Best Google Wallet Brokers 2024

Google Wallet, formerly Google Pay, is a popular digital wallet. It offers fast and secure payments with low fees and is free to download onto Apple and Android devices. The wallet is used by many active investors, favored for its flexibility and widespread integration with trading brokers. In this review, we evaluate what Google Wallet has to offer retail traders, from deposits and withdrawal fees to payment limits and security. We also list the best trading brokers that accept Google Wallet deposits in 2024.

Best Google Wallet Brokers

After testing each option, these are the top 5 brokers with Google Wallet payments:

Google Wallet Brokers Comparison

Google Wallet Brokers Comparison
Broker Minimum Deposit Instruments Platforms Leverage Visit
XM logo
$5 Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures MT4, MT5 - Visit
VT Markets logo
$200 CFDs, Forex, Commodities, Stocks, Indices MT4, MT5, TradingView, TradingCentral 1:500 Visit
OKX logo
10 USDT Spot, futures, perpetual swaps, options AlgoTrader - Visit
ThinkMarkets logo
$0 CFDs, Forex, Stocks, ETFs, Futures, Commodities, Crypto, Spread Betting (UK Only) ThinkTrader, MT4, MT5, AutoChartist, TradingCentral 1:500 Visit
FXCM logo
$50 CFDs, Forex, Stocks, Cryptos, Commodities Trading Station, MT4, TradingView, eSignal 1:30 Visit
CEX.IO logo
$20 Cryptos TradingView - Visit
FXTM logo
- Forex, CFDs, Indices, Commodities, Stocks FXTM App, MT4, MT5 - Visit
Revolut logo
$0 Stocks, Cryptos, Commodities Own - Visit
Kucoin logo
$0 ETFs, Cryptos, Futures Own - Visit
Nexo logo
$10 Cryptos Nexo Pro - Visit
FP Markets logo
$40 CFDs, Forex, Stocks, Indices, Commodities, Bonds, ETFs, Crypto Iress, MT4, MT5, cTrader, TradingView, AutoChartist, TradingCentral 1:30 (UK), 1:500 (Global) Visit
Coinmama logo
$30 Cryptos Own - Visit
Coinbase logo
$0 Cryptos AlgoTrader - Visit
World Forex logo
$1 Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts MT4, MT5 1:1000 Visit

#1 - XM

Why We Chose XM

XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.

"XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading."

- DayTrading Review Team
  • Instruments: Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures
  • Regulator: ASIC, CySEC, DFSA, FSC, FSCA
  • Platforms: MT4, MT5
  • Minimum Deposit: $5
  • Minimum Trade: 0.01 Lots

#2 - VT Markets

Why We Chose VT Markets

Founded in 2015, VT Markets maintains its position as a top Australian multi-asset CFD broker. With 1000+ tradeable instruments and support for the MetaTrader 4 and MetaTrader 5 platforms, this broker delivers a wide range of day trading opportunities to over 200,000 clients worldwide. VT Markets is regulated by the ASIC, FSCA, and SVGFSA.

"VT Markets is a great choice for regular traders who are looking for very tight spreads and powerful charting software. The broker's share CFD offering is particularly strong, with hundreds of commission-free assets spanning multiple global markets."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Commodities, Stocks, Indices
  • Regulator: ASIC, FSCA, SVGFSA
  • Platforms: MT4, MT5, TradingView, TradingCentral
  • Minimum Deposit: $200
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:500

#3 - OKX

Why We Chose OKX

OKX is a respected cryptocurrency firm, established in 2017, that offers a large suite of products, from mining pools to NFTs. Traders can access over 400 crypto tokens via OTC trading and derivatives. With an excellent web platform, developer tools and dynamic charts, OKX is a popular choice for technical traders.

"OKX is a top pick for crypto traders looking for emerging coins and crypto projects to invest in. Traders can also make use of the broker's copy trading service and automated bots."

