emerchantpay Brokers 2024
emerchantpay is a payment service provider for online, mobile and point-of-sale transactions. They deliver high-capacity processing across several industries including forex trading, and offer a variety of payment methods and fraud management tools.
Our review will cover the key features of this transaction route, including where emerchantpay operates, its payment gateway, and the benefits to traders. We also list the best brokers that accept emerchantpay in 2024.
Best emerchantpay Brokers
These are the top 10 brokers with emerchantpay, based on our evaluations:
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1
FOREX.comActive Trader Program With A 15% Reduction In Costs
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$1000.01 Lots1:50NFA, CFTCForex, Stocks, Futures, Futures OptionsMT4, MT5, TradingView, eSignal, AutoChartist, TradingCentralWire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH TransferUSD, EUR, GBP, CAD, AUD, JPY, CHF, PLN -
2
NinjaTrader
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:50NFA, CFTCForex, Stocks, Options, Commodities, Futures, CryptoNinjaTrader Desktop, Web & Mobile, eSignalACH Transfer, Debit Card, Wire Transfer, ChequeUSD -
3
eToro USAInvest $100 and get $10https://www.daytrading.com/ is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$10$10SEC, FINRAStocks, Options, ETFs, CryptoeToro Trading Platform & CopyTraderACH Transfer, Debit Card, PayPal, Wire TransferUSD -
4
Interactive Brokers
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$0$1001:50FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFMStocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, CryptocurrenciesTrader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentralCheque, ACH Transfer, Wire Transfer, Automated Customer Account Transfer Service, TransferWise, Debit CardUSD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF -
5
IGForex trading involves risk. Losses can exceed deposits.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:30 (Retail), 1:250 (Pro)FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFMCFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread BettingWeb, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentralPayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit CardUSD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD -
6
Pocket Option50% Deposit Bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$50$1MISABinary Options, Currencies, Commodities, Stocks, Indices, CryptosWeb, MT4, MT5Wire Transfer, Credit Card, Bitcoin Payments, Volet, Perfect Money, Visa, Mastercard, Debit Card, WebMoney, FasaPay, Ethereum Payments, Maestro, JetonCash, AirtelUSD -
7
IQCent20% to 200% Deposit Bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$250$0.011:500IFMRRCBinary Options, CFDs, Forex, Indices, Commodities, CryptoOnline Platform, TradingViewCredit Card, Debit Card, Wire Transfer, Bitcoin Payments, Ethereum Payments, Visa, MastercardUSD, EUR -
8
RedMars
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
€2500.01 Lots1:30 (Retail), 1:500 (Pro)CySEC, AFMCFDs, Forex, Stocks, Indices, Commodities, CryptosMT5Credit Card, Wire Transfer, Debit Card, Sticpay, FasaPay, Bitcoin Payments, Trustly, PayPal, Skrill, Neteller, Klarna, Mastercard, VisaUSD, EUR -
9
OANDA USCFDs are not available to residents in the United States.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:50NFA, CFTCForex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)OANDA Trade, MT4, TradingView, AutoChartistWire Transfer, Visa, Mastercard, Debit Card, ACH TransferUSD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD -
10
Plus500 USWelcome Deposit Bonus up to $200Trading with leverage involves risk.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$1000.0 LotsCFTC, NFAFutures on Forex, Commodities, Cryptos, Indices, Interest RatesWebTrader, AppACH Transfer, Wire Transfer, Debit Card, Mastercard, VisaUSD
Here is a short overview of each broker's pros and cons
- FOREX.com - Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
- NinjaTrader - NinjaTrader is a US-headquartered and regulated brokerage that specializes in futures trading. There are three pricing plans to suit different needs and budgets, as well as ultra-low margins on popular contracts. The brand's award-winning charting software and trading platform also offers a high-degree of customization and superb technical analysis features.
- eToro USA - eToro is a social investing platform that offers short-term and long-term trading on stocks, ETFs, options and crypto. The broker is well-known for its user-friendly community-centred platform and competitive fees. With FINRA and SIPC oversight and millions of users across the world, eToro is still one of the most respected brands in the industry. eToro securities trading is offered by eToro USA Securities, Inc.
- Interactive Brokers - Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
- IG - Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
- Pocket Option - Established in 2017, Pocket Option is a binary options broker offering high/low contracts on forex, stocks, indices, commodities and cryptocurrencies. With over 100,000 active users and a global reach, the platform continues to prove popular with budding traders.
