| Updated: January 22, 2025The forex trading sphere is constantly growing, with an increasing number of individuals seeking to dip their toes into the global currency markets. For those considering giving forex trading a try, finding a secure and reliable payment solution at hand is crucial, and one of the most popular e-wallets is Neteller.
Neteller is a digital payment service that enables users to make fast and secure transactions online. The appeal of Neteller lies in its ability to provide a seamless and efficient way to fund trading accounts and withdraw funds. If you are considering making Neteller your payment method of choice, you can continue reading to learn more about this digital wallet and what makes it an appealing payment solution for forex trading.
Below you can find a list with Forex brokers that accept Neteller:
Top 7 Forex Brokers with Neteller
-
Global Prime
- Australia regulated broker
- Advanced MT4
- $0 Minimum Account Size
-
Fusion Markets
- Australia regulated broker
- MT4, MT5, TradingView, Ctrader
- Leverage up to 500
-
Axi
- Raw spreads start from 0.0 pips
- Offers order execution faster than standard ECN model
- Axi Select Funded Trader Program offers funding up to $1 million
Trading Instruments- Forex
- Stocks
- IPOs
- Indices
- Commodities
- Cryptocurrencies
-
Plus500
- Multi-Level Regulated Broker
- Proprietary trading platforms
- Easy to use mobile app
Trading Instruments- CFDs on: Forex
- Crypto
- Indices
- Commodities
- Stocks
- Options
- ETFs
-
eToro
- Popular broker for social trading
- Trading is conducted on innovative in-house platform
- Offers both investing and trading products
Trading Instruments- CFDs on Forex
- Stocks
- Commodities
- Crypto
- ETFs
- and Indices
-
FxPro
- NDD broker offering deep liquidity and ultra-fast execution
- Over 99% instant order executions with no requotes
- Supports MT4, MT5, cTrader, and a proprietary platform
-
IC Markets
- Offers 2,200+ tradable markets, including 61 currency pairs
- Leverage of up to 1:1000 in select jurisdictions
- EUR/USD spreads from 0.8 pips for standard accounts
Trading Instruments- CFDs on Forex
- Commodities
- Index
- Bond
- Cryptocurrencies
- Stock
- Futures
Brokers Compared by Spread
| Brand | Commission per lot | |
|---|---|---|
| Global Prime | 0.96 avg (Standard) | $0 Standard Accounts; $7 round turn on Raw Accounts |
| Fusion Markets | 0.93 avg (Classic) | $0 Classic Account, $4.50 round turn on Zero Account |
| Axi | 1.2 | $0 on Standard Account; $7 round trip on Pro Account |
| Plus500 | 1.2 | $0 |
| eToro | 1.0 | $1 or $2 (stocks only) |
| FxPro | 0.25 | $0 on Standard Account; $3.5 per side on Raw+ and Elite Accounts |
| IC Markets | 0.8 | $0 Standard MT; $6 round turn on Raw cTrader; $7 round turn on Raw MT |
FX Brokers Deposit Method Comparison
| Brand | Minimum deposit | |
|---|---|---|
| Global Prime |  |
$0 |
| Fusion Markets | |
$0 |
| Axi |  |
$0 |
| Plus500 | |
$100 |
| eToro | |
$50 or $100 based on country ($10 for the UK, $1 in the US) |
| FxPro | |
$100 |
| IC Markets | |
$200 |
Forex Brokers by Regulator
| Brand | Maximum leverage | |
|---|---|---|
| Global Prime | |
1:500 (1:30 for ASIC entity) |
| Fusion Markets | |
1:30 (1:500 for forex and metals via VFSC) |
| Axi | |
1:30 |
| Plus500 | |
1:30 |
| eToro | |
1:30 (1:400 advanced leverage at Seychelles entity) |
| FxPro | |
1:30 |
| IC Markets | |
1:30 |
Forex Brokers Platform Availability
| Brand | FX pairs to trade | |
|---|---|---|
| Global Prime | |
56 |
| Fusion Markets | |
80+ |
| Axi | |
80 |
| Plus500 | |
60+ |
| eToro | |
55 |
| FxPro | |
70+ |
| IC Markets | |
61 |
Comprehensive Comparison the Best Forex Brokers with Neteller
| Brand | Min. Deposit | Trading Platforms | Spread | Regulation | Trustpilot |
|---|---|---|---|---|---|
 |
$0 |
|
0.96 avg (Standard) |
|
|
 |
$0 |
|
0.93 avg (Classic) |
|
|
 |
$0 |
|
1.2 |
|
|
 |
$100 |
|
1.2 | ||
 |
$50 or $100 based on country ($10 for the UK, $1 in the US) |
|
1.0 |
|
|
 |
$100 |
|
0.25 |
|
|
 |
$200 |
|
0.8 |
|
What Is Neteller and is It a Viable Option for Deposits and Withdrawals at Forex Brokers?
