We can assist with finding and matching Forex payment solutions based on your company’s needs and requirements as well as the regulations.
Forex Credit Card Payment Processing Systems – The systems are connected to top merchant banks both in the EU and outside.
Assistance with opening Forex Merchant Accounts – for high-risk operations
Accepting money wires from clients
Those services include assistance with opening Forex merchant accounts, credit cards clearing, risk management and more.
Forex Payment Service Providers[/fusion_title][fusion_text]
Online Forex companies require a payment gateway for forex on their site to which they can receive electronic payments via credit card, bank transfers etc. This is provided by a Forex Payment Service Provider (PSP).
Certain PSPs provide additional services for payment methods, such as cash payments, e-wallets like PayPal, prepaid cards or vouchers and e-check processing. PSP providers make payments convenient for both the user and the receiver.
All the solution providers we work with are familiar with the Forex industry and have vast experience working in the field. They all offer Forex Merchant Accounts in banks in the EU and Asia.
Forex platform and software
In today’s fast-paced era of digital technology, it is vital that an online company keeps current with all the developments in the industry, so it is also vital that the company chooses a Forex platform and software that will keep up to date with the volume of traffic. Without this, the company can lose out on clients and sales.
A secure payment service provider provides an online business with the technical support of accepting a variety of currencies from different jurisdictions in multiple payment methods. This saves the company much cost and time in trying to find separate bodies to provide each of these services. A PSP has all the benefits as well as being equipped to follow the various regulations of each jurisdiction.
It is essential to investigate the various payment service providers as each one has different online services. Even though initially they may all look the same, you must find the one that would best suit your company. This includes looking into what the typical companies are that a PSP serves. As a company owner you want to find and do what’s best for your business, which includes finding the best PSP.
GBO offers assistance with finding and matching payment processing solutions and merchant accounts specifically tailored for forex companies.
We can assist with Forex merchant accounts and Forex payment gateways. We provide assistance with locating Forex merchant accounts at top European banks. Our high approval rate, market-leading rates and comprehensive customer support provides our clients with quality, professional services.
What are our solutions for the forex industry?
- Assistance with locating Forex payment gateway (white label option) – The payment gateway is suitable for B2B operations like Forex white label. The gateways offer a specialised forex payment gateway under your brand name
- Forex merchant account – We offer assistance with locating the best Forex merchant account solutions available, using a worldwide network of registered, regulated banks and payment processors.
- Forex payment processing – Payment processing in the forex industry is both unique and challenging. The combination of high volumes, specialised requirements and diverse end users requires a sophisticated, effective model to meet specific needs. Our assistance with finding the best solutions meets these challenging and diverse needs and anticipate problems before they happen.
Why does a forex broker need a merchant account? Why does a forex broker need to be able to process credit cards?
The forex industry is a dynamic industry, with traders opening and closing positions every second. This translates into profit and loss and funds moving around at lightning speeds. The entry of new brokers into the industry and new traders seeking revenue and the opportunity that comes with trading leveraged instruments. Each new entrant into the market offers different trading opportunities, pricing structures and trading platforms.
Irrespective of the differences, the lifeblood of each brokerage is client deposits. If a client is unable to deposit, they cannot trade, and if they cannot trade, the brokerage is unable to generate revenue. Payment to traders is also important, with traders often looking to receive payments to the same credit card from which they have deposited. For these reasons it’s crucial to have the right forex payment provider and solution to ensure that your deposits and payouts run smoothly, giving you a significant advantage over the competition.
GBO offers assistance with finding the best in forex trading payment processing solutions. We understand all the important features you need like transaction protection, fraud prevention and user support.
Forex trading brokers, like many businesses in the financial industry, are considered high-risk businesses. Because of this, it is often difficult to obtain a forex trading merchant account, which can impede your ability to provide adequate payment solutions for your clients. GBO can provide assistance to both start-up and existing Forex brokers looking to establish their merchant processing accounts.
Main features of Forex Merchant Accounts and Payment Gateways for Forex
Bank Direct Accounts: Forex merchant accounts can be either 3rd party/aggregate merchant accounts or bank direct merchant accounts. The primary difference between them is that aggregate accounts group a number of forex merchants in a single account under a generic descriptor, whilst bank direct merchant accounts set an individual merchant account with a unique descriptor. This unique descriptor is the Forex broker’s company name, and will show up on the forex trader’s credit or debit card statement for each transaction. Bank direct accounts are only available to larger merchants with previous processing history.
