Compare Forex brokers that accept credit cards to fund your online trading account. Understand the pros and cons of using a credit card to trade online, from your very deposit to your funding forex account credit card withdrawal.
Activate and fund your account within hours. Make direct withdrawals to your credit card. If you fund your account by credit card, you can expect your broker to request a copy of the card. We suggest sending only the front side of the card, unless requested otherwise, to keep the card security code private.
In an attempt to fight credit card fraud, some brokers set a cap on amounts you can deposit by card. The form is a statement designed to protect them against costs associated with charge backs from credit card companies in the event of fraud. This is typically deducted from the amounted deposited into your online trading account. This is standard practice but can come as a surprise to new investors. If your credit card limit is set low or your trades are highly leveraged, one or more margin calls could max out your credit card. This can have immediate consequences on your everyday life and that of your loved ones.
Know your credit card limit and manage your risks carefully when trading online with your credit card. Implement stop loss, take profit orders and other risk management strategies to cap your losses. Most brokers will only allow withdrawals to the original source of funds – whether that is a credit card, debit card or bank account. Brokers complying with anti-money laundering regulations and credit card company regulations may restrict the maximum credit card withdrawal to the amount deposited by card.