Best Forex Brokers Accepting Wire Transfer 2019

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The brokers below represent best Wire Transfer Forex Brokers.

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BrokerRatingOfficial SiteRegulationsMin DepositMax LeverageTrading PlatformsFoundation YearPublicly TradedTrading Desk TypeCurrenciesCommoditiesIndicesStocksCryptoCommission on tradesFixed spreadsoffers promotionsOfficial Site
FXTM
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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

Pepperstone
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Your capital is at risk

ASIC, FCA

$500

1:500

cTrader, MT4, MT5, Zulutrade

2010

Bank, DMA, ECN, No dealing desk, STP

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Your capital is at risk

GO Markets
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Your Capital is at Risk

ASIC

$200

1:500

MT4, MT5

2006

ECN, Market Maker, No dealing desk, STP

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Your Capital is at Risk

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

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

Alpari
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Your capital is at risk

FSC

$5

1:1000

MT4, MT5

1998

ECN, STP

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Your capital is at risk

eToro
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75% of retail CFD investors lose money

ASIC, CySEC, FCA, MiFID

$200

1:30

cTrader, Currenex, eToro Platform, Keystone, Marketspulse, Mirror Trader, MT4, MT5, Tradologic, Zulutrade

2007

Market Maker, No dealing desk, STP

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75% of retail CFD investors 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

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.

Here’s a list of Best Wire Transfer Forex Brokers

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

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

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.

The MT4 and MT5 are the platforms provided by FXTM. These platforms, however, come in various versions built for the web, for desktops and for mobile devices. The FXTM MT5 is an improvement on the MT4 and can be downloaded from the MyFXTM members’ area.

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

Pepperstone

Regulated By:ASIC, FCA

Foundation Year:2010

Headquarters:Level 16, Tower One, 727 Collins St, Melbourne VIC 3008, Australia

Min Deposit:$500

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Your capital is at risk

Your capital is at risk

Pepperstone was founded in 2010 in Melbourne, Australia and has offices in 70 Gracechurch Street, London, EC3V 0HR. Pepperstone is regulated by the Australian Securities and Investments Commission (ASIC), as well as the UK’s Financial Conduct Authority (FCA). According to the broker’s website, they process an average of $12.55 billion trades every day with over 73,000 traders around the world.

Pros: Cons:
  • Competitive spreads and commissions.
  • Wide range of trading platforms across all operating systems.
  • AutoChartist and Smart Trader Tools packages free for users.
  • High regulation and multiple language customer support.
  • Educational resources section could be developed further for beginner traders.*

*Pepperstone has a beginner educational content in its YouTube channel. In addition, a new educational content section is expected to be ready on Pepperstone’s website.

GO Markets

Regulated By:ASIC

Foundation Year:2006

Headquarters:Level 22, 600 Bourke Street, Melbourne, VIC 3000, Australia

Min Deposit:$200

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Your Capital is at Risk

Your Capital is at Risk

GO Markets Pty Ltd an ASIC regulated broker has been in operation since 2006. The head office is located in Melbourne, Australia. With over a decade of experience, GO Markets has grown to become a leading broker with a huge client base from over 150 countries. GO Markets offers forex, share CFDs, indices, metals and commodities for trading on the MT4 and MT5 trading platforms.

The MT5 was designed to trade forex and CFDs and was built to offer a wider range of assets. It has similar functions to the MT4 although is more evolved and has more features. It improves on the existing features of the MT4. GO Markets provides the MT5 platform as a WebTrader and as a downloadable windows application. Only the MT5 platform can be used to trade the ASX shares offered by GO Markets.

Pros Cons
  • GO Markets is a regulated brokerage entity, which is a factor that ensures transparent trading conditions.
  • Ultra fast trade executions courtesy of innovative technology and powerful servers located in London.
  • Availability of trading and analysis tools like Autochartist and Trading central.
  • Clients’ fund segregation.
  • Demo accounts expire after 30 days, However, non-expiry demo account is available.
  • Clients from over 35 high risk and other monitored jurisdiction are not accepted, which is a lot.
  • Only two account types available for all traders.
  • Swap free offered in MENA region only.

FP Markets

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

operations, FP Markets has grown to become a foremost online forex and CFD broker.

The Head Office is located in Sydney, Australia. The brand has won multiple industry awards in areas like; customer service, trader education and trade execution. Here are some advantages of trading with FP Markets:

  • Over 10,000 trading instruments to choose from.
  • Modern trading platforms.
  • Low spreads on forex currency pairs.
  • Regulated brokerage conditions.
  • Multilingual and efficient customer support

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

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)

Alpari

Regulated By:FSC

Foundation Year:1998

Headquarters:Mauritius

Min Deposit:$5

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Your capital is at risk

Your capital is at risk

Alpari has a rich history dating back to 1998. In 2014, Alpari relaunched as Alpari International which is the business name of Exinity Limited, a company that is regulated by the Financial Services Commission (FSC) of the Republic of Mauritius. With Alpari International, users can trade on more than 250 markets via Spot, CFDs and Futures across Forex, Stocks, Indices, Metals and Cryptocurrencies.

The MetaTrader 5 trading platform offers a variety of additional features such as: MQL5 trading signals, 21 timeframe options, 38 free technical indicators and Market Depth.

