Forex Merchant Account
Forex, also known as currency exchange, is where the worlds currencies trade. Daily trading volumes exceed five trillion dollars. The industry itself can be quite complex and deemed high risk by the majority of merchant account providers.
Looking for Forex payment processing? You’ve come to the right place. ChargeMoney provides binary options & Forex merchant accounts for companies located throughout the world.
Services we Offer
Benefits of Forex Payment Processing
Our goal is to deliver you the lowest rates, fastest approvals, and best terms available for Forex merchant accounts. High volume processing gives you the ability to accept payments effortlessly.
Reasons Forex Merchant Accounts are Classified as High Risk
Acquiring banks classify Forex merchant accounts as high risk. Forex is a global trading platform. No country has jurisdiction over another country’s currency. Although most reliable Forex trading platforms are licensed, others are not. The lack of regulation is a major concern to banks which then classify Forex payment processing as high risk merchants.
Still, Forex credit card and debit card payments are a hugely valuable to trading platforms. Cards are the fastest way to fund accounts. Time is money. Traders need to fund accounts quickly. The difference between a profitable trade and loss is often decided in minutes.
Although the use of credit cards for Forex trading is not legal in the US, debit cards can still be used to fund accounts. And traders in many other countries can use credit cards without any issues.
Another reason for the high risk classification for Forex payment processing is due to potential chargebacks from unhappy investors and the risk for fraud. Traders who lose money can attempt to dispute a transaction by issuing a chargeback. Additionally, concerns about money laundering cause some acquiring banks to steer away from the industry.
Many of these concerns can be alleviated during the underwriting of your Forex merchant account. Having proper licensing in place is helpful for account approval. As are strong anti-money laundering and know-your-customer policies.
Start your Forex Merchant Account Services Today
Businesses looking for a merchant account for forex brokers anywhere in the world are welcome to apply for a payment processing account. Our simple application process will allow your brokerage to be approved within a few days. Our firm requires a simple application to be completed while submitting a few supporting documents.
Our forex merchant services underwriters will review the account and provide feedback, usually within 24 hours. Contact one of our forex payment processing specialists today to get started.