- IQCent - IQCent is an offshore binary options and CFD broker based in the Marshall Islands. The brand continues to offer a range of unique account types with bonuses and perks, including payout boosts, TradeBacks and free rollovers. With 100+ assets, around-the-clock trading and 98% payouts, the firm is popular with aspiring short-term traders.
- RedMars - Launched in 2020, Cyprus-based RedMars offers competitive spreads on more than 300 instruments and leverage up to 1:500. Three accounts are available - Standard, Pro and VIP - serving a range of budgets and experience levels, with a fast and fully digital account opening process.
- 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.
- Plus500 US - Plus500 is a well-established broker that entered the US market in 2021. Authorized by the CFTC and NFA, it provides futures trading on forex, indices, commodities, cryptocurrencies, and interest rates. With a 10-minute sign-up, a manageable $100 minimum deposit, and a straightforward web platform, Plus500 continues to strengthen its offering for traders in the US.
emerchantpay Brokers Comparison
| Broker | Minimum Deposit | Instruments | Platforms | Leverage |
|---|---|---|---|---|
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$100 | Forex, Stocks, Futures, Futures Options | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral | 1:50 |
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$0 | Forex, Stocks, Options, Commodities, Futures, Crypto | NinjaTrader Desktop, Web & Mobile, eSignal | 1:50 |
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$10 | Stocks, Options, ETFs, Crypto | eToro Trading Platform & CopyTrader | - |
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$0 | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral | 1:50 |
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$0 | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting | Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral | 1:30 (Retail), 1:250 (Pro) |
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$50 | Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos | Web, MT4, MT5 | - |
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$250 | Binary Options, CFDs, Forex, Indices, Commodities, Crypto | Online Platform, TradingView | 1:500 |
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€250 | CFDs, Forex, Stocks, Indices, Commodities, Cryptos | MT5 | 1:30 (Retail), 1:500 (Pro) |
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$0 | Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA) | OANDA Trade, MT4, TradingView, AutoChartist | 1:50 |
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$100 | Futures on Forex, Commodities, Cryptos, Indices, Interest Rates | WebTrader, App | - |
FOREX.com
"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."
Christian Harris, Reviewer
FOREX.com Quick Facts
| Bonus Offer | Active Trader Program With A 15% Reduction In Costs |
|---|---|
| Demo Account | Yes |
| Instruments | Forex, Stocks, Futures, Futures Options |
| Regulator | NFA, CFTC |
| Platforms | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral |
| Minimum Deposit | $100 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:50 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN |
Pros
- There’s a wealth of educational resources including tutorials, webinars, and a stacked YouTube channel to help you get educated in the financial markets.
- With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.
- The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring day traders with a slick design and over 80 technical indicators for market analysis.
Cons
- Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.
- FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.
- Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
NinjaTrader
"NinjaTrader continues to meet the demands of active futures traders looking for low fees and premium analysis tools. The platform hosts top-rate charting features including hundreds of indicators and 10+ chart types."
Tobias Robinson, Reviewer
NinjaTrader Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Forex, Stocks, Options, Commodities, Futures, Crypto |
| Regulator | NFA, CFTC |
| Platforms | NinjaTrader Desktop, Web & Mobile, eSignal |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:50 |
| Account Currencies | USD |
Pros
- Traders can get free platform access and trade simulation capabilities in the unlimited demo
- NinjaTrader is a widely respected and award-winning futures broker and is heavily authorized by the NFA and CFTC
- Low fees are offered, with $50 day trading margins & commissions from $.09 per micro contract
Cons
- There is a withdrawal fee on some funding methods
- Non forex and futures trading requires signing up with partner brokers
- The premium platform tools come with an extra charge
eToro USA
"eToro remains a top pick for traders looking for leading social investing and copy trading services. With a low deposit, zero commissions and an intuitive platform, the broker will meet the needs of newer day traders."
eToro USA Quick Facts
| Bonus Offer | Invest $100 and get $10 |
|---|---|
| Demo Account | Yes |
| Instruments | Stocks, Options, ETFs, Crypto |
| Regulator | SEC, FINRA |
| Platforms | eToro Trading Platform & CopyTrader |
| Minimum Deposit | $10 |
| Minimum Trade | $10 |
| Account Currencies | USD |
Pros
- A free demo account means new users and prospective day traders can try the broker risk-free
- The broker's Academy offers comprehensive learning materials for beginners to advanced-level investors
- Investors can access Smart Portfolios for a more hands-off approach, covering a range of sectors and markets such as renewable energy and artificial intelligence
Cons
- There's no MetaTrader 4 platform integration for traders who are accustomed to using third-party charting tools
- There's a narrower range of day trading instruments available compared to competitors, with only stocks, ETFs and cryptos
- The proprietary terminal doesn't support trading bots and there are no additional stock market analysis tools
Interactive Brokers
"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."
