One of the considerations while choosing a broker for foreign exchange (Forex) trading is choosing the right method for depositing and withdrawal. Many of the Forex brokers will allow the user to withdraw funds only using the method used for depositing. One of the more popular ways to deposit money in the Forex account is by using perfect money. Some Forex traders have not used perfect money earlier, so they would like to get more information which will help them decide whether they should use it.
Perfect money is an electronic wallet (e-wallet) that can be used to make and receive payments, store fiat currencies, and cryptocurrencies, and online shopping. Members are also paid an interest of 4% on the balance in their wallet. Though it was available in 2007 or even earlier and a large number of companies are using perfect money there is not much information available about the founders of the company or the management. The website of the company initially was perfectmoney.com which was later changed to perfect money.is. It deals in US dollars, Euros, gold, and cryptocurrency. Despite the lack of information, it remains in business for many years.
While there are many brokers accepting Perfect money payment, Exness is one of the top-rated Perfectmoney brokers dealing with more than 100 assets.
In most cases, the broker will allow the member to withdraw the amount which he has deposited in perfect money. In many cases, the same perfect money account has to be used for deposit and withdrawal to prevent fraud. The charges for depositing and withdrawing money from the account will vary depending on the broker selected. While depositing money, the member will be directed to the perfect money website from the broker deposit page. While withdrawing money, the perfect money account number will have to be specified.
|Broker||Minimum Deposit||Maximum Leverage||Perfect Money Deposit||Perfect Money Withdrawal|
|Real Trade Group||$20||500:01:00||yes||yes|
|Nova FX Trading||$100||1000:01:00||yes||yes|
|Super Hot Forex||$200||500:01:00||yes||yes|
Advantages of using perfect money
Like other e-wallets, perfect money is widely used for making deposits and other applications because of the privacy offered and convenience. No personal information has to be provided. Another advantage is that it is easy to convert the currency between the fiat currencies like USD and cryptocurrencies whenever required. One of the main reasons why perfect money is popular is that it offers a 4% interest in wallet balance. There are different types of accounts available, with different fees, to suit members according to their requirements. In some countries, many e-wallets are not available, so forex traders may prefer perfect money.
Choosing a Forex broker
There are a large number of Forex brokers accepting perfect money payment, so one of the considerations while choosing a broker, is the platform design and features. It should be well designed and easy to use. The commission/spread or slippage which is charged should also be considered. The broker should have facilities suitable for the amount of invested trading and also provide trading platforms. It should also provide good customer support. The speed of processing payments for both deposits and withdrawals should be considered. Most traders will prefer the broker who is charging the lowest fees.
While there are many reputed e-wallets which can be used for making deposits with Forex brokers, some traders have limited options due to the country in which they live, lack of funds. Before using perfect money, the trader should do some research on the company. They can also ask customer support to resolve any queries which they have, since it is open 24 hours, 7 days a week. The Forex trader can also contact other Forex traders and ask them if they have used perfect money for Forex trading.
Finally, after considering all the information available, the Forex trader should take a decision on using Perfectmoney for trading in Forex, the amount he should invest.