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If you are new to the field of Forex, you might have a hard time deciding which payment method to use. Something that you have to think about before you start trading is to understand what you are looking for in a payment method. Do you want something that is fast? Or do you care more about security?
When it comes to Forex trading, both of these aspects are very important. In today’s guide, we have decided to introduce you to Neteller Forex brokers. Neteller is a company that will offer you safe, secure, and fast payments and because of this, it represents one of the most popular payment methods in the field.
There are tens of different Forex brokers offering Neteller as a payment option, and the number of them is only growing. So, how do you find the best one out of them? Follow this guide carefully to understand what you need to be looking for in Forex brokers and what are the things that you should be most concerned about!
How to find the best Neteller FX broker?
While looking for the best Forex broker accepting Neteller payments, something that we believe that you should do is to gather all the information about the broker as possible. We wanted to make your job a little easier, so we created a table with a list of the best Forex brokers accepting 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 is Neteller and how does it work?
Neteller is one of the most popular electronic digital wallet that was established in 1999. As of today, the company is part of the PaySafe Group, which also owns the Skrill. There are several different ways you can make payments with Neteller, including:
- Neteller digital wallet
- Prepaid card
- Money transfers from verified Bank accounts
To fund a Forex account, all you have to do is to put money on your Neteller account, then start a transaction on the Neteller accepting Forex broker’s website, after being redirected, few more clicks and your payment will be made!
Why are there so many Forex brokers using Neteller as a payment method?
Neteller has managed to become one of the popular ways of payment all over the EU very fast. Because of the safety and security that it offers to its users, there are more and more emerging brokers that are offering their clients to use Neteller as a payment method.
More and more people are starting to use Neteller because it offers something that is very important in Forex trading – a very fast service. When you are trading Forex, you need to be able to always be in touch with the trading market. Imagine a situation where there are changes in the market and you do not have a payment method that you can use to fund your account quickly. The speed of the payments can be very important for Forex traders, and because of that, many are deciding to use Neteller for Forex trading.
A great thing with Neteller is that you can also use it for currency conversions for a small fee. Since it is an international provider, it also can be used for withdrawals to your local bank account, in your local currency.
Where is Neteller available and what are the accepted currencies?
There are more than 160 countries where Neteller is available, in most of the countries, it offers one of the fastest and safest ways of money transactions. Neteller also provides limited services to the citizens of Canada, Hong Kong, Israel, Macao, Singapore, and Turkey. If you live in any of these countries, even though you will be able to have a Neteller account, you won’t be able to use it to fund any gambling-related platforms.
There is a total of 27 currencies that can be used at Neteller. You can also use your Neteller account for currency conversions, however, keep in mind that there is a Foreign Exchange Fee of 3,99% that will be applied to the conversion.
What is a Currency Exchange Fee?
a currency exchange fee is a price that you pay for currency transactions. So, every exchange you make will be a subject of a fee which is 3,99%, this fee will be paid in addition to the daily interbank market rate which is provided by a third-party foreign currency data provider.
Is there any way to avoid fees?
If you wish to avoid this and many other fees, a great way is to become a VIP member. Becoming a VIP member of Neteller is a very simple process and it is based on the volume of your transactions. The more you transfer, the higher the level of VIP becomes, and as soon as the VIP level threshold is passed, you will be upgraded to a new level by Neteller automatically. There are different levels of VIP at Neteller, including Bronze VIP, Silver VIP, Gold VIP, Platinum VIP, and finally, Diamond VIP.
Neteller is pretty popular in the world of Forex. Since there are so many brokers, it might be a little tough to find the right fit for you. However, you can start trading with some of the best FX brokers on the market with the help of 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
Why should anyone use Neteller to fund a Forex trading account?
Neteller is a very simple payment method to use, because of such simplicity, it attracts many people from all over the world. A very important thing for many traders is that by using Neteller, they do not have to share their personal card details with a Forex broker!
The fact that Neteller keeps information safe is very appealing for many traders on the market. Also, when funding your FX trading account, the transaction will be made in no time! Because of such a speed, more people are deciding to use Neteller for funding Forex trading account.
Neteller offers its users a huge amount of different ways to deposit money into their Neteller account. Mostly, people prefer to use credit/debit cards or bank transfers, however, Neteller offers its users 40 different options for account funding.