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Choosing the right payment method for you can make your trading experience very different. There are many of them available on the market right now,
but it still seems to be very hard to decide which one to use for Forex trading. The thing is that, first, you need to understand what your needs really are.
In today’s guide, we will be discussing SEPA. SEPA is a Single Euro Payments Area, which includes all of those countries where the Euro is circulated, though with some exceptions. SEPA offers its services to a total of 36 states, which includes 27 EU member states, four members of the European Free Trade Associaton, and the United Kingdom.
SEPA is a simplification of bank transfers, which makes money transfers very easy all over the participating countries. Because of the fact that so many countries are using this payment method so actively, adopting this payment method gives Forex brokers the ability to have access to a whole new demographics.
How to find the best SEPA Forex broker?
We know how hard it can be to find the best Forex broker that fits all your needs. To make your job much easier, we have come up with a list of the best Forex brokers that use this payment method. You can check them out 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 benefits of using SEPA?
If you are living in Europe, you have most probably heard of SEPA. It is a very actively used payment method in the region, and even though there are not so many Forex brokers that offer this payment method, it still is very popular for many reasons, some of them include;
- SEPA payments are strictly monitored by European bodies, which makes it a very safe payment method
- There are different types of payments you can make with SEPA, each of them having their own benefits
- Depending on which payment method of SEPA you are using, payments might take a few seconds or even a day
- using SEPA is very easy and comfortable, payment can be done in a few minutes and everyone can do it very easily
How to deposit funds on the Forex trading account using SEPA?
Using SEPA is a very easy procedure, there are few steps you need to take and your payment will be made. First of all, once you have already found a Forex broker that offers SEPA, you should go on your trading account and click the deposit button. Then, you will choose SPEA as your deposit option and type in the amount of money you wish to deposit.
Then, you will have to choose the bank you want the deposit to come from. Once you have entered your banking details, you will be able to review the transaction details so that you can make sure that there were no mistakes made. With these few steps, the payment will be ready to be made!
What are the payment methods of SEPA that you can choose from?
There are a few different payment options that you can choose while using SEPA. The first one in the SEPA Credit Transfer, which allows you to transfer funds from one bank account to another within the same day. SEPA Instant Credit Transfer is very popular 
among users since the funds can be transferred within 10 seconds.
SEPA Direct Debit is the third option that is available at SEPA, however, you can not really use it for transferring funds to an online trading account. This is mostly used for automatic payments for bills and things like that.
Where are the services of SEPA offered?
Something that you need to remember before you start Forex trading using SEPA is that its services are offered in a limited amount of countries. Mainly, only the countries that use Euro can adopt this payment method, but even there are some restrictions.
As of today, there are 36 countries where this payment method is available. However, even from those countries, there are parts where you can not use this payment method. For example, if you are from Northern Cyprus or from Netherland’s Aruba, or Norway’s Jan Mayen, or UK’s British Overseas Territories, or several other parts of different countries, you will not be able to enjoy the services of the company. There are many popular FX brokers that accept this payment method, see some of the below on our list.
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
What are the fees applied to Forex trading top-up via SEPA?
In most cases, there are little to no fees charged when you make SEPA deposits. However, something that you need to keep in mind is that there might be some fees applied to the payments that you make from the side of your card issuer, so it is always a good idea to check the information with them before you start depositing your funds.
Fees are very important when it comes to Forex trading, and finding the payment method that offers safety, low fees, and speedy payments, is something that every trader wishes for!
Are SEPA payments safe?
Compared to other payment methods, SEPA’s Direct Debit offers users real protection. To make a payment, all you need to do is to provide your IBAN details and you will be paying directly from your bank account which significantly lowers the risks of theft. Also, banks guarantee an immediate refund in case of some type of an error while making Direct Debit, which means that with this payment method, you can feel very safe.