High Risk Payment Processing Money Transfers


Choosing the best payment gateway to suit your business needs largely depends on what size your company is. If you’re a smaller outlet, or sole trader, it may not be necessary to have a powerful payment gateway setup. That’s especially so when you consider the sort of flexibility and convenience offered by PayPal. Payment gateways are tools used by merchants to receive payments from customers. Although the software can accept transactions made by customers all over the world, your business must be registered in the US, UK, Canada, Europe or Australia if you’d like to use this service. Designed for larger firms, it offers a plethora of APIs that allow you to create your own subscription services, on-demand marketplaces, or crowdfunding platforms.

Payment Processors for Forex Business

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Integrated Credit Card Processing Systems

Every shift in foreign exchange is a risk for investors, international markets, and businesses involved. Payment processing gateways such as credit cards and e-wallets enable you to handle a significant volume of transactions in a fraction of a second. For easy setup, forex merchants can use the API documentation of the service provider.

  • Forex trading payment processing has its own challenges and needs and they must be met by a provider with experience in the field to properly service end users.
  • One of the key concerns with forex trading and forex merchant accounts is the lack of regulation.
  • 2.4%, 2.5% or 2.7% for in-person payments for Advanced, Shopify or Basic plan, respectively.
  • Payment gateways conduct large transactions in a split second by accepting multi-channel payments such as E-wallets and credit cards.
  • Business Bank Statement under company’s name and present address, showing IBAN and SWIFT – not older than 90 days from the date of application and for the last three concecutive months.

These over-the-counter transactions are performed online between traders around the world, 24 hours a day, and 5 days per week. This level of activity has attracted millions of traders, raising CONCERNS with many of the governing financial bodies. Part of the fallout from financial intervention has made forex merchant account services become a high-risk industry. Because of the risks posed by forex trading, the majority of merchant account providers stay away from trading. They avoid the risk of losing by choosing to operate with low-risk forex traders.

At MMS, our high-risk payment gateway was designed to help make the riskiest of businesses run smoothly no matter the industry or demands of their merchant account. Forex merchant accounts are the optimal service that offers the lowest costs and fastest settlements of funds, regardless of the currency. Through a brokerage’s website, traders can immediately fund their accounts and see them credited. Most consumers today have access to a credit or debit card, making it extremely simple to offer these business services to clients. Unfortunately, without an effective forex merchant account these endeavours will be ineffective. For the startup forex merchants, most payment processors will not approve their application for a merchant account.

Why Are Forex Merchant Accounts High-Risk?

Frustrated investors will often attempt, and succeed, at filing chargebacks, claiming fraudulent expenditures. Sometimes, these claims are legitimate and someone’s card was used unlawfully on a trading site. If you have some VIP traders who have higher-dollar transactions, we can accommodate that, too.

Our forex merchant services underwriters will review the business and provide feedback, usually within 24 hours. Contact one of our binary and forex payment processing specialists today to get started. Credit Card Processing; is the most sought-after online payment processing https://xcritical.com/ solution for forex brokerages however; Visa and MasterCard regulations make these solutions very unstable. Most solutions for forex merchant accounts do not last more than 6 months and once they are closed, forex credit card processing banks will keep their merchant’s funds.

Why Choose Corepay For Forex Payment Processing

With 3 out of 10 cards throughout the world branded as CUP, accepting China UnionPay will only help brokerages succeed in Asia. Additionally, they understand the risks of forex trading and offer a complete solution for the traders. They are also equipped with full payment gateways to secure your system.

Additionally, you ought to be able to provide a fully branded experience on a strong white label platform, streamlining Forex business operations. All the solution providers we work with are familiar with the Forex industry and have vast experience working in the field. The provider that you choose should have customer service options available 24 hours per day, so you can always reach someone if there are issues. Forex business owners accept payments in several varieties and currencies. Due to the market consistently changing, timing is crucial when making trades. Merchant applications are considered based on financial worries, so the higher the volume of transactions, the more it can improve your changes and balance your risk level to the processor.

