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  1. #1
    Senior Trader
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    Definitely, we should go with Regulated Payment process.

    Actually, in internet we use digital currencies and most of the times people ask me whether they are safe or not in using online payment processes. Few years back I had different views and now my mentality is little bit different, Three years back I confidently said to most of my friends that online payment processes are reliable and it is easy for us to use without any restriction.
    But suddenly everything has changed when we heard about the shutdown of Liberty Reserve payment process. One of the biggest payment process in online disappeared in few second with billions of dollars into their pocket. That was really a huge shock for not only for Forex traders but also many Freelancers that I know. My favorite online payment process collapsed not because of our fault because of their own faults. Actually Liberty Reserve doesn’t follow some rules and regulations which were mentioned by investigating authorities (according to news resources).

    Many online earners who were relying on this popular payment method got devastated and really disappointed. The effect was more severe on many people because most of the people lost huge amount of money as they seem it is a reliable payment process. So, nobody would think that one day this payment method will be disappeared and ultimately they lost everything. I know many Forex traders and online worker who lost huge amount of money because of using LR.
    By the way, do you know why this happened? Because, LR payment processor was not following any rules and also it was not regulated. It is really unfortunate that I’m talking about a payment process which was my favorite online payment system few years ago.

    Whatever, now I have determined not to use any online payment process which is not secure at all. So, now I prefer to use regulated payment processes only. In a regulated payment process we don’t need to be panicked because our money is in safe hands. It is also good to use those regulated payment processes which also provide direct bank transfer facility. It is really a great and convenient way to use such regulated payment processes.

    In addition, sometimes regulated payment processes asked you to verify your identity. Then, you need to submit few required documents, like your national ID card, driving license, bank account and electric bill. In my opinion, if you are using such payment process and still not verified your account then do it as soon as possible because of your own security.

  2. Thanks PCMNewsdesk thanked for this post
  3. #2
    Kevin Pietersen
    Guest
    No doubt about that, regulated payment processors are more good as compare to e currency payment processors in term of funds safely but it is quite hard to go for regulated payment processors for small transaction cause their fees is quite high, they look best if we have big amount of money is to deposit or withdraw they are safe and reliable.

  4. #3
    Senior Trader
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    Quote Originally Posted by Kevin Pietersen View Post
    No doubt about that, regulated payment processors are more good as compare to e currency payment processors in term of funds safely but it is quite hard to go for regulated payment processors for small transaction cause their fees is quite high, they look best if we have big amount of money is to deposit or withdraw they are safe and reliable.
    Yes! You are right many payment processors have low fees which are also not a regulated one. I too use such payment processors when and where required. If there is no options available to choose from then it’s okay. I am not totally against any payment processors which is not a regulated one. But I prefer to use, Skrill, Neteller or PayPal if I get these options. The fees are affordable because we need safety and security which is more important issue for me. However, when we withdraw any amount of money from PCM live account there is no fees. In addition, we also get others reliable transaction facilities from this regulated trading platform.

    By the way, for small amount of money we can definitely use any payment processors. There are still good payment processors which are very good and also popular. For example, I seem WebMoney is safe and secure payment processor. Actually, it is popular in Russian countries and people could easily transfer their money from their bank accounts. On the other hand, the fees are very low for sending any amount. In addition, there are many other payment processors which are very popular because of their good service.

    Whatever, to use any payment processor it is very necessary for us to research on such payment processor. We have different Forex traders which are based on different online payment processors. If a payment processor is following all digital currency terms then it is safe to use unless there is no regulated payment processors available to choose from.

  5. #4
    Senior Trader
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    Whatever it is, I do prefer direct bank withdrawal! Although, I know usually it takes a long time to complete; but the advantage is; there is no issue on reliability! Besides; no extra charge; I get my best profit by using direct bank withdrawal process.

  6. #5
    Senior Trader
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    Quote Originally Posted by Ricard Dorman View Post
    Whatever it is, I do prefer direct bank withdrawal! Although, I know usually it takes a long time to complete; but the advantage is; there is no issue on reliability! Besides; no extra charge; I get my best profit by using direct bank withdrawal process.


    You are right, bank withdrawal is reliable but the problem is, it takes such a long time! That means, if you need instant money then, bank withdrawal may not help you! In this case, online payment processors are useful! I mainly use SKRILL and NETELLER for my transactions; I never faced such a big issue in there! But, yes I don’t like commission or charge!

 

 

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