Interactive Brokers Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies |
| Regulator | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM |
| Platforms | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral |
| Minimum Deposit | $0 |
| Minimum Trade | $100 |
| Leverage | 1:50 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF |
Pros
- There's a vast library of free or paid third-party research subscriptions catering to all types of traders, plus you can enjoy commission reimbursements from IBKR if you subscribe to Toggle AI.
- IBKR is one of the most respected and trusted brokerages and is regulated by top-tier authorities, so you can have confidence in the integrity and security of your trading account.
- IBKR continues to deliver unmatched access to global stocks with tens of thousands of equities available from 100+ market centres in 24 countries, most recently the Saudi Stock Exchange.
Cons
- TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
- IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.
- Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.
IG
"IG continues to provide a comprehensive package with an intuitive web platform and best-in-class education for beginners, plus advanced charting tools, real-time data, and fast execution speeds for experienced day traders."
IG Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting |
| Regulator | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM |
| Platforms | Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (Retail), 1:250 (Pro) |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD |
Pros
- The proprietary web-based platform continues to caters to traders of all levels, with advanced charting tools and real-time market data useful for day trading
- The ProRealTime advanced charting platform is free as long as certain modest monthly trading activity requirements are met
- The IG app offers a superb mobile trading experience with a clean design that helped it secure Runner Up at our Best Trading App award
Cons
- IG has discontinued its swap-free account, reducing its appeal to Islamic traders
- Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges
- While there is negative balance protection in the UK and EU, there is no account protection or guaranteed stop losses for US clients
Pocket Option
"Pocket Option excels for its easy-to-use web platform which provides a best-in-class user experience for short-term binary traders. The $50 minimum deposit is also accessible for beginners while opening an account is really easy. Looking at the negatives, Pocket Option still trails alternatives in its market offering and regulatory credentials."
Pocket Option Quick Facts
| Bonus Offer | 50% Deposit Bonus |
|---|---|
| Demo Account | Yes |
| Instruments | Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos |
| Regulator | MISA |
| Platforms | Web, MT4, MT5 |
| Minimum Deposit | $50 |
| Minimum Trade | $1 |
| Account Currencies | USD |
Pros
- The web platform shines for its straightforward design and usability that will appeal to beginners looking to speculate on popular financial markets in a few clicks
- Extremely fast and smooth sign-up process that takes less than 2 minutes
- The range of payment methods beats the majority of rivals, providing fast, secure and convenient deposits for traders in most countries
Cons
- You need to deposit $1000 to access the extended list of 250+ assets, otherwise just 130+ assets are available
- Pocket Option offers a slimmed down iteration of the MT4 and MT5 that doesn't provide the full charting package for advanced traders
- The maximum binary contract length of 4 hours is restrictive for longer-term trading strategies. Alternatives like Videforex offer binaries up to 1 month
IQCent
"IQCent will appeal to day traders looking for a straightforward binary options and CFD trading platform with low fees, a range of accounts, and copy trading. Getting started takes less than 1 minute and a $250 deposit. "
IQCent Quick Facts
| Bonus Offer | 20% to 200% Deposit Bonus |
|---|---|
| Demo Account | Yes |
| Instruments | Binary Options, CFDs, Forex, Indices, Commodities, Crypto |
| Regulator | IFMRRC |
| Platforms | Online Platform, TradingView |
| Minimum Deposit | $250 |
| Minimum Trade | $0.01 |
| Leverage | 1:500 |
| Account Currencies | USD, EUR |
Pros
- The broker's 24/7 customer support is fast and reliable, responding within 1 minute during tests
- IQCent is one of the few binary options brokers that also offers a copy trading service for hands-off traders
- Keen traders can take part in trading contests with cash prizes
Cons
- The broker is not overseen by a respected regulator, though this is common among binary options firms
- IQCent charges a punitive $10 monthly inactivity fee if you fail to place at least 1 trade per month
- The market analysis is very basic with limited technical summaries and insights from analysts
RedMars
"RedMars is the best fit for experienced day traders familiar with the MetaTrader 5 platform and based in the EU, where the broker is authorized by the CySEC. However, the threadbare education and research tools make it unsuitable for beginners."
