Since 2011, we’ve traded with and reviewed over 200 brokers worldwide. To find the best forex brokers accepting wire transfer for you, we’ve dedicated over 50 hours per broker, exploring more than 250 factors across 9 key areas. We’ve then compared them to identify the top performers in various categories. With decades of combined experience, our team of trading experts provides reliable and trusted opinions.
One of the safest and most secure ways to deposit and withdraw funds with your broker is through a bank wire transfer. It is typically far cheaper to do so than using payment processing companies. It also bypasses some of the transaction size limitations imposed by credit and debit card companies.
However, it is important to use a broker that allows you to use a bank wire transfer with ease and without any high or hidden fees. Fortunately, our expert team has researched, identified and tested the top forex brokers accepting wire transfers for you.
Drawing on my 15-year trading experience with forex brokers, I have compiled and shared these findings below to help you find the best broker.
Our team of experts has identified each broker’s strengths and weaknesses using FX Empire’s comprehensive methodology. Here’s how we test.
Now let’s dive into the selected brokers.
FP Markets is authorized and regulated by ASIC, FSCA, snd CySEC, but also has one unregulated entity based offshore. Founded in 2005 in Sydney, Australia, it allows wire transfers in 6 currencies with zero fees, provides access to forex ECN accounts for low spreads and permits trading from the MT4, MT5 and cTrader platforms, which makes FP Markets the best overall broker to consider.
Key Features:
FP Markets offers a great range of tools and products that provide an overall excellent trading experience. I appreciated the fact that FP Markets facilitates the use of forex ECN pricing trading accounts, enabling you to benefit from tight, competitive spreads.
I was particularly impressed with the number of available trading platforms. I found that you can trade from MT4, MT5 and cTrader. These are the go-to forex trading platforms in the industry and come packed with lots of features such as in-built technical analysis indicators and drawing tools.
I also found that you can access a good range of trading tools such as Trading Central and AutoChartist. These tools provide real-time trading ideas based on technical analysis patterns which, from my own personal experience, can be a great addition to your trading arsenal.
During the course of our live fee test, we found that there are zero fees for deposits but only up to 50 USD is covered for international deposit fees for accounts greater than 10,000 USD.
Founded in 2007, IC Markets is authorized and regulated by the FSA Seychelles, CySEC, SCB and ASIC and has some of the best fees in the industry. This includes zero wire transfer fees in 9 currencies, raw pricing low spread trading accounts with low fees and zero requotes.
Key Features:
If you’re looking for rock bottom fees, then IC Markets could be an option for you. I found that the broker not only offers zero fees for deposits and withdrawals, but also provides some of the best trading fees in the business.
During the course of our live fee test, I discovered the spread for EUR/USD during the London and New York sessions averaged 0.65 pips, which is well below - nearly half - of the industry average of 1.0 pips on a commission-free trading account.
I also found that you can access even better spreads from the cTrader Raw Spread account, where spreads on EUR/USD start from 0.0 pips and average around 0.1 pips during the most active sessions. There is a commission of 3 USD per lot, per side, which is better than the industry average of 3.50 USD per lot, per side.
As IC Markets provides services geared towards high-frequency, algorithmic traders, there are also no requotes or minimum order distance restrictions which means you can place orders as close to the market price as you want – a unique feature in the industry.
Established in 2012, BDSwiss offers a top cryptocurrency trading experience with access to 26 leveraged cryptos, which can be traded from MT4, MT5 or the BDSwiss WebTrader platform. Authorized and regulated by FSA Seychelles and FSC Mauritius, BDSwiss accepts wire transfers in 8 currencies, free of charge.
Key Features:
If you’re interested in trading cryptocurrencies then you may like to know that BDSwiss offers 26 of the top major coins and altcoins to trade on via CFDs. This includes crypto pairs such as BTC/USD, ETH/USD, MANA/USD, LTC/USD, NEO/USD, SOL/USD and many others.
CFDs allow you to trade long and short to potentially profit from rising and falling markets. This product also allows you to use leverage. During our live test of BDSwiss, I found that you can trade most crypto CFDs with 20% leverage. This means you only need to put up 20% of the total trade value to open a position. I also found there are no commissions to buy or sell, and also no overnight fees to pay, making BDSwiss a top destination for crypto trading.
Founded in 1996, Swissquote is a top broker to consider for professional traders. Authorized and regulated by Switzerland’s FINMA, you can trade multiple asset classes from MT4, MT5, and Advanced Trader using additional plugins such as Trading Central and AutoChartist. Furthermore, it provides access to robo-advisory services, credit solutions and a Swiss bank account with a personal IBAN number.
Key Features:
If you are a professional trader looking for a wide range of markets, platforms, tools and services, then Swissquote could be an option for you. From our live test, I found that you can trade from the MT4 and MT5 trading platforms and access more than 450+ financial instruments covering forex, stocks, indices, commodities, bonds and FX options.
