The Forex industry is considered as the most popular financial industry, which operates throughout the year. Furthermore, it is believed by the FX Broker that this sector offers the opportunity for them to earn lots of profits at once. So the question that comes to our mind is do you plan to receive payment via online payment methods? Once you integrate your merchant account with the payment gateway, then you need to deposit funds in that particular account. Some of the available deposit methods in the market for the brokers are as follows:
Through these deposit methods, even the broker can receive payment from their most valued clients. Other than the online methods they can receive payment or deposits, with the aid of offline methods like check or cash. Prior to discussing the online method, one should also know about some of the traditional offline processes to receive the deposit from the traders. There is the traditional form of offline method that exists in the market. It includes that of western union, check facility, and various other kinds of local offline techniques.
Payment techniques like this are a better choice to receive the sizeable deposit. Bank wire and western union payment gateway take a lot of time for the brokers to receive payment from their clients into their merchant account. Mostly it takes as long as five days to receive the money in your merchant account. These offline methods are expensive and time-consuming to receive the payment. The biggest threats you face when you opt it is fraud and scam with your money.
To take our discussion further, when you use online payment techniques like credit card processing, Bitcoin, and e-wallet, you can seamlessly receive your payment. Let us deep dig in understanding these techniques.
Credit card processing is one such method with the aid of it, any broker around the world can seamlessly receive payment or deposit from the traders. It also accepts more than 100 currencies around the world. The payment gateway enables you to track all kinds of transactions. The fraud scrub technology used in this payment gateway reduces all kinds of fraudulent transactions at once. You can securely receive the deposit as secure data transfer takes place with PCI level 1 compliances. They charge a minimum transaction cost of 1 percent. Apart from that, it also comes with a chargeback prevention service to stop unwanted transactions.
E-wallets are the most popular payment gateway that helps the broker to receive their payment seamlessly. It is possible because they are easy to use, and transactions happen at once. Numerous brokers are using this gateway as they are the fastest to receive a deposit from the trader. It is easy to use, and secure transactions take place with the aid of it. Some of the popular e-wallets are Skrill, Ali Pay, Cash U, and Web Money. Whenever a sensitive transaction takes, they use a 128-bit encryption level so that your account details don't go public. At times it also uses anti-scam technology to prevent scams. These wallets accept more than 100 currencies from all over the world.
Bitcoin payment allows all the brokers to accept payment from any geographical location with absolute ease. Many brokers across the globe are accepting Bitcoin payments for currency trading. The brokerage cost of Bitcoin is pretty low. As a result, it becomes easier for the trader to send the payment with absolute ease. Bitcoin payment is the most secure way of receiving payment from your clients. The Forex Brokers who accepts Bitcoin is often required to keep deposits by having the trader transfer BTC to their wallet. Most of the brokers have their Bitcoin wallet where they receive deposits or payments from their clients.
In conclusion, the above discussion makes it pretty clear to use all these three online payment methods as they are secured and seamless to use. Furthermore, the processing time of the online payment gateways is faster.