Best FasaPay Brokers 2024
FasaPay is an online payment method offered by a wide range of forex brokers. With low fees, traders can deposit or top-up their FasaPay account via bank transfer, either through the website or mobile app. In this review, we explain how to register for an account and login via your trading platform. Also, find out how the payment system compares to electronic card wallets such as PayPal or Neteller. To start trading with the best brokers that accept FasaPay deposits, see the list directly below.
Best FasaPay Brokers
We've uncovered the following 5 top brokers with FasaPay deposits and withdrawals:
FasaPay Brokers Comparison
| Broker | Minimum Deposit | Instruments | Platforms | Leverage | Visit |
|---|---|---|---|---|---|
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- | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting | WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade | 1:30 (Retail) 1:400 (Pro) | Visit |
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$5 | CFDs, Multipliers, Forex, Stocks, Indices, Commodities | Deriv Trader, MT5 | 1:1000 | Visit |
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$100 | CFDs, Forex, Stocks, Indices, Commodities | MT4, MT5, TradingView | - | Visit |
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$0 | Forex, CFDs, stocks, indices, energies, metals, commodities, cryptos | MT4, MT5, cTrader, TradingView, AutoChartist | 1:500 | Visit |
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$50 | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds | ProTrader, MT4, MT5, TradingView, DupliTrade | 1:500 | Visit |
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$100 | Forex, CFDs, Indices, Shares, Energies, Metals, Cryptos | CMTrading Webtrader, MT4 | 1:200 | Visit |
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$0 | CFDs, Forex, Stocks, Indices, Commodities, Crypto | MT4, MT5, cTrader, TradingView, DupliTrade | 1:500 | Visit |
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$50 | Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos | Web, MT4, MT5 | - | Visit |
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$0 | Forex, CFDs, indices, shares, commodities, cryptocurrencies | MT4, AutoChartist, DupliTrade | 1:400 | Visit |
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$200 | CFDs, Forex, Commodities, Stocks, Indices | MT4, MT5, TradingView, TradingCentral | 1:500 | Visit |
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$100 | Forex, CFDs, indices, shares, commodities, cryptocurrencies | MT4, MT5, cTrader | 1:400 (CIMA), 1:30 (MFSA) | Visit |
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$50 | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Crypto | AppTrader, ProTrader, MT4, MT5, TradingView, TradingCentral | 1:1000 | Visit |
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$5 | Forex, CFDs, Indices, Shares, Commodities, Cryptos | MT4, MT5 | 1:1000 | Visit |
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$1 | CFDs, Forex, Stocks, Cryptos, Commodities | MT4 | 1:2000 | Visit |
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$10 | CFDs, Forex, Indices, Shares, Energies, Metals, Cryptocurrencies, Binary Options | MT4, MT5 | 1:500 | Visit |
#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, 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
- 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)
Pros
- WebTrader is well-suited to beginners and features a strong suite of technical analysis tools and market research for day traders
- Automated trading is supported through MetaTrader Expert Advisors (EAs), as well as the AvaSocial and DupliTrade tools
- The broker offers reliable 24/5 multilingual customer support with fast response times during testing
Cons
- Traders from the US are not accepted
- It’s a shame that there are no rebate schemes for serious traders looking for additional perks - CMC Markets would be a better choice here
- There’s an above-average $50 inactivity fee after three months, though this won't impact active day traders
#2 - 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
- There's a good range of fast deposit and withdrawal methods with zero payment fees and low minimum deposits
- The low $5 minimum initial deposit suits those on a lower budget
- The free demo account is ideal for practicing short-term trading strategies and no registration is required
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
#3 - Eightcap
Why We Chose Eightcap
"Eightcap delivers in every area for day traders with a growing selection of charting platforms and AI-powered tools. Now sporting 250+ crypto CFDs and the Crypto Crusher market scanner, it's also become a stand-out choice for crypto trading, winning our 'Best Crypto Broker' award two years in a row."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Indices, Commodities
- Regulator: ASIC, FCA, xCySEC, SCB
- Platforms: MT4, MT5, TradingView
- Minimum Deposit: $100
- Minimum Trade: 0.01 Lots
Pros
- Eightcap stands out with a selection of powerful trading tools, including MT4 and MT5, the innovative algorithmic trading platform Capitalise.ai, and more recently the 50-million strong social trading network TradingView.
