Forex Broker Payment Solutions Guide

The Forex Payment Challenge

Banks and acquirers view forex as high-risk. MCC 6211 (Securities Brokers/Dealers) is heavily restricted. Account terminations happen even to well-run, regulated brokers. You need a robust payment strategy.

Key Requirements

1. Regulated Broker Status

Unregulated brokers face severe banking limitations. FCA, CySEC, ASIC - having a respected license opens doors. Offshore-only licenses (SVG, Vanuatu) are much harder to bank.

2. Fast Deposits

Traders expect instant funding. Failed deposits mean lost customers. Your payment stack needs high approval rates and fast crediting.

3. Smooth Withdrawals

Withdrawal speed affects customer trust and retention. Automated payouts are essential at scale.

4. Multi-Currency Support

Global trader base means supporting 20+ currencies efficiently. FX markups on conversions eat into margins.

Payment Methods That Work

Cards

Still important but challenging. Expect 4-6% rates, high reserves, and constant vigilance on chargebacks.

Bank Transfers

Lower cost, lower chargeback risk. Essential for larger deposits and withdrawals.

E-Wallets

Skrill, Neteller, and others are popular with traders. Often lower fees than cards.

Crypto

Increasingly important for acquisition. Stablecoin settlement reduces volatility risk.

Chargeback Prevention

Strong KYC to verify identity
Clear terms on trading losses
Responsive support for disputes
Verifi/Ethoca integration for pre-chargeback resolution
Clear billing descriptors

Multi-Acquirer Strategy

Don't rely on one processor. Forex merchants get terminated. Have backup acquirers tested and ready. Geographic routing can also improve approval rates.

Key Takeaways

Regulation status dramatically affects banking options
Diversify payment methods beyond cards
Chargeback prevention is essential
Always have backup acquirers ready
Consider crypto for acquisition