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Undoubtedly, the forex market is one of the most liquid financial markets in the world. The average daily trade hovers around $5 trillion. With such a huge market, it becomes increasingly difficult to choose a forex broker to facilitate one’s trade.
One of the yardsticks to look at when choosing a broker is the payment method. There are different payment methods that brokers can integrate into their platforms, but Neteller seems to be a game-changer.
So, in this article, we will walk you through Neteller forex brokers so that you make an informed decision in your choice of a forex broker. You can also read our top 10 best forex brokers for a broader view of these brokers.
Table of contents
Top 10 Best Forex Brokers with Neteller as deposit method
Neteller Forex Brokers Comparison
|Neteller Forex Brokers||Neteller Deposit fee||Neteller Deposit processing time||Neteller Withdrawal fee||Neteller Withdrawal processing time|
|AvaTrade||$0||Up to 24 hours||$0||Up to 24 hours|
|Axi||$0||Up to 15 minutes||$0||Up to 2 business days|
|XM||$0||Up to 24 hours||$0||Up to 24 hours|
|EasyMarkets||$0||Up to 24 hours||$0||Up to 2 business days|
|FXTM||$0||Up to 2 hours||$0||Up to 24 hours|
|HotForex||$0||Up to 10 minutes||$0||Up to 10 minutes|
|FXCM||$0||Up to 24 hours||$0||Up to 2 business days|
|Naga Trader||$0||Instant||$0||Up to 2 business days|
|ActivTrades||$0||Up to 30 minutes||$0||Up to 2 business days|
|IC Markets||$0||Instant||$0||Up to 5 business days|
How to Deposit Money with Neteller to your Forex Broker
Depositing money to your trading account doesn’t have to be stressful. With Neteller, the process is very simple and seamless. Before you start the deposit process, ensure you fund your Neteller wallet first. You can fund your Neteller wallet via Visa and MasterCard debit/credit cards. Once you have funds in your Neteller account, you can then proceed to open an account with a broker of your choice.
If your trading account has been approved, head to the payment section and tab the deposit button. Enter the amount you wish to deposit and click on the Neteller logo from the list of supported payment methods. Once you select Neteller, a new window will open for you to login to your Neteller account. Enter your username and password and the clock on proceed.
Confirm the transaction and the funds would be debited from your Neteller account and credited to your trading account. If you don’t see the funds immediately in your trading account, you may refresh your dashboard for the funds to appear.
How to Withdraw Money with Neteller from your Forex Broker
After trading different currency pairs, you may want to withdraw your funds. As with the deposit options, funds withdrawal on Neteller is very simple and straightforward. Navigate to the payment page of your forex trading account and click on “withdraw funds.” It will direct you to another page where you have to select the Neteller logo and enter the amount you wish to withdraw.
Once that is done, a new window will pop up. This new window will require you to login into your Neteller to approve the transaction. For withdrawals on Neteller, it usually takes around 2 business days to process. In some cases, you may receive your funds earlier than the 2 days deadline.
What is Neteller exactly?
Neteller is a leading payment processor that was founded in 1999. It is operated by PaySafe Financial Services and regulated by the Financial Conduct Authority in the UK. Neteller is one of the pioneers of the eWallet market in the world. It has a presence in more than 200 countries, and till day, this payment processor has facilitated payment up to $1 billion annually.
To prevent fraud, theft, and identity scams, Neteller uses physical security measures, advanced electronics, as well as, 128-bit encryption technology, and high-tech anti-money laundering to secure their payment platform.
Being one of the pioneers of eWallets, Neteller has so many great and attractive features that has endeared it to forex traders. Find below some of the reasons why forex traders prefer Neteller compared to other payment processors.
First, Neteller operates a digital payment wallet that you can use to virtually deposit and withdrawal your funds. You can fund your Neteller wallet in several ways – credit/debit cards, and bank wires.
Secondly, Neteller supports a Net+ prepaid MasterCard, which you can link to your Neteller wallet to deposit funds or withdraw your earnings into it.
Lastly, in terms of security and customer information protection, Neteller stands tall in this regard. To secure users’ funds, Neteller uses 2FA. This means, before you have access to your eWallet, a 6-digit code would be sent to your registered phone number to verify if it’s you. This feature was introduced way back in 2015.
Benefits by using Neteller with your Forex Broker
There are so many reasons to start using Neteller to fund your trading account or withdraw your earnings. If you are funding your broker account, the transaction is generally instant. This means you don’t get to wait for some days to start trading. Plus, Neteller charges a low fee when funding your broker or trading account compared to its competitors.
Neteller has a user-friendly dashboard. Whether you want to transfer funds to somebody abroad or you want to request payment from your trading account, the options are very easy to access. This payment processor supports over 19 national currencies and more than 200 countries. Forex brokers operating in these countries choose Neteller as their choice payment processor over payment processors on the market.
Furthermore, Neteller has a currency conversion platform where you can convert from one currency to the other. For instance, if you live in the EU and you want to fund your trading account with USD, you have to convert from EUR to USD. You can easily do that on Neteller for a token. The conversion process is very seamless, plus there are no hidden charges. What you see on the screen is what you will get.
Okay, that’s it. Neteller is a leading eWallet payment processor in the world. It supports more than 19 currencies across over 200 countries. The conversion and deposit fees charged by Neteller is nothing compared to what other payment processors charge, and are mostly in line with other eWallets such as Skrill or Paypal. No wonder every forex broker seems to integrate them into their trading platform.
The 10 forex brokers we have highlighted in this article are now only reputable, reliable, and trustworthy, they have what it takes to help you facilitate your FX trades to make decent profits. Plus, they all support the use of Neteller to deposit or withdraw your earnings from your trading account.
Still not sure on which broker to kick-start your forex trading career with? No worries, you can read our top 10 best forex brokers to enable you to make an informed decision.
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