Fastest withdrawal forex broker
- Forex brokers rating
New forex bonuses
Fxdailyreport.Com
To answer this question, you need to understand how the trading market works. Forex brokers (dealing centers or dcs) are such licensed companies that provide traders with professional services for access to trade in the international currency market. The success of work on forex depends on the right choice of a dealing center.
Therefore, you should give a preference to a reliable and experienced broker with a variety of trading instruments. The company should have a long history of completed foreign exchange transactions. But how to choose the best forex broker for withdrawal?
How to choose the best forex broker for withdrawal?
Choosing a broker for trading on exchanges should begin with collecting information about successful transactions and openness in working with clients. A reliable broker has its portfolio of deals, a large number of reviews from customers.
The simplest way is to check the published lists of traders, which are continually changing and updated. The trader with the most reviews will offer some of the safest working conditions. We also recommend paying attention to how the process of registering and depositing money with a particular broker is going.
- Forex broker license
The presence of a broker license allows you to judge his conscientiousness and honesty in his approach to trading. A licensed broker is more likely to complete all transactions and also carries them with benefits not only for himself but also for the client.
But to obtain a license from well-known world communities or government agencies, a broker needs to try hard and earn a positive reputation. If you see that an unknown office located on a distant island issued the permit – you should avoid working with this broker.
- Forex brokers rating
On the internet, you can find several independent from each other ratings of popular brokers. You can sort them by the number and quality of reviews, working hours, and other essential parameters. We recommend you to pay attention to the number of completed transactions, the regularity in payments to customers, and not to leverage or the promised interest.
Top 10 forex brokers
| broker | info | bonus | open account |
|---|---|---|---|
| min deposit: $5 spread: from 0.2 pips leverage: 500:1 regulation: FSA (saint vincent and the grenadines), cysec | 50% deposit bonus, real contest 1st prize luxury car BMW X5 M, copy trading, trade&win. | Visit broker | |
| min deposit: $1 spread: from 0 pips leverage: 3000:1 regulation: cysec, IFSC | $100 no-deposit bonus, 100% deposit bonus | visit broker | |
 | min deposit: $5 spread: from 0 pips leverage: 888:1 “*this leverage does not apply to all the entities of XM group.” regulation: ASIC, cysec, IFSC belize | “50% +20% deposit bonus up to $5,000, loyalty program bonus “*clients registered under the EU regulated entity of the group are not eligible for the bonus and the loyalty program” | visit broker |
| min deposit: $1 spread: from 0 pips leverage: 2000:1 regulation: FCA UK, cysec, FSP, bafin, CRFIN | 35% of the account deposit | visit broker | |
 | min deposit: $100 spread: starting 0 pips leverage: up to 400:1 regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA | visit broker | |
| min deposit: $300 spread: floating, from 0 pips leverage: 500:1 regulation: FCA UK reference number 579202 | visit broker | ||
| min deposit: $200 spread: starting 0 pips leverage: 500:1 regulation: ASIC australia, FCA UK | visit broker | ||
| | min deposit: no minimum deposit spread: 1.2 pips leverage: 50:1 regulation: CFTC, NFA, FCA, MAS, ASIC, IIROC | visit broker | |
| min deposit: $10 spread: leverage: regulation: cysec | - | visit broker | |
| | min deposit: $200 spread: from 3 pips leverage: 400:1 regulation: NFA, FCA, cysec | visit broker |
In general, do your first steps in trading with the help of brokers with caution, trading on small amounts. Hence the preference in favor of traders with work experience and safe conditions.
- How do brokers earn?
Usually, brokerage support in the foreign exchange market is not free. And dealing companies, like traders, have some financial interests. How do they earn? Providing comprehensive support for trader transactions, such agents get income that makes up the difference between the purchase/sale prices of traded currency pairs (spreads).
Or they receive direct payment from the trader for each trade transaction conducted. Depending on the chosen scheme of work, a brokerage company can only get commissions or have additional sources of income.
- Reliable forex brokers
How to find a dealing center to which you can safely entrust your trading operations? One of the surest ways is to choose a broker on the recommendation of traders already working with them. Numerous ratings will also help ease the choice.
They publish information on the most successful and reliable forex brokers regularly. Besides, remember about such vital points as the transparency of the information provided on the dealing company activities. Check the legal documents and the availability of client support, working 24/7.
Three categories of brokers
In the modern foreign exchange market, there are three leading categories of brokers.
- Classical (most expensive) intermediaries work in the full-service format. They provide clients with a full range of services – from receiving orders to legal support of accounts.
- Discount dealing centers (discount broker) put the orders to the forex market. As payment for their work, they receive a monetary reward in the form of a percentage commission.
- Electronic or online brokers specialize in online transactions and have been extremely popular lately.
Withdrawal process in different brokers
How to withdraw money from your trading account? Every trader should ask himself this question when signing a service agreement. Let us talk about the withdrawal process on forex.
Why does a trader come to the forex currency market? Generally, not for fun, but profit. For this purpose, you study the basics of technical analysis, try various trading strategies, and read a lot of information. Finally, you achieved the result – profit. And the most critical question arises – how to get your hard-earned money?
How to withdraw money on forex?
The problem is that many traders choose brokers to trade without getting known how to get your earnings back. Many brokers have enormous commissions, and it may be that you did not even know about them. Let’s talk in more detail about how to withdraw money from a forex broker trading account.
What to do before opening a real account
Before you open a real deposit with a chosen forex broker, you should inquire about what conditions the broker withdraws the earned profit.
As a rule, money is available for withdrawal only after passing the verification procedure.
At the same time, verification can have several levels, on each of which you will need scans or photos of identity documents. Naturally, during registration, to avoid further problems, you should indicate your real last name and first name.
It is highly advisable to do the verification procedure before depositing funds. The requirements of a forex broker regarding the quality and quantity of necessary documents can seem needlessly strict to you. In this case, nothing stops you from changing your company before starting a financial relationship with it.
