BPAY is an online payment system widely used across Australia. The bill and digital banking system is popular among Australian forex and CFD trading brokers, as well as banks, building societies and merchants. Here we cover the transfer solution as a deposit and withdrawal method for traders, including any payment limits, fees and processing times.
We also review how to create a BPAY account, the login process, and how long it takes to get set up. See our list of top brokers that accept BPAY in 2026 to get started today.
Best BPAY Brokers in Iraq
Following our evaluations, these are the best 3 brokers that support BPAY deposits and withdrawals:
-
- Demo account
- Regulator: FCA, ASIC, FSCA, VFSC, CIMA
- Min. deposit: $50
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- Demo account
- Regulator: FCA, ASIC, JSC, FSC, VFSC, FSA
- Platforms: MT4, MT5, TradingCentral
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- Demo account
- Regulator: ASIC, VFSC
- Platforms: MT4, MT5, TradingView, AutoChartist
Learn how we test brokers and why you can trust our ratings.
Here is a summary of why we recommend these brokers in October 2026:
- Vantage 4.7/5 Founded in 2009, Vantage offers trading on 1000+ short-term CFD products to millions of clients. You can trade Forex CFDs from 0.0 pips on the RAW account through TradingView, MT4 or MT5. Vantage is ASIC-regulated and client funds are segregated. Copy traders will also appreciate the range of social trading tools.
- Hantec Markets 3.8/5 Hantec Markets was established in Hong Kong in 1990. Initially, the company concentrated solely on the Chinese and Taiwanese markets. In 2008, the broker rebranded and expanded its presence in the UK, Australia, Japan, and various other countries, before enhancing its footprint in Latin America in 2022. Hantec now stands as a multinational brokerage with 18 offices across Europe and Asia.
- Global Prime 3.8/5 Global Prime is a multi-regulated trading broker offering 150+ markets. Traders can get started with no minimum deposit and trade with leverage that varies depending on your region. The firm also has a high trust score and a good reputation with a license from the ASIC.
Compare The Best BPAY Brokers
| Broker | Minimum Deposit | Instruments | Platforms | Leverage |
|---|---|---|---|---|
| Vantage | $50 | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds | ProTrader, MT4, MT5, TradingView, TradingCentral, DupliTrade | 1:500 |
| Hantec Markets | $10 | Forex, CFDs, Indices, Stocks, Commodities, Cryptos | MT4, MT5, TradingCentral | 1:1000 |
| Global Prime | $0 | Forex, indices, commodities, cryptocurrencies, shares, bonds | MT4, MT5, TradingView, AutoChartist | 1:500 (global), 1:30 (Australia) |
Community Sentiment
See how users rate these brokers based on the average customer ratings submitted on DayTrading.com, plus ratings from Trustpilot, the Apple App Store and Google Play.
| Broker | Our Users' Rating | Trustpilot Score | Trustpilot Reviews | iOS App Rating | Android App Rating |
|---|---|---|---|---|---|
| Vantage | 15763 | ||||
| Hantec Markets | 5659 | ||||
| Global Prime | 560 |
Vantage
Vantage remains an excellent option for CFD traders seeking a tightly-regulated broker with access to the reliable MetaTrader platforms. The fast sign-up process and $50 minimum deposit make it very straightforward to start day trading quickly.
Jemma Grist, Reviewer
Vantage quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds
- Regulator
- FCA, ASIC, FSCA, VFSC, CIMA
- Platforms
- ProTrader, MT4, MT5, TradingView, TradingCentral, DupliTrade
- Minimum Deposit
- $50
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN
Pros
- Vantage has bolstered its algorithmic trading tools for advanced traders with AutoFibo EA identifying reversal opportunities
- Vantage maintains its high trust score thanks to its strong reputation and top-tier regulation from the FCA and ASIC
- The broker has made efforts to expand its suite of CFDs providing further trading opportunities
Cons
- A steep $10,000 deposit is needed for the best trading conditions, which include the $1.50 commission per side
- The average execution speeds of 100ms to 250ms are slower than alternatives based on tests
- It's a shame that some clients will need to register with the offshore entity, which offers less regulatory protection
Hantec Markets
Hantec Markets is suitable if you want a no-frills MetaTrader broker to trade CFDs on stocks, forex, indices, commodities and cryptos. However, the customer support and educational tools trail the best brokers.
