Table of Contents
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Affiliate Disclosure adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Bank Wire Transfer Brokers

Forex traders have a wide range of payment processors to choose from, but despite low-cost and fast online options and the emergence of cryptocurrencies, most brokers make bank wires their preferred method. Bank wire brokers generally offer other payment processors, but almost all brokers require traders to withdraw profits exceeding the deposit amount made via other options via bank wires.

Learn what to look for in bank wire brokers, why all profitable traders may have to use them, and the benefits of using them, plus all you need to know about bank wires.

The ratings shown on are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Well-regulated and trusted broker operational since 2011
Commission-free deposits and withdrawals with no minimums
The ratings shown on are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Fast processing times & 24/7 payment processing
€20,000 compensation fund via the Financial Commission
The ratings shown on are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
A well-regulated broker founded in 2006 with a clean track record.
User-friendly back office and financial transactions interface
The ratings shown on are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
No minimum withdrawal requirement
Trusted broker founded in 2009 with fast processing times.

  • FXTM, Best all-around broker with high floating leverage and fast execution.
  • Exness, Tight spreads + leverage up to 1:2000.
  • AvaTrade, Highly regulated, choice of fixed or floating spreads.
  • Eightcap, Competitive pricing + excellent daily videos.

Best Bank Wire Transfer Brokers Comparison

CMA, CySEC, FCA, FSC Mauritius, FSCACBSC, CMA, CySEC, FCA, FSA, FSC Belize, FSC Mauritius, FSCAASIC, BVI, Central Bank of Ireland, FFAJ, FSCA, KNF, MiFIDASIC, CySEC, FCA, SCB
Year Established
Execution Type(s)
ECN/STP, Market MakerMarket MakerMarket MakerECN/STP, Market Maker
Minimum Deposit
$10 (based on the account type)
Average Trading Cost EUR/USD
0.1 pips0.6 pips0.9 pips1.0 pips
Average Trading Cost GBP/USD
0.2 pips0.7 pips1.5 pips1.2 pips
Average Trading Cost Gold
$0.18 12.5 pips$0.29 $0.12
Trading Platform(s)
MetaTrader 4, MetaTrader 5, Proprietary platformMetaTrader 4, MetaTrader 5, Proprietary platformOther, MetaTrader 4, MetaTrader 5, Web-based+MetaTrader 4, MetaTrader 5, Trading View
Islamic Account
Negative Balance Protection


In Summary Best all-around broker with high floating leverage and fast execution

FXTM offers bank wires and ranks high among the best bank wire brokers, as there are no minimum deposit or withdrawal amounts. Traders should consider the €30 withdrawal fee, which is the average cost industry wide. FXTM subtracts it from the withdrawal amount, meaning a trader requesting a €500 withdrawal will receive €470.

While FXTM supports bank wire deposits in USD, EUR, and GBP, only EUR withdrawals are available. Therefore, Forex traders should use a multi-currency account or consider currency conversion fees, which FXTM updates daily. Deposit processing times are three to five business days versus 24 hours for withdrawals.

Read more on FXTM »
4.9/5 in this category

Pros & Cons

  • Excellent commission-based Forex pricing environment and transparency
  • Upgraded MT4/MT5 trading platforms plus proprietary mobile trading app
  • Quality market research and educational content for beginner traders
  • A highly regulated broker with a tier-1 license
  • No cryptocurrencies and limited choice of commodities


In Summary Tight spreads + leverage up to 1:2000

Exness is one of the best bank wire brokers, featuring 24/7 payment processing for verified clients. The finance department handles all requests within 24 hours if manual verification is necessary. The average deposit and withdrawal times are only one hour, making Exness one of the fastest bank wire brokers, although it lists the maximum time as three days.

Most traders can avoid currency conversion fees, as Exness supports 80 currencies, but the minimum deposit amount is $10,000, while withdrawals have a minimum requirement of $250. The maximum single transaction for both is $250,000, and ClearBank processes all bank wires.