Pros: Cons:
  • Wide range of trading accounts, some offering commission-free trading
  • Access Forex ECN with 1:1000 leverage
  • Trade on MetaTrader 4 and MetaTrader 5 across Desktop, Web and Mobile
  • Access the Alpari Copy Trading programme
  • Limited trader education
  • Non-existent research tools

eToro

Regulated By:ASIC, CySEC, FCA, MiFID

Foundation Year:2007

Headquarters:Kanika International Business Center 7th Floor, 4 Profiti Ilia Street Germasogeia, Limassol, Cyprus

Min Deposit:$200

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75% of retail CFD investors lose money

75% of retail CFD investors lose money

Known as one of the pioneers for social trading, eToro was established in 2007 to make financial markets more accessible to the average retail trader. The broker helped lead the way in social trading, when it introduced the revolutionary “OpenBook” trading platform to the online trading industry. The broker has also been a forerunner in the introduction of innovative financial instruments such as ‘Copy Funds”. Likewise, eToro has not been slow in offering its clients a range of cryptocurrency assets to trade with. Regulated by the Cyprus Securities & Exchange Commission (CySEC), eToro’s traders can rest assured that their funds deposited with this broker will remain safe.

Pros

  • Highly regulated broker (FCA, CySEC and ASIC)
  • Innovative trading platform
  • Wide range of assets to trade with
  • Ability to earn 2% management fee as an Investor trader
Cons

  • Spreads are higher than average
  • Does not have the MetaTrader platform

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

Sponsors of Atletico Madrid, Plus500 have made quite a name for themselves over the last few years. A UK FCA regulated firm Plus 500 is a subsidiary of Plus500 Ltd a company that is listed on the London Stock exchange. The company offers the trading of shares, forex, commoיעכdities, ETFs, options and indices across a selection of technology including the Plus500 proprietary platform.

Pros Cons
  • Leveraged trading of over 2500 financial instruments
  • Multiple regulations in different countries.
  • Tight spreads and no commissions.
  • Advanced risk management tools such as guaranteed stop and trailing stop orders.
  • No call centre to speak to
  • No educational tools
  • Very little analysis

Introduction: What is a Wire Transfer?

In forex, the bank wire transfer system is a means of transaction in which trading capital is sent from a local bank account to the forex broker’s segregated bank account to fund the trader’s trading account. It is also the way in which any profits or capital withdrawn is channeled from the broker’s segregated account to the trader’s bank account.

How Does a Bank Wire Transfer Work?

The trader must own a local bank account supported by the broker, or a domiciliary account if resident is in a country that does not use the broker’s trading currency.

  1. For deposits: After converting to the currency in which the brokerage runs the trading platform, the trader is expected to send the instructions either physically at the bank by filling a form, or via online banking, mandating the bank to send the funds to the broker’s bank account. In some countries, the use of a correspondent (intermediary) bank is mandatory. Where this is the case, the intermediary bank receives the funds and transmits same to the destination account.
  2. For Withdrawals: In case of a withdrawal from the brokerage account, the broker will transfer the value of the withdrawal request from the segregated brokerage account to the trader’s bank account. Again in some cases, an intermediary bank may be required for this transaction.

Bank wire transfers usually attract charges for the service.

Why Use Wire Transfer as Your Deposit/Withdrawal Method?

There are countries which are still restricted from using certain aspects of the international payment system. These countries are therefore barred from transacting with credit/debit cards or e-wallets on forex brokerage platforms. For traders resident in these countries, the bank wire transfer is the only way to conduct forex transactions.

Bank wire transfers are also a safe method of transaction, as money only passes from a bank account to another bank account. A credit card can be physically stolen, but a bank account cannot. Banks usually have a robust Know Your Customer (KYC) protocol and collect the physical and biometric details of their customers. It is therefore easy to track who owns an account and where such an individual is located. This gives forex brokers the confidence to allow the bank wire transfer as a globally accepted means of transaction in forex.

Benefits of Choosing a Broker that Accepts Wire Transfers

What benefits accrue to the trader from choosing a broker that accepts wire transfers?

  1. Security is a major benefit. It is a lot harder to steal bank account details than credit card or e-wallet details, especially during the transaction process.
  2. Funds sent to the broker through a bank wire transfer are not subjected to maximum deposit limits.

How to Pick a Decent Broker With Wire transfer

Every forex broker offers the wire transfer as a transaction method. The greatest issue with wire transfer is the processing time. Wire transfers typically take 2-7 business days. So you need to find a broker that offers a short processing time. Here is how to speed up the process.

  1. Consider the time zones. Process your wire transfer request a little before the broker’s business day starts. Use the world clock to know what time this translates to in your own time zone.
  2. Pick a broker that will initiate the process as soon as you make the withdrawal request.
  3. Find out if there are charges that can be paid to make your wire transfer faster.

Wire transfer Chargeback on Broker Account

There are usually no chargebacks on broker accounts using the wire transfer method.

Conclusion

To help you find the best brokers that accept bank wire transfer for both funding and withdrawing from your trading account check out the list that we have compiled. It is built on knowledge we’ve gleaned from our ongoing research into the best brokers and also from the user reviews we receive from traders that have used these brokers.

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