Best Alipay Brokers 2024

Alipay is the most popular e-wallet service and online payment method in China, followed by PayPal and WeChat Pay. Its primary product is the Alipay wallet app, which can be used for global and domestic payments. There is also the unique Tour Pass for foreigners and international bank account holders. Before you login to your trading account, learn more about Alipay in this review as we uncover the sign-up process, as well as its pros and cons. We also list the best brokers that accept Alipay deposits and withdrawals in 2024.

Best Alipay Brokers

Following our analysis, these are the 5 highest-rated brokers with Alipay:

Alipay Brokers Comparison

Alipay Brokers Comparison
Broker Minimum Deposit Instruments Platforms Leverage Visit
RoboForex logo
$10 CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures R StocksTrader, MT4, MT5, TradingView 1:2000 Visit
Axi logo
$0 Forex, CFDs, indices, shares, commodities, cryptocurrencies MT4, AutoChartist 1:400 Visit
VT Markets logo
$200 CFDs, Forex, Commodities, Stocks, Indices MT4, MT5, TradingView, TradingCentral 1:500 Visit
Ultima Markets logo
$50 CFDs, Forex, Stocks, Indices, Commodities UM Social, UM App, MT4 1:30 (EU), 1:2000 (ROW) Visit
TMGM logo
$100 CFDs, Stocks, Energies, Indices, Metals, Cryptos, Forex MT4, MT5, TradingView, TradingCentral 1:500 Visit
Kucoin logo
$0 ETFs, Cryptos, Futures Own - Visit
IQ Option logo
$10 CFD, Forex, Crypto, Stocks, Digital Options Own 1:500 Visit
LiteFinance logo
$50 Forex, CFDs, indices, shares, commodities, cryptocurrencies MT4, MT5 1:500 (Crypto 1:50) Visit

#1 - RoboForex

Why We Chose RoboForex

RoboForex is an online broker, established in 2009 and registered with the IFSC in Belize. Traders can choose from five accounts (Prime, ECN, R StocksTrader, ProCent, Pro) catering to different needs with trades from 0.01 lots and spreads from 0 pips. RoboForex has also enhanced its offering over the years, adding CFD instruments and launching its stock trading platform, plus the CopyFX system.

"RoboForex is great if you want a vast range of 12,000+ day trading markets with ECN accounts, powerful charting and loyalty promotions. It also stands out for stock traders with its user-friendly R StocksTrader platform, featuring 3,000+ shares, fees from $0.01 and sophisticated watchlists."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures
  • Regulator: IFSC
  • Platforms: R StocksTrader, MT4, MT5, TradingView
  • Minimum Deposit: $10
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:2000

#2 - Axi

Why We Chose Axi

Axi is a global forex and CFD trading firm, founded in 2007 in Sydney, Australia. Highly leveraged trading opportunities plus a $0 minimum deposit make it a popular choice among 60,000+ traders worldwide. Axi also stands out for its resources, including copy trading and Autochartist.

"Axi maintains its position as a top forex and CFD broker for seasoned traders, with more than 70 currency pairs, raw spreads and additional benefits for high-volume trading. Beginners will also appreciate the user-friendly copy trading service and free forex eBooks."

- DayTrading Review Team
  • Instruments: Forex, CFDs, indices, shares, commodities, cryptocurrencies
  • Regulator: FCA, ASIC, DFSA, FMA
  • Platforms: MT4, AutoChartist
  • Minimum Deposit: $0
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:400

#3 - VT Markets

Why We Chose VT Markets

Founded in 2015, VT Markets maintains its position as a top Australian multi-asset CFD broker. With 1000+ tradeable instruments and support for the MetaTrader 4 and MetaTrader 5 platforms, this broker delivers a wide range of day trading opportunities to over 200,000 clients worldwide. VT Markets is regulated by the ASIC, FSCA, and SVGFSA.

