Flutterwave Brokers 2024
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. We also list the best brokers that accept Flutterwave payments.
Best Flutterwave Brokers
Based on our rigorous tests, these are the top 2 brokers with Flutterwave deposits and withdrawals:
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1
TradeviewPromotional Offer vary. Contact Tradeview for detailsRisk Warning- CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% - 89% of retail investors' accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. 74-89% of retail CFD accounts lose money.
$1000.01 Lots1:400 (CIMA), 1:30 (MFSA)CIMA, MFSAForex, CFDs, indices, shares, commodities, cryptocurrenciesMT4, MT5, cTraderWire Transfer, Credit Card, Visa, Mastercard, Skrill, Neteller, Sticpay, FasaPay, Flutterwave, Bitcoin Payments, Volet, Bitwallet -
2
Expert Option100% deposit bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$10$1N/ASVGFSAOptions, Stocks, Commodities, Forex, Crypto, Futures,Expert Option Web PlatformVisa, Skrill, Neteller, FasaPay, Mastercard, UnionPay, WebMoney, Wire Transfer, Perfect Money, Bitcoin Payments, Maestro, M-Pesa, FlutterwaveUSD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, MYR, IDR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, AED
This is why we think these brokers are the best in this category:
- Tradeview - Tradeview is an offshore forex and CFD broker based in the Cayman Islands and regulated by CIMA. Traders can access over 5000 instruments with a minimum deposit of $100. There are several third-party platforms on offer, including MetaTrader 4 (MT4) and cTrader.
- Expert Option - Expert Option is an offshore broker that offers a simple and intuitive trading experience through a bespoke, user-friendly platform. Short-term traders can access 100 popular assets via binary options contracts with payouts up to 95%, free educational resources, and market data available to upper-tier account holders.
Flutterwave Brokers Comparison
| Broker | Minimum Deposit | Instruments | Platforms | Leverage |
|---|---|---|---|---|
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$100 | Forex, CFDs, indices, shares, commodities, cryptocurrencies | MT4, MT5, cTrader | 1:400 (CIMA), 1:30 (MFSA) |
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$10 | Options, Stocks, Commodities, Forex, Crypto, Futures, | Expert Option Web Platform | N/A |
Tradeview
"After exploring the broker, I think Tradeview is a good choice for experienced traders looking for a no-frills brokerage service with rapid ECN execution, tight spreads and feature-rich software. Conversely, with the lack of top-tier regulation and educational materials, beginners may want to look elsewhere."
William Berg, Reviewer
Tradeview Quick Facts
| Bonus Offer | Promotional Offer vary. Contact Tradeview for details |
|---|---|
| Demo Account | Yes |
| Instruments | Forex, CFDs, indices, shares, commodities, cryptocurrencies |
| Regulator | CIMA, MFSA |
| Platforms | MT4, MT5, cTrader |
| Minimum Deposit | $100 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:400 (CIMA), 1:30 (MFSA) |
Pros
- The main thing that stands out for me is the wide range of platforms available at Tradeview, including the MetaTrader terminals, cTrader and Currenex, plus several software options for the broker’s real stocks trading service
- My tests uncovered a strong range of 60+ currency pairs, which is above the industry average and should allow serious forex traders to explore plenty of opportunities
- In addition, TradeView is a liquidity provider for other firms, underlining their reliability.
Cons
- I was a little disappointed to find a $35 fee for bank wire withdrawals and a 1-1.5% fee for Skrill and Neteller
- A key drawback for me is the lack of top-tier regulatory oversight. The broker’s offshore regulation with CIMA may mean that traders won’t receive robust fund protection measures. They are however, looking to bolster this area in the near future.
Expert Option
"Expert Option will suit aspiring traders who want to access the financial markets through an options broker with a very easy-to-learn bespoke platform. The user-friendly day trading platform is clear and reliable."
Expert Option Quick Facts
| Bonus Offer | 100% deposit bonus |
|---|---|
| Demo Account | Yes |
| Instruments | Options, Stocks, Commodities, Forex, Crypto, Futures, |
| Regulator | SVGFSA |
| Platforms | Expert Option Web Platform |
| Minimum Deposit | $10 |
| Minimum Trade | $1 |
| Leverage | N/A |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, MYR, IDR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, AED |
Pros
- The analytical tools for higher-level accounts are a useful addition for experienced day traders
- The broker offers an easy to use, beginner-friendly proprietary trading platform with 4 chart types and social trading features
- There are no deposit and withdrawal fees which is ideal for active traders
Cons
- The broker doesn't offer any popular leveraged products such as CFDs
- The SVGFSA is a weak financial regulator with limited safeguarding measures
- Expert Option isn't available in several countries, including the EU, Australia and the US
How Did We Choose The Best Flutterwave Brokers?
To identify the top Flutterwave brokers, we:
- Scoured our library of 500 online brokers, pinpointing all those that accept Flutterwave payments
- Checked that they support Flutterwave deposits and withdrawals for day trading
- Ranked them by their total rating, combining our first-hand observations with 100+ data points
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.
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 3.8% processing fee per transaction on Visa and Mastercard.
However, whether these transaction charges are covered by the broker or passed onto their clients is at their discretion. For example, BDSwiss covers all funding method fees and offers zero charges on deposits.
The broker can customise these options on their Flutterwave dashboard.
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 Deposit Using Flutterwave
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 at TradeView as a guideline:
Deposits
- Follow your the 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
Withdrawals
- 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
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.
Is Flutterwave Good For Day Trading?
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.
FAQ
How Does Flutterwave Work With My Trading Account?
Brokers sign up and create a business account with Flutterwave so that they can offer it as 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.
Do I Need A Flutterwave Account Before Making A Trading Deposit?
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.
Is It Quick To Deposit To My Trading Account Using Flutterwave?
Yes, Flutterwave processes transactions instantly. However, some brokers may have slightly longer processing times, up to four business days.