Top 6 Best Payoneer Brokers for 2022

filippo ucchino Filippo Ucchino calendar Last Updated: February 2022 timer 11 min read
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Are you looking for a Payoneer forex broker?

Well, your search ends here.

In this guide, we’ll tell you about some of the best Payoneer forex brokers you can try.

If you are looking to dig deeper into forex brokers, you can check our list of top 10 forex brokers.

Table of contents

What is Payoneer: what is it, and which brokers accept it?

First, let’s start with what Payoneer is.

Payoneer is a merchant services company that enables you to send and receive payments without the need for a bank account. It’s similar to PayPal, Venmo, Skrill, and other payment services.

Payoneer offers a prepaid MasterCard that functions similarly to a regular MasterCard.

It may offer ACH bank debit card and local bank transfer in addition to the Payoneer Prepaid MasterCard.

The following is a list of brokers who accept MasterCard as a form of payment.

Check with your broker to see if the Payoneer service is connected to the MasterCard debit card service.

Top Ten Payoneer Forex Brokers

In 2007, three entrepreneurs founded eToro to make trading more accessible to the general population.

eToro originated as a currency trader but has now expanded to offer a variety of additional services. Traders may now trade 53 currency pairs, 53 ETFs, 12 market indexes, seven commodities, and 957 stocks worldwide.

MasterCard is accepted as a payment method by eToro. The deposit costs are zero; however, the withdrawal fees are $5. A minimum withdrawal of $20 is required. If you deposit or withdraw in a currency other than USD, you will be charged conversion costs starting at 50 pips.

The broker offers a wide range of account types, including standard, Islamic, and professional accounts. On the other hand, the Standard account is the only form of live trading available to non-professional FX traders.

The simplicity with which you may begin copy trading on the eToro site is a major feature. In addition, you may earn a steady income as an investor by providing signals to other traders depending on your number of followers and other factors.

As a copier, you may take advantage of commission-free copying from some of the industry’s most knowledgeable and successful traders.

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68% of retail investor accounts lose money

Since its inception in 2010, Pepperstone Group has risen to the top of the online brokerage world, building a highly competitive and full-featured trading platform that focuses on forex, stocks, indices, metals, commodities, and even cryptocurrencies.

Mastercard is also accepted at Pepperstone. This payment option has no fees for deposits or withdrawals.

In any case, if the currency used differs from the one with which you established the account, there may be a conversion fee.

Pepperstone accepts AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, and HKD.

Pepperstone is a great alternative for traders who want a reasonable range of low-cost options, as well as a variety of user interfaces and account kinds and rapid customer support.

With its lightning-fast execution methods, many account kinds, low pricing, and multiple platforms, the broker surpasses the great majority of global forex brokers (MT4 and MT5, as well as comprehensive cTrader functionality).

Pepperstone has some of the lowest commissions in the online brokerage market. In addition, the Standard account, which has minimum FX spreads starting at one pip, but no costs and the Razor account, which has minimum FX spreads starting at zero pips, are also available.

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74-89% of retail investor accounts lose money when trading CFDs

The Admiral Markets Group, formed in 2001, has a rapidly expanding global footprint and a stellar reputation in the financial industry for providing high-quality services, financial stability, and investment protection.

Deposits with Mastercard are accepted in amounts ranging from 50 EUR/USD to 5000 EUR/USD.

EUR, USD, GBP, CHF, PLN, HUF, BGN, CZK, HRK, NOK, RON, and SEK are all accepted currencies on Admiral Markets.

Admiral Markets provides a selection of customizable trading accounts with reasonable trading conditions and a variety of services to meet the demands of various traders. There are two MT4 and two MT5 accounts available. Some accounts have more trading instruments than others, and minimum deposits, leverage, and commissions may differ.

There are no commissions when you trade forex and spreads start low. They also provide a diverse range of base currencies to help you avoid exchange fees and great educational materials to aid you in investing in your future.

