Payment Methods
To start trading or investing you need to fund your trading account. There are lots of different payment methods available to traders these days, and individual requirements determine which is better for any one trader. Do you want to deposit smaller amounts often or one larger sum to start trading with no further hassle? Here we list all payment methods accepted by UK brokers.
ACH Transfer
An ACH transfer is a bank-to-bank transaction conducted through the Automated Clearing House (ACH) network. This review will cover typical processing times, how to complete a deposit to a live trading account, and standard fees. We also touch on the payment method vs alternatives such as credit/debit cards and electronic bank wire transfers.
ADVcash
ADVcash is an e-wallet system that accepts a range of fiat currencies and cryptos. The payment provider is supported in multiple countries including the UK. Importantly, ADVcash can be used to complete transactions for goods and services as well as to deposit and withdraw from trading accounts. In this review, we cover how ADVcash works, any card fees, charges and limits, plus making payments at online brokerages.
Apple Pay
Apple Pay is a popular transfer method with over 500 million users. The iOS wallet application provides users with a shortcut to access their credit and debit cards, enabling straightforward deposits and withdrawals at trading brokers. In this review, we explain how to use Apple Pay, alongside support details, fees and compatible devices.
Cheque
Cheque payments are a traditional transaction solution. By definition, the payment gateway is referred to as an order to a bank or financial institution to pay a specified sum to an alternative account. The rules require the request to be written on a specially printed form. This review will cover how long payments take to clear, how to complete a deposit to a live trading account, plus typical fees.
Debit Card
Debit cards are popular with UK investors looking to make deposits and withdrawals to online trading accounts. Debit cards are cheap, secure and often provide insurance when completing transactions. In this article, we look at the definition of debit cards, payment limits and transfer fees. We also explain how to make deposits and withdrawals at trading brokers and list the platforms that accept debit cards.
Google Pay
Google Pay is an established e-wallet and online payment system. It offers a convenient way to make payments from portable devices. This includes mobile apps, websites and physical stores. Our review will cover how to use the payment solution to make deposits to trading accounts. We also explain how Google Pay works, associated fees and we compare it to alternative e-wallets like Apple Pay.
Mastercard
Mastercard is one of the most popular banking solutions and is widely accepted by many online brokers. You can find the Mastercard logo on credit, debit and prepaid gift cards. Traders typically benefit from instant deposits, low fees and high user security. See our list of brokers that accept Mastercard payments and review our pros and cons of trading with the payment solution.
Neteller
Neteller is a secure, global e-wallet and money transfer solution. It offers payment services to individuals, merchants and traders. In this review we focus on trading with Neteller, specifically how to open an account, make deposits and withdrawals, any fees and common FAQs. We also list the best brokers that accept Neteller deposits.
PayPal
PayPal is a safe and reliable method of transferring money over the internet. Those who join are frequently pleased with the high level of customer service on offer. In this article, we discuss the pros and cons of trading with PayPal brokers, the fees involved, plus additional facts to help you sign up and log in.
Paysafecard
Paysafecard is a transfer solution offered by Paysafe Group Limited. It allows customers to buy goods online and in shops. UK investors can also use the brand to make deposits and withdrawals at trading brokers. In this review, we explain how Paysafecard works and we list the pros and cons for traders, including transaction fees, payment limits and transfer speeds.
Perfect Money
Perfect Money is an online payment solution designed for individuals and merchants. It offers many services including loans, currency purchasing, money transfers and online transactions. Our e-wallet review focuses on its use in trading, specifically fees, account verification and more. We also list the UK brokers accepting Perfect Money deposits.
Rapid Transfer
Rapid Transfer by Skrill Ltd is an online payment system similar to Neteller. It is supported in 170+ countries including the UK, as well as by 3000+ banks like Lloyds. On a broker’s website, you may see the Rapid Transfer logo, meaning you can use the service to make a deposit or withdrawal. In this review, we run through what Rapid Transfer is, plus any fees and limits.
Skrill
Skrill is a popular money transfer service. It can be used to deposit and withdraw funds with some of the best brokers on the market. In this review, we discuss the services Skrill offers and the fees charged. We’ll also touch on the pros and cons of the money transfer solution, including how safe the service is and the speed of withdrawals.
Sofort
Sofort by Klarna is an online banking and money transfer system from Germany. It is supported in the UK and many European countries, including on e-commerce websites and trading brokers that show its logo. In this review, we cover everything you need to know about Sofort, including how it works, pricing, plus the login and deposit process.
Swift
Swift is a global payment system based in Belgium. It is primarily used for making payments overseas, though some individuals also use it to make retail payments to vendors, including online trading brokers. In this review, we start with an introduction to Swift - explaining how the payment mechanism works.
Trustly
Trustly Group AB is a Swedish fintech company, headquartered in Stockholm. Trustly simplifies payments by allowing users to pay without apps and card networks. Our review delves into a brief history of the payment provider and explores their pricing, security, speed and how it works. We weigh up the advantages and disadvantages of using the payment provider for forex trading.
Visa
Visa is a popular deposit method accepted by most forex brokers. The payment network is available in over 200 countries and products include credit and debit cards, prepaid and gift cards. Combining speed and security alongside low fees, Visa is used by many UK investors for depositing funds and withdrawing profits from online trading accounts.
WebMoney
WebMoney is an online settlement system and e-wallet that investors can use to fund their trading accounts. The service is offered by a number of top forex brokers including eToro and AvaTrade. WebMoney is supported in many countries including the UK. This review covers how the system works, the WM Keeper software and how WebMoney compares to other services like PayPal.
Western Union
Western Union is an established global payments company offering real-time exchange rates, a currency converter calculator, tracking transfers online and bill payment services. Distinguished by its black and yellow logo, it is best known for its international money transfer services, which can be done online or in-person.
Wire Transfer
Wire transfer, also known as a bank or electronic transfer, is a method of moving money from one account to another. Individuals can make a payment at a domestic or international level, meaning it is suitable for many traders. Wire transfer also has strict regulations, so is considered secure for depositing large amounts of money.