Contents
- 1 How to find the best Payoneer FX brokers?
- 2 What are the benefits of using Payoneer supported Forex brokers?
- 3 What are the fees applied to payments made by Payoneer to fund a Forex trading account?
- 4 Where is Payoneer available and what are the currencies that can be used while trading?
- 5 What are the Payoneer Forex brokers and why should anyone use this method as a payment method?
In today’s much-developed world, there are many different types of payment methods that are available for traders all around the world. If you are new to the field, you might have a hard time understanding everything about so many different available payment methods. In today’s guide, we will discuss everything about Payoneer so you can learn what it offers to online Forex brokers.
There is a number of Payoneer Forex brokers on the market so you have the ability to choose one that meets all of your wants and needs. But, before you go on and start trading, you might want to learn some things about Payoneer. Payoneer is a financial services provider company, that was established in 2005, it offers customers to money transfer services through an online platform.
E-Wallets have become very popular among Forex traders around the world, one of the reasons for that is that these types of payment methods offer traders the ability to transfer money to their trading accounts very easily.
How to find the best Payoneer FX brokers?
We worked very hard to make sure that you would not have to do research on your own. See a table below where you will be able to access some of the greatest Forex trading platforms online!
Licences
FCA, CySEC, IFSC, ASIC, DFSA
Min. depo
$5
Leverage
1:888
Platform
MT4, MT5, WebTrader
XM
Licences
ASIC, FSA, FSCA, FFAJ, FSRA, FSC
Min. depo
100 USD
Leverage
400:1
Platform
MT4, MT5
AvaTrade
What are the benefits of using Payoneer supported Forex brokers?
There are many different benefits of using Payoneer while trading, there is a lot to be enjoyed with Payoneer. However, this is the list of the best things that you can get with Payoneer:
- Payoneer offers its users to have a prepaid Mastercard to help you fund your trading account
- A great thing is that you do not need to have a bank account to use Payoneer
- Payoneer is available in many different parts of the world, so if you are a citizen of the country where other popular E-wallets like Paypal and Skrill are not available, Payoneer can come in handy
Are there any disadvantages?
Of course, just like anything else, Payoneer has some disadvantages that you should absolutely know before you start trading. First and foremost, Payoneer can get a little costly since receiving money has some fees depending on account types. Also, it may take some type for a customer service team to get back to you, even though they are very helpful if there is something that needs to be taken care of as soon as possible this can cause some inconvenience.
What are the fees applied to payments made by Payoneer to fund a Forex trading account?
When it comes to fees charged during depositing money on your trading account, there are several things that you should keep in mind. First of all, the amount of fees that are charged is not only depended on the payment method you are using, it can also be influenced by the broker you have chosen to trade with.
In some cases, there are no additional fees charged by Forex brokers, but some have quite high fees for payments. So, be sure to check the website of the broker that you are going to be trading before you start using them. In most cases, Forex brokers have a special page dedicated to the fees and processing times that are needed to make a payment.
Even though there are some fees charged by Payoneer, it still manages to be very competitive, especially compared to other payment methods. Creating a basic account is free of charge, also, fees charged for sending and receiving funds are pretty low. But, please always make sure that you check the website of a broker carefully before you start trading.
Although there are not so many FX brokers accepting Payoneer payments, some of the best ones still do. While working on this guide, we wanted to give you the ability to choose from the best FX brokers, you can see our list below.
XM
Min. Depo
$5
Licences
FCA, CySEC, IFSC, ASIC, DFSA
Leverage
1:888
Platforms
MT4, MT5, WebTrader
AvaTrade
Min. Depo
100 USD
Licences
ASIC, FSA, FSCA, FFAJ, FSRA, FSC
Leverage
400:1
Platforms
MT4, MT5
Exness
Min. Depo
$10
Licences
CySEC, FCA, SFSA
Leverage
1:2000
Platforms
MT4, MT5
FundedBull
Min. Depo
49 USD
Licences
N/A
Leverage
N/A
Platforms
MT4, MT5, cTrader
Forex.com
Min. Depo
$100
Licences
NFA, CFTC, FCA, FSA, IIROC and CIMA
Leverage
1:50
Platforms
WebTrader, MT4, MT5
CMTrading
Min. Depo
250 USD`
Licences
FSCA
Leverage
1:200
Platforms
MT4, WebTrader, Copykat
Plus500
Min. Depo
$100
Licences
FCA, ASIC, CySEC, FSCA, FMA, MAS
Leverage
1:30
Platforms
WebTrader, Windows 10 Trader
Where is Payoneer available and what are the currencies that can be used while trading?
Payoneer offers its services to the citizens of more than 150 countries, the great thing about it is that unlike its rivals, such as Skrill and PayPal, Payoneer is available for the countries where Forex traders can not use some of the most popular E-Wallets. Currently, there are several currencies that Payoneer users can manage. Among them are USD, EUR, GBP, CAD, AUD, JPY, and CNH.
Keep in mind that there are some fees charged while making currency exchanges, and it mostly is 0,5%. In most cases, you can manage currencies 24/7, however, there are times when some currencies can not be transferred because of the fact that some markets are closed. If this is the case, a special notice will be displayed to give you accurate and timely information.
What are the Payoneer Forex brokers and why should anyone use this method as a payment method?
Payoneer Forex broker is a trading platform that accepts payments made with a Payoneer, as simple as that. Even though Payoneer is one of the most popular electronic payment methods, there still are not so many brokers that accept this method of payment. However, because of the fact that some countries do not offer PayPal and other E-Wallet payments, Payoneer comes in handy.
In recent years, Payoneer has become a lot more popular among traders around the world. There are several reasons for that, one of them being very competitive fees charged during making deposits. In many cases, depositing money on the Forex trading account using Payoneer is free of any cost and can be done instantly.
Payoneer offers traders a great deal of privacy which can be very important in the world of Forex. You can deposit money on your Payoneer account with several different options, and after that, you can transfer money on the Forex trading account without using your card credentials. For many, this creates additional safety and security.