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Best Forex Brokers Accepting Credit/Debit Cards 2020

FX Empire Editorial Board
Last Update:
At FX Empire, we stick to strict standards of a review process. Learn about our review process. FX Empire may receive compensation. Here’s how we make money.

If you want to trade using your credit or debit card, you’ll have to know the best brokers that accept this deposit method. FXEmpire has conducted in depth research into the Forex industry to discover the best Forex brokers that accept this payment method.

The brokers below represent the best Accepting Credit/Debit Cards Brokers.

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BrokerRatingOfficial SiteRegulationsMin DepositMax LeverageTrading PlatformsFoundation YearPublicly TradedTrading Desk TypeCurrenciesCommoditiesIndicesStocksCryptoCommission on tradesFixed spreadsoffers promotionsOfficial Site
First Prudential Markets Pty Ltd
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Your capital is at risk

ASIC, CySEC

$100

1:500

IRESS, MT4, MT5, webtrader

2005

No dealing desk

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Your capital is at risk

XTB
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79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

CNMV in Spain, CySEC, FCA, IFSC, KNF

$0

1:500

MT4, xStation 5

2002

Market Maker, STP

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79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

BDSwiss Group
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Your capital is at risk.

CySEC, FSC

$100

1:500

MT4, MT5, Proprietary, webtrader

2012

Dealing Desk, DMA, Market Maker

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Your capital is at risk.

Plus500
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76.4% of retail CFD accounts lose money

ASIC, CySEC, FCA, FSB, ISA, MAS

$100

1:30

Plus500

2008

No dealing desk

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76.4% of retail CFD accounts lose money

Pacific Financial Derivatives Limited
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Your Capital is at Risk

FMA

$0

1:300

MT4

1999

No dealing desk

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Your Capital is at Risk

FBS
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Your capital is at risk

CySEC, IFSC

$1

1:3000

MT4, MT5

2009

ECN, No dealing desk, STP

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Your capital is at risk

FXTM
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90% of retail CFD accounts lose money

CySEC, FCA, FSC

$10

1:30

MT4, MT5

2011

No dealing desk

Visit Broker>

90% of retail CFD accounts lose money

Pro Tip: Most of these brokers offer free demo accounts so you can test the brokers and their platforms with virtual money. Give it a try with some play money before using your own cash.


Note: Not all Forex brokers accept US clients. For your convenience, we specified those that accept US Forex traders as clients.

FP Markets

Regulated By:ASIC, CySEC

Foundation Year:2005

Headquarters:Level 5, Exchange House 10 Bridge St Sydney NSW 2000, Australia

Min Deposit:$100

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Your capital is at risk

This brokerage offers a massive range of tradable assets through Forex, CFD, and share trading accounts. FP Markets supports the MT4, MT5, and IRESS platforms and offers leverage up to 500:1. You can trade 45 currency pairs with competitive spread or commission pricing.

FP Markets was founded in 2005 and is headquartered in Sydney, Australia. It is regulated by the ASIC in Australia. Demo accounts are available. While it is suitable for beginners, education resources are limited. 

Pros: Cons:
  • 10,000+ tradable assets
  • Choose between 3 trading platforms
  • Competitive spread pricing on raw account
  • High spreads on the standard account
  • A range of possible additional fees
  • AU $200 minimum opening balance

XTB

Regulated By:CNMV in Spain, CySEC, FCA, IFSC, KNF

Foundation Year:2002

Headquarters:Warsaw, Poland

Min Deposit:$0

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79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

XTB is an award-winning CFD platform that supports Forex, indices, commodities, stock CFDs, ETF CFDs, and cryptocurrencies. For Forex, XTB supports 48 currency pairs with low-cost spreads. Customers of XTB can choose between trading on the xStation 5 or MT4 platforms. For leverage accounts, this brokerage offers leverage of up to 200:1.

