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The world of Forex offers traders many different opportunities when it comes to payment methods. Not every one of them will work for you however, so while looking for the best Forex broker, you need to focus a lot on the payment methods that they offer. You might already have some of them in mind, but in today’s guide, we will be discussing everything about SafetyPay!
Launched in 2007, SafetyPay represents a global payment solution, offering clients real-time payments in many different countries. They offer services in Europe, the US, Canada, and some countries in Latin America. It has more than 100 authorized banks around the world that they are actively working with.
How to find the best SafetyPay Forex broker?
If you are looking for the SafetyPay brokers it might take you some time. To make your job easier, we did the hard work and searched for different Forex brokers that accept this payment method. Below, you can take a look at the best Forex brokers that offer this payment method.
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 biggest advantages of using SafetyPay?
SafetyPay is one of the payment methods that offer its users safety and security that is needed so much in the world of Forex. These are some of the biggest advantages of using SafetyPay:
- You do not need credit or debit card to make payments
- You have the ability to pay in local currency
- To ensure your safety, you do not have to provide additional personal information
How do SafetyPay payments work?
SafetyPay is a global and secure internet payment method, using it is very simple. If you want to top-up the Forex trading account via SafetyPay, you will have to follow a few simple steps. First of all, choose SafetyPay as your payment method of choice while making a deposit, then, you will be redirected to the SafetyPay website associated with your country, you will choose the bak that you want to use and confirm the step.
Then, appropriate instructions will be shown on your screen, if you choose to pay in cash your payment will be finished, if you choose to pay with a bank transfer, you will continue the process and will be redirected on the internet bank. After this, you will follow the simple steps that are needed to make a payment using your bank, and the payment will be done in a few seconds.
What are the fees for deposits on the Forex trading account using SafetyPay?
There are small fees applied to the payments that you make with SafetyPay. For example, for transactions under $15, there might be an additional 0.50 cents charged per transaction.
However, the fees applied to the payments might vary according to which of the two offered payment methods you choose. In addition, SafetyPay does not charge any type of monthly fee. Fees are very important when it comes to trading, check some of the best FX brokers in that regard.
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 can this payment method be used?
SafetyPay is available in many countries around the world, including Latin America, the US, Europe, and Canada. This payment method is accepted by thousands of different companies in dozens of countries around the world, more than 1,1 billion people have the ability to enjoy the offerings of SafetyPay.
What are the available currencies?
A very important thing for Forex traders using SafetyPay as a payment method is the availability of different currencies. There are many currencies that you can use for transactions with SafetyPay, including EUR and USD. The currencies will be displayed on your screen in the national currency that your country has.
Is SafetyPay a safe way of payments?
SafetyPay works very hard to make sure that your personal information can stay safe. When you are making payment using this method, your personal information is not shown to anyone. Because of the fact that the company never collects or stores financial information, the chances for fraud or identity theft are very low.