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76% of retail investor accounts lose money

AvaTrade was founded in 2006 and has since grown to become one of the top trading firms in the world.

AvaTrade offers various trading instruments, including forex, commodities, cryptocurrency, stocks, shares, indices, metals, energies, options, bonds, CFDs, and exchange-traded funds (ETFs).

There is no deposit and withdrawal fee for Mastercard payments at AvaTrade. However, conversion fees occur if you’re depositing a different currency that is not a base account currency. Account base currency at AvaTrade is USD, EUR, GBP, JPY, and AUD.

It’s necessary to keep in mind that withdrawals may only be made using the same payment methods that you used to fund your account. If you wish to alter the method, you must withdraw up to 200 percent of your deposit to your credit or debit card. After that, you’ll be able to add a new deposit method.

AvaTrade provides traders of all levels with a wide range of free instructional materials, trading tools, and replica trading platforms through DupliTrade and ZuluTrade.

AvaTrade makes things simple with their trading accounts. Regular retail and professional accounts are the two sorts of accounts.

AvaTrade does not charge a commission for trading; instead, a fixed spread of 0.9 pips is charged.

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79% of retail investor accounts lose money

Plus500 was established in 2008 and is a leading online broker that provides trading services to clients all over the world on over 2,000 instruments in different asset classes, including CFDs on Forex, commodities, cryptocurrency, equities, stocks, indices, metals, energies, options, and exchange-traded funds (ETFs).

There is a minimum deposit of $100 for a MasterCard debit card; otherwise, you’ll incur a fee. The conversion fees at Plus500 is fixed at 0.7%. The base currencies include EUR, USD, and GBP.

Plus500 uses cutting-edge trading technology to provide clients free real-time quotations, narrow spreads, no commission costs, and up to 1:30 leverage for EU/UK traders.

In contrast to other brokers, who provide a range of customizable account types to meet the demands of different traders, there is only one basic account type for all clients.

A $100 minimum deposit is required for the basic account, which grants clients access to all platforms, tools, and trading products.

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72% of retail investor accounts lose money

With over 250 instruments to select from, FXTM allows traders worldwide to trade the markets.

The fees for MasterCard debit cards is 2 EUR, 3 USD, 2 GBP on withdrawals, while there are no commissions on deposit. The accepted base currencies at FXTM are EUR, USD, GBP, and NGN.

They provide their clients with narrow spreads, rapid execution, new trading tools, and additional risk protection and security through strict regulation.

Furthermore, spreads start at just 0.1 pips, thanks to robust interbank liquidity and No Dealing Desk (NDD) technology, eliminating shady dealings.

FXTM offers various trading accounts with variable leverage, powerful trading platforms that can be accessed from various devices, competitive trading conditions, and cheap minimum deposits beginning at only $10.

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81% of retail investor accounts lose money

FxPro started as an online forex broker in 2006, and since then, it has greatly enhanced its service by adopting and keeping to a client-centric approach.

There are no fees for deposits/withdrawals using MasterCard. The currencies accepted are: USD, EUR, JPY, AUD, GBP and others are accepted depending on your location, like ZAR. However, you can be charged a conversion fee.

The firm offers over 70 currency pairs and over 180 different equity shares, cryptocurrencies, futures, commodities, and stock indexes.

One of the pros of trading with FxPro is the vast number of platforms and account types available. MT4, MT5, cTrader, Edge, VIP, Joint, and Islamic are the seven account types available.

FxPro offers basic online forex lessons, self-evaluation examinations, and other textual materials. FxPro’s Trading Central also includes a complete technical analysis reference.

FxPro also offers a dictionary of CFD terminology, something not all brokers provide. As a result, FxPro has a competitive advantage over other brokers in two areas: the quality of its real-time news service and its multilingual webinars, which can be seen on the company’s YouTube page.

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72.87% of retail investor accounts lose money

Axi was founded in 2007 in Sydney, Australia, and is part of the AxiCorp Group, which has become one of the world’s top internet brokers.

