Payment Options Available in Forex Brokers

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( — June 24, 2020) — Aside from competitive trading conditions, today’s Forex traders go after ease and convenience when it comes to depositing and withdrawing funds into/from their trading accounts. As much as possible, they want to focus more on their trading. This said, Forex brokers provide them various payment options, allowing their clients to select the one that best suits their preference.  Find more Forex broker reviews to know what payment system does your company provide.

In this blog, let’s delve into the payment options available for traders. Read on to find out each method’s features. 


To stay ahead of the game, Forex brokers must be able to provide their clients only the best service possible. Clients nowadays prioritize convenience. They want to make sure there are no any kind of disruptions in their trading activities. This is why brokers are always on the lookout for innovative and advanced solutions to make things easier for their clients. 

To be able to process deposit and withdrawal requests instantly, brokers provide eWallet methods as they offer users ease of use, faster processing time, and cheaper transaction fees. The most famous eWallet options today include Skrill, Neteller, and PayPal. These eWallets are very popular among traders.

Without a doubt, eWallets are very much more convenient to use than other payment methods. But besides this, it’s also easier to get refunds in case traders would want to get their money back because of issues with their brokers.

Lastly, a lot of Forex brokers offer exclusive bonus programs and offerings when traders deposit using  eWallet methods like Skrill or Neteller. This pushes the popularity of this payment method even further. 

Credit/Debit Cards

Credit and debit cards are also a popular payment method many Forex brokers offer. By linking your cards to your Forex trading account, requesting for deposits and withdrawals is easier. 

Should Forex traders experience scam related issues with their broker, they can request for a refund or chargeback. 

While using credit and debit cards is convenient, you should practice due diligence when funding your trading account as there’s a risk of data theft because card date might be seen or saved by your broker. 

Offline Payments

We’ve talked about the digital ways of funding and withdrawing. Now let’s talk about offline payments. This type uses traditional ways of funding your Forex trading account and getting money out of it. Payment methods of this type include wire, check, local deposit, and Western Union. Forex brokers also provide such methods to cater to those traders with no eWallets or credit and debit cards. But of course, before initiating transactions, especially large ones, make sure that the broker you’re transacting with is legit. 

Bear in mind that deposits and withdrawals funds through offline payments are pricier. It could also take a minimum of 5 days for transactions to push through. 

Moreover, in case of scam related issues, getting your funds back could be a long process. 


The decision as to what payment method to use in Forex brokers depends on your preference. For ease of use and fast process, you can opt for eWallets. There are many brokers to choose from which include eWallets in their payment options. 

When it comes to Forex transaction cost, eWallets are also cheaper compared to offline payments, and credit and debit cards as a lot of brokers don’t charge deposit commissions. This is part of their incentives to attract more clients. 

Meanwhile, as far as safety of funds is concerned, the three payment options mentioned above all offer safety measures to prevent any kind of scam. For eWallets, you can request for a refund in case your chosen broker is found to be stealing money from you. You may also do the same with credit and debit cards. 

We hope that this blog has given you useful insights on the different payment options available in Forex brokers. Whichever method you decide to use, the safety of your funds should be your priority. While the options we’ve given are considered safe, we can’t deny the fact that sometimes, the problems lie in Forex brokers themselves. Protect your hard-earned money at all costs. Before throwing in loads of cash, do yourself a favor – run a background check on the broker you have your eyes on.