Many people use credit cards for day-to-day transactions, favoring transaction speed and convenience.
Credit card Forex brokers offer traders a swift deposit method, making them a popular choice, especially among leveraged traders who seek a reliable and fast option to meet potential margin calls. Almost every bank offers credit cards, making them available to most traders, and most Forex brokers accept them as a deposit and withdrawal option. We researched more than 1,300 credit card Forex brokers globally and compiled a list of the best Forex brokers accepting credit cards for you. Read on to review them, plus the benefits of using credit cards as a deposit method, and what factors you should use in choosing the best Forex broker.
- FXTM, Best all-around broker with high floating leverage and fast execution.
- FP Markets, ECN trading with leverage up to 1:500.
- AvaTrade, Highly regulated, choice of fixed or floating spreads.
- Eightcap, 1:500 maximum leverage and cutting-edge trading tools.
- Pepperstone, Great ECN execution on MT4/5, cTader, TradingView and Pepperstone proprietary platform.
Best Credit Card Brokers Comparison
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Regulators | CMA, FCA, FSC Mauritius, FSCA | ASIC, CMA, CySEC, FSCA | ASIC, BVI, Central Bank of Ireland, FFAJ, FSCA, KNF, MiFID | ASIC, CySEC, FCA, SCB | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB |
Year Established | 2011 | 2005 | 2006 | 2009 | 2010 |
Execution Type(s) | ECN/STP, Market Maker | ECN/STP | Market Maker | ECN/STP, Market Maker | No Dealing Desk, NDD |
Minimum Deposit | |||||
Average Trading Cost EUR/USD | 0.1 pips | 1.2 pips | 0.9 pips | 1.0 pips | 1.1 pips |
Average Trading Cost GBP/USD | 0.2 pips | 1.4 pips | 1.5 pips | 1.2 pips | 1.4 pips |
Average Trading Cost Gold | $0.18 | $0.16 | $0.29 | $0.12 | $0.15 |
Trading Platform(s) | MetaTrader 4, MetaTrader 5, Proprietary platform | MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-based | Other, MetaTrader 4, MetaTrader 5, Proprietary platform, Web-based+ | MetaTrader 4, MetaTrader 5, Trading View | Other, MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Trading View+ |
Islamic Account | |||||
Negative Balance Protection | N/A | N/A | |||
| Visit Website | Visit Website | Visit Website | Visit Website | Get Started Visit Website75-95% of traders on margin lose |
FXTM
In Summary Best all-around broker with high floating leverage and fast executionFXTM ranks highly as a credit card Forex broker due to its low-cost structure, ranging between $0.80 and $4.00 per 1.0 standard lot, depending on monthly trading volume. Traders must deposit a minimum of $500 by credit card, and the maximum leverage is 1:500. FXTM supports Visa, Mastercard, and Maestro, among 45+ alternative and localized payment processors, with no internal deposit fees and instant execution.
Supported currencies are the Euro, the US Dollar, and the British Pound. FXTM notes withdrawal times as 24 hours, with costs of €2.00, $3.00, or £2.00.
Traders with FXTM also benefit from deep liquidity, as evidenced by minimum spreads of 0.1 pips on five currency pairs. FXTM provides audited performance statistics by PricewaterhouseCoopers Limited (PwC), confirming excellent order execution measured by slippage and requotes data. Besides upgraded MT4/MT5 trading platforms, FXTM developed its proprietary mobile app FXTM Trader.
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
- Limited choice of commodities
FP Markets
In Summary ECN trading with leverage up to 1:500FP Markets is a credit card Forex broker accepting Visa and Mastercard deposits in Australian Dollars, Canadian Dollars, Swiss Francs, Euros, British Pounds, Hong Kong Dollars, Japanese Yen, New Zealand Dollars, Singapore Dollars, US Dollars, Czech Koruna, and Polish Zloty. This makes FP Markets the broker accepting deposits in the widest range of currencies, free of internal fees, although third-party processing costs and currency conversion fees may apply.
Deposit times are instant for MT4/MT5 accounts but can take one business day through the proprietary Iress trading platform, while FP Markets processes withdrawals within 24 hours.
