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Best Flutterwave Brokers 2023

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.

Flutterwave Brokers

These are the 5 best brokers that accept Flutterwave deposits and withdrawals:

  1. BDSwiss
  2. SuperForex
  3. Alpari
  4. Expert Option
  5. Olymp Trade

#1 - BDSwiss

BDSwiss offer 250+ shares, indices, forex, commodities and cryptocurrencies via CFDs. With spreads from zero pips and an award winning app, they offer a great package. Over 1.5 million traders from more than 180 countries have opened an account with BDSwiss since it launched.

BDSwiss will suit traders of all experience levels but active traders in particular can benefit from fast execution speeds, tight spreads and powerful trading software.

- DayTrading Review Team
  • Instruments: Forex, CFDs, indices, shares, commodities, cryptocurrencies
  • Regulator: FSC, FSA
  • Platforms: MT4, MT5
  • Min. Deposit: 100 $/€/£
  • Min. Trade: 0.01 Lots
  • Leverage: 1:30

Payment Methods

BDSwiss accepts these 5 payment methods for deposits and withdrawals:

  • Credit Card
  • Flutterwave
  • Mastercard
  • Sofort
  • Western Union

CFD Trading

Traders can go long or short on hundreds of financial instruments on award-winning platforms.

Forex Trading

BDSwiss offers online trading on 50+ currency pairs with ultra-tight spreads from 0.0 pips.

Stocks Trading

Speculate on rising and falling share prices including big stocks like Amazon, Apple and Alphabet.

Crypto Trading

Trade Micro lots (0.01) of 12+ cryptocurrencies. Major cryptos can be traded against USD, GBP and EUR.

Pros

  • Superb market research with daily insights
  • Knowledgeable support team is available 24/5 in 20 languages
  • Excellent education for beginners including webinars

Cons

  • US & UK traders not accepted
  • $30 inactivity fee after 90 days
Visit BDSwiss

#2 - SuperForex

SuperForex is an European-based forex and derivatives broker with currency pairs, commodities, cryptos, stocks and indices. The online broker also offers welcome bonuses and trading contests.

  • Instruments: CFD, Forex, Stocks, Crypto, Commodities
  • Regulator: IFSC
  • Platforms: MT4
  • Min. Deposit: $1
  • Min. Trade: 0.01 lots
  • Leverage: 1:3000

Payment Methods

SuperForex accepts these 12 payment methods for deposits and withdrawals:

  • Bitcoin Payments
  • Bitwallet
  • Credit Card
  • FasaPay
  • Flutterwave
  • Mastercard
  • Neteller
  • Perfect Money
  • Skrill
  • Sticpay
  • Visa
  • Wire Transfer

CFD Trading

Use leveraged contracts for difference to speculate on a long list of assets

Forex Trading

Take positions on an extensive list of currency pairs via the MT4 platform

Stocks Trading

Trade shares in major names from a range of countries and industries, including US technology stocks

Crypto Trading

Trade major cryptocurrencies against the USD using a choice of pricing models

Pros

  • Full range of investments
  • Copy trading
  • Demo account

Cons

  • Weak regulation
Visit SuperForex

#3 - Alpari

Alpari offer forex, CFD and binary options trading across a big range of markets with low spreads and a range of account types that deliver for every level of trader from beginner to professional.

  • Instruments: CFD, Forex, Crypto, Commodities
  • Regulator: FSC of Mauritius, SEBI, JFSA
  • Platforms: MT4
  • Min. Deposit: $5
  • Min. Trade: 0.01 Lots
  • Leverage: 1:400

Payment Methods

Alpari accepts these 21 payment methods for deposits and withdrawals:

  • ADVcash
  • Bitcoin Payments
  • Credit Card
  • Diners Club
  • EasyPay
  • Ethereum Payments
  • FasaPay
  • Flutterwave
  • GlobePay
  • Maestro
  • Mastercard
  • Neteller
  • PayRedeem
  • Perfect Money
  • RBK Money
  • Skrill
  • UnionPay
  • Vietcombank Transfer
  • WebMoney
  • Wire Transfer
  • Yandex Money

Forex Trading

Alpari International offer forex over a huge range of pairs including Major, minor and exotic pairs. All with competitive spreads and laddered leverage.

Visit Alpari

#4 - Expert Option

ExpertOption offers digital trading on forex, cryptocurrencies, commodities, indices and stocks. The user-friendly trading platform is ideal for beginners and novice investors.

  • Instruments: Options, stocks, commodities, forex, crypto, futures,
  • Regulator: SVGFSA
  • Platforms: Own
  • Min. Deposit: $10
  • Min. Trade: $/€1
  • Leverage:

Payment Methods

Expert Option accepts these 15 payment methods for deposits and withdrawals:

  • Bitcoin Payments
  • FasaPay
  • Flutterwave
  • M-Pesa
  • Maestro
  • Mastercard
  • Neteller
  • Perfect Money
  • QIWI
  • Skrill
  • UnionPay
  • Visa
  • WebMoney
  • Wire Transfer
  • Yandex Money

Forex Trading

Trade some of the most popular forex pairs with leverage up to 1:30

Stocks Trading

Trade the most popular stocks including McDonald's, Facebook, and Apple

Crypto Trading

Trade three of the biggest cryptocurrencies.

Visit Expert Option

#5 - Olymp Trade

Olymp Trade was established in 2014 and now boasts over 25k active traders each day. With a presence in over 130 countries and support in 13 languages, the brand offers a stable platform, competitive spreads and attractive rewards for new traders. Olymp Trade also offers fixed time trades over a huge range of markets.

Olymp Trade is a good option for beginners looking for access to popular financial markets, 24/7 support, and a user-friendly trading platform.

- DayTrading Review Team
  • Instruments: Fixed Time Trades
  • Regulator: FinaCom
  • Platforms: Own
  • Min. Deposit: $10
  • Min. Trade: €/$1
  • Leverage:

Payment Methods

Olymp Trade accepts these 12 payment methods for deposits and withdrawals:

  • AstroPay
  • Bitcoin Payments
  • Doku Wallet
  • FasaPay
  • Flutterwave
  • M-Pesa
  • Neteller
  • Perfect Money
  • Skrill
  • WebMoney
  • Wire Transfer
  • Yandex Money

Stocks Trading

Olymp Trade offers exposure to a modest selection of stocks, including big tech firms like Apple and Amazon. We also rate the suggested price forecasts which can inform trading decisions.

Crypto Trading

Olymp Trade offers a handful of leading cryptos like Bitcoin and Ethereum. The Basic Altcoin Index is also a great addition, offering broader exposure to the currency market for those that don't want to put all their money in one crypto.

Pros

  • Diverse asset classes including commodities, cryptos and composite indices
  • Minimum deposit and withdrawals of only $10, ideal for newer traders
  • 24/7 customer support via the broker's hotline, email or live chat

Cons

  • Limited transparency
  • Offshore broker with weak regulatory oversight
  • Only one proprietary platform available
Visit Olymp Trade

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

History

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.

Fees

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.

Speed

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.

Security

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:

Deposits

Withdrawals

Pros Of Using Flutterwave For Traders

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

Cons Of Using Flutterwave For Traders

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:

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.

FAQs

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.