RedMars Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, Cryptos |
| Regulator | CySEC, AFM |
| Platforms | MT5 |
| Minimum Deposit | €250 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (Retail), 1:500 (Pro) |
| Account Currencies | USD, EUR |
Pros
- Clients in the EU, in particular, can trade with peace of mind knowing RedMars is authorized by the CySEC with up to €20K compensation available through the ICF in the event of bankruptcy
- The broker is one of a limited number of firms to offer an account specially designed for VIPs with premium support and invites to exclusive events
- RedMars offers one of the best platforms for day trading, MT5, hosting 21 timeframes, dozens of analytical tools, flexible templates and algo trading
Cons
- The no-frills trading environment offers little beyond the basics, with no Islamic account, PAMM account or copy trading.
- With just 300 instruments, RedMars offers a narrow trading environment, particularly compared to category leaders like BlackBull Markets which offers 26,000 assets
- RedMars falls short for newer traders, with little in the way of education, no beginner-friendly platform, a steep minimum deposit, and inadequate support during testing
OANDA US
"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."
OANDA US Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA) |
| Regulator | NFA, CFTC |
| Platforms | OANDA Trade, MT4, TradingView, AutoChartist |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:50 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD |
Pros
- OANDA is a reliable, trustworthy and secure brand with authorization from tier-one regulators including the CFTC
- There's a strong selection of 68 currency pairs for dedicated short-term forex traders
- The proprietary OANDA web platform continues to deliver a highly competitive charting environment, including 65+ technical indicators powered by TradingView
Cons
- It's a shame that customer support is not available on weekends
- The range of day trading markets is limited to forex and cryptos only
- There's only a small range of payment methods available, with no e-wallets supported
Plus500 US
"Plus500 US stands out as an excellent choice for beginners, offering a very user-friendly platform, low day trading margins, and access to the Futures Academy to enhance trading skills."
Michael MacKenzie, Reviewer
Plus500 US Quick Facts
| Bonus Offer | Welcome Deposit Bonus up to $200 |
|---|---|
| Demo Account | Yes |
| Instruments | Futures on Forex, Commodities, Cryptos, Indices, Interest Rates |
| Regulator | CFTC, NFA |
| Platforms | WebTrader, App |
| Minimum Deposit | $100 |
| Minimum Trade | 0.0 Lots |
| Account Currencies | USD |
Pros
- Plus500 US excels for its low fees with very competitive day trading margins and no inactivity fees, live data fees, routing fees, or platform fees
- Plus500 is a publicly traded company with a good reputation, over 24 million traders, and a sponsor of the Chicago Bulls, instilling a sense of trust
- The Futures Academy is an excellent resource for new traders with engaging videos and easy-to-follow articles, while the unlimited demo account is great for testing strategies
Cons
- Despite competitive pricing, Plus500 US lacks a discount program for high-volume day traders, a scheme found at brokers like Interactive Brokers
- Although support response times were fast during tests, there is no telephone assistance
- Plus500 US does not offer social trading capabilities, a feature available at alternatives like eToro US which could strengthen its offering for aspiring traders
How Did We Choose The Best emerchantpay Brokers?
To find the top emerchantpay brokers, we:
- Scoured our library of 500 online brokers, identifying all those that support emerchantpay payments
- Checked that they accept emerchantpay deposits and withdrawals for day trading
- Sorted them by their rating, leveraging over 100 data points and our own observations
About emerchantpay
emerchantpay Limited was founded in 2002 by Jonas Reynisson. The company provides a global payment ecosystem, connecting businesses with consumers through flexible transfer solutions. It operates across industries and countries with offices in London, Munich, USA, Bulgaria, Malta, and India, among others.
Importantly, emerchantpay is an intermediary gateway i.e. traders will not deal directly with the platform as you would with PayPal or MasterCard. Instead, the company provides the technology used by brokers and merchants to facilitate financial transactions, such as deposits to trading accounts.
How To Deposit Using emerchantpay
emerchantpay is available in over 80 countries including Europe, Africa, Canada, North and South America, plus the Asia-Pacific. It offers 150+ processing currencies and over 60 alternative payment methods such as cryptocurrency. The firm also offers over 25 settlement currencies.
To deposit or withdraw funds from emerchantpay-supported brokers like FXPrimus, clients can select the required service on the transactions page and choose a payment method. Additional verification may be required depending on the specific broker. Deposit and withdrawal limits may also be in place so make sure you read the fine print when you sign up with a new trading platform.
Speed
Customer reviews do not point to any issues in terms of payment speeds. As a major transaction facilitator, traders and brokers can expect same-day processing for most deposits.