There are no fees on credit/debit card withdrawal and deposit, and the broker processes the payment in no time. The accepted currencies are AED, CAD, EUR, GBP, JPY, NZD, PLN, SGD, and USD.

Axi provides many trading instruments across several markets, including forex, commodities, cryptocurrencies, stocks, shares, indices, metals, energy, bonds, CFDs, and exchange-traded funds (ETFs).

Regular and pro accounts are available from Axi, both of which may be customized to fit the demands of individual traders.

Each account has 140+ FX pairs, Metals, and CFDs to choose from. Because of ESMA restrictions, leverage of up to 1:500 is allowed, with EU leverage limited to 1:30.

There is no minimum deposit requirement for the basic account and spreads start at just 0.4 pips. There are also no commission costs.

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69.6% of retail investor accounts lose money

easyMarkets is a regulated online trading broker that offers traders of all skill levels access to more than 200 trading instruments in global markets, including forex, commodities, cryptocurrencies, stocks, shares, indices, metals, energy, and bonds, CFDs, and exchange-traded funds (ETFs).

Mastercard debit cards are available as a payment method for all the countries where easyMarkets is available. In addition, there is a substantial list of accepted account currencies. These include; EUR, GBP, USD, AUD, CAD, CHF, SGD, JPY, and ZAR.

easyMarkets is a market maker since it helps them to maintain consistent spreads regardless of market volatility.

They don’t prevent trade, and the conditions are always the same. Costs may be anticipated before executing a trade due to established spreads and no slippage on their web platform.

To help you enhance your trading abilities, easyMarkets provides a range of articles, videos, and eBooks. They are free to anybody who creates an account and covers a wide range of topics for both rookie and expert traders.

The two primary account types are the VIP account for the easyMarkets web/app platforms or the VIP account for MT4. The platform you want to use will undoubtedly influence the account you select.

Apart from the platform, the main difference is that the VIP web/app account has reduced overall trading expenses due to smaller spreads and no slippage.

The VIP account requires a $100 minimum deposit. The minimum position size on this account is 0.05 lots, with fixed spreads on the EURUSD starting at only one pip.

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75% of retail investor accounts lose money

HF Markets, formerly known as Hot Forex, has been a renowned global online broker since 2010. They provide retail and institutional trading services across various markets, including forex, commodities, cryptocurrency, stocks, shares, indices, metals, energies, bonds, and CFDs.

The minimum amount needed to deposit with MasterCard is $50, while withdrawals are $5. The accepted account currencies are USD, ZAR, NGN, EUR, GBP, and AED.

HF Markets has a policy of offering the finest trading circumstances available, including narrow spreads starting at 0 pips, quick execution, and low commissions.

HF Markets provides several flexible account types to meet the needs of various traders. As a result, the minimum deposit, lot sizes, and trading restrictions vary for each account.

In addition, Islamic accounts with no swap fees that follow Sharia law are accessible. Before creating a genuine account, demo accounts may be used to evaluate the various trading platforms and account conditions.

The micro account is for novice traders and those who trade lesser quantities. It allows clients to trade smaller trade amounts and create an account with a smaller initial deposit. Spreads start at one pip, and there are no commission fees.

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71.24% of retail investor accounts lose money

Payoneer Forex Brokers Payments Pros and Cons


  • Fast and safe
  • Most fx brokers accept MasterCard payments
  • Quick access over your debit card funds


  • Not all brokers accept Payoneer payments
  • Payoneer may charge fees

About the Author

Filippo Ucchino

Co-Founder - CEO - Broker Expert
Filippo is the co-founder and CEO of He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.

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Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Your capital is at risk. The present page is intended for teaching purposes only. It shall not be intended as operational advice for investments, nor as an invitation to public savings raising. Any real or simulated result shall represent no warranty as to possible future performances. The speculative activity in forex market, as well as in other markets, implies considerable economic risks; anyone who carries out speculative activity does it on its own responsibility.
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