Christian Harris, Reviewer
Hantec Markets quick facts
- Demo Account
- ✔Yes
- Instruments
- Forex, CFDs, Indices, Stocks, Commodities, Cryptos
- Regulator
- FCA, ASIC, JSC, FSC, VFSC, FSA
- Platforms
- MT4, MT5, TradingCentral
- Minimum Deposit
- $10
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, CHF, PLN, AED
Pros
- Hantec Markets offers a great range of 8 account base currencies, helping global traders avoid conversion fees while delivering a hassle-free day trading experience.
- Hantec Markets is a trusted broker, with a track record stretching back to 1990 and authorization from ‘green tier’ regulators, notably the ASIC.
- The entry barrier for trading is notably low for beginners, starting from just $10, while deposits are fee-free and can be completed smoothly from the client area.
Cons
- There is no proprietary software aimed at newer traders, nor integration with the increasingly popular TradingView and cTrader platforms. Additionally MT5 is not available in certain regions.
- While Hantec Markets is regulated by the FCA it's no longer accepting retail clients via this entity - Brits may be onboarded through an offshore entity without FCA protections.
- The educational tools, consisting primarily of long-form articles, need revamping with interactive elements and videos to match the training materials at IG.
Global Prime
Global Prime is suitable for both beginners and seasoned traders with excellent market access, low fees and a range of tools including copy trading.
Tobias Robinson, Reviewer
Global Prime quick facts
- Demo Account
- ✔Yes
- Instruments
- Forex, indices, commodities, cryptocurrencies, shares, bonds
- Regulator
- ASIC, VFSC
- Platforms
- MT4, MT5, TradingView, AutoChartist
- Minimum Deposit
- $0
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, SGD
Pros
- Swap fees have been reduced by over 50% through a partnership with BidFX
- Minimum deposit cut to $0, making it more accessible to newer traders
- Low latency with execution speeds from 10ms
Cons
- Clients from US and some Canadian provinces like Ontario are not accepted
- Narrow range of account options
Note: this review does not cover the BPay product by Barclays Plc.
How Did We Choose The Best BPay Brokers?
To list the top BPay brokers, we:
- Sorted through our database of 143 online platforms, removing all those that don’t accept BPay payments
- Verified that the shortlisted brokers support BPay payments for online trading
- Ranked them by their rating, combining 200+ data entries with insights from our hands-on tests
BPAY Details
BPAY, short for bill payment, is a digital payment system based in Australia. The online banking system is offered by over 150 financial institutions including banks, building societies, credit unions and neobanks.
In fact, over 55,000 businesses offer transaction options to pay bills with the brand. From Yarra Valley Water and Vodafone to Optus, St George Bank, UBank, and Macquarie Bank. It is also a convenient payment method for Australian retail traders.
BPAY Pty Ltd. is a subsidiary of Cardlink Services Limited, which is owned by four major banks, including the Australia and New Zealand Banking Group, the Commonwealth Bank of Australia, and Westpac. Other e-wallet entities under the BPAY Group include Osko and Sypht.
Each business aims to simplify payments between companies and clients. The firm’s head office is located in NSW, Australia. Since it launched in the market in 1997, the company has enjoyed a 20+ year history of simplifying online payments for its customers across Australia.
How To Join BPAY
To make a payment using BPAY, log on to your mobile banking app. Select Transfers and BPAY. Then, enter the details of the accounts you would like to withdraw from and deposit to. Enter the amount, description and the confirm. The registration process is straightforward.
Traders should also take into account that payments can only be made from Australian bank accounts. Restrictions will apply.
Note, BPAY does support automatic payments but this is something you will need to opt into.
Pros Of Trading With BPAY
Easy To Use
BPAY is quick and easy to use. The platform syncs directly with your mobile banking app so all payments, withdrawn or deposited, can be viewed from a signal dashboard. Traders can simply choose the firm’s logo from the available payment methods in the broker’s account and make a deposit.
No Fees
BPAY is a low-cost payment provider. It does not charge traders to process payments directly, unlike PayPal for example which incurs a fee of up to 1%. With that said, some merchants and brokers may not cover processing costs and so additional charges can be added. It is worth checking the broker’s website or our reviews before making a payment.
