Best Worldpay Brokers 2024

Worldpay is a globally recognised technology solution with 25+ years in payment processing. It has also been integrated by several trading brokers in the UK. This guide will cover its use as a secure payment gateway for online trading, including typical transaction fees and how to deposit to live investing accounts. We also list the top brokers that accept Worldpay deposits and withdrawals.

About Worldpay

Worldpay was founded in 1989 as an electronic payments system called Streamline, before being acquired by RBS in 2002. The company was listed on the London Stock Exchange until early 2018 after an acquisition by Vantiv. The latest merger was with Fidelity National Information Services (FIS), following a successful acquisition in 2019.

Worldpay is a leading e-commerce and point-of-sale payment processing gateway that supports almost 500,000 merchants in over 140 countries. It is also one of the UK’s top payment providers, selected as a trusted brand by over 250,000 businesses, including brokers like FXTM and XM.

How Worldpay Works

Worldpay brokers must register for a virtual merchant account before they can accept trading deposits. Companies can then use the full suite of branded services to accept money via e-commerce software.

Payments can be made directly through the broker’s website or via their mobile app. Worldpay brokers are also given access to an online dashboard terminal to view payment status, invoices, and support.

The Worldpay solution is linked with the broker’s terminal via API integration. This means, as a retail investor, it may not be apparent that a brokerage is using Worldpay. There are no additional steps required by traders – the firm is partnered with established brands including Visa and Mastercard. Simply use your credit/debit card or alternative payment method, such as PayPal and Apple Pay.

The transfer process works as follows:

1. The cardholder (trader) enters their credit/debit card details into the broker’s website
2. The merchant (broker) sends a request to authorise the payment to their registered processor (Worldpay)
3. Worldpay submits the transaction to the card brand (e.g. Visa or MasterCard) and the issuing bank
4. The issuing bank approves or declines the transaction request
5. The issuing bank sends the payment status to the card brand and merchant bank

Put simply, the firm acts as an intermediary between all the steps involved in an online payment.

Transaction Times

Worldpay aims to process all payments instantly, with 24-hour-a-day processing. However, there may be delays from the issuing bank, which can mean longer waiting times for funds to clear to a live trading account, particularly on weekends or public holiday dates. Allow a few working days for withdrawals to be processed.

Fortunately, Eightcap supports Worldpay with instant deposits available 24/7, though there is a deposit limit of £50,000 per transaction. On the other hand, Visa card payments hosted by Worldpay are liable for a two-hour processing time when depositing to an FXTM trading account.

Fees

Brokers that accept Worldpay deposits are liable for business-to-business fees. This includes a 1.5% fee for Mastercard and Visa transactions plus £19.95 in online gateway charges. This is similar to Stripe with merchant fees at 1.4% + 20p for UK card payments.

Fortunately, most Worldpay brokers absorb the costs rather than passing them on to traders. XM for example covers all transaction fees. This is the same at FXTM, which also charges zero fees for card payments.

Pros Of Worldpay For UK Traders

• Quick – Worldpay offers faster average processing times than a traditional wire transfer. This means you can see funds available in your trading account almost instantly and make the most of market opportunities without delays.
• No Additional Registrations – A key benefit of Worldpay is that there are no additional sign-up requirements. The firm is a payment processor which hosts the transactions from your existing credit/debit card. Merchant integration is required only.
• Safe – The company follows robust security measures with stringent requirements for partner merchants. This includes fraud protection systems. Still, traders should sign up with FCA-regulated brokers that accept Worldpay for further peace of mind.

Cons Of Worldpay For UK Traders

• Limited Availability – Despite its lengthy prominence as a payment processor, Worldpay is still only integrated with a relatively limited list of UK brokers. Instead, the gateway is most popular as a point-of-sale (POS) solution.
• Customer Service – As Worldpay is primarily a B2B model, customer support is aimed at merchants. In the instance of payment or refund problems, you will need to contact your online broker. This makes it particularly important to sign up with Worldpay brokers that offer reliable, on-hand support.

How To Make Worldpay Deposits & Withdrawals

There is no need to create a Worldpay account, however, you will need to have a registered credit/debit card or have signed up with a supported partner such as PayPal or Google Pay.

To make a deposit:

1. Sign up for a trading account with a UK broker that accepts Worldpay
2. Navigate to the cashier portal
3. Select ‘Worldpay’ or a supported payment method
4. Enter the payment details such as card number and CVV
5. Input the deposit value, taking note of any minimum transfer requirements
6. Review the payment details including any commission fees (if applicable)
7. Confirm the deposit

Withdrawals should work similarly, though some Worldpay brokers may have additional verification steps, including sending copies of ID documents. This is to comply with KYC and AML rules.

Security

All Worldpay merchants, including online broker-dealers, that receive credit/debit card payments must operate in compliance with the Payment Card Industry Data Security Standards (PCI-DSS) to protect cardholder details.

Worldpay also integrates a Risk Management Mechanism (RMM) programme and a fraud scanning tool. This means any suspicious payments made using your credit/debit card, or payment method will be declined.

Customer Support

There is no customer contact option for UK traders. Customer support is primarily for merchants, including access to a dashboard portal, customer service telephone number, and email address.

For any outage issues, or payments to a trading account not working, you will need to reach out to your broker directly.

Should Traders Deposit With Worldpay?

Worldpay is a safe and secure payment processor. It works behind the scenes, acting as an intermediary between banking institutions and online traders. Yet despite its security measures, it is not widely available at UK trading brokers. Additionally, the lack of customer support is disappointing, with limited direct assistance for retail traders.

Use our list of the top brokers that accept Worldpay deposits to get started.

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