Forex spreads commence from 0 pips for a commission of $6.00 per 1 standard lot. Maximum leverage of 1:500 is offered, average order execution of 40 milliseconds is claimed, for a minimum deposit of $100. MT4/MT5 upgrades, VPS hosting, and order management monitoring add to potential trading benefits at FP Markets.
Pros & Cons
- Choice of trading platforms and auxiliary trading tools
- Very competitive cost structure and excellent asset selection
- Low minimum deposit requirement and leverage of up to 1:500
- Well-regulated and trustworthy
- Availability of Iress geographically restricted
AvaTrade
In Summary Highly regulated, choice of fixed or floating spreadsAvaTrade is a trusted and well-regulated credit card Forex broker with an excellent educational unit, its spun-out SharpTrader, where 40+ lessons and 200+ videos await beginner traders. Among the deposit methods offered are credit cards with instant deposits available in the US Dollar, the Euro, the British Pound, and the Australian Dollar. The minimum deposit is 100 currency units, and withdrawal processing times are between one and two business days.
AvaTrade other main strengths are a broad choice of trading platforms, high leverage, and reasonable commission-free trading costs. AvaTrade deploys its proprietary web-based trading platform for manual traders, MT4/MT5 for algorithmic traders, its mobile app AvaTradeGO, its dedicated options platform AvaOptions, and its latest addition Ava Social, joining third-party providers DupliTrade and ZuluTrade. The minimum deposit of $100 and maximum Forex leverage of 1:400 offer accessibility and increased profit potential.
Pros & Cons
- High quality educational offering via AvaAcademy
- 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
Eightcap
In Summary 1:500 maximum leverage and cutting-edge trading toolsEightcap offers credit/debit card deposits and withdrawals to Forex traders from 150+ countries using Visa and Mastercard. Since some geographic restrictions apply, Eightcap recommends that traders check with their account manager to ensure the option is available. There are no internal fees, and traders may use AUD, USD, GBP, EUR, NZD, CAD, and SGD as transaction currencies, matching supported account base currencies. The minimum and maximum transaction amounts are 100 and 4,000 currency units.
Besides instant processing times, Eightcap offers traders low trading fees, industry-leading trading platforms, and cutting-edge trading tools like Capitalise AI and Crypto Crusher, ensuring a competitive advantage.
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
Pepperstone
In Summary Great ECN execution on MT4/5, cTader, TradingView and Pepperstone proprietary platformPepperstone, founded in 2010 and headquartered and regulated in Australia, the U.K., and Dubai, is probably the most well-known ECN Forex broker in the world. As an ECN broker, Pepperstone offers raw spreads and low commissions. Taken together, Pepperstone’s “Razor” account offers one of the most competitive costs of trading in Forex that you will find anywhere. In addition to their global headquarters in Australia, Pepperstone also have presences in London, England, where they enjoy full regulation by the Financial Conduct Authority (FCA), and in Dubai, where they are regulated by the Dubai Financial Services Authority (DFSA). Pepperstone is also regulated by the Cyprus Securities And Exchange Commission (CySEC) in Cyprus, the Capital Markets Authority of Kenya (CMA) in Kenya, the Securities Commission of The Bahamas (SCB) in The Bahamas and the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) in Germany.
Pros & Cons
- Excellent choice of trading platforms consisting of MT4/MT5, cTrader, TreadingView and Pepperstone Platform
- Market-leading MT4/MT5 upgrade package, Autochartist, and API trading
- Social trading support via Signal Start, MetaTrader Signals, Copy Trading by Pepperstone, DupliTrade
- Leverage of up to 1:400 depends on jurisdiction and superb trade execution
- Demo accounts have 60-day time limits
What Factors Should Forex Traders Consider When Evaluating Credit Card Forex Brokers?
1. Regulation and Security: Trading with a regulated broker will decrease the risk of malpractice and fraud, as regulated brokers are less likely to violate rules and regulations.
2. Asset Selection: Since the asset selection differs between traders, they must ensure their credit card Forex broker offers the ones necessary to execute their trading strategies. The most liquid currency pairs are available at all Forex brokers.