Account opening: Each Forex brokerage has specific requirements that need to be met when they apply for a forex merchant account. Put simply, what works for one company may not work for another. We offer assistance with several different Forex merchant account solutions, providing a choice of account options so that you don’t have to apply to multiple banks or payment processors.
Accept China UnionPay: The Forex industry is a large, growth industry in China, with most clients using China UnionPay cards. Forex merchant accounts must be able to accept China UnionPay cards and the Chinese Yuan. As a side benefit, the processing rates for China UnionPay are generally lower than Visa and MasterCard processing rates.
Merchant Accounts for Startup Forex Brokerages
Starting a successful forex brokerage requires a significant investment in both time and money. For any new broker, the initial hurdle is often dealing with the potentially complex legal requirements. A new brokerage must be incorporated and licensed with a corporate bank account. There are also many regulatory requirements governing the business on an ongoing basis, these requirements necessitate a properly configured platform to access liquidity providers and receive fast and accurate feeds. To be effective the platform must also integrate seamlessly with the mobile and web presence of the business, necessitating significant design and setup elements. The forex merchant will also seek to generate traffic for the website from their targeted marketing campaigns.
Unfortunately, without an effective forex merchant account these endeavours will be ineffective. For the startup forex merchants, most payment processors will not approve their application for a merchant account. However, BDO will. We work with startups to provide the best forex merchant accounts, where approval generally only takes a few short days.
Forex Payment Processing
For an unregulated forex broker, merchant service companies have been known to freeze transactions, requiring time consuming and difficult verifications to be made before the funds are unfrozen. Merchant services companies have been known to demand proof of licensing, often returning funds back to the trader.
This can have disastrous consequences for the broker. In addition, traders themselves can be impacted by being unable to access their funds for trading.
It is essential for a brokerage to avoid this situation and ensure that the merchant services company has inclusive policies for all types of brokers as well as a high quality, easy to use service.
GBO offers assistance with finding forex merchant account solutions. In addition, forex merchants will benefit from several features that will contribute to their business success, such as receiving access to an extensive, international banking network, multi-currency processing and diversification of accounts among multiple banks within the same platform.
Forex trading payment gateway processing
The Forex trading industry is rapidly growing and brokers, whether new or existing, must have a safe and reliable way in which to collect money from traders and deposit profits back into their accounts. Forex payment gateways enables brokers to do just that.
Because of the high-risk nature of the Forex industry, Forex trading payment gateway processing requires you to contract with proper payment services in order to be able to keep your operation running smoothly. But also be able to depend on a reliable payment processing service provider. Having proper payment services that are specialized in the Forex trading industry is key to being 100% effective. Forex trading payment processing has its own challenges and needs and they must be met by a provider with experience in the field to properly service end users.
GBO specializes in finding payment processing solutions to Forex brokers and we know the industry like no one else does! We can assist you to find some of the best forex trading payment processing providers and we understand how to best connect your company to the right payment gateway and wire money solutions.
The first step when starting a new Forex brokerage is to have a website integrated with a Forex payment gateway so you can receive payments from traders. There are a lot of Forex payment service providers out there who offer dedicated merchant accounts and gateways. However, if your company doesn’t have a positive transaction history or it is too new to have developed one, you will encounter high charges from payment processing providers at best, but more likely be simply rejected.
Why do you need a payment processing consultant? In an industry with unique characteristics and inherent risks such as the Forex industry, you may be able to obtain approval for an FX merchant account from a high risk merchant account services provider, however, you may be using an unknown payment processor.
At GBO, our dedicated team of experts in the field of payments and wire services will assist you in getting the best payment solutions available in the market. If you are a broker starting up your brokerage, we will help you establish your Forex Merchant Accounts and/or customized Forex payment solutions package.
Forex brokerages offer customers a variety of payment methods beyond credit cards in order to fund their accounts. Our extensive knowledge and expertise can help Forex brokers establish multiple payment methods.
What are the best payment methods and solutions for Forex brokerages?
Credit card processing is a fast and secure way of accepting payments in various currencies and is one of the most common and easy methods of payment. The credit card payment method can be integrated with an online shopping cart, enabling you to accept payments from traders online.
Wire transfer: This is the most secure and trusted form of transaction. The method requires the customer to give his bank account information in order to authorize the transfer of a specified amount of money into the broker’s bank account as well as to be credited for any profits.
Alternative payments give a Forex brokerage the ability to meet a varied range of customer demands and needs by accepting various methods of payment, such as cash, e-wallets, mobile payment methods, etc.
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