| Updated: January 10, 2025In the realm of foreign exchange trading, having access to a wide range of payment options is crucial for traders to efficiently manage their accounts and execute trades. Among the various payment methods available, credit and debit are staples, and prepaid cards have become increasingly popular due to their convenience and speed. Forex brokers that accept these payment methods have made it easy for traders to fund their accounts and withdraw their profits with minimal hassle.
Below you can find a list with Forex brokers that accept Credit Cards and Prepaid Cards:
Top 10 Forex Brokers with Credit Cards and Prepaid Cards
-
Fusion Markets
- Australia regulated broker
- MT4, MT5, TradingView, Ctrader
- Leverage up to 500
-
FP Markets
- Australia & CySEC regulated broker
- MT4/MT5, TradingView, Ctrader, Iress
- EUR/USD spread from 0.0 pips
Trading Instruments- Forex CFDs
- Shares CFDs
- Metals CFDs
- Commodities CFDs
- Indices CFDs
- Crypto CFDs
- ETF CFDs
-
Pepperstone
- Australia & CySEC regulated broker
- MT4/MT5, TradingView, Ctrader, Iress
- EUR/USD spread from 0.0 pips
Trading Instruments- Forex
- Indices
- Commodities
- Cryptocurrencies
- Share CFDs
- ETFs
-
Plus500
- Multi-Level Regulated Broker
- Proprietary trading platforms
- Easy to use mobile app
Trading Instruments- CFDs on: Forex
- Crypto
- Indices
- Commodities
- Stocks
- Options
- ETFs
-
Global Prime
- Australia regulated broker
- Advanced MT4
- $0 Minimum Account Size
-
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
-
XM Group
- XM provides great trading experiences using MetaTrader 4 and MetaTrader 5, which are improved by personalized features.
- Zero commission accounts are available
- Top-tier regulation from CySEC, ASIC, FSC, and DFSA oversee XM's operations, assuring transparency and client safety.
Trading Instruments- Forex
- Stocks
- Indices
- Commodities
- Thematic Indices
-
Admirals
- Trade using MetaTrader 4 and 5, as well as Admirals' specialized plugins for additional functionality.
- Access forex, shares, indices, commodities, ETFs, bonds, and cryptocurrency CFDs.
- Admirals is overseen by top-tier regulatory bodies: FCA, ASIC, CySEC, and EFSA, assuring transparency and customer security.
Trading Instruments- CFDs on Forex
- Indices
- Stocks
- Commodities
- Bonds
- ETFs
- Cryptocurrencies
-
FXTM
- Established brokerage company regulated by UK FCA, Kenya CMA, and Mauritius FSC
- MT4, MT5, Mobile Trading Platform
- $1M Lloyd’s of London account insurance
-
Vantage FX
- Broker offering some of the lowest spreads from 0.0 pips
- Operating in multiple markets under licenses from tier-1 regulators
- Provides a range of account types with great trading conditions
Trading Instruments- Forex
- Indices
- Commodities
- Shares CFD
- ETFs
- Bonds
Brokers Compared by Spread
| Brand | Commission per lot | |
|---|---|---|
| Fusion Markets | 0.93 avg (Classic) | $0 Classic Account, $4.50 round turn on Zero Account |
| FP Markets | 1.1 | $0 Standard Account; $6 round turn on Pro Account |
| Pepperstone | 1.00 (min) | $0 (Standard Account), $7 round-turn (Razor Account) |
| Plus500 | 1.2 | $0 |
| Global Prime | 0.96 avg (Standard) | $0 Standard Accounts; $7 round turn on Raw Accounts |
| Axi | 1.2 | $0 on Standard Account; $7 round trip on Pro Account |
| XM Group | 0.8 | $0 Ultra Low Micro and Ultra Low Standard Accounts; $3.50 per side XM Zero Account |
| Admirals | 0.1 | $3 per lot |
| FXTM | 0.1 | |
| Vantage FX | 0.2 | $3 per side on Raw; $1.50 per side on Pro |
FX Brokers Deposit Method Comparison
| Brand | Minimum deposit | |
|---|---|---|
| Fusion Markets |  |
$0 |
| FP Markets | |
$50 (AU$100) |
| Pepperstone | |
$0 |
| Plus500 |  |
$100 |
| Global Prime | |
$0 |
| Axi | |
$0 |
| XM Group | |
$5 |
| Admirals | |
$100 ($1 for Invest MT5 Account) |
| FXTM | |
$200 |
| Vantage FX | |
$50 |
The Best Forex Brokers by Regulator
| Brand | Maximum leverage | |
|---|---|---|
| Fusion Markets | |
1:30 (1:500 for forex and metals via VFSC) |
| FP Markets | |
1:30 |
| Pepperstone | |
1:30 |
| Plus500 | |
1:30 |
| Global Prime | |
1:500 (1:30 for ASIC entity) |
| Axi | |
1:30 |
| XM Group | |
1:30 |
| Admirals | |
1:30 |
| FXTM | |
1:2000 |
| Vantage FX | |
1:30 |
Forex Brokers Platform Availability
| Brand | FX pairs to trade | |
|---|---|---|
| Fusion Markets | |
80+ |
| FP Markets | |
70+ |
| Pepperstone | |
90+ |
| Plus500 | |
60+ |
| Global Prime | |
56 |
| Axi | |
80 |
| XM Group | |
50+ |
| Admirals | |
82 |
| FXTM | |
|
| Vantage FX | |
60+ |
Comprehensive Comparison of Forex Brokers with Credit and Prepaid Cards
| Brand | Min. Deposit | Trading Platforms | Spread | Regulation | Trustpilot |
|---|---|---|---|---|---|
 |
$0 |
|
0.93 avg (Classic) |
|
|
 |
$50 (AU$100) |
|
1.1 |
|
|
 |
$0 |
|
