Best American Express Brokers 2024

American Express provides millions of customers worldwide with a fast, easy and safe way to make payments to a range of merchants. As a result, there is a growing list of trading brokers that accept American Express deposits and withdrawals. This guide unpacks the key considerations when using American Express to fund day trading positions, from foreign exchange fees and interest rates to types of credit cards and transfer limits. We have also compared and ranked the top brokers that support American Express deposits in 2024.

Best American Express Brokers

These are the best 5 brokers that offer American Express deposits, based on our tests:

#1 - AvaTrade

Why We Chose AvaTrade

AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, from CFDs to AvaOptions and now AvaFutures, alongside a comprehensive education center and multilingual customer support.

"AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures
  • Regulator: ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM
  • Platforms: WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:30 (Retail) 1:400 (Pro)

#2 - OANDA US

Why We Chose OANDA US

OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is regulated by trusted agencies, including the NFA/CFTC. Around the clock support is available for short-term traders, alongside flexible contract sizes and automated trade executions.

"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."

- DayTrading Review Team
  • Instruments: Forex, Crypto
  • Regulator: NFA, CFTC
  • Platforms: OANDA Trade, MT4, TradingView, AutoChartist
  • Minimum Deposit: $0
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:50

#3 - Deriv.com

Why We Chose Deriv.com

Deriv.com is a low cost, multi-asset broker with over 2.5 million global clients. With just a $5 minimum deposit, the firm offers CFDs, multipliers and more recently accumulators, alongside proprietary synthetic products which can't be found elsewhere. Deriv provides both its own in-house charting software and the hugely popular MetaTrader 5.

"Deriv.com will suit day traders looking to make fast-paced trades using CFDs and multipliers with high leverage up to 1:1000. The broker is also the industry leader in synthetic indices, which simulate real market movements and are available around the clock. "

- DayTrading Review Team
  • Instruments: CFDs, Multipliers, Forex, Stocks, Indices, Commodities
  • Regulator: MFSA, LFSA, VFSC, BFSC
  • Platforms: Deriv Trader, MT5
  • Minimum Deposit: $5
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:1000

#4 - Exness

Why We Chose Exness

Exness is a Cyprus-based forex and CFD brokerage established in 2008. With over 260,000 clients, several awards and reputable licensing, the broker has maintained its position as a highly respected global brand. Active day traders can access the popular MT4 and MT5 platforms, raw spreads and multiple account types.

"Exness remains an accessible broker for all experience levels, though experienced day traders will particularly appreciate the ultra-low commission rates, fast withdrawals and high-quality charting software."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, Crypto
  • Regulator: FSA, CySEC, FCA, FSCA, FSC, CBCS
  • Platforms: Exness Trade App, MT4, MT5, TradingCentral
  • Minimum Deposit: $10
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:2000

#5 - Pepperstone

Why We Chose Pepperstone

Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.

"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
  • Regulator: FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
  • Platforms: MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
  • Minimum Deposit: $0
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:30 (Retail), 1:500 (Pro)

How American Express Works

American Express was founded in 1850 when William Fargo, Henry Wells and John Warren Butterfield merged their express companies. A century later the business started providing a charge card, which offered travellers the flexibility of credit. Since then, the company has grown with the invention of the internet providing online payment services to retail customers.

More recently the brand has integrated into the financial markets supporting trading brokers and investing platforms. In 2024, the number of American Express brokers is on the rise, though it’s still considerably lower than brokerages that accept more popular payment methods such as Visa and Mastercard debit cards.

Outside of day trading and other financial services, the payment solution is accepted for a range of online and in-store transactions by a large number of merchants. The company also offers several different rewards, such as points for hotels and flights, discounted house insurance, and cashback, among others.

Importantly, American Express works in a similar way to most other credit cards. Any expenditure from your account, whether that be deposits with trading brokers or spending with other merchants, will need to be settled regularly. Users will need to connect their American Express card with a bank account and make payments via direct debit using a debit card or bank transfer. Near the end of each statement period, the credit card company will remind the customer when payment is due.

The American Express head office in the US is located in New York, though regional headquarters are found in other parts of the world, including the UK office in Brighton.

Transaction Times Explained

When it comes to making payments to American Express brokers, deposits are usually processed instantly.

You will need to provide verification via a 6-digit authorization safe key code. The code will be sent either to your account email address or your telephone contact number.

To speed up deposit times, traders can open their credit card app and log in to their account to add a new merchant (including online brokers) to their express list. With or without the express list, transaction times will typically be no more than a few minutes.