There is also the option of trading with Swissquote’s web-based platform called Advanced Trader. From testing this platform live, I particularly enjoyed how clean and responsive the charting was for a web platform and was impressed with an array of 120+ technical indicators and drawing tools available.
However, where Swissquote particularly shines for professional traders is in its selection of tradable instruments. The broker provides access to 3 million tradable products from the Swissquote web platform, including stocks, ETFs, private equity, options, futures, cryptocurrencies, IPOs, money markets, mutual funds and more.
Given this product diversity, alongside the provision of a Swiss online banking platform with a personal IBAN, Swissquote is an exceptional broker for those seeking a professional trading experience.
Founded in 2020, FlowBank has quickly become one of the leaders of Swiss bank’s offering services to retail traders. Authorized and regulated by Switzerland’s FINMA, the broker offers the opportunity to trade more than 50,000+ financial instruments from the MT4, MT5 and FlowBank Pro trading platforms, while accessing a range of impressive research tools.
Key Features:
If you are looking to trade with the safety of a Swiss bank provides, and prioritize a large range of asset classes that can be traded on multiple trading platforms then FlowBank could be an option for you. During the course of our test, I found the standard FlowBank and FlowBank Pro platforms to provide some very interesting features for traders.
The FlowBank Pro platform is the bank’s most sophisticated platform and is geared towards advanced traders. As a professional trader myself, I was impressed by the amount of tools and features the platform provides. This includes an easy to access watchlist for its 50,000+ markets, a market depth tool to identify trading volume around different price levels and a basket trader tool for building a hedged portfolio, as well as the ability to create simple and complex options chains.
Beginner traders may prefer the standard FlowBank platform which you can use via a web browser or mobile trading app. This means you can manage your account from any of FlowBank’s platforms as they are all synced together which is great when trading on the go on your mobile and then wanting to trade on your laptop.
Another interesting feature is FlowBank’s monthly cash CFD rebates. If your trade volume is between 50 – 200 million CHF in a month you can receive a rebate of 3 CHF per 1 million traded in the next month. So, if you managed to trade another 200 million CHF in volume in the next month you would receive 600 CHF as a rebate (200 * 3 = 600).
FXTM was founded in 2011 and is authorized and regulated by the UK FCA, CySEC and FSC Mauritius. On top of zero deposit fees in 3 currencies, you can trade 1,000+ instruments from the MT4 platform and access the FXTM MT4 Indicators package, providing a good MT4 package to trade the forex market.
Key Features:
If you’re interested in trading the forex market, then you may have came across the MT4 platform. It is the go-to forex trading platform and for good reason. Having used MT4 for most of my 15-year trading career, I enjoy the fact you can access multiple asset classes and use 80+ inbuilt technical indicators and drawing tools.
I found that FXTM provides you with the ability to use MT4 for PC, MAC, Web, Android and iOS operating devices. My personal favourite as a trader is the desktop version, which comes with the most amount of features such as algorithmic trading capabilities and copy trading signals.
There is a learning curve to MT4, but it is well worth it in my experience. Beginner traders may opt for the mobile app or web platform, which are easier to get started with. FXTM also provides access to an MT4 Indicators package which comes with indicators such as pivot points.
AvaTrade was founded in 2005 and is authorized and regulated by CySEC, ASIC, DBI, ISA, FSCA, BVI FSC, FSA Japan and FSRA Abu Dhabi. With zero fee wire transfers, commission-free trading accounts, a great range of educational materials and risk management tools, it represents a good option for beginners.
Key Features:
If you are a beginner trader, then you may like to know that AvaTrade offers the use of a free demo trading account, that gives you an opportunity to practice your skills in a virtual trading environment risk-free. If you are ready for a live account, then you can use a commission-free trading account, where the majority of the costs are included in the spread, making your life a lot easier.
During our live test, I was particularly impressed with AvaTrade’s risk management tool called AvaProtect. This tool allows you to get your money back on losing trades. You set the protection in advance for a small fee, which acts like a hedge. If your trade loses during this protection period, AvaTrade will cover the loss.
I found the AvaProtect feature is only available on AvaTrade’s web and mobile platform for forex, gold and silver markets. If you prefer to trade on MT4, then there is the AvaGuardian Angel plugin for the platform which can help you to identify your mistakes and help to boost your confidence in trading.
With a range of extensive educational materials such as videos, eBooks and courses AvaTrade is a top choice to consider for beginner traders.
The ability to deposit and withdraw funds as quickly and cheaply as possible is a key component to running a successful trading business. However, there are other factors, you also need to take into consideration. Some of them are discussed in the next section.
Not all financial trading brokers are equal when it comes to ensuring the safety and security of your trading execution and funds. Therefore, it is crucial to choose a broker that has the proper authorization and regulation from a recognized financial authority. This ensures that the broker adheres to the highest standards in executing your trades and looking after your funds.