As a rule, there are no difficulties with verification. Most forex brokers request a standard set of documents: a passport scan and the confirmation of the address of your residence. After completing the verification, you only have to choose a suitable withdrawal method.
Most companies have a bonus program. Carefully read the terms of granting this bonus. Some bonuses limit the withdrawal of profits or even make it impossible without losing the reward.
Most popular ways of withdrawal
The methods for withdrawing profits, as well as the timing of this procedure, are different for each forex broker. For example, big companies withdraw money only to a bank account. Naturally, everything goes officially, including the income tax for individuals.
Dealing centers and brokers do not limit their services only in this way but offer many more ways to get your profits – from electronic payment systems to cryptocurrency. That is why you should choose a broker that uses the withdrawal method most convenient to you.
- Electronic payment systems
Most companies allow you to withdraw profits on electronic wallets of the most common payment systems. The leaders are paypal, skrill, and neteller. When choosing a payment system, be sure to check how much money you will lose when withdrawing profits. For example, neteller has a commission of 1% (no more than 11.41 USD or 10 EUR) and a fee of 1.39% of the withdrawal amount.
At the same time, pay attention to the timing. The withdrawal may take from several business hours to several business days – this will be indicated on the broker’s website and in the contract.
- Withdrawal to a bank account
This method is not so popular among ordinary traders. The commission charged in this case is slightly higher than when withdrawing funds to the same card using the chain trading account – electronic payment system – bank card. It is especially true if the country of residence of the trader and the broker’s country are different. In some cases, for citizens of other states, this method is generally not available.
The timing of the withdrawal of money also decreases the popularity of this method. Unlike electronic payment systems, it can take from 1 to 7 banking days. Nevertheless, many traders with a substantial profit (several thousand dollars) use this system. For such traders, it is not the waiting time that matters, but its maximum reliability.
- Forex brokers cards
The trend of issuing payment cards by brokers gains popularity. Each company names them different, but they are the same – an international mastercard. This method has many advantages. Using a mastercard, you can withdraw cash at any ATM, pay in stores, make purchases on ebay or amazon.
However, the most significant benefit is different. Brokers open their cards in the offshore zone. And the law of their native state doesn’t regulate them.. Therefore, if your profit from forex trading has reached a grandiose size, this method will be most profitable.
But there are some drawbacks. The issuance of such a card is not free, and the broker also charges a card maintenance fee. Therefore, if your profit is not too big, there is no reason for using it.
Conclusion
As you see, choosing the best forex broker for withdrawal is a quite complicated task. First of all, you should determine your needs and the most convenient withdrawal method for you. And only then you can start looking for a broker.
You have come to the foreign exchange market with serious intentions to make money. So the question of money withdrawal should interest you first of all. After all, the goal of a trader is earning, and not to deposit money on a forex broker account.
Forex brokers with best money withdrawal options in 2020
The best and most exciting thing about forex trading is, of course, to withdraw your profit from the forex broker. Say you have been trading, made a considerable amount of profit and now you want to spend your profit. In order to be able to do it, first you have to get your money back from the broker. To withdraw money from your forex account is very straightforward in general but does require you to take few steps.
Forex brokers with best money withdrawal options
Forex.Com
Forex.Com is owned and operated by an industry giant; GAIN capital holdings who has been around for more than 20 years. Forex.Com is registered and regulated by CFTC, NFA and CIMA. The broker accepts clients from the US. Investors can deposit and withdraw funds by credit card, bank card and wire transfer. Digital wallets are going to be available soon.
Money withdrawal options: credit card, bank card, wire transfer
XM
XM puts more than ten methods of deposit and withdrawal under disposal of its clients. In addition to international bank transfer and credit card which has become industry standards as deposit and withdrawal methods, XM clients can use various other methods. Those methods include neteller, skrill, unionpay, web money, ideal, moneybookers, moneygram, sofort and western union. One important detail which makes XM even more favorable is that the broker covers international wire transfer commission of its own part which considerably reduces the withdrawal cost.
Money withdrawal options: wire transfer, credit card, neteller, skrill, unionpay, web money, ideal, moneybookers, moneygram, sofort, western union
Fxpro
Regulated by FCA,cysec and SCB, fxpro is headquarted in london and one of the most prominent forex brokers in the industry. Traders who open an account at fxpro can withdraw and deposit funds through credit card, international bank transfer (SWIFT), paypal, skrill, neteller and china unionpay.
Money withdrawal options: wire transfer, credit card, paypal, skrill, neteller, unionpay
Hotforex
Established in 2010 and headquartered in cyprus, hotforex is an award winning forex broker that offers a wide range of account types and trading instruments. The broker is pursuing a policy of providing the most convenient and advantageous trading conditions for the traders. You can deposit money in hotforex using credit or debit cards and bank wire transfers. Apart from that hotforex also accepts skrill, neteller, fasapay, sofort, mybitwallet, ideal and webmoney.
Money withdrawal options: wire transfer, credit card, skrill, neteller, fasapay, sofort, ideal, webmoney, bitcoin
Exness
Exness was founded in 2008 in russia and has grown into one of the most popular forex brokers in europe since then. The company is regulated by cysec in cyprus and FCA in UK. Having a wide array of payment methods, transacting money on this brokerage platform is pretty easy and quick.
Money withdrawal options: wire transfer, credit card, skrill, neteller, webmoney, perfect money, sticpay, jeton wallet
Choose the withdrawal option
When it comes to withdraw your profit from forex brokers, the methods are not scarce including credit card, wire transfer, paypal, neteller, skrill, western union, bitcoin to name a few.
I usually go with wire transfer when withdrawing my profit. Nevertheless it comes with some caveats. Wire transfer is recommended if only you are going to withdraw an amount over a thousand. Otherwise the bank transfer fees are going to eat up your hard earned profit. Bear in mind that when you choose to get your money back through wire transfer, you are going to get double charged (once by the bank in where your forex broker is located and again by your local bank). The fees could range from $50 to $100 in total. The certain amount completely depends on the bank the broker is working with and your local bank. International wire transfer fees charged by some US banks are explained in this article.