3. Deposits & Withdrawals: Besides credit cards, competitive brokers will offer a range of online payment processors. Some provide traders with branded debit cards, granting swift access to their portfolios. Forex brokers should process withdrawal requests within 24 hours without levying internal fees.
4. Customer Support: It is ideal to have 24/5 customer support by a customer services representative. Many Forex brokers advertise 24/5 support but only provide it during regular business hours. A dedicated hotline to the finance department is beneficial.
5. Research and Education: While advanced traders don’t require either as it has no impact on the core trading environment, the absence of research creates a services gap and displays a lack of maturity.
6. Account Opening Process: Forex brokers should maintain a swift account opening process, taking less than 20 seconds to complete, plus AML/KYC verification. It should be free of unnecessary data collection like employment, financial, and tax history.
Why Should Forex Traders Consider Using Credit Cards as a Payment Method?
While credit cards are convenient to use, not all Forex traders should use them as they can swiftly accumulate debt. Leveraged traders should have a credit card, at least as a backup, in case of unforeseen market events leading to margin calls.
Using a credit card ensures traders can make deposits swiftly and free of currency conversion restrictions on a secure and trusted global network. Withdrawals can take between three to fifteen business days, and processing costs apply both ways. Branded debit cards provided by Forex brokers, or online payment processors, are an ideal alternative to credit cards, but availability remains limited.
Some of the most notable benefits of using credit card Forex brokers are:
- Fast processing times, usually instant deposits
- Secure payment processing on a global network
- Most Forex brokers offer credit cards as a payment option with no internal fees
- Credit card transactions are hassle-free and simple to complete
- Free of paperwork and restrictions
- Automatic currency conversion, but fees generally apply
The Protection of a Credit Card Chargeback
Regrettably, some unscrupulous Forex brokers try to cheat traders and may refuse withdrawal requests. A credit card chargeback may resolve the issue, but traders should consider this as a last resort. Most brokers allow regular withdrawals and process requests within 24 hours.
If a Forex broker refuses a legitimate withdrawal request, a Forex trader may contact their credit card issuer and request a credit card chargeback. The Forex broker has an option to dispute any chargeback and explain why it refused to process a withdrawal request. Traders should also understand that only the deposit amount qualifies for a chargeback. The Forex broker is likely to block a trader from using its services following a successful chargeback.
Four Questions Traders Should Consider When Evaluating Credit Card Forex Brokers
1. What are the fees and commissions?
Trading fees are the most defining aspect when evaluating a Forex broker, as they directly impact profitability. Many beginner traders dismiss minor differences in spreads and fall for the commission-free trap, where brokers lure traders with commission-free offers while increasing costs elsewhere.
In most cases, commission-based alternatives offer lower costs. Traders should avoid trading costs exceeding $7.00 per 1 standard lot on the most liquid currency pairs like the EUR/USD or the USD/JPY.
2. What alternative funding methods are available?
Credit cards may offer convenience when making a deposit, but withdrawal times can take up to fifteen business days. The emergence of modern online payment processors can provide a faster and cheaper alternative to credit cards.
Many traders may require their Forex profits for online payments or other transactions and use payment options supported by their broker and third parties they wish to pay, limiting unnecessary financial transactions.
3. Is customer support available 24/5?
When making credit card transactions, unexpected issues may arise. Forex brokers with a 24/5 customer support team, ideally multilingual with phone support, offers peace of mind that assistance is available when needed.
4. What is the regulatory status and track record?
A regulatory license does not eliminate risks, but it will notably decrease the risk of malpractice and fraud. Some brokers opt for a business-friendly trading environment but offer third-party protection on par with or superior to regulated brokers. A clean regulatory record is as vital as the regulation itself.
Final Thoughts
Credit card Forex brokers offer a convenient method to deposit and withdraw funds from trading accounts. They are globally accepted, but traders should consider the transaction costs and lengthy withdrawal times. Credit cards present a low-risk payment method, most banks offer them, and almost all traders have either a credit or debit card.
Before using credit cards for Forex trading, traders should evaluate modern online payment processors as an alternative. Traders must compare fees and transaction times before choosing the cheapest, fastest, and most suitable option. It is ideal to use a credit card other than the one used for your everyday spending.
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