The best Forex brokers that offer prepaid card options, according to our research, are:
- NAGA
- Swissquote
- ActivTrades
- Interactive Brokers
- Instaforex
- Amana Capital
Among the factors we have taken into account we can find:
- The availability of Mastercard prepaid cards or similar.
- The fees charged on brokers’ prepaid cards.
- The uses the trader can make of the prepaid card.
Review
NAGA
best prepaid MasterCard overall
NAGA offers the NAGA Card, a Mastercard supporting multiple currencies like EUR, USD, and GBP. NAGA traders use it globally for ATM withdrawals to enhance transaction speed and convenience.
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About NAGA
NAGA is a German fintech company founded in 2015, offering social trading and investing services across forex, stocks, cryptocurrencies, commodities, and indices. NAGA provides a proprietary trading platform alongside MT4 and MT5. NAGA is regulated by CySEC and listed on the Frankfurt Stock Exchange. NAGA is known for its social trading features and copy trading functionality. The NAGA CEO is Michael Milonas since 2024.
NAGA Features
The features of NAGA are listed below.
- NAGA offers a NAGA Card to all traders that request it.
- The NAGA Card is a Mastercard that is able to cater for multiple currencies including EUR, USD, and GBP.
- With the NAGA Card, you can easily make use of worldwide ATM withdrawals.
- The NAGA Card will make your NAGA withdrawals and transactions even faster, and smoother process than they already are.
NAGA Pros and Cons
Advantages of NAGA
The advantages of NAGA are listed below.
- User-Friendly Platform
- Social and Copy Trading Features
- Diverse Asset Selection
Disadvantages of NAGA
The disadvantages of NAGA are listed below.
- High Spreads
- Limited Account Types
- No US Clients
Swissquote
best multi-currency solution
Swissquote offers three types of Mastercards, including a prepaid card. Swissquote allows weekly withdrawals up to $1000 with fees applied. Swissquote provides a free first-year subscription for its Mastercard.
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About Swissquote
Swissquote is a Swiss online banking and trading company founded in 1996. Swissquote offers trading on forex, stocks, CFDs, cryptocurrencies, and other financial instruments. Swissquote provides various trading platforms including MetaTrader and a proprietary platform. Swissquote is regulated by multiple authorities including FINMA and FCA. Swissquote serves over 500,000 clients worldwide and is listed on the SIX Swiss Exchange. The Swissquote CEO is Marc Bürki.
Swissquote Features
The features of Swissquote are listed below.
- Swissquote offers a multi-currency solution with a total of 3 different broker Mastercards.
- Swissquotes offers a Mastercard prepaid card, a credit card, and a digital credit card.
- The Swissquote Mastercard charges a yearly fee of $100, however, the first year of use is free of this commission.
- With the prepaid card of Swissquote, you can withdraw up to $1000 per week, with a 3.5% fee on the withdrawal and a 1.5% currency conversion fee when applied.
Swissquote Pros and Cons
Advantages of Swissquote
The advantages of Swissquote are listed below.
- Regulated and Trusted
- Comprehensive Product Range
- Advanced Trading Platforms
Disadvantages of Swissquote
The disadvantages of Swissquote are listed below.
- High trading Fees
- Complex Pricing Structure
- Steep Minimum Deposit Requirement
ActivTrades
best MasterCard for European traders
ActivTrades provides a Mastercard for EUR storage only. ActivTrades requires a minimum top-up of €50. ActivTrades has several fees for specific services and caps daily ATM withdrawals at €400.
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About ActivTrades
ActivTrades is a global online broker founded in 2001, offering trading on forex, CFDs, indices, shares, commodities, and ETFs. ActivTrades provides MetaTrader platforms and its proprietary ActivTrader platform. ActivTrades is regulated by multiple authorities including the FCA. ActivTrades serves clients in over 140 countries and is known for competitive spreads and innovative trading tools. ActivTrades recently introduced zero commission on shares and fractional trading. The ActivTrades CEO and founder is Alex Pusco.
ActivTrades Features
The features of ActivTrades are listed below.
- The ActivTrades Mastercard is a good choice for EU traders since it can store money in EUR only.
- At the moment, ActivTrades is not accepting new Mastercard users.
- The minimum top-up amount required for the ActivTrades Mastercard is €50, with a max top-up amount of €3750 permitted.
- The ActivTrades Mastercard can be used online or to withdraw cash from ATM machines with a €400 daily limit on withdrawals.
- ActivTrades charges a 1.5% fee if you use their Mastercard outside the EU, a 10% fee in hotels and restaurants, and a €50 fee for use in petrol stations.
- In order to cancel the ActivTrades Mastercard, there is a €15 fee.
ActivTrades Pros and Cons
Advantages of ActivTrades
The advantages of ActivTrades are listed below.
- Low Trading Costs
- User-Friendly Platforms
- Regulatory Compliance
Disadvantages of ActivTrades
The disadvantages of ActivTrades are listed below.
- Limited Product Range
- Withdrawal Fees
Interactive Brokers
best MasterCard for travelers
Interactive Brokers offers the IBKR Mastercard for worldwide access to account funds. Interactive Brokers allows daily ATM withdrawals up to $1,000 without monthly minimum repayment requirements.
