Neteller is a payment system provider based in the British Isle of Man and regulated by Financial Conduct Authority (reference number: 900015). It was founded in 1999. It is operated by Optimal Payments PLC, a company, which is publicly traded on London Stock Exchange. Neteller is very popular in the online gambling industry and also in Forex and binary trading. Its closest competitor is Skrill.
Here is the list of Neteller's top benefits that attract currency traders to this system:
- No fees of any kind when sending and receiving money within the system.
- No fees for deposits and withdrawals with Forex brokers.
- Loyalty program for VIP members starting from $10,000/year turnover.
- Redeemable point rewards even for non-VIP members.
- No need to verify your identity until you decide to withdraw from your Neteller wallet.
- Verification process usually requires just one ID document scan.
- Neteller is a truly international payment system, allowing residents from more than 200 countries to open an account.
As you can see, the main advantage of this payment system is being able to fund your trading account without incurring any intermediary fees. This is possible because with Neteller, only merchants pay fees; in case of FX trading, these merchants are brokerage companies.
In March of 2015, Optimal Payments Plc (the operator of Neteller) has acquired Skrill from CVC Capital Partners, its former owner.
Here is the short list of the Forex brokers working with Neteller:
To open account with Neteller, please visit https://www.neteller.com/.