Neteller is a pioneering e-wallet that has revolutionized the way individuals manage their online transactions, particularly in the realm of forex trading. It was launched in 1999, and now serves as a secure, efficient, and convenient platform for online transactions. With its user-friendly interface, robust security features, and versatility, Neteller is an indispensable tool for many a forex enthusiast.
One of the primary advantages of using Neteller is its transaction speeds, allowing traders to quickly and easily fund their accounts and start trading. This is particularly important in the fast-paced world of forex, where market conditions can change rapidly.
Moreover, the e-wallet supports a wide range of currencies, and it facilitates swift deposits when it comes to topping up one’s trading account. It is also suitable for cashouts, which is another major plus.
As Neteller is a wallet that, itself, needs to have its balance topped up, traders will be pleased to learn that a wide range of funding options are available, including bank transfers, bank cards, and digital wallets. Withdrawing one’s money from Neteller is also facilitated by various payment solutions.
Finally, Neteller’s user-friendly mobile interface and stand-alone app enable traders to manage their accounts on the go, providing a high level of flexibility and convenience.
How to Deposit to a Trading Account with Neteller?
When it comes to online trading, forex enthusiasts seek to manage their funds with reliable and efficient banking solutions. Neteller provides just that, and many reputable online trading brokers have integrated Neteller into their payment systems, allowing traders to deposit money quickly and easily. To initiate a deposit to a trading account using Neteller, you can follow the steps outlined below:
- First, a trader must establish a Neteller account, which involves providing basic personal and financial information. Following account verification, traders can proceed to fund their Neteller wallet using a variety of payment methods.
- When the Neteller balance has been topped up, traders can navigate to their trading account and select Neteller as the preferred deposit method.
- Once they specify how much they wish to deposit, they will be redirected to the Neteller website.
- All that is left is to confirm the transaction. Usually, a trader’s funds will be credited to their trading account swiftly, enabling them to commence trading activities without delay.
Beyond the process itself, there are some additional actions that should be highlighted. Namely, traders should review the specific deposit requirements and guidelines of their trading broker, as well as ensure that they are familiar with Neteller’s own terms and potential fees.
How to Withdraw From a Trading Account With Neteller?
Certain payment methods are deposit-only, which can be relatively frustrating for forex traders. Those who find themselves using such a method will need to withdraw via relatively slow options like bank transfers.
Thankfully, Neteller is not one such financial solution. Neteller is withdrawal-friendly, and the vast majority of brokers that support Neteller deposits also allow their clients to make withdrawal requests via Neteller. Here is a summary of the Neteller cashout process:
- Access your forex broker account using your username and password and navigate to the withdrawal section.
- Select Neteller from the available cashout solutions, and specify how much you wish to withdraw. Then, confirm that you intend to cash out.
- You will then be prompted to input your Neteller details, namely your email and password.
- Check the withdrawal details, including the amount and any applicable fees, before confirming the transaction.
- Wait for the withdrawal to be processed. How long it takes will be dependent on your broker of choice, though plenty of brokers aim to process transactions within 48 hours. Once done, the funds will be transferred to your Neteller account.
As was the case with deposits, it is advised that you consider any potential fees that might be applicable. Both your broker and Neteller itself might attach costs to withdrawals.
Neteller Fees and Limits
Like pretty much all financial solutions, using Neteller to trade forex will come with its own set of costs. Limits may also be imposed. As these can significantly impact traders’ risk tolerance, it is crucial to have a good understanding of the fees and limits before one makes Neteller their go-to payment option for forex trading.
Fees Associated With the Neteller Digital Wallet
As established, there are costs associated with Neteller itself. First and foremost, depositing into one’s Neteller account usually involves a fee, with the typical fee being 2.5%. There are a few exceptions:
- BitPay: 2%
- Bank Transfer: 0-1%
- MB WAY: 0%
- PagoEfectivo: 1%
- PayCO: 0-25%
- Paysafecard: 0-5%
Traders are also charged for withdrawals, with some cashout solutions involving flat fees, while others are percentage-based:
- Bank Transfer: $10
- Crypto: 2%
- MasterCard and Visa: 0-3.99%
- Member Wire: 12.75%
- Merchant Sites: 0%
- Money Transfer: 2.99% ($0.50 minimum fee)
- Net+ Prepaid Mastercard: 0-1.75%
- Skrill: 3.49%
Keep in mind the above will be lower if your Neteller account level is higher than Standard. In addition, there is an inactivity fee of $5 to keep in mind.
