Best Netbanx Asia Brokers 2024
Traders looking to fund their investing accounts with Chinese Yuan (CNY) are likely to face steep international transfer fees. However, Netbanx Asia provides a cost-effective solution for many Asian traders. In this review, we rank the best brokers that accept Netbanx Asia deposits. We also provide a step-by-step guide to funding trading accounts with Netbanx, listing payment fees, transfer times, plus security features.
Best Netbanx Brokers
After extensive testing, we've uncovered the following 1 top brokers with Netbanx deposits:
Netbanx Asia Brokers Comparison
| Broker | Minimum Deposit | Instruments | Platforms | Leverage | Visit |
|---|---|---|---|---|---|
|
$0 | CFDs, Forex, Indices, Commodities, Crypto | MT4 | 1:500 | Visit |
#1 - FXCC
Why We Chose FXCC
FXCC is an established broker that’s been offering low-cost online trading since 2010. Registered in Nevis and regulated by the CySEC, it stands out for its ECN trading conditions, no minimum deposit and smooth account opening that takes less than 5 minutes.
"FXCC continues to prove itself an excellent option for forex day traders with an extensive range of 70+ currency pairs, ultra-tight spreads from 0.0 pips during testing, and high leverage up to 1:500 in the ECN XL account. "
- DayTrading Review Team
- Instruments: CFDs, Forex, Indices, Commodities, Crypto
- Regulator: CySEC
- Platforms: MT4
- Minimum Deposit: $0
- Minimum Trade: 0.01 Lots
- Leverage: 1:500
Pros
- Competitive and transparent ECN spreads from 0.0 pips with zero commissions, making FXCC one of the cheapest forex brokers
- There are no restrictions on short-term trading strategies like day trading and scalping
- FXCC is trusted and licensed by the CySEC, a top-tier European regulator offering high standards of safeguarding
Cons
- FXCC’s single platform offering is a major drawback compared to many alternatives, notably AvaTrade which provides 5 platforms to suit different trader preferences
- Although MetaTrader 4 continues to shine for technical analysis, the subpar design dampens the trading experience, especially compared to modern alternatives like TradingView
- High withdrawal fees may catch out unsuspecting traders, including a significant $45 charge for bank wire payments
What Is Netbanx?
Netbanx is the name of Paysafe’s payments platform. It is both the gateway technology and merchant Back Office.
The solution provides a local bank transfer system for Chinese residents, allowing them to move money to Netbanx Asia brokers without high international transaction costs.
This allows traders across Asia to fund their accounts or make withdrawals in Chinese Yuan (CNY) directly with brokers that accept Netbanx Asia deposits.
For Netbanx brokers, the Unified Payment Page provides an intuitive checkout solution to facilitate fast and efficient transfers.
How It Works
Payments made through Netbanx get processed through the Neteller e-wallet. As such, they go through the same measures Neteller payments would go through.
This allows traders to transfer money through an e-wallet directly to a broker that accepts Netbanx Asia deposits without paying the international transaction fee (usually up to 4.99%).
The company can ultimately support and settle card and non-card payments through various channels, from online and automated phone systems to mail orders and call centers.
The brand also offers the Net+ card, which facilitates spending at 30+ million Mastercard locations.
Fees
Netbanx allows traders to bypass the international transfer fees that are usually associated with funding foreign accounts with Chinese Yuan.
If users are trading with brokers that accept Netbanx Asia deposits, there will be no additional fees from the payment provider’s side. FXCC, for example, charges zero fees.
However, Netbanx Asia brokers may charge a withdrawal fee. The top brokers cover transaction costs, but you may need to pay a small percentage of the payment value.
Transaction Speed
Brokers that accept Netbanx deposits normally process payments within an hour. This means traders can quickly set up an account, load their trading profile, and start opening positions. FXOpen, for instance, offers immediate transfers with Netbanx.
Withdrawals usually take longer but are generally completed within three to five working days. To speed up the process, make sure you supply the broker with copies of any identity documents they request in line with their KYC and AML protocols.
Security
Netbanx Asia, Neteller, and Paysafe as a whole employ several security measures to ensure clients’ funds and personal data are kept secure and safe. This includes military-grade encryption and regular backups.
Clients also have the option to use two-factor authentication (2FA) to further secure their accounts.
How To Deposit Using Netbanx
You will first need to sign up with a broker that supports the payment solution. Accepted payment methods are usually listed in the brand’s cashier portal. Alternatively, head to our list of the top brokers that accept Netbanx Asia deposits.
In the ‘Deposits’ or ‘Withdrawals’ page of your broker’s client portal, choose the solution and input all the details required, i.e. your Netbanx account details.
Next, choose how much you want to transfer, taking into account any minimum or maximum payment limits. FXOpen, for example, has a minimum deposit of 10 CNY while the maximum transfer amount with the payment solution is 49,000 CNY.
Once you have confirmed all the details of the transfer, the process shall begin, and the money should be transferred within a few hours.
Note, you can usually view your account balance within the Client Portal.
Pros Of Netbanx Asia Brokers
- Provides a cheaper deposit method for traders using Chinese Yuan
- Uses Neteller’s proven e-wallet
- Secure transfer of trading funds
Cons Of Netbanx Asia Brokers
- Limited to traders using Chinese Yuan
- There are not many brokers that support Netbanx
- Alternative payment methods with wider use are available
Is Netbanx Good For Day Trading?
Netbanx Asia provides traders with a cheaper method of funding their foreign trading accounts with Chinese Yuan (CNY). However, it has limited availability and support among online brokers, and thus many investors prefer to use alternative deposit solutions, such as PayPal or Alipay.
Use our list of the best Netbanx Asia brokers to start trading.
FAQ
What Currency Does Netbanx Asia Support For Trading Deposits?
Netbanx provides a solution for traders looking to fund their trading accounts with Chinese Yuan (CNY). This avoids sometimes costly conversion fees for local traders looking to make deposits to brokers located abroad.
Which Trading Brokers Accept Netbanx Asia Deposits?
There is a limited number of trading platforms that accept Netbanx deposits. However, the top Netbanx brokers include FXCC and FXOpen.
How Long Are Transaction Times At Netbanx Asia Brokers?
Transaction times vary. Usually, e-wallet transfers deposit instantly or within an hour. However, withdrawals can take longer, often between three and five working days. This will ultimately depend on the Netbanx Asia broker you are trading with.
Which Traders Can Use Netbanx?
Netbanx Asia is primarily targeted towards Asian traders, particularly those looking to fund their accounts with Chinese Yuan (CNY). The payment solution helps remove expensive currency conversion costs, which can sometimes reach 4.99% of the transaction value.
Should I Use Netbanx To Fund My Trading Account?
If you are looking to fund your account with Chinese Yuan (CNY), you may want to use Netbanx Asia. The payment system allows traders to fund their accounts directly with CNY rather than having to pay international fees when depositing. This means more funds for online investing and fewer non-trading fees to contend with.