Payment Processors for Forex Business

These networks maintain security and allow for consumer card issuing banks, such as the trader’s bank, to send their client’s transactions through. It’s a simple process in theory but heavily laden with services and technology to ensure the highest levels of security. EU Paymentz is a leader in the high-risk forex payment processing industry. With a specialization in setting up forex merchant accounts for brokerages around the world.

Amazon Pay: Best for streamlined checkout

Tectonic technical advancements have advanced payment processing methods around the world over the last decade. Some providers, for example, offer more subtle, non-invasive versions of 3-D Secure, so customers don’t have to deal with unpleasant pop-ups or redirections . If you don’t have any processing history to show, you can help your bank relax by incorporating 2-step authentication, such as 3-D Secure, into your checkout process. Brian has over 30 years publishing experience as a writer and editor across a range of computing, technology, and marketing titles.

Alternative FOREX payment methods can include wire transfers, cryptocurrency, and prepaid voucher or debit cards to accept payment. PurePay offers payment processing in Europe, therefore the merchant has to have a European company plus fulfillrequirementsneeded thereto which includes documents and website compliance. All forex merchant accounts are categorized with the MCC code, which help the payment processors identify the transactions and implement the laws. The first step when starting a new Forex brokerage is to have a website integrated with a Forex payment gateway so you can receive payments from traders. There are a lot of Forex payment service providers out there who offer dedicated merchant accounts and gateways. The problem with bank wires is that the brokerage relies on a third party to process their payments; they rarely receive the funds directly into their brokerage bank account.


These OTC, otherwise known as over-the-counter, transactions are performed online between traders around the world, 24 hours a day, and 5 days per week. Look for a payment processor whose merchant account and the payment gateway will support a variety of currencies and languages to give your consumers the greatest possible experience. Also, many payment methods can be used outside of the shoppers’ country.

Individuals that trade currencies on the over-the-counter market using brokers or trading platforms fall into the second category. The first is the interbank market, which is where large banks trade currencies. The second is the over-the-counter market, where individuals trade through brokers or online trading platforms. When we test payment gateways we’re always on the lookout for a system that will make life easier for a business. Therefore, any package should suit the type and size of business its targeting.


Brokerages using this option may obtain licensing in countries such as Belize or Vanuatu for $20,000-$30,000. While still expensive, countries with more strict licensing charge hundreds of thousands to millions for a license. If you’re a European Forex trader, for example, you’ll need to have a physical presence in Europe as well as be a registered foreign exchange.

Crypto transaction gateways are an innovative solution in the online payment industry, allowing users to make secure and fast transfers with low transaction fees, keeping transfers anonymous. Providing the underwriters with a complete application will help increase the approval time of the payment processing services. Similar to other types of financial products, banking organizations need to know who they are working with to prevent the risk of any illegal activities including money laundering and terrorism. Is an all-in-one payment processor that helps you process credit card payments directly from your app or website. As forex companies do not control the market interest rates, fluctuating changes may influence the decision of the most retailers in the market. A payment processing company for forex trading will set up a merchant account that is designed to deal with such eventualities.

The provision of cost benefits to traders is contingent upon the provision of low fees. In order to expand, you need to find out whether they are capable of handling large-scale international transactions. Several documents will be required to approve and set up merchant services for your brokerage. The growth of the foreign exchange markets has been due to several factors, but accessibility and technology have led the way.

All these are targeted toward helping you identify legitimate transactions, decline fraudulent ones, and block questionable ones for manual review. Choose an international money transfer service that adheres to the strictest anti-money laundering and anti-fraud measures. On top of that, the payment processor’s services need to be compliant with the payment processors for forex regulatory frameworks of each nation in which you operate. Forex echeck processing solves your brokerage’s card payment processing problems. Over the past 20 years, there has been a crackdown on anonymous financial transactions. Brokerages and banks are required to collect KYC documentation which verifies that traders are who they say they are.

Cheque Processing Accounts

As a result, in order for a broker’s merchant account to be accepted, they must submit a variety of financial documentation to the acquiring bank with whom they wish to do business. Brokers that have a merchant account can take credit cards and electronic wallet payment methods from their clients. A forex trader or foreign exchange trader; buys and sells different currencies on global currency exchanges. Known as the fx market, it is an online marketplace where all of the world’s currencies trade globally.


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