Read more on Exness »
4.8/5 in this category

Pros & Cons

  • Instant withdrawals, based on the payment system, from a trusted broker with numerous payment methods
  • High level of transparency and financial audits by a Big Four accountancy firm, Deloitte
  • Multi-regulated broker
  • 24/7 multi-lingual customer service
  • No education for beginners


In Summary Highly regulated, choice of fixed or floating spreads

AvaTrade is one of the best-regulated brokers, with licenses in nine jurisdictions. It supports financial transactions in AUD, USD, GBP, EUR, CHF, JPY, and ZAR. The availability is geographically restricted, meaning traders from the EEA can only use EUR or international clients USD. A currency conversion fee applies for non-supported currencies, the industry standard among most Forex brokers.

As one of the most trusted brokers, AvaTrade ranks highly among the best bank wire brokers. The minimum deposit requirement is $100, without a maximum amount, and there is no minimum withdrawal amount. Internal processing times are 24 to 48 hours.

Read more on AvaTrade »
4.6/5 in this category

Pros & Cons

  • High-quality educational offering via SharpTrader
  • Excellent choice of trading platforms catering to various trading needs
  • Broad asset selection and cross-asset diversification opportunities
  • Well-regulated and trusted broker with oversight from a central bank
  • Trading costs competitive but nothing special


In Summary Competitive pricing + excellent daily videos

The minimum deposit requirement is $100 or a currency equivalent, but unlike the other twelve payment processors available at Eightcap, it does not list a minimum amount. There is no minimum withdrawal threshold, making Eightcap one of the best bank wire brokers. Traders may use the AUD, USD, GBP, EUR, NZD, CAD, and SGD to conduct deposits and withdrawals, and the average processing time for bank wires is between one to three business days.

Eightcap is well-regulated and highly trusted in the Forex trading community, and it does not levy internal transaction fees except for potential currency conversion costs.

Read more on Eightcap »
4.5/5 in this category

Pros & Cons

  • Low minimum deposit and high leverage of up to 1:500
  • Competitive cost structure
  • Excellent technology infrastructure and seasoned management team
  • Daily research and quality educational content
  • Limited leverage in some areas

Introduction: What is a Wire Transfer?

A wire transfer refers to a transfer of capital from the bank account of traders to the bank account of brokers. Regulated brokers keep segregated bank accounts for clients, meaning they cannot access the funds for internal use. Bank wire brokers usually use the SWIFT system for international bank wires and localized methods for domestic wire transfers, like SEPA in the Eurozone, BACS in the UK, or ACH in the US.

The same applies to withdrawals, where brokers send funds from their segregated bank accounts to the bank accounts of their traders.

How Does a Bank Wire Transfer Work?

The trader must have a bank account and a Forex trading account with bank wire brokers. Since Forex brokers do not accept third-party transactions, the name on both must match. Additionally, regulated bank wire brokers only permit verified traders to conduct financial transactions.

The secure back office of bank wire brokers is where traders can initiate bank wire deposits or request withdrawals. Making financial transactions with bank wire brokers functions similarly to online banking. Some brokers provide their bank wire information, allowing traders to deposit from their bank, but the back office provides a more efficient method.

Dependent on the bank and geographic location of traders, an intermediary bank may assist with the financial transaction, which usually delays the process and incurs additional fees.

Why Use Wire Transfer as Your Deposit/Withdrawal Method?

Bank wires are the slowest and most expensive method of transferring funds between traders and brokers, but below are reasons why bank wires remain the preferred choice.

Reasons for using bank wires to deposit or withdraw include:

  • No geographic restrictions (unlike credit/debit cards or e-wallets)
  • Highest level of account security, including biometric data, making account ownership and financial transactions traceable and transparent
  • Less exposure to risk of theft, as nobody can steal a bank account, unlike credit/debit cards, while hacked accounts, like in e-wallets, are less frequent and usually the fault of users.
  • Banks implement strict AML/KYC protocols, complementing the same principles at regulated Forex brokers.

