At InvestinGoal, we adhere to strict standards to ensure an unbiased review process. We conduct our reviews by examining each broker’s offering and performance across 4 key categories. A final rating is produced for each forex broker based on a total of 187 data points. Learn more about our review process and methodology.
If you are in search of the best MoneyGram forex brokers you will find them here.
MoneyGram, however, is not always offered by all forex brokers, given that the best forex brokers in the world usually stick with traditional payment methods such as Wire Transfers and Credit Cards. All the forex brokers listed below are great but each has something unique to offer traders. For instance, some have low minimum deposit limits while others have no minimum deposit amount.
No matter which MoneyGram forex broker you pick, you can be assured that they will help you get started on your journey to earn an income through forex trading. Not only will you be able to trade in the forex market, but you will also have access to the crypto and stock markets via the purchase of CFDs. At some of the brokers listed below, you can even trade on the real assets.
Table of contents
Top 10 best MoneyGram forex brokers
Round-up of the best Moneygram forex brokers
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs.
You should consider whether you can afford to take the high risk of losing your money
|Min. Deposit||MoneyGram Visa||MoneyGram Mastercard||MoneyGram Wire Transfer|
|City Index||100 USD||Yes||Yes||Yes|
|FP Markets||100 USD||Yes||Yes||Yes|
|IG Markets||300 USD||Yes||Yes||Yes|
How to pick a MoneyGram broker
To pick a broker, you need to pay attention to their regulator. If you are unhappy about their regulation status, do not use their services. Besides that, you must ensure you pick a broker that matches your trading style. Another important consideration is the fees and commission charged by the broker. Ensure that the broker you pick has a MoneyGram Visa approved in your country. However, MoneyGram Visa is approved in most countries and that is unlikely to be an issue.
What is Moneygram?
Moneygram is an international payment services provider. It has been around since 1940 when two companies merged. The two firms were Travelers Express and Integrated Payment Systems Inc. Today, there are over 300,000 agents, who are located in over 200 towns and cities around the world. The company offers its users a wide range of financial services. Their primary service is the MoneyGram Money Transfer service. It is in high demand, and the second biggest international money transfer service by volume.
How does MoneyGram work
To use MoneyGram, you only need to link your credit card or bank account to the MoneyGram account. After that, there is a short waiting period. Once approved you can make deposits as you please.
With the account, you can send money to almost any part of the world instantaneously. MoneyGram agents around the world will process transactions and complete them ready for collection at a new MoneyGram location. In general, transactions take minutes to process.
Commissions and Fees
The fees charged by MoneyGram will vary from nation to nation. It also depends on the amount to be sent. The bank transfer commissions usually begin from 0 USD. For credit and debit cards, the commissions start at 3 USD. In some cases, a conversion fee will apply.
Benefits of using moneygram
MoneyGram uses state of the start security protocols that include Strong Customer Authentication (SCA). It helps to ensure that all online payments are secure. Besides that, they actively educate users on how to avoid scammers and fraud.
You can log in and money the transaction history via your online account. There is also the option to look up the transactions using the authorization number. Finally, you can use the reference number, which is given when you make a payment.
Easy to use
The platform is designed to be beginner friendly. All you need to do is register and link your card. Additionally, payments are quick and customer support is available when needed.
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