1.00 (min) |
|
|
 |
$100 |
|
1.2 | ||
 |
$0 |
|
0.96 avg (Standard) |
|
|
 |
$0 |
|
1.2 |
|
|
 |
$5 |
|
0.8 |
|
|
 |
$100 ($1 for Invest MT5 Account) |
|
0.1 |
|
|
 |
$200 |
|
0.1 |
|
|
 |
$50 |
|
0.2 |
|
When evaluating forex brokers that accept credit, debit, and prepaid cards, traders should consider factors such as fees, processing times, and the security measures that banking institutions and the brokers themselves employ to protect sensitive financial information. Additionally, going with licensed, reputable brokers with excellent customer support is also advised.
What Are Credit, Debit, and Prepaid Cards and Are They a Viable Option for Deposits and Withdrawals at Forex Brokers?
Bank cards of various types serve as reliable options for traders seeking hassle-free payments. Credit cards, in particular, have been the go-to option for many members of the online trading community for years, offering traders a secure and efficient way to deposit funds into their trading accounts. Major credit card brands, including VISA, Mastercard, American Express, Diners Club International, and Maestro are widely accepted by online forex brokers.
Credit cards’ viability depends on various factors, including fees, interest rates, and security measures. Moreover, the use of credit as opposed to one’s own funds can be an issue for traders prone to taking excessive risks. However, when used responsibly, credit cards can provide traders with the flexibility they need to manage their trading activities.
Debit cards, on the other hand, are an alternative for traders who prefer to use their own funds rather than credit. With debit cards, traders can directly link their bank account to their trading account, eliminating the need for credit checks and minimizing the risk of overspending. Their viability lies in their simplicity, speed, and cost-effectiveness. By using debit cards, traders can maintain control over their finances and manage their trading activities with confidence.
Prepaid cards, which are loaded with a specific amount of funds, offer an additional layer of control for traders who want to limit their spending. Prepaid cards are often offered by the issuers of Visa, Mastercard, and other popular bank card brands. You will also come across options like Paysafecard. Prepaid cards emerged as a suitable option for traders looking for a secure and controlled way to fund their accounts. Like debit cards, they allow account holders to manage their risk exposure and avoid overspending. Their one downside is having limited availability compared to debit and credit cards.
How to Deposit to a Trading Account With Credit, Debit, or Prepaid Cards?
Credit or debit cards are a convenient and efficient way to fund one’s trading account. To do so, you will need to choose a reputable forex broker that accepts credit or debit card deposits. Once you’ve selected a broker, you can follow these steps to make a deposit:
- Verify your account: Ensure that your trading account is verified and active, as this will typically be a requirement for credit or debit card deposits.
- Choose your payment method: Pick the card brand (Visa, Mastercard, etc.) and select the credit or debit card you wish to use to fund your account. Make sure the card is linked to a valid bank account and has sufficient funds.
- Enter your card details: Provide your card number, expiration date, and security code to the broker. Be sure to enter these details accurately to avoid any issues with the transaction.
- Specify the deposit amount: Determine the amount you wish to deposit into your trading account and enter this amount into the broker’s system.
- Confirm the transaction: Review the transaction details and confirm that you wish to proceed with the deposit.
Depositing via prepaid cards is similar, but in addition to cards issued by banking institutions, you will be able to choose brands like Paysafecard if you wish. These cards need to be purchased first, however, or be loaded with funds after you get them. If you have a prepaid card, all you need to do is enter the code and details into the broker’s system and specify the deposit amount. Then, confirm the transaction and the funds will be credited to your trading account.
How to Withdraw From a Trading Account With Credit, Debit, or Prepaid Cards?
Withdrawing funds from a trading account using a credit or debit card can be a straightforward process, but it’s essential to be aware of the key steps involved. Here’s a summary of the main considerations:
- Verify funding: Ensure that your trading account has been funded via a credit or debit card, as this is often a prerequisite for withdrawals. Otherwise, you will be required to cash out by using the non-bank card method you utilized to make a deposit.
