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PayCo is a very new payment solution, which started functioning just a few years ago, in 2017. Since then, it has managed to become very popular by offering safety, security, and speedy payment opportunities to its users. There are a number of Forex brokers that accept PayCo deposits and in today’s guide, we will be talking about everything on this payment method.
This online payment system allows customers to send and receive money instantly, and the payments are processed worldwide. Even though there are many benefits of using this payment method, there have been many complaints from the clients. In this guide, we will try to address all the issues that people have encountered while using PayCo deposits.
What are the best PayCo Forex brokers?
Because of its worldwide availability, there are a number of Forex brokers that accept this payment method. However, the process of looking for the best Forex brokers can take some time. To make your job a lot easier, we have come up with a list of the brokers that you can take a look 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
What are the biggest benefits of using the PayCo payment method?
There are many things to be enjoyed while depositing money on the Forex trading account via PayCo. However, there are some of them that are worth mentioning the most:
- The payments with PayCo are made instantly
- The company prides itself of being a safe and secure payment solution
- It is a very simple payment method that can be used very easily
What are the things that you should be aware of?
Even though the company claims to be a safe and fast payment method, there have been many cases where the customers have complained about not receiving their funds for many days while withdrawing funds using PayCo. Another thing that has been pointed out many times is the fact that the customer service team is mostly not as helpful as it should be, which can be a huge problem for Forex traders.
How can you create a PayCo account and where can you use it?
PayCo is a very simple payment method, using it is very easy even for those with little to no experience with Forex trading. All you need to do to create an account is to go their official website and click Sing Up, then you choose what type of account you want to register, and in a few seconds, you are done!
There are many services that PayCo offers to users, members can send and receive money through many different methods, including bank transfers, card processing, and currency exchanges. Customers can also use this payment method for bill payments, payment requests, etc.
Where is this payment method available?
The company is available worldwide and offers its services to the citizens of most countries around the world, including countries like South Korea, Japan, Germany, The United States, etc. Because of the fact that this payment method is available around the world, many FX brokers are trying to adopt it on their trading platforms.
To make sure that you trade with brokers that are the safest on the market, we have prepared a list of some of the best brokers that accept PayCo, see the list below and start trading now!
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
Is PayCo a safe payment method?
Even though there have been a number of complaints about the withdrawals made with this payment method, it still manages to offer clients a safe environment. It has adopted a two-factor authentication, which adds a two-layer security system which means that users have to go through two different verification processes. First, you will be asked to provide a username and password, the second layer is a one-time-only, which is a randomly generated code sent to you every time you try to log in.