Withdrawals usually need to be approved by the trading broker before they are sent to American Express. Once the brokerage has sanctioned the withdrawal of funds from your trading account, it can take up to 10 working days for the funds to show on your card statement as a credit balance (negative cost).

Note, for credit balances to be transferred to the associated Amex debit bank account, a request needs to be submitted to customer service which will be reviewed and processed. This can take up to 10 days, though transactions are often settled more quickly.

Pricing Review

Some trading brokers that accept American Express levy fees for deposits and withdrawals. The company is known to charge merchants high fees for processing payments. This is the case online and in physical stores, so it’s common that brokers try and pass these onto traders. It also means that the payment method is usually more expensive vs Visa and Mastercard.

American Express brokers should list the fees that will apply when you deposit before you sign up for a trading account. This is normally a flat fee below a certain balance and/or a percentage of the transfer amount.

Outside of trading brokers’ transaction fees, there are other charges that investors should be aware of:

It’s worth noting that some Amex cards do not require traders to pay off charges on the account (including deposits made to brokers) as they offer zero interest on payments. However it is best practice to pay off the statement balance in full.

Security

American Express is considered safe and has strong security protocols at all stages. This makes it a good choice as a payment method with trading brokers and other merchants.

Key security procedures include:

Customer Service

The customer support that American Express provides is considered to be the industry gold standard regardless of whether your query is related to trading brokers or not. The credit card company has a dedicated customer service team that can be contacted via chat 24/7, or you can call their customer service helpline via an international phone number. Agents are genuine people (rather than bots), quick to respond and thorough. Before they can help, two layers of security must be passed.

Trading account withdrawals will show as credit balances on the user’s statement. For this to be transferred to the customer’s associated debit account, traders need to contact customer service to request the funds are transferred. In the first instance, account holders need to provide a copy of a bank statement to validate the transfer account. After this, requests can be submitted directly to customer service each time a credit balance needs to be refunded.

Pros Of Using American Express For Trading

There are several benefits to trading brokers that accept American Express deposits:

Cons Of Using American Express For Trading

There are also some drawbacks to using American Express when day trading:

How To Deposit Using American Express

There are several steps to follow when using American Express as a payment method to fund day trading accounts:

  1. Check Amex Is Accepted – The first step is to look for brokers that accept American Express deposits and withdrawals. Information regarding the payment methods supported by each broker should be readily available on the firm’s website.
  2. Confirm Any Fees – Information regarding the fees that apply should also be publicly available to day traders. Check the ‘cashier’ or similar portal for details.
  3. Check Transaction Times – In addition, the time it takes to process an American Express deposit or withdrawal should be detailed by the broker. This is important to understand so that trades can be executed in good time.
  4. Make A Deposit/Request A Withdrawal – Once the above information is understood you can deposit up to the credit limit of the Amex account or the trading broker’s transfer threshold. The process should be straightforward, but will most likely require the trader to enter their black card details, for example, and a SafeKey.

Accepted Countries

American Express accepts users from countries around the world, including: Australia, Canada, Dubai, Hong Kong, Ireland, India, Israel, Jordan, Kuwait, Saudi Arabia (KSA), Korea, Malaysia, Oman, Qatar, Spain, Singapore, and many other countries.

Note, trading brokers that accept American Express deposits may have their own customer country restrictions.

Is American Express Good For Day Trading?

American Express is a worldwide payment method available at a large number of vendors, including some trading brokers. But despite its popularity, there are only a handful of brokers that accept American Express payments, including FxPro and FXPrimus. See our full list of American Express brokers to start trading.

FAQ

Do American Express Brokers Offer Instant Deposits?

Trading brokers that accept American Express usually offer near-instant deposits. However, withdrawals can take several working days, though this varies between trading platforms. Note, users will need a SafeKey from the credit card company to make a payment, which can cause delays.

Are American Express Trading Deposits Accepted In All Locations?

The brand has a global reach and most countries are supported by the credit card company. Despite this, some American Express brokers might have limitations on where day traders can sign up from. This information should be listed on the broker’s official website.

Does American Express Have A Brokerage Account?

Yes. The credit card company’s American Express Brokerage account offers several different trading packages depending on the value of your account balance. Clients can find more details on the official site. Note, the brokerage account is only available in some jurisdictions.

Which Are The Top Forex Brokers That Accept American Express?

The best American Express brokers that offer forex trading include FxPro and FXPrimus. Use our full list of brokers that accept American Express deposits to find the right forex trading platform for your needs.

Can I Use American Express Via Zelle To Fund My Trading Account?

No – American Express does not support Zelle mobile payments, however, it does support Apple Pay and Google Pay.