Best Forex Brokers Accepting Credit/Debit Cards 2019

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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.

HotForex

Regulated By:CySEC, DFSA, FCA, FSA, FSC, MiFID

Foundation Year:2010

Headquarters:Spyrou Kyprianou 50, Irida 3 Tower, 10th Floor, Larnaca 6057, Cyprus

Min Deposit:$5

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Your capital is at risk

Your capital is at risk

FBS

Regulated By:CySEC, IFSC

Foundation Year:2009

Headquarters:N/A

Min Deposit:$1

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Your capital is at risk

Your capital is at risk

Alpari

Regulated By:FSC

Foundation Year:1998

Headquarters:Mauritius

Min Deposit:N/A

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Your capital is at risk

Your capital is at risk

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

90% of retail CFD accounts lose money

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

76.4% of retail CFD accounts lose money

FP Markets

Regulated By:ASIC

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

Your capital is at risk

Credit/Debit Cards Forex Brokers Comparison Table

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BrokerRatingOfficial SiteRegulationsMin DepositMax LeverageTrading PlatformsFoundation YearPublicly TradedTrading Desk TypeCurrenciesCommoditiesIndicesStocksCryptoCommission on tradesFixed spreadsoffers promotionsOfficial Site
HotForex
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Your capital is at risk

CySEC, DFSA, FCA, FSA, FSC, MiFID

$5

1:1000

MT4, MT5

2010

ECN, STP

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Your capital is at risk

FBS
Visit Broker>

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

Alpari
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Your capital is at risk

FSC

$null

1:1000

MT4, MT5

1998

ECN, STP

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Your capital is at risk

FXTM
Visit Broker>

90% of retail CFD accounts lose money

CySEC, FCA, FSC

$10

1:30

MT4, MT5

2011

ECN, STP

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90% of retail CFD accounts lose money

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

FP Markets
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Your capital is at risk

ASIC

$100

1:500

IRESS, MT4, MT5

2005

DMA, ECN

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Your capital is at risk

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.

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