My second favorite option to withdraw funds from forex account is credit card. Again there are some caveats. Some forex brokers don’t allow you to withdraw more than what you deposited with the same credit card. When you deposit $1000 to your forex account using credit card, you can only withdraw an amount up to $1000 by the same card. So you will have to choose another withdrawal method to transfer your profit.
Though I haven’t used so far, other popular methods are digital wallets like neteller, skrill, paypal. Forex brokers don’t charge extra fees to withdraw money by digital wallets however those services apply their own fees when you want to transfer money from the wallet to your bank account.
Submit your withdrawal request
After you decided the best transfer option for you, you have to submit your withdrawal request. Forex brokers used to demand clients to print out a withdrawal form then fill, sign and forward it to the broker by mail or e-mail.
However nowadays you don’t have to go through this cumbersome process. Majority of the forex brokers provide clients with a username and password for the client portal where they can submit their money withdrawal request in just seconds.
Just log in to the client portal, navigate to the money withdrawal section, fill the online form and click the submit button. Congratulations!
An important caveat is that some forex brokers do not require clients to verify their account till to the point they wish to withdraw funds from their account. If this is the case for the broker that you are trading with, you will need to verify your forex trading account by loading proof documents for ID and address. However, you will have always the chance to verify your account upon registration in case you do not want to worry about the last minute rush.
Wait until your fund is transferred to your bank account / credit card / digital wallet
It ranges between one to three business days depending on the forex broker and withdrawal option you used. Wire transfer and credit card transfers could take up to three business days. Though I remember several times that I received the funds same day when I used wire transfer as the transfer option. The commission and fees are not fixed for wire transfer. Since there are three banks involved at a wire transfer transaction, it is hard to know the exact amount that is going to be charged as commission. However, based on my experience, I can say that it should range between $30 and $100.
Digital wallets such as skrill and neteller has a different commission and time schedule. First time you incur any commission is the moment you withdraw funds from your trading account. The rate changes between %3 and %2 of the amount you like to withdraw. It takes fews days between the time that money leaves your trading account and arrives at your digital wallet. Second time you will get charged is the moment you transfer the money from your skrill account to your bank account. That is another %3 – %2 commission.
Wire transfer is my preferred withdrawal and deposit method. I use digital wallets only if wire transfer is not among the methods offered by the forex broker. Credit card is fast and more reasonable than any other withdrawal and deposit method. Nevertheless, I shall kindly point out that in the case you choosed credit card as a withdrawal method, you can only withdraw the amount you deposited by the same credit card. Therefore, you will have to use another method in order to be able to withdraw your profit.
Forex brokers that accept mobile money
This article describes forex brokers who accept the use of mobile money for forex deposits and withdrawals. But what is mobile money all about?
Mobile money refers to money stored in an account that is operated by telecom companies, in which the user’s mobile phone and other telephony details such as the phone number are integral components of the transaction process. This is possible because phone numbers are unique in themselves, and every phone device comes with a unique international mobile equipment (IMEI) number. The unique nature of phone numbers can be enhanced by subjecting each user to biometric registration, in which physical traits that cannot be replicated in any other human being such as the fingerprint, are captured and assigned to the phone number. That way, a user can perform financial transactions over a mobile network using the phone number as a unique identification number, just the way every bank customer would have a unique bank account number, cheque books or savings passbooks of years gone by.
The mobile money payment channel is very common in africa, where it is used as a tool for financial inclusion. Many african countries and indeed countries of the middle east have large unbanked populations. Accessing services such as a forex trading account require financial inclusion, where a user of the financial system can be identified and the individual’s financial history can be profiled, in compliance with international laws against money laundering.
What forex brokers accept mobile money
The number of forex brokers that accept mobile money for deposits and withdrawals is still relatively low. Despite this fact, there are already a couple of solid forex brokers who work with mobile money.
Cfds are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading cfds.
You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.
¹ variable spreads vary according to the current market conditions, recorded for EUR/USD on 06.05.2020 at 10:42 GMT+1.
Forex brokers and mobile money
With the passage of the european securities and markets authority (ESMA) rules of 2018, it has become very expensive for traders to open and operate trading accounts with UK and EU forex brokers. This has led to a mass migration of traders to so-called offshore locations and loss of business for many of these EU brokers. The loss of business has hit many of them so badly, that their loud protests have caught the attention of the european commission, which has instituted a process to review the mifid II protocols that ESMA derives its regulatory powers from.
Some EU brokerages have been able to adapt to the situation by creating international divisions to handle clients from outside the EU. Africa represents a huge opportunity for forex brokers because the penetration of forex trading on the continent is relatively low. However, there is a large unbanked population in the african market. For the unbanked, mobile money represents one of the major means of transaction. This has led to a slight increase in the number of forex brokers that accept mobile money for transactions. Kenya and ghana are two countries where the use of mobile money is very high.
Forex brokers that accept mobile money in ghana have an advantage because even those who operate bank accounts also have access to mobile money. Mobile money usage in ghana is driven by telecom companies such as airtel/tigo, MTN and glo. In kenya on the other hand, the most popular mobile money payment system is vodafone’s M-pesa.
Mobile money as a funding method
To be able to get registered on a mobile money network, the user must have a phone number, with a registered SIM card matched to the user by means of biometrics. This provides an infallible means of identification, allowing the user to perform transactions on the mobile phone.
Forex brokers that accept mobile money in ghana are then able to accept deposits in the local currency, the ghana cedis (GHS). Withdrawals are also conducted in the local currency. Users have the option of operating forex accounts in the local currency (if the broker allows it), or they can still maintain foreign currency accounts, in which case the appropriate conversion rates and charges are applied.
Since the mobile money registration process also incorporates biometric registration, all data can be harmonized and checked by the brokerage’s compliance department to ensure that appropriate know-your-customer (KYC) protocols are followed.