Benefits of Choosing a Broker that Accepts Wire Transfers

Forex traders should consider the benefits of using bank wire brokers, despite waiting between two and ten business days before a transaction settles, dependent on their bank and geographic location, and paying notably higher fees.

Here are the benefits of using bank wire brokers:

  • No deposit or withdrawal limits
  • Many banks offer multi-currency accounts, eliminating currency conversion fees.
  • Geographic restrictions do not apply.
  • The most secure method of transferring funds
  • Most brokers request traders to use bank wires to withdraw profits exceeding the deposit amount via other payment processors.

How to Pick a Decent Broker Offering Wire Transfers

Despite handling bank wires daily, not all brokers offer an equally efficient process. The most notable differences are processing times, which can take between two to ten business days, supported account base currencies, and currency conversion fees.

Forex traders should look for the following:

  • Fast internal processing times
  • Reimbursement of wire fees after a specific transaction amount
  • Free wire transfers
  • Account base currencies identical to the deposit currency

Wire Transfer Chargeback on Broker Account

While a wire transfer chargeback is available, dependent on the regulatory environment, traders must prove a scam was perpetrated on them to obtain one. Therefore, a wire transfer chargeback on a broker account is practically non-existent as scams are rare and hard to prove. Another reason banks approach it cautiously is that up to 90% of retail traders lose money and attempt to cheat legit brokers by claiming fraud, often due to not reading the terms and conditions, especially when accepting bonuses and incentives.

Bottom Line

Bank wires are the most secure transaction method between traders and brokers but also the slowest and most expensive. There are no geographic restrictions or withdrawal limits. Brokers usually implement deposit minimums due to high transaction fees. The most competitive bank wire brokers offer fast internal processing times and waive transaction fees for transactions exceeding a set value or offer one free bank wire monthly. Bank wire brokers also typically request that traders withdraw profits via bank wires if they exceed the deposit amount made via other payment processors.

You might also be interested in reviewing the below top brokers:


How do I deposit money into a Forex broker?


Forex brokers usually offer many payment processors as deposit options for you to choose from. Even bank wire brokers support low-cost and fast online options like e-wallets, which are often geographically restricted but offer excellent localized alternatives. More brokers have begun adding cryptocurrencies to ensure their traders have the choices and flexibility to deposit into their Forex trading accounts. Bank wires often remain the only source for withdrawals exceeding the deposit amount via alternative methods.

How do I transfer money from a Forex broker to a bank account?


Transfer money by communicating with the secure back office of bank wire brokers handles the transfer process. It functions similarly to online banking, and only verified traders can transfer money from their Forex trading account to their bank account. The name on the Forex account must also match the name on the bank account.

Can I transfer money from a trading account to my bank account?


Yes, verified traders can always send money from their Forex trading account to their bank account. The name must match both accounts, and traders must have enough free margin to cover the withdrawal amount.

Is a wire transfer the same as a bank transfer?


No, a wire transfer and a bank transfer fulfill the same function using similar methods, but there is a notable difference. A wire transfer is an electronic transfer of money between two banks using a secure network or a series of financial institutions. The two types of wire transfers are domestic and international, where the latter is also known as a remittance transfer. A bank transfer exchanges electronic information between two banks using their communication system. It extends to credit/debit card transactions and ATM withdrawals. You can think of a bank transfer more commonly used for domestic transactions and wire transfers for cross-border transactions, but not always.

Is a wire transfer the same as SWIFT?


Not exactly, the term “wire transfer” is dated and just means transfer. SWIFT is a communications network that sends payment orders, requiring settlement by corresponding institutions, like a bank wire. Therefore, SWIFT is a form of wire transfer, the most popular one in today’s global financial system.

Christopher Lewis
About Christopher Lewis

Christopher Lewis has been trading Forex for several years. He writes about Forex for many online publications, including his own site, aptly named The Trader Guy.