These licenses vary depending on the country and the type of services you intend to offer. In the US, for example, you need to obtain a license from the National Futures Association and the Commodity Futures Trading Commission . It is essential to research the regulatory requirements in your country and apply for the necessary licenses. I understand that all details provided on this application form will be held for the purpose of processing my application and for any other legitimate purpose of the company. They will be stored on the online recruitment system, entered onto the company’s computer system and will be held within a manual filing system within the provisions of the Data Protection Act 2018.

  • The benefits and advantages derived from a forex merchant account enables merchants to drive sales, grow profits and expand business.
  • No bank accounts are required to sign up to the Prepaid MasterCard, and funds are accessible within 2 hours of a payment being received onto the card.
  • The payment solution has been adopted by merchants, brokers and traders across the country, owing to the platform’s ease of use, accessibility and options for customisation.
  • One such example being, Electronic trading gaining popularity currently among retailers as the platforms serves as an easier way to trade in the forex markets.
  • Those of you who insist on keeping their card details private simply need to link their credit or debit card to their account.

Aggregated pool of liquidity from tier 1 Banks and non Bank providers which helps us ensure optimal execution for clips of any sizes. establishes strong relationships with our merchants as well as our banking partners for long term success. Trading or converting Forex carries its own risks as the values of currency can change due to all sorts of external circumstances meaning that customers could lose or gain quickly. The ability to process high volumes of international transactions using many different global currencies.

What is a forex merchant account?

First off, one of the aspects in which ePay positively does not lack is security. The company has provided a wide range of precautions to ensure that your funds will be transferred in the utmost security. Users of the payment service can benefit from one-time passwords and codes that are sent via SMS. In the unlikely event that you have become a victim of a fraud, you will be able to make use of insurance.

payment gateway for forex brokers

It is a particularly popular payment method with Brazilians that do not have bank accounts, including online traders. Alipay is the most popular e-wallet service and online payment method in China, followed by PayPal and WeChat Pay. Its primary product is the Alipay wallet app, which can be used for global and domestic payments. There is also the unique Tour Pass for foreigners and international bank account holders. Trading or converting Forex carries its own risks as the values of currency can change due to all sorts of external circumstances. Merchant accounts and Forexpayment gatewayproviders will assess potential risk vs income before issuing an account.

Accept payments from around the world

AstroPay is an online payment service that helps millions of users make transfers every day, including retail traders. Following recent investments in the UK and Europe, there is also a growing list of brokers that accept AstroPay deposits. A payment processor is an intermediary or a vendor that enables the movement of funds between brokers and traders. When it comes to Forex brokers, payment processors are even more important as, unlike other types of investments, there is typically no physical exchange of money taking place. Instead, the vendors ensure that the transactions between the trader and the merchant are instant, secure, and safe.

payment gateway for forex brokers

Security is very important when talking about online payments, so let’s say a few words about the security measures which ePay uses to safeguard the transactions and personal details of its customers. One of the ways to see to it that your payments will be carried out in utmost security is to go for payments with SMS code. Thus, each time you want to make a payment, you will receive a code that is valid for 15 minutes. Depending on your card issuer, you will need to pay a fee of 1.2% or 2% of the amount, given that your card is issued by a Bulgarian bank. If your credit card is serviced by a foreign authorization center, the fee you will need to pay is 2.9%. If you decide to move funds from another microaccount or at one of the offices of Easypay, such transactions will not cost you a dime.

FX risk management

Review of your current products and services, to see if we can offer you better solutions. An innovative approach to outsourcing that revolutionizes relationships between Forex brokers and service providers to reduce costs while ensuring maximum quality. B2Core facilitates businesses to focus on customer feedback and swiftly address issues. It offers a knowledge-based platform that can be modified according to needs, allowing clients to resolve minor concerns independently. For businesses looking to take their customer relations management systems to the next level, here is a list of the five best Forex CRM providers. Automated workflow offers a revolutionary approach to simplifying mundane tasks, harnessing technology for time and cost savings.

It offers a selection of online and in-person transaction methods, a user-friendly checkout experience, and anti-fraud monitoring. Our review will examine the main aspects of the RBK Money service for traders, forex broker payment gateway including its open-source API, payment methods, currency options, and gateway security. The Paysafe Group Limited is a multinational online payment solution for businesses, including trading brokers.

The process of transferring funds

It’s a given really, but you will need a payment gateway that can support multiple currency payments. Working with the correct payment gateway provider, will enable the risk of fraud to be kept to a minimum. NOTE – Foreign exchange businesses require a license, please have this in place prior to applying for a merchant account. will not be held liable for the loss of money or any damage caused from relying on the information on this site. Trading forex, stocks and commodities on margin carries a high level of risk and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite.

Moreover, it facilitates secure access control to critical organizational roles — so everyone is kept in sync! Business owners can now breathe a sigh of relief with this advanced, high-end back office solution. Liquidity Finder endeavors to keep all information displayed on these pages accurate and up to date but we cannot guarantee that the page will be error-free or up to date. It does not claim to be or constitute legal or other professional advice and cannot be relied upon as such.

Should my Forex Exchange Business Have a Licence Before Applying for a Merchant Account?

What guarantees the safety of your transactions is that none of your banking information will be exposed to the broker when depositing or withdrawing your profit via ePay. Once their money has appeared in the balance of their microaccount, traders will be allowed to decide if they wish to retrieve their funds back to their bank account, or they prefer to get them in cash. Those of you who prefer the second option should be aware that they can get their money at one of the offices of Easypay. Traders are unlikely to encounter any troubles when they want to initiate a withdrawal via ePay.