Stock and ETF CFDs all attract a fixed commission of 0.08% per lot across the two types of accounts.

XTB was founded in 2002 with headquarters in Warsaw. It is regulated in markets across Europe by the IFSC, FCA, KNF, and CySec. XTB has a free demo account and a Trading Academy set of courses for beginner and intermediate traders.

Pros: Cons:
  • Choose between two excellent trading platforms (xStation 5 or MT4 platforms)
  • A collection of 3000+ trading instruments across six asset classes
  • Low spreads
  • Fewer Forex pairs than some top competitors
  • No 24/7 support

BDSwiss

Regulated By:CySEC, FSC

Foundation Year:2012

Headquarters:Apostolou Andrea Street 11, Hyper Tower, Limassol, Cyprus

Min Deposit:$100

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Your capital is at risk.

BDS Markets Ltd is an online financial services provider licenced and regulated by the FSC Mauritius, offering forex and CFD for trading on its online trading platforms. Its sister company BDSwiss Holding PLC is operating under CySEC licence No 199/13, Today, BDSwiss Holding PLC  is located in Limassol, Cyprus and has a Tied Agent in Germany.  Both companies belong to the BDSwiss Group of companies.

Plus500

Regulated By:ASIC, CySEC, FCA, FSB, ISA, MAS

Foundation Year:2008

Headquarters:Building 25, MATAM, Haifa, Israel

Min Deposit:$100

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76.4% of retail CFD accounts lose money

Plus500 is a leading online forex and CFD provider. The company was founded in Israel in 2008. Today, it has regional offices in UK, Cyprus, Australia and Singapore. Plus500 offers over 2,500 trading instruments that can be traded on its platforms.

Pros:

  • 2,000+  CFD products available for trading across global markets, including cryptocurrency CFDs
  • Offers guaranteed stop-loss orders
  • Multiple regulations from different countries. Regulation includes FCA, ASIC, CySEC and MAS.
  • Over 100 chart indicators are available in the web platform
Cons:

  • Lack of content and news headlines
  • Lack of Trader Education to clients
  • No phone support offered

Pacific Financial Derivatives

Regulated By:FMA

Foundation Year:1999

Headquarters:Level 8, 12-26 Swanson Street, Auckland Central, Auckland 1010

Min Deposit:$0

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Your Capital is at Risk

Pacific Financial Derivatives Ltd (PFD) is a global online broker that operates from Auckland in New Zealand. The broker was established in 1999 by an experienced Japanese investor who has a similar business in his native country. The brokerage offers Forex, indices and commodities for trading on its platforms. With many years experience in the business, PFD has become a globally established brand.

Pros Cons
  • Broker is regulated by the FMA in New Zealand.
  • Well-established broker with over 15 years experience.
  • Low trading fees and charges.
  • The provided demo account expires after 15 days.
  • The education suite provided is obviously inadequate.
  • There are no bonuses, promotions or incentives to encourage the trader.

FBS

Regulated By:CySEC, IFSC

Foundation Year:2009

Headquarters:N/A

Min Deposit:$1

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Your capital is at risk

FBS Markets Inc. is a Forex and CFD broker that offers its services across the globe. The company was established in 2009 and since then, the brand has grown in size, capacity and technology. It offers currency pairs, CFDs, stocks, metals and cryptocurrencies on MT4 and MT5 platforms.

FBS Markets offers 37 currency pairs, 4 metals, 3 CFDs, 4 cryptocurrencies and 32 stocks.

FBS provides the MT4 and MT5 trading platforms as WebTrader, desktop applications and mobile applications. For leverage accounts, this brokerage offers leverage of up to 3000:1.