- Account balance: Ensure that your trading account has sufficient funds to cover the withdrawal amount and that you have met any applicable withdrawal limits.
- Broker requirements: Familiarize yourself with the specific withdrawal procedures and guidelines set by your trading platform or broker, including any verification checks or documentation requirements. Be prepared to provide proof of identity and address, as well as other relevant information, to facilitate the withdrawal process.
- Fees and charges: Understand any applicable fees associated with credit and debit card withdrawals, including those charged by the trading platform, card issuer, or other parties.
- Timing and delays: Card-based withdrawals may incur delays, and it is advised that you check the typical processing times for your trading platform or broker.
As for prepaid cards, they are not a viable option cashouts-wise. Traders who rely on prepaid cards for deposits will need to explore alternative payment methods, such as bank transfers, traditional bank cards, or digital wallets, to withdraw their funds.
Fees and Limits
When using bank cards for online transactions, traders should be aware of the associated fees and costs. These can include foreign transaction fees, currency conversion fees, and fees charged by the broker and card issuer.
Most forex brokers accept deposits via bank cards, but associated limits vary across providers. The minimum top-up amount for credit and debit cards typically ranges from $5 to $100, although you will find brokers accepting deposits as low as $1. Minimum withdrawal limits can be low as well, and involve amounts no smaller than $10 or $5.
While there are some exceptions, deposits do not usually involve any fees charged by the broker. The presence of withdrawal fees is also broker-dependent. Some brokers offer fee-free cashouts, while others will charge clients a fixed administration fee if the withdrawal amount is higher than a certain threshold.
Prepaid card deposits are often subject to small minimums that are suitable for traders with various budgets. Additionally, the vast majority of brokers do not demand that traders pay anything when they make deposits via prepaid cards.
Since the exact fees and limits will differ from broker to broker, it is best to navigate to the FAQ or payment methods section of your broker’s website before you proceed with transactions. You may also contact the customer support team if anything appears ambiguous or confusing.
Security of Bank and Prepaid Cards Transactions
For most forex brokers that accept bank and prepaid card transactions, security is at the forefront of their priorities. This way, they can protect traders’ sensitive information and ensure that deposits and withdrawals are executed without issues.
SSL encryption, which secures data transmissions, is standard among forex brokers. A piece of technology dubbed 3D Secure (3DS) is a two-factor authentication process that adds an extra layer of protection against unauthorized transactions. Additionally, many brokers are compliant with the Payment Card Industry Data Security Standard (PCI DSS), ensuring that card data is stored and processed securely. Some brokers also offer additional security features, such as card verification value (CVV) checks and IP blocking, to prevent suspicious activity.
When it comes to withdrawals, brokers typically require traders to provide additional verification, such as proof of identity and address, to prevent money laundering and ensure the security of traders’ funds. It should be that, at most brokers, Know-Your-Customer (KYC) procedures are conducted prior to deposits as well.
Finally, we should also highlight that the financial institutions, i.e., the issuers of bank cards and prepaid cards, themselves are known for being some of the most secure entities in the world of finance.
FAQs
What currencies do bank and prepaid cards support?
Credit and debit cards support an array of currencies, including but not limited to EUR, USD, GBP, CAD, and JPY. The currency you use will be dependent on where you reside, as well as the currencies accepted by your broker. Prepaid cards tend to have a sufficient selection of supported currencies as well.
Are KYC procedures mandatory?
Yes, brokers are usually required by their local regulators to make sure that they have all relevant information about their clients. KYC procedures aim to curb illicit activities like money laundering and terrorist financing.
Can I withdraw via prepaid cards?
No, prepaid cards are not suitable for withdrawals. They are only meant to facilitate purchases at online and retail locations, and their use is limited to deposits when it comes to forex brokers.
Are there any alternatives to bank and prepaid cards?
Indeed, you will often find lots of options when you go to deposit into your forex broker account or cash out. Bank transfers are the most reliable option out there, albeit transactions tend to take longer. Then we have digital wallets like PayPal and Skrill, cryptocurrencies (Bitcoin, Litecoin, Ethereum, etc.), online banking services like Interac, and mobile payment solutions such as Apple Pay or Google Pay. Their availability varies depending on your country of residence and the brokers themselves.
How long do credit, debit, and prepaid card deposits take?
In most cases, you will not need to wait for the funds to be deposited into your account. Most credit, debit, and prepaid card deposits are instant.
Conclusion
In conclusion, credit, debit, and prepaid cards serve as excellent ways to deposit into one’s forex account, with the first two being suitable for withdrawals too. Bank cards are widely accepted by brokers across the globe, while prepaid cards have been gaining traction. They both offer reasonable transaction times, low fees, and enhanced security. Advanced security measures, such as 3D Secure and two-factor authentication, protect cardholder data and prevent unauthorized transactions.
Why Should You 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.