HomeForex Payment MethodsBest Western Union Forex Brokers 2021

Best Western Union Forex Brokers 2021

Western Union is a money transfer business that emphasises cross border transactions. They cover over 200 countries and territories which encourages payments from small and large businesses, NGOs, remittance payments to name a few.

Western Union has been a market leader for years and currently offers transactions in over 130 currencies. Their infrastructure can support billions of accounts and they proudly complete on average 34 transactions each second. Given that, it is certainly not a small operation.

Western Union Forex Brokers

1
Min. Deposit
$100
Exclusive promotion
Our score
10
Leverage
30:1
New accounts
Spreads
0.7
PIPs
Regulations
NFA, CFTC, FCA
Forex Pairs
No Fee
Start Trading
Pros:
Open an account in less than 5 minitues with the global Market leader since 2001
Trade on one of the world's most popular trading platforms with access to dedicated support and integrated trading tools exclusive to FOREX.com
We’ve spent over a decade investing in technology and building a deep network of liquidity partners, so we can consistently quote tight spreads in most market conditions.
Payment Methods
Debit Card, Bank Wire, ACH, Credit Card, PayPal
Full regulations list:
NFA, CFTC, FCA, FSA, IIROC, CIMA, FFA Japan, MAS, SFC of Hong Kong
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
2
Min. Deposit
$10
Exclusive promotion
Our score
9.3
Leverage
500:1
New accounts
Spreads
0.8
PIPs
Regulations
Forex Pairs
55+
No Fee
Start Trading
Pros:
55+ currency pairs available
Trade on a trusted platform
24/7 support via live chats, email or phone call
Payment Methods
Credit Card, Debit Card, Visa, Bitcoin
Full regulations list:
LonghornFX offers high-leverage trading on a wide variety of assets. Trading with leverage carries a degree of risk which may result in losing more than your investments. Clients should practise risk management to protect themselves from losing more than they can afford when trading with leverage.
3
Min. Deposit
$200
Exclusive promotion
Our score
8.7
Leverage
500:1
New accounts
Spreads
0.5
PIPs
Regulations
FSPR, FMA New Zealand
Forex Pairs
27+
No Fee
Start Trading
Pros:
BlackBull Markets’ unique feature lies in its stated goal of delivering an “institutional” trading experience to retail clients
No-Dealing Desk Broker (NDD), with Straight Through Processing (STP) all done on a true ECN
State of the art Equinix servers, based in New York (NY4), London (LD5) and Tokyo (TY3)
Payment Methods
Mastercard, Visa, Bank Transfer, Neteller, Skrill, UnionPay, FasaPay
Full regulations list:
FSPR, FMA New Zealand
4
Min. Deposit
$10
Exclusive promotion
Our score
8.5
Leverage
500:1
New accounts
Spreads
0.7
PIPs
Regulations
Forex Pairs
55+
No Fee
Start Trading
Pros:
0% Commission Account
Low Spreads
Eco-Account Option
Payment Methods
Bitcoin, Credit Card, Debit Card
Full regulations list:
Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary seek independent advice.
5
Min. Deposit
$200
Exclusive promotion
Our score
7.9
Leverage
30:1
New accounts
Spreads
1
PIPs
Regulations
CySEC, FCA
Forex Pairs
No Fee
Start Trading
Pros:
Join the Social Trading revolution. Connect with other traders, discuss trading strategies, and use our patented CopyTrader
eToro is the world’s leading social trading platform, offering a wide array of tools to invest in the capital markets
Largest number of currency pairs to trade
Payment Methods
Wire Transfer, Bank Transfer
Full regulations list:
CySEC, FCA
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. Your capital is at risk.

Why Use My Western Union Account to Deposit With a Forex Broker

Tracking Transactions

You can track any transaction, which means you can see when it drops into the target account. Should there be any issues, then there is transparency that Western Union can resolve as they have a track of it.

Therefore, when you send money with Western Union into a forex brokers account, you will know once it has landed in their account.

Speed

Whilst the speed does vary, they do offer two options when it comes to speed; Money in minutes or Money available in up to 2 days. Both have their uses, but should you want to transfer money quickly then you have the option to do so.

Security

Western Union uses upgraded security standards to protect its users from fraud when making payments online using a credit/debit card. The additional layer of security aligns with the EU regulations and helps verify a customer’s identity.

This means that depositing into a trading account is as safe as it can be, by EU regulations that is.

Reliability

Western Union was founded in 1851, so it has been around a LONG time. It has grown organically and gained a loyal and trusted customer base. One of the big reasons user stick with Western Union is the fact you can track your payments, and should there be any issues, more often than not, Western Union will resolve the issue with all your funds intact.

How to Pick a Broker That Accepts Western Union

Western Union is not a common payment method for forex brokers, the simple reason is that it is not a priority for either company. Western Union has built its business over a long period, growing with the times and are yet to really push the forex broker avenue.

Some Forex brokers still offer Western Union but not a huge amount do. That is not to say that Western Union is bad nor are the brokers that don’t accept them but more to the fact that it’s a niche neither have pursued as of yet.

There are brokers that do offer it and you can find those in the table above. We use a thorough process to identify brokers we feel are acceptable and then pass those on to you to test out. Some of the criteria we look for are as follows:

  • Regulation
  • Payment Methods
  • Fees, commission, spreads
  • Platform
  • Execution
  • Customer Support
  • Education resources

Conclusion

Western union is certainly a reputable brand that will offer secure payments across borders and given its reputation the security is likely to be very high.

The issue when it comes to depositing into forex broker accounts is that not a huge number of brokers accept Western Union. Still, we have pulled the best of those that do offer them as a payment method.

There are lots of different ways in which you can deposit into a brokers account and isn’t doesn’t (shouldn’t) affect how you trade but it is a sign that the Forex market continues to grow and that you should be aware of different brokers and the payment options they offer. If only to make sure you’re picking one that uses your preferred payment method.


FAQ

Is Western Union more secure than PayPal?

Western Union has a long history of being a secure company, and even now with the emergence of the internet and social media platforms, it still continues to keep up its secure reputation.

What are Western Union’s fees?

Western Unions fees are low when compared to competitors, ranging between 0-2.5%. No fees are charged by the broker when using Western Union, but that is also the case with pretty much every other electronic payment system. For more information about fees, see Western Union’s fees page.

How secure is my Western Union account?

Western Union is an up to date company and does use state of the art security protocols, these include Strong Customer Authentication (SCA) to ensure that online payments are secure.

Any payments will be tracked and shown at the start of the transaction, offering transparency and trust to the user.

Why don’t all Forex brokers offer Western Union?

The frank answer is that we’re not entirely sure. Western Union is a reputable company with a proven track record. The main reason looks to be the fact that it does not see this avenue as a priority for its business at the moment, who knows in a year or two we might see Western Union making a move at PayPal’s number one position.

What is a Western Union Forex broker?

A Western Union broker is a brokerage firm that trades forex and accepts transactions from the business Western Union.

How can I deposit into my Western Union account?

To deposit onto the Western Union platform, you need to link a credit/debit card or bank account to your account, once this is verified, it is up to you how much you want to deposit.

 


Additional Payment Methods Forex brokers

Paypal Forex Brokers

Skrill Forex Brokers

Neteller Forex Brokers

WebMoney Forex Brokers

Perfect Money Forex Brokers

MoneyGram Forex Brokers