraud Monitoring
UnionPay constantly monitors transactions for suspicious activity and alerts cardholders if it is detected.
(Risk warning: Your capital can be at risk)
Pros and Cons of using UnionPay for traders
Over 7 billion UnionPay cards have been distributed, making it one of the world’s most widely used payment methods. Therefore, it’s a tempting choice for traders who want to broaden their clientele and give their clients an easy way to make purchases. UnionPay has its benefits and drawbacks, just like any other payment method. In this section, we will discuss the advantages and disadvantages of accepting UnionPay as a merchant, giving you a better idea of what to expect if you decide to accept payments in this way.
- Wide Acceptance – Accepted in over 160 countries and regions
Low Fees – Generally have lower fees
Chinese Market Access – This can provide traders with access to the Chinese market
UnionPay Rewards – Offers many programs, including cashback, points, and discounts
- Limited Acceptance in Some Countries – in some countries, it is not widely accepted. This makes it less convenient for traders.
Language Barrier – if you do not speak Chinese, you can hardly use UnionPay’s customer service and support.
Strict Regulations – which can limit its flexibility and innovation compared to other payment systems.
Exchange Rate Fluctuations – for international transactions
The two best binary options brokers that accept UnionPay
First, you need to find agents that accept your chosen mode of payment. We’ve compiled a list of brokers that accept UnionPay as a method of payment in this guide. These two brokers have been chosen for their popularity, regulation, ease of use, and other crucial factors while compiling this list.
#1 Olymp Trade – Our number one UnionPay broker
Olymp Trade is a broker for fixed-time trades and forex. It is located in Suite 305, Griffith Corporate Centre P.O. box 1510, Beachmont, Kingstown, St. Vincent, and the Grenadines, and has been managed by Saledo Global LLC since 2014.
User-friendly design and layout make the trading experience even more pleasant for those who use the platform. On a real account, the minimum deposit is a mere $10. The maximum deposit at once is $5000. A $10,000 virtual money for an Olymp Trade demo account is accessible for free. You can deposit and withdraw your money using various methods, including UnionPay. Olymp Trade has built a solid reputation as a trustworthy broker for many years.
Olymp Trade is a trustworthy broker because of its long record and solid reputation. Binary Options are only one of several trading products accessible. There is a plethora of information in the research and analysis section of the broker, which makes it a suitable choice for beginner traders. Furthermore, we have collected some of the best Olymp Trade strategies for you.
Account types
Olymp Trade provides regular and VIP accounts. Skilled traders can use lower spreads, which are available on VIP accounts.
To make it easier for traders to begin trading and evaluate the brokers’ various accounts and investment options, the company offers attractive Olymp Trade bonuses and low fees. As a result of a huge emphasis on client service, Olymp Trade is among the most renowned brokers throughout many countries.
- Maximum Revenue: 91%+
- Minimum Deposit on Olymp Trade: $10
- Minimum Trade: $1
- Assets: ETFs, Currencies, Commodities, Stocks, Cryptocurrency
- Outlets: IOS, Android, Windows, and web browsers
- Deposits with UnionPay: Available
- Withdrawals with UnionPay: Available
- UnionPay fees on Olymp Trade: No
(Risk warning: Your capital can be at risk)
#2 Spectre.ai – Modern trading platform
Spectre.ai is among the most popular binary options trading firms worldwide. There are more than 80 assets that are available for trade. The apart feather of Spectra.ai is the utilization of Blockchain technology.
You won’t have to deposit money to start trading if you use e-wallets like UnionPay or digital currency like bitcoin.
Why you should choose Spectre.ai
Spectre.ai stands apart from other firms of comparable level. It doesn’t rely on MT4 or MT5 trading platforms.
Their strategy is more focused on the Binary Options that they are selling. The app has plenty of well-matched features to its services. A built-in API allows you to trade automatically. So you may take advantage of supporting AI-powered bots. Thanks to API, you can enjoy your trading results because of reducing some risk factors.
- Maximum Revenue: 91%+
- Minimum Spectre.ai Deposit: $10
- Minimum Trade: $1
- Assets: 80+ ETFs, Currencies, Commodities, Stocks, Cryptocurrency
- Outlets: Android, IOS, Windows, and web browsers
- Deposits with UnionPay: Available
- Spectre.ai withdrawals with UnionPay: Available
- UnionPay fees on Spectre.ai: No
It’s also possible to acquire what you need from the histogram metrics. Automated trading is also an option.
The Spectra.ai platform is unique as it only offers one type of account. If you make a deposit using your e-wallet, e.g., UnionPay, you may use all the platform’s features without making a minimum deposit. You’re conducting a direct transaction with your wallet and the markets.
(Risk warning: Your capital can be at risk)
Information about withdrawal with the method
Olymp Trade and Spectre.ai both accept UnionPay, and customers can quickly and simply withdraw their funds to a UnionPay card.
To withdraw money from Olymp Trade using UnionPay, a user must go to their account page, click the “Withdrawal” button, pick UnionPay as the withdrawal method, and enter their UnionPay card details. Within 24 hours of the withdrawal request, the transaction will be completed, and the UnionPay card will be paid with the funds within three to five working days.
Users on Spectre.ai can do the same, simply by going to their account page, clicking the “Withdraw” button, and then picking UnionPay as the withdrawal mechanism and entering their UnionPay card details. Within 24 hours of receiving the transfer request, the transaction will be completed, and the user’s UnionPay card will be paid with the funds within 2-5 working days.
UnionPay fees explained
Although there may be fees connected with using UnionPay for withdrawals on some platforms, it is important to note that neither Spectre.ai nor Olymp Trade charge any extra fees for using UnionPay.
Users should be aware that their own banking organization may assess a fee for handling UnionPay transactions. Users should consult their financial institutions regarding any potential costs associated with their specific transactions.
Alternatives to UnionPay
The brokers Olymp Trade and Spectre.ai provide alternatives to UnionPay, such as:
- Credit card payments
- Debit Card Payments
- Skrill
- Neteller
- PayPal
- Stripe
- Square
PayPal, Stripe, and Square are payment solutions with the same features, such as the ability to process payments, manage transactions, and access detailed reporting and analytics.
Conclusion – Try UnionPay as a payment method!
If you start trading binary options, these two platforms are ideal for your first experience. Plus, they also have your preferred payment option – UnionPay. So, you can be sure of a quick withdrawal of your funds.
The best UnionPay binary brokers are these, in the following order:
- Olymp Trade – Our number-one UnionPay broker
- Spectre.ai – Modern trading platform
(Risk warning: Your capital can be at risk)
Frequently asked questions about UnionPay:
Is UnionPay safe to use for binary options traders?
Yes. UnionPay offers security features for binary options traders, such as EMV chip technology and fraud monitoring, to avoid unauthorized transactions.
Does UnionPay offer rewards programs for traders?
Yes, UnionPay offers a range of rewards programs. You can access them on their website.
What alternative methods for binary options traders are available for using UnionPay?
Binary options traders can try mobile payments, prepaid cards, and bank transfers to make transactions.