Benefits of using a forex broker that accepts mobile money
The benefits of using an FX broker that accepts mobile money are as follows:
- A) very fast deposits and withdrawals: transaction times are very fast, as transfers are processed in a matter of minutes.
- B) it is a cashless method which allows the user to transact without carrying money.
- C) the convenience of this transaction method is virtually unrivalled. A country like ghana has mobile money outlets on virtually every street. You can simply walk into a vendor’s shop, deposit ghana cedis with the vendor, have your mobile money wallet funded and you proceed to fund your forex account.
- D) no need to fill any forms and there is no waiting time. You can do your forex account funding anytime, including weekends and holidays.
Drawbacks of using a forex broker that accepts mobile money
What are the drawbacks of using forex brokers that accept mobile money?
- A) initial sign-up processes can be a hassle. There are instances of registration failure due to problems with the internet network.
- B) forex brokers that accept mobile money are relatively few. This narrows the user’s choice of brokers.
Choosing a forex broker that accepts mobile money
Presently, the number of forex brokers accept mobile money in ghana and around africa are few. However, this could change quickly as more brokers are entering the african market. For a user, make sure to use online forums and other information sources to get a first-hand account on the experience others have had with the mobile money transaction process. You can also check the table above to see some of the most popular FX brokers that are accepting mobile money.
Fastest withdrawal forex broker
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Основная цель IC markets – создание лучших и наиболее прозрачных условий для розничных и корпоративных трейдеров. Оператор IC markets создан трейдерами и для трейдеров, поэтому мы делаем все для предоставления лучшего спреда, исполнения и обслуживания.
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О компании IC markets
Основная цель IC markets – создание лучших и наиболее прозрачных условий для розничных и корпоративных трейдеров. Оператор IC markets создан трейдерами и для трейдеров, поэтому мы делаем все для предоставления лучшего спреда, исполнения и обслуживания.
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О компании IC markets
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Best FOREX BROKERS THAT ACCEPT PAYPAL
| forex broker | max leverage | min. Deposit | spread | full reviews | trade now |
|---|---|---|---|---|---|
| 500:1 | $200 | from 0.0 pips | read the full review | ||
| 500:1 | $200 | from 0.0 pips | read the full review | ||
| 200:1 | $0 | from 0.1 pips | read the full review | ||
| 1000:1 | $10 | from 0.1 pips | read the full review | ||
| 500:1 | $5 | from 0.0 pips | read the full review | ||
| 400:1 | $100 | from 1.8 pips | read the full review | ||
| 500:1 | $200 | from 0.0 pips | read the full review | ||
| 400:1 | $100 | from 0.8 pips | read the full review |
| forex broker | max leverage | min. Deposit | spread | full reviews | trade now |
|---|---|---|---|---|---|
| 500:1 | $200 | from 0.0 pips | read the full review | ||
| 500:1 | $200 | from 0.0 pips | read the full review | ||
| 200:1 | $0 | from 0.1 pips | read the full review | ||
| 1000:1 | $10 | from 0.1 pips | read the full review | ||
| 500:1 | $5 | from 0.0 pips | read the full review | ||
| 400:1 | $100 | from 1.8 pips | read the full review | ||
| 500:1 | $200 | from 0.0 pips | read the full review | ||
| 400:1 | $100 | from 0.8 pips | read the full review |
What is paypal?
Paypal holdings, inc. Is an american company operating a worldwide online payment system that supports online money transfers and serves as an electronic alternative to traditional paper methods like cheques and money orders. The company operates as a payment processor for online vendors, auction sites, and other commercial users. The fees are commonly low and are charged for benefits such as one-click transactions or password memory.
Most people living in the modern world have probably stumbled across paypal at some point in their lives. Paypal is arguably one of the most convenient forms of payment in the contemporary world. Anyone, including paypal forex brokers , who has used this online payment system will have to admit that it is not only fast but also easy to use. Paypal has grown to a giant within the financial services industry and currently has over 240 million registered user accounts.
Paypal itself defines their service as an online service that allows you to make payments, send money as well as accept payments from other people without compromising your personal financial information. It can be used for business as well as personal needs.
Most sophisticated f orex brokers have adopted paypal transactions and have integrated them into their payment systems .
What are the benefits of tradig with a forex broker that accepts paypal?
As highlighted above, making a paypal payment is a fast, secure, convenient, and simple way to send and receive funds. As such, it makes sense to look for a f orex broker that offers paypal as a method of payment. Over the years, many online businesses, including top CFD brokers, have integrated online payment merchants or e-wallets such as skrill (moneybookers), neteller , webmoney , fasapay, and astropay but also paypal as deposit and/or withdrawal options.
Similar to credit card transactions, traders can deposit funds with paypal directly into their trading account . Funds are settled immediately. Withdrawing funds from your trading account to your paypal account typically takes 2-3 business days to settle. Paypal is available in over 200 countries worldwide and allows users to hold and send funds in more than 50 currencies, including USD, EUR, GBP, CAD, JPY, INR and many more.
Paypal fees are low compared to many other methods and are suitable for traders. There are no hidden charges, which makes the use of paypal very transparent. No fees are charged monthly for processing payments and funds can be send from paypal directly to your bank account .
Are there any disadvantages of using paypal as a trader?
Due to its low fees and the fact that paypal can be used to transfer funds immediately to your own trading account, it’s a great solution for the modern trader.
The company imposes different commissions and fees in each transfer of funds that you make that can reach 3% of the total amount transacted. Other charges may apply as well, and unfortunately, their foreign exchange rates are also pretty bad.
There are no fees or costs when you withdraw funds from your trading account to your paypal wallet if the account currencies match. As an example, if your trading account is in US dollars and you also hold a US dollar wallet with paypal, the costs for cashing out the money from your trading account are zero (unless the broker you trade with applies fees). However, once you want to send these funds to your local bank account, you may be charged high fees and also unfavourable currency exchange rates.
