Boleto, also referred to as Boleto Bancário, is a popular online payment processor service used by many people from Brazil. The payment system is geared towards paying bills online, sports betting accounts, gambling accounts, and for making deposits to other accounts such as online trading of forex, binary options, etc. The payment method is regulated by the central bank of Brazil, making it a very safe and secure deposit method. The payment system was developed in 1993 and generates 3.7 billion transactions per year. For Brazilian’s, the payment system is a must for doing business online. The system in which Boleto operates is much like a bank transfer. You receive a bank slip/ticket for making your payment. The payment can either be made online or at a bank or post office.show more
Depositing funds with Boleto is fast, secure, and easy. Any trader can easily deposit funds by following these steps:
There you have it, a unique alternative to depositing funds into your online brokerage account. Funds will be deposited to the trading account from anywhere between 1 to 5 days. This slower processing time may be a major disadvantage to some. Another negative aspect of Boleto is their high processing fees which range from 4% to 8%.
If you are from Brazil, there is a very high chance Boleto is right for you, as it the primary payment system for online deposits and payments. As well, it is regulated by the Central Bank of Brazil and has been in business for over 23 years. Another reason to use Boleto is if you do not own a credit card or bank account, or just simply prefer to make payments in cash. As well, this payment method is for those who do not need their funds deposited instantly, and prefer peace of mind knowing they are moving money with a reputable payment service.