Some of the world’s most common and highly rated forex and CFD regulators include the UK Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and several others.
It’s worth noting that certain brokers may establish themselves in offshore jurisdictions with lower regulatory requirements and oversight. With these types of brokers, more due diligence is required when researching how safe and secure they are.
You can check the broker’s licences and authorizations on the regulator’s online register, as well as do your own research on the broker’s history and reviews from other traders. Or you can just see our detailed guides on the best CySEC regulated brokers, best ASIC regulated brokers and best FCA regulated brokers.
Trading the financial markets involves costs. It is important to choose a broker that offers competitive fees but is also safe and secure. Here are some common factors to consider:
Ideally, you want all of these fees to be zero or as low as possible. When checking the broker’s deposit and withdrawal fees for bank wire transfers you should also check the fees for its other payment methods.
In my experience, if there are any problems with your bank, having alternative options to deposit and withdraw funds is beneficial.
Brokers typically offer a range of account options, catering to both beginners and professionals. These options may include commission-free trading accounts as well as commission-based trading accounts. It’s worth noting that accounts that have the most amount of features or best terms (such as fees) tend to come with higher minimum deposit requirements.
Conducting thorough research into each account type offered by a broker, along with the features each account includes, is a good way to identify what account aligns with your needs as a trader.
A demo account is a good starting point. Many brokers offer this type of account, which allows you to trade in a risk-free way. It’s a good way to test all of the features and services a broker provides to identify what is best for you.
Leverage enables traders to open larger positions with a smaller deposit, amplifying both profits and losses. Brokers under the supervision of well-established Tier-1 regulators, such as the UK FCA, ASIC, and CySEC are legally required to offer retail traders maximum leverage of up to 1:30 when trading forex.
In practical terms, this means you can open a position that is 30 times larger than the capital you invest. However, brokers who are regulated by offshore financial authorities may advertise higher leverage, such as 1:1000, as they have less stringent regulations to adhere to.
Exercise caution when dealing with brokers that heavily promote extremely high leverage. While it may seem appealing, Tier-1 regulators impose leverage restrictions on retail traders for a reason: to ensure a responsible, safe and risk-managed way to trade the market.
A reliable trading platform should provide fast, easy access to the world’s financial markets and a suite of trading tools for technical analysis. Here are some popular trading platforms offered by retail brokers:
MT4, MT5, and cTrader are the most common forex trading platforms offered by retail brokers. While they have a steep learning curve, they are all well worth the time spent learning, as they come packed with free indicators, tools, and support. Read more about each trading platform in our detailed guides on the best MT4 brokers, best MT5 brokers, and best cTrader brokers.
Personally, I prefer using a variety of platforms and switching between a broker’s web and a desktop platform versions. So, if one platform experiences some issues, there is another one I can use.
While I do not trade off a mobile, many people do. Test all of the platforms available to you via a demo trading account to see what works best for you and your trading style.
When selecting a forex broker, prioritize the safety and security of your funds first and foremost. To do this, here are some key things to avoid:
Brokers that are not regulated by a recognized financial body. It is wise to always opt for brokers regulated by reputable financial bodies. Unregulated brokers pose a significant risk since they lack accountability, making it difficult to gain any help in case of fraudulent activities.
A fee structure that is not clearly written on their website and terms and conditions. A good quality broker has nothing to hide. Choose brokers with transparent fee structures that clearly outline spreads, swaps, commissions, and deposit or withdrawal fees. You can test the broker with a live account using a small amount of funds first.
Marketing claims of guaranteed profits and high returns. There are now many more offshore forex brokers than ever before. As they are not regulated by a proper financial body there are no standards to what they can claim.
Unfortunately, there are many forex and CFD scams out there nowadays. However, you can protect yourself by following these simple steps:
By following these guidelines, you can navigate the forex and CFD trading world more safely and avoid falling into traps set by dishonest, scam brokers. You can also check a comprehensive list of reliable brokers by jurisdiction here.
Being at the forefront of the broker review industry, the team at FX Empire takes great pride in our ability to provide you with the best information possible to trade the financial markets. Over the years, we have fine-tuned our comprehensive 250-point data point checklist to adapt to how the markets have changed over time.
Now, our broker rating system checklist covers nine core categories which include trustworthiness, fees, platforms and tools, tradable assets, customer support, deposit and withdrawal processes, account types, research capabilities, and educational resources.
When it comes to choosing the best forex brokers that offer bank wire transfers, I have taken the valuable insights shared by our expert team and, along with my own personal trading experience, have curated the list of best brokers to consider, taking into accountthe following factors:
The team of forex and CFD analysts and editors at FXEmpire is composed of trading industry professionals and seasoned financial journalists. Our experts have been published on leading financial websites such as Investopedia and Forbes. In addition, they all have extensive trading experience.
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.
Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.
Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.
At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.