Another setback is that paypal’s updated user agreement policies highlight that forex trading is not covered by purchase protection. This means that chargebacks are not available for forex trading. Paypal’s user agreement policies describe that stock and CFD trading, similar to gambling or igaming, is a service and requires entry payments. Therefore, it is excluded from those activities that are eligible for a reimbursement.
Which are the best forex brokers that allow paypal transactions on their platforms?
Typically, a CFD broker accepts a number of different payment methods. Credit and debit cards as well as bank wire transfers are the most common payment services made available.
However, top forex brokers offer more options such as e-wallets or even bitcoin transfers. Forex traders that open a forex account with a reputable paypal broker have yet another convenient way to deposit funds that is fast and securely.
IC markets is one of the world’s leading true ECN trading brokers that allows paypal deposits and withdrawals. IC markets is an australia-based CFD broker that is licensed and regulated by ASIC (australian securities and investments commission), offering an outstanding trading environment with a high level of web security. Minimum deposit requirements are low at only $200, and leverage can be set as high as 500:1. This forex broker offers the popular MT4 and MT5 trading platforms as well as ctrader, which is often utilized by professional traders. Their sophisticated trading environment can also be tested with a demo account.
Pepperstone is another leading forex and CFD broker that offers paypal as a deposit and payment option. Pepperstone is licensed and regulated in australia by the australian securities and investments commission (ASIC) and the financial conduct authority (FCA) in the united kingdom, providing traders with low-cost pricing across forex and other financial instruments.
Other payment methods offered by this broker are credit cards and debit cards (VISA and mastercard), neteller, skrill, poli, fasapay , QIWI, china union pay, bpay (for australian clients only), bank transfer as well as broker to broker transfers. Pepperstone’s revolutionary and unique trading platforms offer liquidity and spreads that have previously only been available to professional or institutional clients such as hedge funds and banks. Ultra-fast execution and a stable trading environment are provided to each user.
All important aspects, such as spreads, leverage (up to 400:1) and speed of execution, are at a world-class level. Their competent, award-winning customer service and account management teams are also one of the best in the industry, excelling in every possible way.
Find the best paypal forex brokers for your needs
To help you find the forex broker that is best suited to your needs, take a look at our comparison table and ranking of the best forex brokers that accept paypal above. If you require more in-depth information or are looking for more brokers to choose from, check out our detailed individual broker reviews and additional comparison tables.
Best forex brokers in nigeria for 2021
We compared & then selected the 8 best forex brokers in nigeria that are regulated with FCA (UK), cysec & FSCA.
Forex trading is a popular financial instrument for investing in the markets. However, choosing the right forex broker can be a tricky task.
In a rapidly developing country such as nigeria, there are so many good brokers, but there are also a lot more scam brokers operating in the market. So it is really important to only choose trusted & regulated nigerian forex brokers and avoid the bad ones.
In order to help you find the best forex broker, we have tracked & compared over 10 different brokers that accept nigerian investors.
List of 8 best regulated forex brokers in nigeria for 2021
There are various aspects that we looked into in order to assess each broker, these include the broker’s compliance with multiple top-tier regulations, broker reviews, the amount of fee charged (even the hidden charges), leverage offered, minimum deposit, funding & withdrawal methods and time taken etc.
Our below vetted list is created especially for nigerian traders; it will quickly allow you to compare the key features that you need to look for in any reputed forex broker.
Best forex brokers in nigeria
Here’s our updated list of the 8 best performing forex brokers in nigeria in terms of trading & non-trading fees, promptness of deposits & withdrawals, trade execution, support & deposit bonus (last 6 months):
1. FXTM – best forex broker in nigeria (instant order execution, low deposit & easy withdrawals)
Overall rating 9/10
- Fees: 1.9 pips average spread for EUR/USD with standard account. And 0.3 pips (plus $0.4 per mini lot) with ECN MT5 account.
- Account minimum: ₦2000 or $10 (cent account)
- Leverage: 1:1000
- Promotion: no deposit bonus available currently
Ranks #1 forex broker in nigeria
Forextime or FXTM is the best forex broker in nigeria, and they are one of the few forex brokers that has local office & phone number in nigeria. They are safe for nigerian traders as they are regulated under various trusted jurisdictions such as the FCA in UK, cysec in cyprus, FSCA and FSC of mauritius. FXTM is our recommended forex broker for nigerian traders.
FXTM’s was founded in 2011 & they are a FCA regulated forex broker, which is a top tier regulation, so we consider them to be a safe broker. They offer various account types, all of them can be funded in USD or naira & have very low minimum deposit requirements starting from just ₦2000 with the cent account. This makes FXTM a very good choice for nigerian traders.
Apart from forex trading, FXTM also offer other instruments such as cfds on commodity futures and cfds on spot metals making them a very attractive choice for traders looking to diversify their portfolio. They have also recently upgraded its range of currencies & now offer 57 major & minor currency pairs.
Another important factor that we look for in a broker is their promptness of support & withdrawals, and FXTM beats other brokers hands down in this area.
FXTM broker offers local customer support in english & has 19 deposit & withdrawal options which includes many methods for nigerian traders including bank deposit & card payment. Even allows users to create a demo account in order to build their confidence and learn the art of trading. FXTM also offers a wide range of educational material to its clients, including trading webinars.
- FXTM is a highly regulated forex broker, so trading with them is safe. They are regulated globally with 3 top tier regulators i.E. FCA(UK), FSCA & cysec.
- You can start trading with ₦2000 deposit, making them a good option for new traders.
- Low spreads for most major & minor currency pairs including EUR/USD with ECN MT5 account.
- Fast withdrawals in nigeria.
- Live chat support is available 24/5 & for few hours during weekends. Their support overall is quite good.
- FXTM has bit higher spread with their standard accounts compared to other brokers. For ex. Their typical EUR/USD spread with standard account is around 1.9 pips on average, but its still competitive.