- After bolstering its roster in 2021, Eightcap offers one of the most extensive selections of cryptocurrency CFDs in the market, with crypto/fiat pairs, crypto/crypto pairs, plus crypto indices for broader exposure to the market.
- Having excelled across all key areas for day traders, Eightcap outperformed more than 490 competitors to win our 'Best Overall Broker' award for 2024, also securing our 'Best Crypto Broker' title.
Cons
- Eightcap needs to continue bolstering its suite of instruments to match category leaders like Blackbull Markets with its 26,000+ assets, featuring a particularly weak selection of commodities.
- Despite a useful library of educational guides and e-books, Eightcap still trails IG’s comprehensive toolkit for aspiring traders with its dedicated IG Academy app and 18 course categories.
- The demo account expires after 30 days and can only be extended upon request - a notable inconvenience compared to the likes of XM with its unlimited demo mode.
#4 - BlackBull Markets
Why We Chose BlackBull Markets
BlackBull is a New Zealand-based CFD broker with trading opportunities on forex, stocks, indices, commodities and cryptos. The broker supports the MetaTrader 4 and 5 platforms as well as TradingView, cTrader and a proprietary mobile app. Clients can trade with high leverage and tight spreads from 0 pips on the broker's ECN accounts.
"BlackBull Markets will suit traders of all experience levels with thousands of tradable instruments, tight spreads and the familiar MetaTrader platforms."
- DayTrading Review Team
- Instruments: Forex, CFDs, stocks, indices, energies, metals, commodities, cryptos
- Regulator: FMA, FSA
- Platforms: MT4, MT5, cTrader, TradingView, AutoChartist
- Minimum Deposit: $0
- Minimum Trade: 0.01 Lots
- Leverage: 1:500
Pros
- Excellent educational content for beginners
- Commission-free trading with spreads from 0.0 pips
- Superb range of platforms including TradingView Pro
Cons
- Withdrawal fees with some methods
- US traders not accepted
#5 - Vantage
Why We Chose Vantage
Founded in 2009, Vantage offers trading on 1000+ short-term CFD products to over 900,000 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.
"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."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds
- Regulator: FCA, ASIC, FSCA, VFSC
- Platforms: ProTrader, MT4, MT5, TradingView, DupliTrade
- Minimum Deposit: $50
- Minimum Trade: 0.01 Lots
- Leverage: 1:500
Pros
- The low minimum deposit of $50 and zero funding fees make this broker a great choice for new traders
- The ECN accounts are very competitive with spreads from 0.0 pips and a $1.50 commission per side
- There are no short-term strategy restrictions with hedging and scalping permitted
Cons
- It's a shame that some clients will need to register with the offshore entity, which offers less regulatory protection
- The average execution speeds of 100ms to 250ms are slower than alternatives based on tests
- Unfortunately, cryptos are only available for Australian clients
FasaPay Overview
FasaPay is a trading name of Fasa Centra Solutions Ltd, an electronic payment company based in Kuala Lumpur, Malaysia. Founded in 2011, the company is a globally recognized and trusted payment method, used by 500,000+ members and over 390 merchants across 222 countries. This includes online trading brokers and aspiring investors.
The system allows users to make instant money transfers online without the need to process the payment manually. Once users have registered, they are free to top-up via bank transfer. Accounts are issued in USD and IDR and the brand uses a list of partner exchanger platforms such as EPay.
Pros Of Trading With FasaPay
Mobile Trading Review
The payment system is available as a convenient mobile app, which means mobile traders can keep track of their account balance and transaction history easily. The app is available for download from the Google Play Store for Android (APK) devices only.
Popular Among Brokers
FasaPay is offered by many well-known forex and binary options brokers, particularly those who cater to the Asian market, including Alpari, FP Markets, and Olymp Trade.
You can also send and receive money automatically by using the XML API. This is useful for tech-savvy investors who want to set up a fully automated trading system.
Supported Countries
Apart from the USA and Canada, deposits and withdrawals are accepted in 222 countries where USD or IDR bank accounts are supported, including the Philippines, Indonesia, Pakistan, Kenya, Bangladesh, Zambia, Zimbabwe, Aman, Sri Lanka, Uganda, Nigeria, Australia, India, and France.
