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The number of payment methods available for Forex traders is increasing significantly day by day. More and more applications, virtual cards, and other digital platforms for payments and transactions are emerging and they are accessible for a wider range of demographics than ever before. Today, traders have a wide variety of payment method options to choose from based on their requirements and preferences.
The present guide will explore the global payment solution, AstroPay, which stands to be a leading provider in countries with emerging economies in the regions of Africa, Latin America, Asia and etc. Our AstroPay review will closely examine the benefits and drawbacks of the platform, Forex brokers that accept AstroPay as the payment option, and further specifics of owning an Astropay digital wallet.
AstroPay was established in 2009 and is currently headquartered in the UK. Over the years, the company grew significantly and became very popular among Forex traders from many regions, with more than 2 million users currently registered with it. The unique selling point of AstroPay is that it allows citizens of different countries to make deposits in their national currencies, further reducing the cost of the payments. The payment solution is equipped with more than 200 payment methods available and around 500 merchants. Due to these reasons, the number of AstroPay supported sites are increasing regularly, as well as the list of the top Forex brokers that allow their traders to deposit and withdraw funds using AstroPay.
How to find the best AstroPay Forex broker
It is not easy to find a Forex broker that is legit, regulated, beneficial for the trader, and offering convenient payment methods at the same time. Usually, there are a lot of trade-offs when it comes to choosing a suitable broker for you. However, fortunately, due to the rapidly increasing popularity of AstroPay, many of the top brokers have included it in their payment and transaction methods. You can find the best Forex brokers accepting AstroPay deposit methods below.
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
Licences
FCA, ASIC, CySEC, FSCA, FMA, MAS
Min. depo
$100
Leverage
1:30
Platform
WebTrader, Windows 10 Trader
Plus500
What are the biggest benefits of using AstroPay
The company has extensive knowledge and experience when it comes to payment ecosystems and the complexity of it in relation to different fields, such as the Forex market. The two major pillars that AstroPay is based on are immediacy and security, guaranteeing the safest and fastest transactions of your funds. The benefits that you will enjoy the most with AstroPay are as follows:
- There are little to no fees applied to the payments made with AstroPay
- The processing time for payments is insignificant, almost instantaneous
- Safety and security of the payments is one of the biggest priorities of the company
- More than 200 payment methods are available
- Astropay exchange rate is one of the best available on the market
What are the disadvantages of using AstroPay?
Even though there are many benefits for Astropay users, there are also some things to be careful about when choosing AstroPay as your payment method for Forex trading. Many people have reported that whenever they encountered issues or bugs in the system, they could not contact the support service team. Obviously, poor customer service can be a huge problem when it comes to Forex trading because not being able to receive the help you need on time can have drastic consequences on the trader’s performance.
Where to find AstroPay supported Forex brokers
The company offers its services to many countries around the world. AstroPay was originally created for countries with emerging economies that are primary focus groups for quite a few Forex brokers. Various Forex brokers are accepting this payment method because it opens up whole new demographics to them.
This particular payment solution is available all over Africa, Asia, Latin America, and in some European countries as well. AstroPay’s pre-paid cards are very popular because they offer the safety and security that is greatly needed in these countries, and its fame only seems to be growing. For the citizens of the above-mentioned regions, we recommend following AstroPay supported sites offering brokerage services.
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
Plus500
Min. Depo
$100
Licences
FCA, ASIC, CySEC, FSCA, FMA, MAS
Leverage
1:30
Platforms
WebTrader, Windows 10 Trader
Exness
Min. Depo
$10
Licences
CySEC, FCA, SFSA
Leverage
1:2000
Platforms
MT4, MT5
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
How to use AstroPay for deposits
To top-up funds on the Forex trading account via AstroPay you need to go through a very simple process. All you need to do is to go to the deposit section on the online Forex broker platform of your choice and select AstroPay. Afterward, you will enter your AstroPay card information, including card number, security code, expiration date, the currency that you are paying in, and the amount of money you want to deposit. You will then receive a confirmation code immediately either on your phone or on your email.
However, before making a deposit on the Forex trading account via AstroPay, you need to make sure that your AstroPay card is loaded. For that, visit your account and check the balance.
Is AstroPay accepted Forex broker right for you?
Astropay payment solution comes especially in handy for those traders who are limited in obtaining internationally recognized credit cards in their countries of residence. Once again, AstroPay has access to the great majority of the countries and their national currencies, being supported by widely accepted payment methods such as Visa, Alipay, Mastercard, and PayPal.
This payment method is perfect for those who are looking for a way of secure, safe, and low-cost payment method for Forex trading, so if you are one of those people, do not hesitate to enjoy the amazing benefits that AstroPay is offering to you and join the community of Astro Forex traders!
FAQ on Astropay
What are the fees applied to the Forex deposits made with AstroPay?
In most cases, there are little to no fees charged while making deposits using AstroPay. However, there might be some fees applied to the payments that you make on your AstroPay account. If you are using a credit/debit card, the amount of fee will depend on the issuer of your card, so make sure to contact the issuer before you deposit money on your AstroPay account. Most of the popular companies such as Visa and Mastercard will allow its customers to use the cards for depositing funds on AstroPay without any additional fee or charge.
Can you transfer money from AstroPay card to bank account?
The methods for withdrawal will vary from country to region, however, in most cases withdrawals to bank accounts are possible. The withdrawal fee is 1%. Usually, your bank account will be credited instantly after the transaction, however, depending on the country or region, the regular bank transfer may require 2-4 business days of processing time in addition to the internal processing time of AstroPay, which takes a maximum of up to 2 days. However, a lot depends on your bank in terms of the processing time, it could as well take 5 working days if your bank processing time is slow. On the other hand, the option of instant banking would require only a maximum of 24 hours for the funds to be expressed on your bank account. AstroPay also allows its users to withdraw in bitcoins.
Is Astropay card safe?
Astropay virtual card is absolutely safe, as the company’s main motif is the security of the funds and users’ rights. The company has implemented one of the most reliable, secure, and tested security systems worldwide and is guaranteeing the safety of user’s personal data and payment information. Furthermore, AstroPay is requesting correct personal data entry at the stage of the registration to prevent identity theft threats. It might approach 3rd party identity-checking companies to verify your data and might ask you to submit the supporting documents that present your valid personal information.