Of course, emerchantpay is an intermediary between your broker and the acquiring bank, so speed will also be affected by the brokerage’s processing times and customers should check terms and conditions for full details.
Security
emerchantpay has integrated security software for risk management that detects spurious transactions and prevents fraud in real time. The rule-based risk engine protects traders’ investments and also reduces false declines.
The provider ensures that customers’ financial details are safe using Secure Socket Layer (SSL) data encryption. It also supports 3D Secure 2.0, an authentication protocol that gathers an extensive amount of transactional data and requests identity verification if the payment is found to be high-risk.
The company’s privacy policy also sets out the firm’s commitment to upholding data protection policies and maintaining the highest security standards.
Fees
Information on emerchantpay’s fee structure is limited to those charged to the broker or other businesses using the service, and they include interchange fees and other provider charges. As such, the brand itself does not appear to charge clients of the broker. With that said, traders should be aware that a number of brokers pass on any transfer costs to their clients.
Licensing & Regulation
emerchantpay is authorized as an electronic money institution by the Financial Conduct Authority (FCA). emerchantpay UK Services Limited and Group Ltd are additional companies listed under the group. emerchantpay Hong Kong Limited and Mauritius Limited are also active companies incorporated by the group.
The company holds a number of international licenses and certifications depending on the domestic market.
Customer Support
For support inquiries, clients can access customer service on the phone or email. Details are listed below. There is also an option to submit a ticket to the team via the Contact Us tab on the website.
- Phone number: +44 800 1123344
- Email: helpdesk@emerchantpay.com
The group is also active on social media. Follow the firm on Facebook, Twitter, LinkedIn and YouTube for more information.
APIs
The firm has an API that brokers can use to integrate a payment gateway into their website, in order for customers to make transactions. The emerchantpay API documentation and a list of test payment cards are available on GitHub for developers, and a full tutorial can be found on the company’s web pages.
The platform also has a news and insights section on their website that clients can navigate to from the homepage, by clicking the provider logo.
Pros Of Trading With emerchantpay
Global Acceptance
emerchantpay allows the receipt of funds globally via the payment gateway, including across Europe, Africa, Canada, North and South America, and the Asia-Pacific. They offer more than 20 currencies for settlement and processing for over 150. Choosing a broker that supports emerchantpay makes it likely that you can deposit and withdraw in your local currency.
Multiple Funding Methods
Traders have the option of more than 50 transaction routes including card payments, eWallets, real-time bank transfers, QR codes, and pre-paid cards. This flexibility may interest traders who hold their funds across several storage options.
Cryptocurrency Supported
Like many of emerchantpays’ competitors, the firm now accepts cryptocurrency payments and also offers over 60 other Alternative Payment Methods (APMs). As crypto-asset exchanges are only increasing in popularity, many traders will appreciate the convenience of funding directly with cryptos.
Cons Of Trading With emerchantpay
No Wallet Function
emerchantpay offers technology that allows brokers to accept payments from traders, but it does not act as a wallet directly. This means there is no functionality for storing funds or debit/credit cards, although the service does validate your card details in order to retrieve funds from the bank and offers digital wallets as payment methods.
Limited Customer Service
The emerchantpay service is geared towards brokers and other businesses, to adopt their payment gateway and improve cash flow. As a result, there does not appear to be customer service contact details for individuals who may use the gateway for deposits, and this may be an issue for clients looking to resolve any problems they have encountered.
Is emerchantpay Good For Day Trading?
emerchantpay is a payment service provider that offers a wide range of traditional and alternative transaction routes, and processing in over 150 currencies which many global clients will appreciate. The provider’s advanced fraud management software offers peace of mind to traders, and the service includes an API for businesses. However, potential clients, including brokers, may be hesitant due to the lack of wallet function and dedicated customer support.
FAQ
What Is emerchantpay And How Does It Work With My Trading Broker?
emerchantpay is a payment gateway which is available in over 80 countries and offers 150 processing currencies. emerchantpay’s API allows brokers to integrate the payment gateway into their brokerage website, allowing traders to easily make deposits and withdrawals through their live accounts.
How Quickly Are emerchantpay Deposits Processed At My Broker?
Traders can expect fast same-day processing from emerchantpay. Most brokers will also process deposits on the same day, though exact timings will vary. Additionally, withdrawals may take even longer.
Is It Free To Deposit Into My Trading Account With emerchantpay?
While there are no fees levied by emerchantpay, some brokers may charge their own fees to cover processing or exchange fees. That said, many top brokers offer free deposits.