2. Hotforex – best regulated forex broker with low spread & 100% deposit bonus
Overall rating 9.0/10
- Typical fees: 1.2 pips spread for EUR/USD with micro account & 0.3 pips with zero account. This would be variable depending in the market conditions.
- Account minimum: $5 (₦2000)
- Leverage: 1:1000
- Promotion: get 100% bonus on new deposits with at-least ₦30,000 deposit required.
Ranks #2 forex broker in nigeria
Hotforex is our recommended low cost broker for nigeria. They have a local office & phone support in nigeria & are a highly regulated broker (FCA, FSCA & cysec). They are a 100% STP broker which ensures very fair dealing. Plus they offer very good order execution on all trades, have really low spreads for EUR/USD & other majors, and very good customer support as well. We highly recommend hotforex for beginner traders looking for a well regulated low cost broker in nigeria.
Hotforex was established in the year 2010. They are regulated with FCA (UK), cysec & even financial sector conduct authority (south africa), so we find them to be a trusted broker for nigerians.
They have very low minimum deposit, as low as $5. Also, they offer extremely competitive spread of 0.3 pips for EUR/USD with zero account (1.2 pips with premium, micro accounts), 0.8 for USD/JPY, 0.6 for GBP/USD (this may vary depending on the market fluctuations).
Further, hotforex offers trading on various platforms that can be accessed from android, iphone and desktop. You can trade on the metatrader 4 or metatrader 5 platforms, both of which are the most widely used trading platforms in the world.
Hotforex also offers local bank withdraw and deposit methods for nigerian traders, and there are many wallet options as well. Plus, hotforex have ongoing deposit bonus promotion available for traders in nigeria.
- Hotforex is a highly regulated broker, as they are regulated by 3 top-tier regulatory authorities FCA, FSCA & CYSEC. This ensures very fair dealing.
- Low minimum deposit requirements of $5.
- Hotforex has one of the lowest spread of all the brokers that we have compared. Around 0.3 pips typical spread for EUR/USD with their zero account.
- Very attractive 100% sign up bonus for new customers & good loyalty program for existing customers.
- Hotforex offers local deposit options like bank transfers for nigerian customers. You would need to talk to their live chat for the local bank funding options.
- Very good support available via live chat, phone & emails.
- 100% depoit bonus available for every deposit of $250 or higher.
- Their commission per lot of $6 (roundturn) with zero account is higher than other brokers like IC markets, FXTM that offer similar low spread ECN type accounts.
3. Octafx – low spread broker, commission free local deposits, withdrawals & 50% deposit bonus
Overall rating 8.9/10
- Fees: 1.1 pips typical spread for EUR/USD with MT4 micro accounts. And 0.7 pips (plus $0.3 per mini lot) with ECN ctrader account.
- Account minimum: $50 (₦18,000)
- Leverage: 1:500
- Promotion: 50% deposit bonus on all deposits
Ranked #3 forex broker in nigeria
Octafx is a cysec regulated forex broker that also accepts nigerian clients. They offer good trading conditions including competitive spread, fixed as well as variable spread MT4 accounts, local nigerian bank deposit & withdrawal methods, and multiple trading platforms i.E. MT4, MT5 & ctrader for mobile, web, and desktop.
Octafx is a forex & CFD broker that was established in 2011. They have 3 account types i.E: MT4 micro account for new traders with spread starting from 0.4 pips, the MT5 account for expert traders with 0.2 pips spread & ctrader ECN account for professional traders with the lowest raw spread & direct market execution. All their accounts have good trading conditions with support for scalping & hedging.
Their trading instruments on offer are limited though, as octafx offers forex trading on 28 currency pairs, and CFD trading on metals, energies, indices & cryptocurrencies. But they have competitive spread on their available trading assets, especially for traders who are looking to trade major currency pairs, and 3 main cryptos (bitcoin, ethereum and litecoin).
Their support is also very responsive in handing issues. Their live chat support is available for 5 week days, and email support is available 24/7. They also have whatsapp text support available. But they don’t have a nigerian phone number currently.
The funding & withdrawal options at octafx are very wide for nigerian traders. They offer instant funding via skrill, neteller, and quick zero fees funding via bank transfer, or cash, or ATM in their gtbank account. Also they offer BTC funding & withdrawal.
- Octafx is a cysec regulated forex broker, so it is considered safe for nigerian traders to trade with them.
- Their spreads for major currency pairs is quite competitive. For ex. Their spread for EUR/USD starts from 0.4 pips even with their beginner MT4 micro account.
- Local deposit & withdrawals options available in nigeria, and they don’t charge any fees with this method. Also instant wallet funding and withdrawals options are available.
- Their support overall is good, as their live chat support is available 24/5, and their email support is available 24/7.
- They have a 50% deposit bonus available for all deposits.
- Octafx has lesser trading assets available as compared to other forex brokers. They have 28 currency pairs, cfds on 4 metals, 10 indices & 3 cryptos (bitcoin, litecoin, ethereum).
Best FOREX BROKERS THAT ACCEPT PAYPAL
| forex broker | max leverage | min. Deposit | spread | full reviews | trade now |
|---|---|---|---|---|---|
| 500:1 | $200 | from 0.0 pips | read the full review | ||
| 500:1 | $200 | from 0.0 pips | read the full review | ||
| 200:1 | $0 | from 0.1 pips | read the full review | ||
| 1000:1 | $10 | from 0.1 pips | read the full review | ||
| 500:1 | $5 | from 0.0 pips | read the full review | ||
| 400:1 | $100 | from 1.8 pips | read the full review | ||
| 500:1 | $200 | from 0.0 pips | read the full review | ||
| 400:1 | $100 | from 0.8 pips | read the full review |
| forex broker | max leverage | min. Deposit | spread | full reviews | trade now |
|---|---|---|---|---|---|
| 500:1 | $200 | from 0.0 pips | read the full review | ||
| 500:1 | $200 | from 0.0 pips | read the full review | ||
| 200:1 | $0 | from 0.1 pips | read the full review | ||
| 1000:1 | $10 | from 0.1 pips | read the full review | ||
| 500:1 | $5 | from 0.0 pips | read the full review | ||
| 400:1 | $100 | from 1.8 pips | read the full review | ||
| 500:1 | $200 | from 0.0 pips | read the full review | ||
| 400:1 | $100 | from 0.8 pips | read the full review |
What is paypal?
