Do you want to find a binary options brokers that allow you to deposit and withdraw money using Cashu? If you do then you can find a list of the best Cashu binary options brokers below. Use our reviews to find the Cashu broker that fits your needs the best or go directly to the broker to open an acccount.
Best Cashu Binary Options brokers
broker list here
About Cashu
Founded in 2002 by Jordanian tech company Maktoob, Cashu was introduced as an online credit card payment gateway. Over the years, it underwent several management transitions: first, a 2012 acquisition by the Middle Eastern e-commerce powerhouse, Souq.com, and then a groundbreaking management buyout in 2015 – a first in the Middle East.
2016 was a pivotal year for Cashu. Following the management buyout, the company shifted its base to Singapore, aligning itself with local regulations. That same year, it launched a prepaid virtual Mastercard for its users. By 2017, Cashu had secured full operational rights in Saudi Arabia.
Today, Cashu serves nearly 2.3 million users across countries like Libya, Iraq, Jordan, Lebanon, Qatar, and Egypt. It’s a preferred choice for many, especially in binary options trading, owing to its swift, uncomplicated, and secure online payment mechanism that doesn’t necessitate a bank account.
With approximately 75,000 recognized Cashu vendors across the MENA region, funding an account is fairly straightforward for residents. Moreover, with around 7,000 online merchants recognizing this mode of payment, users enjoy a broad spectrum of spending options.
Benefits and drawbacks of Cashu
What are the pro and cons of using Cashu to deposit money to your binary options broker
Depositing money into a binary options account using Cashu has its own set of advantages and disadvantages. Here’s a detailed look:
Benefits:
- Regional Accessibility: Cashu was designed to cater to the MENA (Middle East and North Africa) region, making it an ideal choice for traders in this area where some other international payment options might be limited.
- Security: Cashu uses advanced encryption techniques to protect transactions and ensure user data remains confidential.
- No Bank Account Needed: This is especially useful for individuals who don’t have a bank account or prefer not to use it for online trading.
- Prepaid Option: Cashu offers a prepaid virtual Mastercard, providing users with a means to control their spending and limit potential risks.
- Widespread Acceptance: With a vast network of vendors and online merchants recognizing Cashu, users can not only fund their trading accounts but also make various other online purchases.
- User-Friendly: The Cashu platform is designed to be intuitive, making it easy even for those new to online payments.
Drawbacks:
- Regional Focus: While Cashu is strong in the MENA region, it might not be as recognized or accessible globally, limiting its use for international traders.
- Withdrawal Restrictions: Some binary options brokers might not support withdrawals back to Cashu accounts, requiring an alternative withdrawal method.
- Potential Fees: There might be fees associated with transactions or while converting currencies, which users need to be aware of.
- Availability: While Cashu is popular in specific countries, it’s not universally accepted across all binary options platforms.
- Customer Support: Depending on the user’s location, there might be variations in the responsiveness and efficiency of customer support.
- Fund Limitations: Being a prepaid system, users need to ensure their Cashu account or card is adequately funded before initiating transactions, which might not always be convenient.
Before choosing Cashu or any payment method for binary options trading, it’s essential to do thorough research and be aware of all associated terms and fees. Ensuring that the binary options broker is reputable and prioritizing safe and transparent online financial transactions is always advisable.