Are you thinking to engage in Forex trading? Are you wondering how to find a reliable Forex broker who offers a convenient deposit method? If yes, then this article is a must read for you! In this article you will be walked through how to find a reliable broker based on deposit methods, different payment methods offered by various foreign exchange brokers and exciting bonus rewards you can earn on first deposits.
Since Forex trading is web-based, many traders hesitate in giving away their personal details to online brokers, they fear it might be misused. Therefore the first step to kick-start Forex trading with a peace of mind that you’ll be trading in a secure environment is to find a trusted broker. Though there are several ways to find such a brokerage service, one of the best ways to identify a trusted service is to view the array of deposit methods it offers.
A fraudulent brokerage service usually limits investors to one or maximum two modes of payment focusing more on credit card deposit method and offers too good to be true bonus rewards on initial investments.
However, a reliable Forex broker offers a comprehensive suite of payment methods to customers to choose from according to their convenience and comfort and offers impressive rewards. You can select the mode that suits you best and make your payment to get started with currency trade.
Wide Array of Payment Methods
Here are a few of the most popular payment methods that for investors interested in currency trade to select from:
This payment method is offered by all Forex brokerage services. If you are comfortable with depositing money through your credit card, then you can select this option. Credit cards that are mostly acceptable by brokerage services include all major cards like Visa Card and MasterCard. This is because foreign engage platforms offer investors to participate in trades from across the globe and these cards have universal acceptance and can be swiped in more than 200 countries.
Besides credit cards, many foreign exchange platforms also accept debit cards. The most popular one being Maestro debit card by MasterCard.
This payment method is quite popular among VIP traders. A VIP trader invests large amounts of funds. The reason why many VIP traders choose this mode to open their trade accounts with brokerage services is because it is safe, quick and secure. Virtually all platforms offer this payment method.
If you are not comfortable with sharing your credit card details with brokers, then you can choose from other deposit alternatives too such as MoneyGram. This enables you to transfer and deposit money online into your trade account with utmost security. For this all you need to do is get in touch with a MoneyGram representative and complete the cash transfer form and send the amount with ease. There is no need to disclose your credit card number.
This is one of the leading and licensed electronic payment service that enables investors to make fund transfers with ease, security and cost-effectively. It is known as the real time payment solution which is ideal for online merchants like foreign exchange investors. Due to its wide network it enjoys great acceptance. 9/10 of the genuine brokers include PayPal in their wide array of payment services.
Just like PayPal, this is also a renowned fund transfer service. Though not all, but several Forex platforms do offer Moneybookers as a mode of payment. If you are looking for a trusted payment service then this is a good option for you as it is regulated by the FCA of United Kingdom which makes transactions secure and safe.
The fund transfer services of Neteller are also recognized by many brokerage firms and included in their payment methods. It is also regulated by the Financial Conduct Authority under the EMR (Electronic Money Regulations) 2011. To transfer your money through Neteller, all you need to do is create a Neteller account and transfer funds to the platform via online.
Welcome Bonus on First Deposits
Many Forex brokerage services offer amazing bonus rewards to investors once they make their initial investment and open their account with the service provider. This is given as a welcome bonus and is a good way to turn small deposits into a large total contract value. The bonus may be 30%, 50% or sometimes even 100% of initial investment.
Therefore when choosing a brokerage service, make sure it offers a large variety of payment methods so that you can choose a payment method according to your convenience and also offers impressive bonus rewards on first deposits.