- DayTrading Review Team
  • Instruments: Spot, futures, perpetual swaps, options
  • Regulator: VARA
  • Platforms: AlgoTrader
  • Minimum Deposit: 10 USDT
  • Minimum Trade: Variable

#4 - ThinkMarkets

Why We Chose ThinkMarkets

Founded in 2010, ThinkMarkets is a reputable CFD and forex broker with regulation from several top-tier bodies including the FCA and ASIC. The broker provides services to over 450,000 accounts from 11 global offices. Traders can use a bespoke platform, MT4 or MT5 to access a wide variety of assets including 3500+ stocks and ETFs, 46 forex pairs and over 20 cryptocurrencies.

"With its diverse asset list, competitive fees and superb charting software, ThinkMarkets maintains its position as a top choice for most CFD traders. That said, experienced traders will particularly appreciate the range of advanced tools, including forex signals and VPS solutions."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, ETFs, Futures, Commodities, Crypto, Spread Betting (UK Only)
  • Regulator: FCA, ASIC, CySEC, FSCA, JFSA, FSA Seychelles
  • Platforms: ThinkTrader, MT4, MT5, AutoChartist, TradingCentral
  • Minimum Deposit: $0
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:500

#5 - FXCM

Why We Chose FXCM

FXCM is a respected forex and CFD broker, established since 1999. The British-headquartered broker has won multiple awards and operates in various jurisdictions, including the UK and Australia. With zero commissions, over 400 assets, and a range of analysis tools, FXCM remains a popular choice for day traders. The broker is also regulated by top-tier authorities including the FCA and ASIC.

"FXCM maintains its position as a top pick for traders deploying automated trading strategies, with four powerful platforms, strategy backtesting and algo trading through APIs. The broker is also great for active traders, with discounted spreads and low to zero commissions on popular assets."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Cryptos, Commodities
  • Regulator: FCA, CySEC, ASIC
  • Platforms: Trading Station, MT4, TradingView, eSignal
  • Minimum Deposit: $50
  • Minimum Trade: Variable
  • Leverage: 1:30

About Google Wallet

Google Wallet is a mobile payment app most popular amongst Android users. Consumers can link their debit, credit, loyalty, and gift cards to the digital wallet in just a few clicks. Using near field connections (NFC) technology, it enables quick, contactless payments wherever you are. Card information is also always encrypted.

Since the product first launched in 2011, in an attempt to limit losing customers to competitor wallets available on devices such as the iPhone or Samsung Galaxy Watch, its userbase has grown rapidly. In 2018, it had over 39 million customers, by 2021 over 100 million, and growth is expected to continue into 2024 and beyond.

It is not hard to see the brand is one of the most widely used digital wallets around the world. When compared to its competitors, Apple Pay, PayPal and Samsung Pay, it offer an equally convenient experience.

Google Wallet is supported by a long list of major banks, including NatWest, Barclays, Halifax, and Lloyds Banking Group, as well as newer fintechs such as Monzo and Revolut. It is already used by many on retail websites and in-store, with its presence at online brokerages also growing.

Google wallet broker authorization

History

Google Wallet went live in 2011. However, the first iteration was fairly restrictive. It was only compatible with a select few devices and users were required to sign up for a Google Prepaid Card or MasterCard account. In short, it was a pain to use.

In 2015, Google Wallet was succeeded by Android Pay. The new service was much more user-friendly but just three years later, it was rebranded again – Google Wallet was merged with Android Pay to create Google Pay.

Over the following years, there were many more redesigns including the short-lived Google Pay Send. But in 2022, Google announced the return of Google Wallet.

To make things even more confusing, some places such as India will continue to use Google Pay. And if you are in the US, both Google Wallet and Pay are available to use. However, for most, including traders in the UK, Mexico, Japan, Australia, Hong Kong, and France, Google Wallet has been rolled out.

Fees

Google Wallet is a free app available to download from the Google Play and Apple App stores. There are no fees charged when using debit cards or when you transfer money to other accounts. However, credit card users will pay a 2.9% fee on each transaction. The merchant will also be charged a fee for the authorization of a credit card transaction, which may be passed onto the trader.

Brokers do not make a “commission” on Google Wallet transfers, however they may choose to add additional processing fees. With that said, the top trading platforms that accept Google Wallet deposits and withdrawals do not charge a payment fee.

Speed

Payments are typically quick but can vary somewhat depending on the method used:

Refunds can take up to 10 working days. Contact customer service if the refund time exceeds this.