Pros Cons
  • Broker is regulated by CySEC and the IFSC
  • Access to investor compensation in case of broker fraud
  • Comprehensive trader education
  • Good variety of research tools
  • Low capital requirements for account opening
  • Spreads are higher than many retail brokers
  • Regulation of global brand is not as robust as the EU brand
  • Leverage offered on global brand is too high (careful risk management is a must)

FXTM

Regulated By:CySEC, FCA, FSC

Foundation Year:2011

Headquarters:FXTM Tower, 35 Lamprou Konstantara, Kato Polemidia, 4156, Limassol, Cyprus

Min Deposit:$10

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90% of retail CFD accounts lose money

FXTM is also known as ForexTime, and commenced operations in 2011 from its de facto headquarters in Limassol, Cyprus. Since then, FXTM has achieved rapid global expansion, driven primarily by its desire to serve specific local markets with strong FX demand.

Pros Cons
  • Highly regulated by leading regulators FCA and CySEC
  • Access to both MT4 and MT5
  • An amazing selection of analysis and news
  • A solid educational offering
  • Both ECN and standard accounts available
  • Not the lowest spreads on the standard account

Introduction to Forex Brokers Accepting Credit/Debit Cards

Credit card forex brokers are those forex brokers that include the option of using credit and debit cards to deposit and withdraw funds from a forex trading account. The commonly used cards are those issued by MasterCard, VISA, Diner’s Club, American Express, China UnionPay, and a host of others.

Why Use Credit/Debit Card as your Deposit/Withdrawal method?

Before the advent of credit/debit cards as transaction methods on forex platforms, traders had to depend on bank wires to deposit funds into their accounts, or withdraw profits from their accounts. This method was slow, subject to a lot of paperwork, and users had to cope with all manner of restrictions imposed by bank regulators. For instance, some countries have limits on how much foreign currency could be transferred into or out of the country. These restrictions took the joy out of trading forex.

But once the credit card forex brokers came on stream, things changed. With credit/debit cards, transactions became faster and less cumbersome. It became possible for a trader to deposit funds on Monday, trade on Tuesday and Wednesday, and withdraw profits on Thursday, just in time to catch the weekend groove on Friday to Sunday. Some brokers also offer options that allow the issuance of specialized prepaid cards which could be used for shopping on merchant sites using withdrawals from forex accounts.

Benefits of Choosing a Broker That Accepts Credit Card

There are several benefits.

  • Speed of Transactions: Deposits made with credit cards to a forex account are processed instantly. So you can actually spot a market opportunity at 8am with no money in your trading account, deploy your credit/debit card at 8.01am, and by 8.05am, you are already trading that position. You cannot do this if a bank wire is your only means of transaction.
  • Card verification processes make it safe to use your card for deposits.
  • Credit card brokers also issue specialized prepaid cards that can be used for shopping and at POS terminals.
  • Speed and ease of withdrawals is guaranteed.

How to Pick a Decent Credit Card Forex Broker

Nearly all brokers in forex now offer credit cards as a means of transaction, but many of them do not serve users in certain countries. The issue here for the trader, is picking a credit card forex broker which serves the trader’s country of residence. Talking to the customer service desks of the various credit card forex brokers will enable the trader sift out the good one(s). Of course equally important is working with a regulated broker. This will bring you protection in the form of an investor compensation scheme should the broker become insolvent, broker security and transparency too in the form of segregated bank accounts for clients and the company.

Credit Card Chargeback on Broker Account

Some traders have had issues with brokers forcefully taking deposits on credit card details that have been stored on file. Though not common in forex, it may happen occasionally. The trader has a powerful tool which can be used to reverse this: the credit card chargeback. Where money has been taken by the broker from the trader’s credit card, a chargeback process can be used to dispute this transaction. There are rules to the chargeback process. The trader should check with the credit card company to know what is allowed or not allowed within the context of the chargeback process.

Conclusion

As outlined above there are many benefits to depositing funds using your debit or credit card. So how can you know which of these brokers to work with? We’ve narrowed the options down to a list of the very best and most trusted brokers, compiled from our objective user reviews and independent study.

Read More:

Trade With A Regulated Broker

  • Your capital is at risk