Paypal holdings, inc. Is an american company operating a worldwide online payment system that supports online money transfers and serves as an electronic alternative to traditional paper methods like cheques and money orders. The company operates as a payment processor for online vendors, auction sites, and other commercial users. The fees are commonly low and are charged for benefits such as one-click transactions or password memory.
Most people living in the modern world have probably stumbled across paypal at some point in their lives. Paypal is arguably one of the most convenient forms of payment in the contemporary world. Anyone, including paypal forex brokers , who has used this online payment system will have to admit that it is not only fast but also easy to use. Paypal has grown to a giant within the financial services industry and currently has over 240 million registered user accounts.
Paypal itself defines their service as an online service that allows you to make payments, send money as well as accept payments from other people without compromising your personal financial information. It can be used for business as well as personal needs.
Most sophisticated f orex brokers have adopted paypal transactions and have integrated them into their payment systems .
What are the benefits of tradig with a forex broker that accepts paypal?
As highlighted above, making a paypal payment is a fast, secure, convenient, and simple way to send and receive funds. As such, it makes sense to look for a f orex broker that offers paypal as a method of payment. Over the years, many online businesses, including top CFD brokers, have integrated online payment merchants or e-wallets such as skrill (moneybookers), neteller , webmoney , fasapay, and astropay but also paypal as deposit and/or withdrawal options.
Similar to credit card transactions, traders can deposit funds with paypal directly into their trading account . Funds are settled immediately. Withdrawing funds from your trading account to your paypal account typically takes 2-3 business days to settle. Paypal is available in over 200 countries worldwide and allows users to hold and send funds in more than 50 currencies, including USD, EUR, GBP, CAD, JPY, INR and many more.
Paypal fees are low compared to many other methods and are suitable for traders. There are no hidden charges, which makes the use of paypal very transparent. No fees are charged monthly for processing payments and funds can be send from paypal directly to your bank account .
Are there any disadvantages of using paypal as a trader?
Due to its low fees and the fact that paypal can be used to transfer funds immediately to your own trading account, it’s a great solution for the modern trader.
The company imposes different commissions and fees in each transfer of funds that you make that can reach 3% of the total amount transacted. Other charges may apply as well, and unfortunately, their foreign exchange rates are also pretty bad.
There are no fees or costs when you withdraw funds from your trading account to your paypal wallet if the account currencies match. As an example, if your trading account is in US dollars and you also hold a US dollar wallet with paypal, the costs for cashing out the money from your trading account are zero (unless the broker you trade with applies fees). However, once you want to send these funds to your local bank account, you may be charged high fees and also unfavourable currency exchange rates.
Another setback is that paypal’s updated user agreement policies highlight that forex trading is not covered by purchase protection. This means that chargebacks are not available for forex trading. Paypal’s user agreement policies describe that stock and CFD trading, similar to gambling or igaming, is a service and requires entry payments. Therefore, it is excluded from those activities that are eligible for a reimbursement.
Which are the best forex brokers that allow paypal transactions on their platforms?
Typically, a CFD broker accepts a number of different payment methods. Credit and debit cards as well as bank wire transfers are the most common payment services made available.
However, top forex brokers offer more options such as e-wallets or even bitcoin transfers. Forex traders that open a forex account with a reputable paypal broker have yet another convenient way to deposit funds that is fast and securely.
IC markets is one of the world’s leading true ECN trading brokers that allows paypal deposits and withdrawals. IC markets is an australia-based CFD broker that is licensed and regulated by ASIC (australian securities and investments commission), offering an outstanding trading environment with a high level of web security. Minimum deposit requirements are low at only $200, and leverage can be set as high as 500:1. This forex broker offers the popular MT4 and MT5 trading platforms as well as ctrader, which is often utilized by professional traders. Their sophisticated trading environment can also be tested with a demo account.
Pepperstone is another leading forex and CFD broker that offers paypal as a deposit and payment option. Pepperstone is licensed and regulated in australia by the australian securities and investments commission (ASIC) and the financial conduct authority (FCA) in the united kingdom, providing traders with low-cost pricing across forex and other financial instruments.
Other payment methods offered by this broker are credit cards and debit cards (VISA and mastercard), neteller, skrill, poli, fasapay , QIWI, china union pay, bpay (for australian clients only), bank transfer as well as broker to broker transfers. Pepperstone’s revolutionary and unique trading platforms offer liquidity and spreads that have previously only been available to professional or institutional clients such as hedge funds and banks. Ultra-fast execution and a stable trading environment are provided to each user.
All important aspects, such as spreads, leverage (up to 400:1) and speed of execution, are at a world-class level. Their competent, award-winning customer service and account management teams are also one of the best in the industry, excelling in every possible way.
Find the best paypal forex brokers for your needs
To help you find the forex broker that is best suited to your needs, take a look at our comparison table and ranking of the best forex brokers that accept paypal above. If you require more in-depth information or are looking for more brokers to choose from, check out our detailed individual broker reviews and additional comparison tables.
Fastest withdrawal forex broker
Счета raw spread – это все, что вам нужно! Спреды от 0 пунктов, отсутствие реквотинга, манипуляций и ограничений. IC markets – отличный выбор для крупных трейдеров, скальперов, и тех, кто пользуется роботами.
Основная цель IC markets – создание лучших и наиболее прозрачных условий для розничных и корпоративных трейдеров. Оператор IC markets создан трейдерами и для трейдеров, поэтому мы делаем все для предоставления лучшего спреда, исполнения и обслуживания.