BPAY View
The company offers a secure and easy access portal where customers can view, pay and store bills, sending instant statements and receipts. BPAY View receives good reviews from customers and means investors can fund their trading account alongside paying bills.
Merchant Verification
To become a compliant biller, merchants must have an ACN or ABN and an active account with an Australian financial institution. Businesses such as Xero have integrated BPAY payments within their operations portal. As a result, clients get a secure and reliable payment option.
Cons Of Trading With BPAY
Not International
BPAY payments can only be made from an Australian bank account. This, of course, rules out many international traders and brokers. Currently, it is not clear whether the payment method will be rolled out to more countries.
Limited Customer Support
Support services offered by BPAY are limited. Clients can submit a ticket via the official website but there is no email address or phone number published. Traders are advised to contact their bank or broker for assistance with any payment issues, disputes, cancellations, and delays.
No Refund Protection
Unlike some ANZ credit cards, banks cannot get refunds or reversals on any BPAY payments if a business service fails. You will need to contact your bank directly if you have made a payment error, used the wrong biller name, code or customer reference number, or if payments are not received by recipients.
With that said, a BPAY Group news feature did suggest an API download was coming that would be focused on error correction and payment reversal to all scheme members.
Speed
Payment deposits are confirmed instantly, however, processing and weekend cut-off times vary by bank. Payments made after 6pm on business days, or at any time on weekends or public holidays, will usually be processed on the next working day.
Brokers also have their own processing timelines which can cause delays in funds reaching or leaving trading accounts. With that said, most brokers that accept BPAY offer near-instant deposits.
Security
Payments are made within the secure environment of your online banking portal. All operations are compliant with legal obligations including the Australian Privacy Principles. To help prevent issues, clients and traders should be wary of using the correct information, from invoice biller codes to customer reference numbers, as this will help to prevent mistaken payments.
How To Deposit To A Trading Account Using BPAY
To make payments at BPay brokers like Eightcap, locate the payment method within the deposit section of your trading account, follow the on-screen instructions and enter the deposit amount.
Maximum and minimum payment limits, daily transfer amounts and processing times may differ between billers but the money transfer brand itself does not impose limits.
Note, BPAY accepts payments from savings, cheques, direct debit and credit cards, including Amex, Westpac, ING, ANZ, and NAB.
Fees Explained
BPAY does not charge fees to traders, however, some brokers may charge a processing fee. Check out your broker’s terms ahead of making a payment to avoid a nasty surprise. Importantly, deposits are usually free at established brokers, such as FP Markets.
There are no inactivity fines or minimum use requirements. However, these may be added by the broker so check their terms and conditions.
Note, payments made in error may be liable for bank recall or trace fees. Clients are advised to contact their bank directly.
Customer Support
To get in touch with the customer support team at BPAY, visit the official website where you can submit a ticket. The team usually responds within one business day and can assist with a range of issues from how to register to fees and more general issues related to your account not working as you hoped.
Additional resources can be found on the firm’s YouTube channel. Videos cover a range of key topics relating to payment features, third-party integration and services overview. The company has also published a handy How To guide which can be downloaded from the website and is available in Simplified Chinese, Hindi and Arabic.
As outlined above, the BPAY group does not offer support over the phone or via email.
Is BPAY Good For Day Trading?
BPAY is a fast and secure online payment system widely used by merchants and traders across Australia. Offering seamless integration with banks and major billers, the company provides a convenient means through which traders can manage trading funds alongside day-to-day bills.
Traders should note that services are currently only available in Australia. Not all brokers will accept BPAY deposits so see our list of supporting trading platforms to get started today.
FAQ
Is BPAY Safe To Use At My Broker?
All BPAY payments are made through secure telephone mobile apps or online banking devices. Personal or account details are not visible during the payment process.
What Are The Benefits Of Depositing To My Trading Account Via BPAY?
BPAY payments tend to clear faster than bank transfers and within one business day. Also, easy reconciliation via unique customer references and smarter billing through BPAY View means this is the preferred payment method for many Australian traders.
Is It Cheap To Use BPAY In My Trading Account?
Yes, BPAY doesn’t charge any fees to clients. Some brokers may charge their own processing fees on deposits or withdrawals, although deposits are typically free at the top brokers.