Best Diners Club Brokers 2024
Diners Club is a charge card and online payment system that has been in business for 70+ years and is favored by some traders for its speed, security and reward point incentives. Our team has tested platforms that accept this payment method to compile our list of the best Diners Club brokers.
Best Diners Club Brokers
Based on our analysis, these are the 1 top brokers that accept Diners Club deposits:
Diners Club Brokers Comparison
| Broker | Minimum Deposit | Instruments | Platforms | Leverage | Visit |
|---|---|---|---|---|---|
|
$5 | CFDs, Multipliers, Forex, Stocks, Indices, Commodities | Deriv Trader, MT5 | 1:1000 | Visit |
#1 - 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
Pros
- The free demo account is ideal for practicing short-term trading strategies and no registration is required
- There's a good range of fast deposit and withdrawal methods with zero payment fees and low minimum deposits
- Deriv bolstered its short-term trading opportunities in 2024 with accumulator options on simulated indices featuring up to 5% growth rates
Cons
- The range of 100+ assets trails some competitors such as Quotex which offers 400+
- There are limited copy trading tools and analysis features compared to alternatives like IQ Cent
- There's no loyalty program or rebate scheme for high volume traders
How Did We Choose The Best Diners Club Brokers?
- We checked the broker accepts Diners Club deposits.
- We verified the minimum deposit was accessible (below <$500).
- We investigated whether depositing to a trading account using Diners Club is straightforward.
- We confirmed the platform and/or app is suitable for trading using hands-on tests where possible.
- We looked at whether the broker is regulated and assigned it a trust rating.
- We evaluated the fees you can expect to make day trading.
- We contacted customer support to check they are able to assist with queries about Diners Club deposits and withdrawals.
What Is Diners Club?
Diners Club is a direct banking and online payment services gateway.
The company was founded in 1950 by Frank McNamara and, at its inception, it was the world’s first multipurpose charge card.
Fast forward a few decades and Diners Club International celebrated its 70th birthday in 2020. Today, it is owned by Discover Financial Services (DFS) and is accepted across 200 countries, connecting over 50 million merchants.
While Diners Club still issues new cards to corporate customers, it has been closed to applications from consumers for some time. It does however still serve existing consumer cardholders.
How To Deposit To A Trading Account Using Diners Club
Diners Club payments work in a similar way to standard card payments when funding trading accounts:
- Navigate to your Diners Club broker’s deposit page
- Enter the amount you want to deposit
- Select the debit/credit card payment option
- Fill in the form with relevant personal information
- Confirm the transaction
While deposits should be processed almost instantly in most cases, withdrawals may take several days for the broker to finalize. This is because brokers often have to perform checks before releasing funds.
Pros & Cons Of Funding Your Trading Account With Diners Club
Pros
- Robust security with encrypted chipcards makes it difficult to forge
- Knowledgeable customer service team with local support numbers (call +44 1244 47091 for the international number)
- Competitive rates and strong benefits, including 2-for-1 offers, government travel cards, airport lounge access, flight and hotel booking and more
Cons
- The company is no longer issuing new consumer cards
- Diners Club credit cards are not available to UK customers and traders
- Only a select few brokers accept Diners Club deposits while alternatives like Visa and Mastercard are more widely available
- Diners Club is first and foremost positioned around its rewards catalogue
Is Diners Club Good For Day Trading?
Diners Club has some important benefits for day traders who travel a lot, but it has one very significant drawback – it’s no longer accepting new customers.
If you do already have a Diners Club card, it could be worth using because the points you earn while trading will reflect back to you in the form of air miles, car rentals, hotels and other travel perks. These are important benefits for an established and secure payment method.
Use our list of the best Diners Club brokers to make a deposit and start trading.
FAQ
Can I Use Diners Club For Online Trading?
Diners Club can be used to fund trading accounts with supporting brokers and it is a fast and secure payment service.
We have listed our top brokers that accept Diners Club and encourage traders to check these out if they use this deposit method.
Is Diners Club A Good Deposit Method For Day Traders?
If you have a Diners Club card and travel frequently, then we see this as a good payment method for day traders. You will earn points while filling your trading account, and these can be used to buy air miles or pay for hotels and car rentals.