Торговля на форекс
Характеристики
О компании IC markets
Основная цель IC markets – создание лучших и наиболее прозрачных условий для розничных и корпоративных трейдеров. Оператор IC markets создан трейдерами и для трейдеров, поэтому мы делаем все для предоставления лучшего спреда, исполнения и обслуживания.
Торговля на форекс
Характеристики
О компании IC markets
The website www.Icmarkets.Com/global is operated by IC markets global an entity that is not established in the EU or regulated by an EU national competent authority. The entity falls outside the EU regulatory framework i.E. Mifid II and there is no provision for an investor compensation scheme. Please read our terms & conditions
Please confirm, that the decision was made independently at your own exclusive initiative and that no solicitation or recommendation has been made by IC markets or any other entity within the group.
**данные, полученные из независимых источников, подтверждают, что сводный недельный спред по EURUSD был лучше, чем среди 32 прямых конкурентов в секторе форекс в 96% времени в период с января по декабрь 2019 года.
***среднее время исполнения ордера, включающее его получение, обработку и подтверждение исполнения, составляет 36,5 мс.
IC markets не принимает запросы на открытие счета от жителей США, канады, израиля и исламской республики иран. Информация на этом сайте не предназначена для жителей любой страны, территории или юрисдикции, где распространение или использование такой информации противоречит местному законодательству или нормативным актам.
Risk warning: trading derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
The advice on this website is general in nature and does not take into account your objectives, financial situation or needs. You should consider whether the advice is suitable for you and your personal circumstances. Please read our legal documents and ensure you fully understand the risks before you make any trading decisions. We encourage you to seek independent advice.
The information on this site in not intended for residents of the U.S. Canada, israel, new zealand, japan and islamic of iran and use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
IC markets is an over the counter derivatives issuer, transactions are entered into on a principal to principal basis. The products issued by us are not traded on an exchange.
International capital markets pty ltd (ACN 123 289 109), trading as IC markets, holds an australian financial services licence (AFSL no. 335692) to carry on a financial services business in australia, limited to the financial services covered by its AFSL. The trading name, IC markets, used by international capital markets pty ltd is also used by other entities.
IC markets EU ltd is authorised and regulated by the cyprus securities and exchange commission with license number 362/18, registration number 356877 and with registered office at 141 omonoias avenue, the maritime centre, block B, 1st floor, 3045 limassol, cyprus.
Raw trading ltd registered in seychelles with company number: 8419879-2, trading as IC markets global, regulated by the financial services authority of seychelles with a securities dealer licence number: SD018. The website is operated by IKBK holdings ltd, registered in cyprus with registration number 362049 and registered address at 38 karaiskaki street, kanika alexander center, block 1, 1 st floor office 113B, 3032, limassol cyprus.
Best forex IB (forex introducing broker) 2021
Bestforexib.Com is your one- stop place to help you find, compare and research all forex IB (forex introducing broker) and partner program in 2020!
Forex introducing broker or forex affiliate is a partnership program offered by forex brokers which allows individuals or businesses to earn revenue by referring traders to forex brokers, partners will start receiving commissions when referred clients open an account and start trading in real market. Becoming an introducing broker is simple and straight- forward, learn all about forex ibs right now, right here.
Rebate - up to 50% of spread
Regulated by cysec, ASIC
IB rebate - up to 6$ per lot
Regulated by IFSC, cysec
Rebate - up to 80$ per lot
For forex ibs, regulation and reliability of broker is as if they are hitting two birds with one stone, here’s how: forex ibs are definitely going to have a higher rate of success in attracting clients to forex brokers that are regulated, because regulations will provide a more secure and safe environment for clients' trading activity; then again, ibs are here for prompt crediting of commissions as well as fast withdrawals, this is not going to be smooth unless a fully regulated & trusted broker is in place.
Most forex partnership programs come with certain limitations and restrictions, some strict and some easy to go with. They are set by brokers either to reduce IB commissions or to push ibs to attract more clients. At times, if such requirements are not met, IB commissions won’t be available for withdrawal. Without a doubt, this is not appealing to introducing brokers, fortunately there are fine brokers with the least or no limitation at all in order to grab all the benefits.
4 important factors to consider before choosing your introducing broker
. Forex IB commission types and definitions . Receive a fixed rebate per each lot traded by your referred clients Receive a variable rebate based on your clients trading volume Receive rebates from traders attracted by other ibs you've introduced Receive rebates from traders referred by multi- level attracted ibs Get a fixed commission amount once your client signs up and trades Receive a percent of the profits made by your referred clients - latest ibs promotions & special offers FBS ipartner contest - top 3 winners will win apple devices (imac, iphone & ipad) - newest brokers IB programs added Join upcoming forex expos Meet ibs, partners & brokers  Forex industry is now bigger than ever with many more brokers popping up, and not every broker will lead you to success in forex partnership. Your forex broker reputability is one of the most important factors in driving more clients and making more commissions. A well- known brand name with its solid history will turn your forex partnership career into a very profitable business with less effort. Moreover, ibs & partners of reputable brokers will rapidly boost their conversion rate. Forex ibs success in attracting and maintaining clients is largely dependant upon trading conditions & trading products of the broker. Among the most competitive trading conditions are lowest spreads, trade execution speed, number of trading instruments in various markets (forex, stock, futures, metals) and trading products such as trading platforms, mobile trading, depositing\withdrawal methods and additional tools provided for traders to improve their trading experience. Before diving into how much forex ibs earn, let’s get the facts straight:  Forex ibs & partners commissions earning is as follow: Forex ibs commission amount can be fixed or variable (depending on the type of partnership program), here we go with fixed amount (commission per lot) which is the most common type with standard trading accounts: Let's assume that your broker offers 10$ commission per lot for each trade of your referred client (s). You have attracted as low as 5 clients who opened\funded standard trading accounts and made the following trading activities during one month : so, let's see, what we have: fxdailyreport.Com to answer this question, you need to understand how the trading market works. Forex brokers (dealing centers or dcs) are such licensed companies that provide traders with at fastest withdrawal forex broker Contents of the article
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