Application for Forex merchant accounts is always free, with no obligation. Allow business days for account approval from the time the complete application file is received, due to the high risk classification of the industry. Applying for a Forex credit card processing account is a straight-forward process.

You submit an application along with supporting documents. Once approved, you can process as much volume as you need.

Identify legitimate transactions, decline fraudulent ones, or set aside questionable ones for manual review. Acquiring banks classify Forex merchant accounts as high risk. Forex is a global trading platform. Although most reliable Forex trading platforms are licensed, others are not. The lack of regulation is a major concern to banks which then classify Forex payment processing as high risk merchants. Still, Forex credit card and debit card payments are a hugely valuable to trading platforms.

Cards are the fastest way to fund accounts. Time is money. Traders need to fund accounts quickly. The difference between a profitable trade and loss is often decided in minutes. Although the use of credit cards for Forex trading is not legal in the US, debit cards can still be used to fund accounts. And traders in many other countries can use credit cards without any issues. Another reason for the high risk classification for Forex payment processing is due to potential chargebacks from unhappy investors and the risk for fraud.

Traders who lose money can attempt to dispute a transaction by issuing a chargeback. Additionally, concerns about money laundering cause some acquiring banks to steer away from the industry. Many of these concerns can be alleviated during the underwriting of your Forex merchant account.

Having proper licensing in place is helpful for account approval. As are strong anti-money laundering and know-your-customer policies. Successfully accepting payments is the key to Forex trading. Payments power profits. Securely accept cards payments.

eWallet Payments

Add alternative payment methods that drive more orders and accelerate sales. Access specialized processing solutions designed to increase your profits, while reducing risk. Discover top notch service, dedicated support, and devotion to your complete satisfaction. Contact us anytime for a free, no-obligation consultation.

Your complete satisfaction is our goal. However, ever since financial companies started operating from an online platform, most modern organizations began offering multiple forms of payment options to facilitate fast, easy, and secure transactions to cater to the discerning requirements of the new-age investor. The increased popularity of FX trading and the introduction of advanced payment options in the financial market have allowed traders to invest in the markets through different sources. Forex trading is a serious business venture that requires traders to be careful about the long-term security of their trading capital.

The choice of a broker plays a vital part in ensuring the safety of your funds, as only the best Forex brokers can guarantee a secure environment that protects your money from financial scams. Several new regulations implemented by global financial watchdogs are specifically aimed at improving the convenience and safety of these financial transactions, which have led to an exponential rise in the number of secure payment services through both local and online mediums.

Gone are the days when traders had to wait for days and weeks for sending or receiving payments, as most financial transactions are now completed within 48 hours, regardless of the origin and destination of the payment. In this article, we will discuss all the essential features of modern Forex banking options, and how you can stay safe against financial abuse and broker scams. Sign Up. Online Forex trading is facilitated through trading platforms that do not require an investor to approach a broker for buying or selling currency pairs physically. Modern FX trading is carried out virtually through state-of-the-art trading protocols, which enable brokers to connect traders directly to a liquidity provider without any dealing desk.

Due to the multiple options available to a broker, most new FX brokerages make it convenient for their clients to make payments and initiate withdrawals from the comfort of their homes or office. Present day Forex banking can be divided into two different categories.

Traders have the option of either making an online payment using e-wallets or transact money through offline mediums using local payment methods. Online payment methods are the most popular among a majority of retail and institutional traders. Online payment processors, also known as e-wallets, are incredibly easy to use and are also highly secure against phishing or other financial scams.

Online payments are usually completed within seconds, as the funds are transferred electronically from one account to the other through packet matching. Here is a list of some of the most widely used online payment options for instant deposit and withdrawals:. Online payments are considered to be highly secure, but there may be security lapses from either the broker or the trader that can lead to large-scale financial irregularities. Traders will have to submit additional documents to its broker as proof of identification, mainly due to the anonymous nature of online payments.

Some online e-wallets offer chargebacks and other features to protect their consumers against fraudulent practices, which are often misused by both brokers and traders, leading to significant conflicts of interest. Offline payment methods are local payment modes that require a trader to physically approach a financial service provider to make a financial transaction.

However, the amount varies according to the payment method you choose and your trading account validation status. You can read more details about the deposit and withdrawal process in the Members Area. All client withdrawal requests shall be processed in the currency in which the deposit was originally made. Should the deposit currency differ from the transfer currency, the transfer amount will be converted by XM into the transfer currency at the prevailing exchange rate.

Since we can only transfer the same amount back to your card as the amount you have deposited, profits can be transferred to your bank account via wire transfer. If you have also made deposits via E-wallet, you also have the option to withdraw profits to that same E-wallet. In order to withdraw funds, your trading account must be validated.

Once you receive confirmation from our Validation Department that your account has been validated, you can request the funds withdrawal by logging in to the Members Area, selecting the Withdrawal tab and sending us a withdrawal request. It is only possible to send your withdrawal back to the original source of deposit. All withdrawals are processed by our Back Office within 24 hours on business days. Yes, you can. It depends on the country the money is sent to.

Standard bank wire within the EU takes 3 working days. Bank wires to some countries may take up to 5 working days. Your withdrawal request is processed by our back office within 24 hours. All deposits are instant, except for the bank wire transfer. All withdrawals are processed by our back office in 24 hours on business days. In order to protect all parties against fraud and in compliance with the CySEC Directive DI of for the prevention and suppression of money laundering, our company policy is to return clients' funds to the origin of these funds, and as such the withdrawal will be returned to your Moneybookers account.

This applies to all withdrawal methods, and the withdrawal has to go back to source of funds deposit. No, this is not possible. Your deposit can only be made from your own account, and the withdrawal has to go back to the source where the deposit was made. Yes, this is possible. You can request an internal transfer between two trading accounts, but only if both accounts have been opened under your name and if both trading accounts have been validated. If the base currency is different, the amount will be converted. Internal transfer can be requested in the Members Area , and it is instantly processed.

At XM we do not charge any fees or commissions. We cover all transaction fees with bank wire transfer for amounts over USD. While all features and functions of a real account are also available for a demo account, you should keep in mind that simulation cannot replicate real trading market conditions. One relevant difference is that the volume executed through the simulation does not affect the market; while in real trading volumes have effect on the market, especially when the deal size is large.