Good Customer Support
The company offers a live chat service for prompt support with a payment error or assistance managing your funds. Traders can also try the FAQ section or get in contact via telephone (+60 3 2726 2770) or email (support@fasapay.com). Alternatively, the support team of your respective broker may be able to help with deposit and withdrawal issues.
Buyer Protection
The firm offers buyer protection for consumers, which provides support and guidance in the case of any disputes with merchants. Traders should note that this process can be lengthy, so make sure you are depositing with a trusted and reliable broker.
Cons Of Trading With FasaPay
Account Profile Required
You must have a topped-up account before it can be used, meaning it’s not as convenient as direct payment methods that allow bank-to-bank transactions.
Limited Currencies
The payment system currently only supports USD or IDR, so it’s not the most accessible if you compare it to the likes of Skrill. Bitcoin (BTC) is also not accepted.
Restricted Countries
Despite accepting USD and IDR bank accounts in 222 countries, the provider does not accept customers or traders from the United States or Canada.
No Card
The company does not issue its own Visa card, Mastercard, or prepaid cards. The method is, therefore, not as competitive as other more versatile electronic wallet systems.
Bank Transfer Only
Deposits and withdrawals are only available via one of the three bank transfer options, depending on your account currency: the payment gateway (IDR), the Master Changer (IDR), or via bank transfer (USD). Funding via credit or debit cards is not available.
Android Mobile App
The mobile app is only available on Android phones, which will be disappointing for the large portion of traders who use iOS devices.
Speed
It is quick and easy to sign up for FasaPay, but you will need to pass the verification process before you can top up or withdraw funds. The verification process takes 1 – 3 business days, whilst top-ups can take up to 60 minutes to show in your account.
Once verified, payments are processed instantly. With that said, brokers may have their own processing time frames, especially for withdrawals which can range from one minute to several days.
Withdrawals from FasaPay to your bank account can take 2 – 10 days after the payment company has received the withdrawal.
Security
The brand uses AES-256 high-grade SSL encryption protocols, as well as backups via Raid Hardware technology. It’s also important to ensure that your broker follows standard security procedures within the trading platform.
How To Deposit Using FasaPay
New users will need to open an IDR or USD account through the FasaPay website and then top up using one of the deposit methods.
To deposit or withdraw into your trading account, select FasaPay in the funding section and enter the amount. Your broker will then redirect you to the payment provider’s portal where you will need to sign in to the member’s area and confirm the transaction.
Note that FasaPay has account limits depending on your membership status (Registered, Active or Verified). These limits are quite high, with the minimum deposit and withdrawal amounts set at $1,000 for both Active and Verified members. Your broker may also have its own funding limit, so make sure to check this beforehand.
Fees & Rates
FasaPay charges a 0.5% (minimum $0.01) transfer fee for Active and Verified members. There are no costs for deposits or withdrawals but your broker may charge their own processing fees. For example, RoboForex charges up to 4% in withdrawal fees. Other brokers may cover all costs, including XM and IQ Option.
Is FasaPay Good For Day Trading?
Once past the verification process, traders with USD or IDR bank accounts will benefit from a simple online payment method with no fees for deposits or withdrawals. FasaPay also follows industry-standard security procedures. However, the limited accepted currencies and lack of e-wallet card storage will rule out a lot of traders who may prefer more flexible options, such as PayPal or Perfect Money.
FAQ
How Do I Use FasaPay In My Trading Account?
To deposit or withdraw, you will need to select FasaPay in the funding section of your trading platform and sign in to your FasaPay account when it redirects you. You will then need to confirm the transaction within the portal to complete the payment.
Is FasaPay Legit And Safe To Use At My Broker?
Fasa Centra Solutions Ltd is a legitimate company based in Malaysia that’s been in operation since 2011. FasaPay is a safe payment method that uses AES-256 encryptions. That said, it’s also worth checking what security measures your broker has in place to safeguard your trading account.
Does FasaPay Work In Nigeria?
Except for the United States and Canada, traders can use FasaPay in any country as long as they have a USD or IDR bank account, and as long as their broker supports it.