Fees and Limits Imposed by Forex Brokers
Forex brokers that support Neteller transactions often have a complex fee structure, which may potentially include deposit fees, withdrawal fees, and other charges. These fees can vary significantly between brokers. Additionally, some brokers may waive deposit fees for Neteller transactions, but charge a fee for withdrawals, which can be a flat fee or a percentage-based fee. If you are uncertain about your broker’s charges, rest assured that you can get in touch with a representative of the customer support team and ask them for further details.
Other fees tied directly to the broker are the trading costs, the main ones being:
- The Spread: This is the difference between the bid and ask price of a financial instrument. Forex spreads can fluctuate and differ greatly from broker to broker, and they also depend on what exactly you are trading. Major pairs like EUR/USD, for instance, often have spreads of under 1 pip, but minors and exotics tend to have relatively wide spreads.
- Commissions: These are costs one might incur on top of the spread. However, especially if you go with a broker’s “zero-spread” account. Note you might be exempt from such fees if you have opened a standard account with your broker of choice, however, as the costs may be built into the spread.
- Rollover Fees: Holding a position overnight will also typically result in additional charges.
As for the limits, this refers to the caps brokers may impose on deposits and cashouts. Plenty also require that traders meet “deposit/withdrawal requirements”. Minimum deposits can range from $0 to $200+ for standard accounts, but account types intended for professionals or traders with more experience will have significantly higher deposit requirements.
Security of Neteller Transactions
When engaging in Forex trading using Neteller, a paramount concern is the security of the transactions and one’s personal data. Neteller utilizes secure socket layer (SSL) encryption to secure data transmissions, as well as other advanced technologies. The company’s dedication to security is also reflected in its compliance with strict industry standards, such as PCI-DSS and ISO 27001.
We should further note that Neteller’s systems are regularly audited to identify and address any potential vulnerabilities. Its security team works closely with industry experts to stay ahead of emerging threats. In addition, Neteller provides two-step authentication to users, which serves to verify that the user attempting to log into an account is indeed its owner. The company also offers 24/7 customer support.
Traders who are hesitant to use their banking information when they trade online will enjoy the fact that no such details are needed when they use Neteller. Instead, they will only need to log into their Neteller account.
FAQs
What are the caveats of using Neteller for forex trading?
Neteller’s biggest drawback is the fees involved. As established, managing one’s Neteller balance will usually involve both deposit and withdrawal fees, and this is on top of the fees charged by your broker and whatever payment solution you use to charge your Neteller account.
Can I use Neteller for forex trading with any broker?
While many forex brokers accept Neteller, not all of them include Neteller among their accepted deposit and withdrawal solutions. It is thus essential to check what payment methods a broker supports.
When will I be charged an inactivity fee?
Neteller’s own inactivity fee applies when your account has been dormant for 6 months. As for similar charges at forex brokers, the timeframe tends to vary. Some brokers charge such a fee when the user has not executed any orders for 12 months, for example. Do note, however, that there are plenty of brokers that do not have a dormancy fee at all.
Can I use Neteller for forex trading on my mobile device?
Yes, brokers’ supported banking methods do not vary across platforms. Moreover, Neteller itself offers a mobile app that allows users to manage their accounts and make transactions on the go.
What currencies are supported by Neteller?
Neteller supports a wide range of currencies, including but not limited to EUR, AUD, INR, USD, GBP, and PHP. However, the currency you will be able to use will be dependent on where you reside.
Conclusion
All in all, Neteller will serve as an excellent deposit and cashout solution for plenty of forex enthusiasts. With its swift payment processing and robust security features, the payment method is considered quite reliable. It also happens to be relatively easy to use and is widespread when it comes to online trading.
Why You Should Trust RationalFX
When it comes to making informed decisions about forex brokers, it's essential to rely on trustworthy sources. RationalFX, a company with over 17 years of experience since its founding in 2005, has established itself as a credible authority in the industry. With an impressive collection of over 2500 reviews on Trustpilot, boasting a score of 4.2, it's clear that Rational FX has built a reputation for providing reliable and unbiased information.
What sets Rational FX apart is its rigorous evaluation process, which considers over 30 different criteria when selecting forex brokers. This comprehensive approach ensures that every aspect of a broker's service is taken in consideration, including regulation, forex spreads, trading platforms, deposit methods, and reputation. With its wealth of experience, transparent review process, and outstanding customer feedback, Rational FX is a trusted source for anyone seeking reliable information on forex brokers. You can reach us via e-mail at [email protected] or contact us through our social media accounts here: Facebook, YouTube, or leave a feedback here.