Note: Some brokers require additional payment processing times which can delay transfers. However, most trading brokerages offer near-instant deposits with Google Pay / Google Wallet.

Security

Adding A Card

Adding a card to the Google Wallet is simple and secure. Users will receive a verification code which will be sent by email, text, phone, or via a banking app. Alternatively, you can reach the customer care service via email, online, or via a toll-free UK helpline number. All cards are given a virtual card number (via encryption) which ensures your card details are not shared with merchants.

If verification is not working or is declined, ensure you have selected the right contact number and email address.

Deposits

There are additional security measures in place to protect deposits and withdrawals. Quick access to the app requires identity confirmation via a 4 or 6 digit pin, password, pattern, or fingerprint. Without this, the login process won’t work and users will receive an error message. Payments cannot be made without unlocking the home screen and there is no shortcut around this.

Trading brokers may also add additional security measures that users will need to comply with to make deposits and withdrawals. For more information on measures implemented by your broker, visit their website or our reviews.

Emergencies

There are also a number of security protocols in the APK (Android application package). If your device is lost or stolen, you can remotely lock or wipe your device using the Android Device Manager settings from another device.

Although there is no contactless transaction limit, users can check for fraudulent activity by reviewing receipts, merchant ID, and the merchant’s registered address under Payment History.

How To Use Google Wallet

Check For A Demo Account

Whichever digital wallet you are using, check the broker’s website for a demo account before committing funds. Here you can test your trading skills without risking money. Demo accounts are usually quick and simple to set up and do not require users to commit to a contract.

Add Funds To Your Card

Google Wallet connects directly to the cards that have been added. If using debit cards or PayPal to finance your position, you will need to ensure the accounts have sufficient funds to trade.

Select Your Card

The process to add, update, delete or remove a card is straightforward. Click on the Google Wallet logo and open the app. Here you can add a credit/debit card or link to your PayPal account. Cards can be added by taking a photo or manually adding the information.

All new payment methods will need to pass the verification process explained above. If that doesn’t work, there are a number of tutorials that have been uploaded on YouTube to help customers or alternatively, get in touch with the customer service team.

Deposit Into Your Account

As detailed above, deposit processing times will depend on the payment method chosen. Further delays may also occur depending on the broker’s processing times for deposits and withdrawals. Some brokerages may offer rewards or bonuses when depositing so check the brand’s website for any promotions when signing up.

Although there are no minimum or maximum transaction limits, brokers may restrict the amount traders can deposit or withdraw.

Pros Of Trading With Google Wallet

Now you know how it works, we have summarised the key benefits of Google Wallet brokers:

Cons Of Trading With Google Wallet

There are a few but important drawbacks to appreciate when using Google Wallet for trading:

Is Google Wallet Good For Day Trading?

Google Wallet, formerly Google Pay, provides robust payment security, high-level support and flexibility to its customers. However, despite wide integration outside of investing, the number of brokers currently accepting this form of payment is limited with trading platforms preferring to take deposits directly from debit and credit cards.

We anticipate the popularity of Google Wallet to rise over the next few years. Already, we are seeing some of the best brokers integrate more digital wallet solutions to meet the needs of traders. The ability to store cryptocurrencies is something that could also offer real value to traders. Although not currently available, in January 2022, Google announced partnerships with Coinbase, Gemini and BitPay. It seems that cryptos are on the radar so it will be interesting to see how things develop.

Use our list of brokers that accept Google Wallet deposits to start trading.

FAQ

Is Google Wallet Safe To Use With My Trading Account?

Yes, Google Wallet is relatively safe. Access is only granted to users once they have confirmed the correct pin, passcode, or fingerprint. Without this, payments will not be processed. The top regulated trading brokers also follow robust security measures.

Is It Free To Deposit Into My Trading Account With Google Wallet?

Google Wallet is free to download from relevant app stores. Furthermore, there are no activity fees, however, charges are applied to credit card payments. Please also note that brokers, or third parties, may add processing fees. For more information, visit the merchant’s website.

Can I Use My iPhone To Make A Google Wallet Deposit To My Trading Account?

Yes, the Google Wallet is available to download to most Apple devices including iPhones, which means you can easily manage your account whilst trading on the go.