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About Interactive Brokers
Interactive Brokers is a global electronic broker founded in 1978, offering trading in stocks, options, futures, forex, bonds, ETFs, and cryptocurrencies across 150 markets in 33 countries. Interactive Brokers provides advanced trading platforms, low commissions, and access to a wide range of financial instruments. Interactive Brokers is known for its sophisticated technology and serves both retail and institutional clients. Interactive Brokers is regulated by multiple top-tier authorities worldwide. The CEO of the Interactive Brokers Group is Milan Galik.
Interactive Brokers Features
The features of Interactive Brokers are listed below.
- The IBKR Mastercard allows traders to access their account funds in almost any location.
- The IBKR Mastercard does not have any monthly minimum repayments.
- Interactive Brokers on their Mastercard sets a high limit of $1,000 per day to be withdrawn at ATMs.
Interactive Brokers Pros and Cons
Advantages of Interactive Brokers
The advantages of Interactive Brokers are listed below.
- Low Trading Fees
- Advanced Trading Tools
- Wide Market Access
Disadvantages of Interactive Brokers
The disadvantages of Interactive Brokers are listed below.
- Not user-friendly
- No MetaTrader Support
- Additional Fees
Instaforex
best for occasional use
Instaforex provides the Mastercard Benecard with an annual fee. Instaforex charges a delivery fee and applies transaction fees. Instaforex caps daily ATM withdrawals at $400 and mandates a minimum transaction charge.
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About Instaforex
InstaForex is a global forex and CFD broker established in 2007, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. InstaForex provides MetaTrader 4, MetaTrader 5, and proprietary platforms. InstaForex is regulated by the Financial Services Commission (FSC) of the British Virgin Islands. InstaForex serves over 7 million clients worldwide and is known for competitive spreads, extensive educational resources, and various account types. InstaForex offers copy trading and PAMM accounts.
Instaforex Features
The features of Instaforex are listed below.
- At Instaforex, the Mastercard Benecard can be requested by the traders.
- The yearly membership fee of the Instaforex Mastercard is €29 or $34.95.
- Instaforex charges a delivery fee of $89.95 on the Benecard.
- The maximum withdrawal limit from an ATM will be $200 per withdrawal, $400 daily, or $1,000 every 4 days.
- On the InstaForex Benecard, there is a 1% transaction fee applied with a minimum of $10 or €8 charged.
Instaforex Pros and Cons
Advantages of Instaforex
The advantages of Instaforex are listed below.
- Beginner-Friendly
- Wide Range of Instruments
- Advanced Trading Tools
Disadvantages of Instaforex
The disadvantages of Instaforex are listed below.
- Outdated Website Design
- Limited Trading Instruments
- Customer Support Limitations
Amana Capital
best versatile MasterCard
Amana Capital issues a Union Pay prepaid card, not Mastercard, in USD. Amana Capital supports cash withdrawals with a $2,000 daily limit and fees applicable. Amana Capital outlines a $50 initial deposit requirement.
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About Amana Capital
Amana Capital is a global online trading broker established in 2010, offering trading on forex, metals, commodities, indices, cryptocurrencies, and stocks. Amana Capital provides multiple trading platforms and API solutions. Amana Capital is regulated by multiple authorities including CySEC. Amana Capital is known for competitive pricing and advanced technology. Amana Capital serves both retail and institutional clients. Amana Capital has recently undergone significant transformation and expansion. The CEO of Amana Capital is Muhammad Rasoul.
Amana Capital Features
The features of Amana Capital are listed below.
- Amana Capital offers a prepaid card, however, it’s a Union Pay.
- The Amana Capital prepaid card is available in USD currency only and is conveniently accepted in stores, at ATMs, and online.
- The ATM limit for making withdrawals with this card is $2,000 per day, though there is a 1.5% fee on cash withdrawals.
- The minimum deposit you can make to the Amana Capital prepaid card is $50, and this comes with a $3 fee attached.
- When you make a deposit to the Amana Capital prepaid card, this can take up to 2 business days to process.
- The Amana Capital card has a 1-year expiration date, so you would have to renew it to continue use at that time.
- There is a $10 charge to replace it if it is lost, damaged, or stolen.
Amana Capital Pros and Cons
Advantages of Amana Capital
The advantages of Amana Capital are listed below.
- Strong Regulatory Framework
- Negative Balance Protection
- Competitive Trading Fees
Disadvantages of Amana Capital
The disadvantages of Amana Capital are listed below.
- Mixed Customer Feedback
- Limited 24/7 Support
- Higher Spreads on Standard Accounts
Broker’s Proprietary Card vs other cards
When it comes to your usual card benefits like international deposits and withdrawals, and more, as well as the safe and reliable service that your card offers, then there will be no change. You can still rely on these great things.
The only areas that really change are in terms of extra improvements. This means transactions and communications between your broker and you, using the proprietary card should be easier with possibly lower fees on deposits and withdrawals, lower conversion fees, and all-round faster payment processing on both ends.
How to get a Broker’s Proprietary Card
The usual process does not change much from what you would typically expect if you are signing up with any top forex broker.
That is that you first must open up a live trading account. Of course, to do this you will need to pass the verification process for that broker. This typically means verifying your identity and residence. You should then make a deposit with the broker to get your account ready to trade.
Once you have done that, the process of receiving your card should be straightforward. Just a simple request to the broker is all which is usually needed. Some forex brokers may charge a small fee to deliver the card, though others may not. Either way, it will not break the bank in receiving your new proprietary card.