Flutterwave Brokers 2022 - Which Brokers Accept Flutterwave?

Flutterwave is a payment gateway solution that is offered by several brokers globally. Founded in Nigeria in 2016, it provides a secure service that integrates several payment methods through API documentation, providing traders with the flexibility to fund or withdraw from trading accounts using their preferred transfer method. In this review, we look into the company’s history, how to use their services on broker platforms and the benefits of making Flutterwave deposits.

What Is Flutterwave?

Flutterwave Inc. is a global payments processing platform that provides access to several transfer solutions, including mobile money wallets, MPESA, POS, USSD plus Visa or Mastercard credit and debit cards. Additionally, the company allows clients to use its API integration and work with developers to create customisable payments apps.

Popular international payment methods, such as PayPal and Stripe, were restricted in several African countries, such as Nigeria, and Flutterwave aimed to address this. The service collects payments in over 150 currencies from around the world, including Naira, Dollar, Pound, Euro and Yuan. The company is focused on helping businesses and events manage funds from their integrated dashboard or payment links. All brokers have to do is complete a quick integration process.

Barter & Rave

Flutterwave has two major products called Barter and Rave. Barter is their product for individuals and offers virtual dollar cards where exchange rates are determined daily (a currency converter is available on their website). Rave is their business-targeted product, letting companies easily accept payments from their customers online. Other services include Flutterwave marketplace, where you can shop with online businesses.Flutterwave Technology Payment Solutions


The company was founded in 2016 by a team of ex-bankers, entrepreneurs and engineers, including Iyinoluwa Aboyeji and Olugbenga Agboola. Ownership is spread amongst the founders, though Agboola is considered the key owner as he is acting CEO of the company. The service was initially available to a host of 12 African countries, including Kenya, Mauritius, Ghana, Uganda and Zambia. Since then, they have expanded their offices with Flutterwave UK Limited and Flutterwave Inc. US.

In 2018, the company’s estimated revenue according to an annual report sat at around $50 million. Since then, Flutterwave has had a history of successful funding rounds, with a recent series C funding of $170 million in 2021, after already closing a series B funding of $35 million. According to TechCrunch, the company’s current net worth valuation is over $1 billion, giving it ‘unicorn’ status. Investors include DST Global, Tiger Global Management, Worldpay FIS and 9yards Capital. Additionally, Flutterwave has increased the number of partnerships with merchants and other technology payment solutions, such as PayPal.


Flutterwave has an affordable and transparent pricing structure. Each payment method will vary across different regions. For example, the payment system charges UK business accounts, including brokerages, a 3.5% processing fee per transaction on Visa and Mastercard, while US businesses are charged 2.9%. However, whether these transaction charges are covered by the broker or passed onto their clients is at their discretion. The broker can customise these options on their Flutterwave dashboard.

BDSwiss covers all funding method fees and offers zero charges on deposits, whereas Binance offers low withdrawal fees of 1.4% on cards or 150 NGN with bank transfers and zero deposit fees for Nigerian customers.

Deposit and withdrawal limits also vary from broker to broker.


Flutterwave facilitates highly responsive, instant deposit and withdrawal times, though the speed of transactions also depends on your bank provider or broker. For example, processing times on SuperForex are two to four business days, while transactions are instant on Binance. Some brokers require the team to approve withdrawal requests, which might only be during business hours.

Visa or Mastercard transfers are usually processed within 48 hours but can take up to five working days. Generally, funding your account using a credit/debit card via Flutterwave is instant. All cards and accounts that are funded with Flutterwave must be in your name.


Flutterwave has obtained several licenses to prove its level of commitment to customer security. The company has a Level 1 standard of The Payment Card Industry Data Security Standard (PCI-DSS). This means there is the highest standard of safety when processing card information.

Additionally, Flutterwave has a Money Service Operator’s License and is ISO certified. The company’s payment gateway also has a Payment Application Data Security Standard (PA-DSS) license.

Today, 2D payments are not enough for the protection of funds, so customers can access two-factor authentication, which is a two-step verification process on your device or card. Examples include 3D secure or OTP verification. A BVN (bank verification number) is only available for Nigerian customers and can also be used for KYC.