"VT Markets is a great choice for regular traders who are looking for very tight spreads and powerful charting software. The broker's share CFD offering is particularly strong, with hundreds of commission-free assets spanning multiple global markets."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Commodities, Stocks, Indices
  • Regulator: ASIC, FSCA, SVGFSA
  • Platforms: MT4, MT5, TradingView, TradingCentral
  • Minimum Deposit: $200
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:500

#4 - Ultima Markets

Why We Chose Ultima Markets

Ultima Markets is a forex and CFD broker, established in 2016. The firm is regulated by several financial bodies, including the CySEC. Users can trade 250+ CFDs spanning major asset classes, from currencies to stocks and commodities. As well as the industry-leading MetaTrader 4 platform, clients can use the Ultima Markets app and social trading service.

"Ultima Markets is best for beginners looking to speculate on popular financial markets on the reliable MetaTrader 4 platform. The minimum deposit is accessible at $50 and there are no fees when you open and fund your account."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities
  • Regulator: CySEC, FSC, SVGFSA
  • Platforms: UM Social, UM App, MT4
  • Minimum Deposit: $50
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:30 (EU), 1:2000 (ROW)

#5 - TMGM

Why We Chose TMGM

TMGM is an ASIC-regulated forex and CFD broker with a vast range of tradeable assets covering forex, stock, index, crypto and commodity markets. The account types on offer provide a flexible choice between no commission or zero spreads, with competitive pricing all-round.

"TMGM is a great all-round choice thanks to its huge range of assets, diverse account types and platform choices, plus competitive pricing."

- DayTrading Review Team
  • Instruments: CFDs, Stocks, Energies, Indices, Metals, Cryptos, Forex
  • Regulator: ASIC, FMA, VFSC
  • Platforms: MT4, MT5, TradingView, TradingCentral
  • Minimum Deposit: $100
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:500

About Alipay

Alipay was established in Hangzhou, China in 2004 by the Alibaba Group. The payment brand is currently under Jack Ma’s ownership. The company’s head office is located in Shanghai and the firm is a subsidiary of Ant Group, a Chinese tech giant. The corporation has expanded globally, establishing other subsidiaries including Alipay Financial Services Hong Kong Limited, Alipay Singapore E-Commerce Private Limited, and Alipay (UK) Limited.

In 2022, Alipay had an estimated 82.2% market share of the third-party payments market in China, with over 680 million daily transactions and the number of users reaching 1.3 billion. Ant Group’s net worth is estimated at $315 billion. The company’s net profit also reached $3 billion as it cashed in revenues of $10.5 billion in just 6 months, meaning a profit margin of 30%.

According to recent news, the firm is also expected to launch as a stock IPO (Initial Public Offering) in 2022, due to its strong history of growth and valuation. The exact date is unclear due to regulations in China, but when it launches, Alipay will become a publicly-traded company with listings on the Shanghai and Hong Kong exchanges.

alipay logo

Pros Of Trading With Alipay

Mobile App

The mobile app is a convenient tool for investors who want to manage their trading deposits and account transactions whilst on the go. You can download the English app or the original Chinese version from the Apple App Store or Google Play store.

Multiple Payment Channels Supported

Alipay is a third-party eWallet service and therefore supports multiple payment methods. Traders can deposit or withdraw an Alipay account balance with stored credit or debit cards or epay solutions, such as MasterCard or Visa, plus with other methods like the GCash wallet and Klarna.


Alipay is a secure payment method that uses world-class processes including QR code payment scanning and 3D secure technology. Deposits should be safe via Alipay, but traders should also check the security of their chosen broker.

Multiple Countries & Currencies

The company’s ecosystem supports payments in multiple regions around the world, including Asia – primarily Hong Kong, Japan, Vietnam, and Singapore, as well as Europe, including the UK, Italy, and Norway, plus North America, Canada, Russia, Pakistan, Malaysia, Nepal, Ghana, Kenya, and Nigeria. It also supports transactions in 18 major foreign currencies, including USD, EUR, GBP, JPY, CAD, AUG, and SGD.

