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CashU, which mostly operates in the MENA region, was established in 2002 and since then, was able to offer clients user-friendly and accessible payment methods. In this guide, we will discuss everything about this payment method and Forex brokers that accept CashU payments.
This payment method is considered to be one of the first FinTech companies in the region and it serves more than 2,5 million customers. The company works very hard against fraud and has anti-money laundering systems that reduce the risks that might come with online payments.
What are the best CashU Forex brokers?
There are a number of Forex brokers that accept this payment method, most of them operating in the Middle East region. Below, you can take a look at some of the best Forex brokers that accept 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 benefits of using CashU for Forex trading?
There are many advantages when it comes to CashU, but here are some that stand out the most:
There are little to no fees to deposits made with CashU- CashU offers its users a safe and secure environment
- Payments are made in a few seconds
Even though there are many advantages to using this payment method, there still are some things that we would like you to keep in mind.
Probably the biggest disadvantage of using this payment method is that most of the Forex brokers offer only deposits with CashU. This means that in most cases, you will have to find other methods of payment to withdraw the money from your trading account, which can be quite uncomfortable.
How to fund a Forex trading account using CashU?
To use CashU for Forex trading, the first thing that you need to do is to get the pre-paid card. You can look up the places where you can get the card on the official website of CashU. Customers have the ability to choose between different denominations including $10, $20, $100, $300, and more.
Once you have the card, you will provide the unique 18-digit code to the Forex broker while making a deposit. In addition, you can also add funds to your CashU account with Visa and Mastercard, depending on where you are from. Once you have enough money on your CashU account, you can deposit money on your trading account. Once you have chosen CashU as your payment method, you will be redirected to another page where you will provide the number of your CashU account and your password.
In these few steps, your payment will be made!
What are the fees applied to payments made with CashU?
One of the main reasons why CashU is so popular is the fact that it is very affordable for people living in the MENA region. First of all, creating an account at CashU is totally free, while the annual maintenance only costs $1. While funding CashU account, if you use a credit card, the fee will be as much as 3,5 percent and in addition to this, some fees might be applied by the issuer of your card.
Fees are probably one of the most important things when it comes to Forex trading. Because of that, we made sure to do research and come up with the list of the brokers that accept this payment method, check them out 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
Are there any limits for payments?
The amount of money that you are able to transfer using CashU depends on the type of your account. For example, if you are using a basic account, you will not be able to spend more than $250 per month. If you are a premium member, you will be able to transfer $5,000 in one transaction, the monthly limit is $50,000.
Is Forex trading account deposit via CashU safe?
Because of the fact that CashU uses contemporary security systems, the risks of anything growing wrong is very low. Customers do not have to own any type of bank account, credit, or debit cards to use CashU and even if they own, they do not have to provide the information regarding this. Because of that, many people believe that this payment method one of the safest in the region.