How To Make Flutterwave Deposits & Withdrawals

Users trading with Flutterwave can deposit and withdraw funds from their brokerage accounts at any time allowed by their broker. Every provider will have its own process for funding and emptying trading accounts. However, you can use the following steps as a guideline:


  • Follow your broker’s login process in the client area
  • On the menu of the client dashboard, click the ‘Deposit’ button
  • Then, you can select payment methods. Click on the ‘Flutterwave’ option
  • Specify the amount you want to deposit and your desired currency i.e. GBP or NGN
  • You will need to fill in relevant payment and account details to verify your transaction
  • Once you’ve completed the payment, you should be able to see the amount in your account or transaction history


  • In the client area, click ‘Withdraw’
  • Select ‘Flutterwave’ as the withdrawal method
  • Fill in the amount you want to withdraw and your desired currency
  • You will need to confirm and verify your payment details to complete the transaction
  • After the broker’s indicated processing times, you should see the amount in your bank account

Pros Of Using Flutterwave For Traders

When comparing Flutterwave vs Paystack and other payment providers, the key benefits are:

  • Easy website integration for brokers, e-commerce and online stores
  • Instant payment method using Visa or Mastercard
  • Available in many African countries
  • Fiat-to-crypto payments available
  • Downloadable mobile app
  • 150+ currencies accepted
  • Secure transfer solution
  • 2FA option

Cons Of Using Flutterwave For Traders

  • Deposit and withdrawal limits for other countries not specified on the provider’s website
  • Not as popular as other payment methods (unless based in Africa)
  • Brokers may pass processing fees onto traders
  • Mixed customer support reviews
  • Not internationally available yet

Brokers that accept Flutterwave deposits

Contact Details

If you need help with an issue regarding your holding balance, refunds, hacks or disputes, Flutterwave offers several ways to get in touch with them. Whether you’re in Zambia, Kenya, Rwanda, Ghana, GB, Zimbabwe, Nigeria or any other country, you can use the following contact details:

  • Email: hi@flutterwavego.com
  • Social Media: @theflutterwave
  • Website: Under ‘Speak with Us’ on the homepage

Flutterwave has office addresses based in several countries in Africa, as well as the US and the UK. Unfortunately, there is no telephone number or live chat option available. However, if you have a payment method query related to your broker, it would be better to reach out to your provider’s customer support team.

Final Word On Flutterwave

Flutterwave is a fast-growing payment gateway solution that offers a quick, secure and cheap method for traders when depositing and withdrawing from broker accounts. With simple backend API integration, users can opt for their preferred payment method when trading. However, it is not as widely offered by brokers as other popular payment methods. Nonetheless, Flutterwave provides great flexibility for traders, especially those in Africa, the UK or the US.


Is Flutterwave A Bank?

Flutterwave is not a banking service, it is a payment processor like PayPal and Stripe, handling transactions between the broker and your bank. Flutterwave collects money on behalf of businesses but is not allowed to keep the money or provide loans. The bank tied to your card is responsible for the acquisition of monies. Instead, Flutterwave makes its money through transaction charges, which your broker may pass on to you.

Is Flutterwave A Nigerian Company?

Yes. Flutterwave was first founded in Nigeria in 2016 by Iyinoluwa Aboyeji and Olugbenga Agboola. It has since expanded into 12 African countries, plus the UK and the US.

How Does Flutterwave Work?

Brokers sign up and create a business account with Flutterwave so that they can offer it s a payment method for their clients to fund and empty trading accounts. Flutterwave allows traders to choose any payment method on the broker’s website all with API integration.

How Do I Create A Flutterwave Account?

As a trader, you do not need to create an account with Flutterwave to choose this payment method on your broker’s website. Your provider would have already created a business account for you to be able to use Flutterwave.

Where Can I Find Out More About Flutterwave?

If you are still wondering how it all works, Flutterwave has a YouTube channel filled with helpful videos guiding individuals and businesses through their range of services.