If you are an international trader and wish to transact in CNY, when exchanging one currency for another you must keep in mind the rate for today, which can be found online.

Payment Protection

The firm offers buyer payment protection up to 90 days for members, which fully reimburses unauthorized transactions. Traders can get in touch with customer service if they notice anything suspicious.

Customers can also get a full refund on undelivered items when shopping on AliExpress. Details of the refund process are provided on the website.

Cons Of Trading With Alipay

Registration Restrictions

The company’s business model primarily only allows Chinese bank accounts to register, however, traders who do not have a Chinese bank account can use the Tour Pass. This is a service provided by the Bank of Shanghai, which allows visitors to top up a prepaid card within the app, using a foreign card. Note, however, that the service is only available for 90 days, which may be unsuitable for some traders.

Settlement Times

Investors should note that the settlement of funds will depend on the payment method chosen within the Alipay wallet, so you will need to check with the individual payment provider beforehand. Brokers will also have their own processing times, though the top platforms process deposits instantly and withdrawals within five working days.

Verification Needed

To create and set up your account, you will need to go through a KYC verification process by submitting your ID and possibly a copy of your Visa if you are a visitor in China. As a result, Alipay is not as convenient as instant payment methods which don’t require account registration.

No Crypto

Because of Chinese regulations, blockchain transactions are not allowed on Alipay. Hence you won’t be able to purchase Bitcoin (BTC) or Ripple (XRP) in China. This may deter budding cryptocurrency traders and investors.


Deposits and withdrawals via Alipay are processed in real-time, with no need to fill out lengthy payment forms and personal details for each deposit. Note that the domestic and global remittance times will depend both on your chosen payment method and the broker you are joining.


Alipay is safe and secure to use online, as it has encryption protocols to protect customer transaction data, as well as 3D secure technology within the app to verify payments. 3D secure protects your transactions by sending you a one-time 6-digit password by SMS. The app also uses a QR code generator which makes contactless payments easier and safer.

How To Deposit Using Alipay

To fund your trading account using Alipay, look out for the blue API logo on your platform and follow the instructions to login. Your broker will redirect you to the Alipay payment gateway, where you can select your method and confirm the transfer.

Depending on your circumstances, there may be a daily, monthly, and yearly limit at Alipay, as well as a subsequent deposit or withdrawal limit set by your broker.


The firm doesn’t charge transaction fees except for large withdrawals over 20,000 RMB which will include a 0.1% fee. If you’ve loaded your foreign prepaid card with another currency, there may also be exchange rate fees.

Due to take rate merchant fees, your broker may also have their own pricing for deposits and withdrawals. For example, Key To Markets charges a 2.5% commission on deposits. You can usually find funding fees on the broker’s website or our reviews.

Is Alipay Good For Day Trading?

Alipay is a good option for traders based in China, or for foreigners with an appropriate visitor’s visa who are eligible for the Tour Pass. The method is also safe and offers flexible account management via the app.

However, the accessibility of the payment method for those outside China and without a Chinese bank account is limited and therefore investors may need to look at other competitors, such as PayPal or WeChat Pay.


What Is Alipay And How Does It Work For Day Trading?

Alipay is a payment processor and is a part of the Alibaba Group. The company offers convenient third-party payment integration for business and e-wallet services for customers. Traders will need to create an account using the app, which comes in Chinese and English. Once registered, you can load money into your account using a credit or debit card, before using it to make deposits into your live trading account.

Is Alipay The Same As PayPal?

Alipay is similar to PayPal in that it provides an e-wallet service, meaning users can make domestic and international transfers as well as payments online. Traders will be able to use Alipay in the same way as PayPal for funding trading accounts.

How Do I Get In Contact With Alipay For Any Deposit Problems?

For queries on how to delete an account or for any issues with your wallet, you can contact the customer service hotline at +65 68307260. For global business and merchant account holders, there is a support email address and phone number on the brand’s website.