Best PayRedeem Brokers 2024

PayRedeem, formerly VLoad, is an online service that traders can use to transfer funds to online brokers. Owned by Global Primex Limited, it is a well-established payment method that makes it easy for investors to make fast and low-cost trading deposits. This guide will review PayRedeem by covering how it works, expected transaction times, plus transfer costs. We have also compiled a list of the top trading brokers that accept PayRedeem deposits in 2024.

Best PayRedeem Brokers

Following our exhaustive tests, these are the best 5 brokers that support PayRedeem:

PayRedeem Brokers Comparison

PayRedeem Brokers Comparison
Broker Minimum Deposit Instruments Platforms Leverage Visit
M4Markets logo
$5 Forex, CFDs, Indices, Shares, Commodities, Cryptos MT4, MT5 1:1000 Visit
Grand Capital logo
$10 CFDs, Forex, Indices, Shares, Energies, Metals, Cryptocurrencies, Binary Options MT4, MT5 1:500 Visit
FXTM logo
- Forex, CFDs, Indices, Commodities, Stocks FXTM App, MT4, MT5 - Visit
GC Option logo
$10 Binary Options on Forex, Metals and Cryptos MT4, TradingView - Visit
OspreyFX logo
$10 Forex, Cryptos, Indices, Stocks, Commodities MT4, MT5 1:500 Visit
AdroFx logo
$25 Forex, CFDs, Indices, Shares, Metals, Cryptos Allpips, MT4 1:500 Visit
LMFX logo
$50 Forex, CFDs, indices, shares, commodities MT4 1:1000 Visit

#1 - M4Markets

Why We Chose M4Markets

M4Markets is an award-winning broker regulated by the CySEC, FSA and DFSA. Although relatively new, the broker continues to improve its offering with a range of innovative tools, platforms and accounts. Beginners can start with just $5, whilst experienced investors can access leverage up to 1:5000.

"M4Markets will serve active investors looking for highly leveraged trading on powerful third-party platforms. Other investment opportunities are also available, including copy trading and MAM/PAMM accounts."

- DayTrading Review Team
  • Instruments: Forex, CFDs, Indices, Shares, Commodities, Cryptos
  • Regulator: FSA, CySEC
  • Platforms: MT4, MT5
  • Minimum Deposit: $5
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:1000

#2 - Grand Capital

Why We Chose Grand Capital

Grand Capital is a MetaTrader broker with welcome bonuses, trading competitions and an intuitive copy trading service. Several account types and 400+ assets provide trading opportunities for various types of investors and strategies. New users can also open an account and start trading in a matter of minutes.

"Grand Capital is a good broker for traders familiar with MetaTrader plus passive investors interested in copy trading and LAMM solutions. On the downside, the broker's regulatory credentials lag behind competitors."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Indices, Shares, Energies, Metals, Cryptocurrencies, Binary Options
  • Regulator: FinaCom
  • Platforms: MT4, MT5
  • Minimum Deposit: $10
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:500

#3 - FXTM

Why We Chose FXTM

FXTM is a top-rated forex and CFD broker established in 2011 and operating across 4 continents. The company is secure and regulated by leading authorities, including the FCA and CySEC. Offering 1000+ day trading markets and three account types, they cater to all levels of trader.

"FXTM is a good pick for day traders seeking low forex commissions on the MetaTrader 4 platform. That said, the range of other assets is not extensive for those looking to diversify, especially stocks and cryptocurrencies."

- DayTrading Review Team
  • Instruments: Forex, CFDs, Indices, Commodities, Stocks
  • Regulator: CySEC, FCA, FSCA, FSC
  • Platforms: FXTM App, MT4, MT5
  • Minimum Trade: 0.01 Lots

#4 - GC Option

Why We Chose GC Option

GC Option is a binary options broker offering contracts with flexible contract lengths and payouts up to 86% on 27 instruments. This is one of the few binary options brokers to support MetaTrader 4, which it provides alongside two proprietary trading platforms.

"Binary options traders who favor the MetaTrader 4 platform should try out GC Option. The double-touch contracts and selection of expiry times offer a good range of trading opportunities."

- DayTrading Review Team
  • Instruments: Binary Options on Forex, Metals and Cryptos
  • Platforms: MT4, TradingView
  • Minimum Deposit: $10
  • Minimum Trade: $1

#5 - OspreyFX

Why We Chose OspreyFX

OspreyFX is an ECN broker headquartered in St. Vincent and the Grenadines. Established in 2019, the firm offers 120+ forex and CFD assets with high leverage up to 1:500, tight spreads from 0.1 pips and round-the-clock customer support. OspreyFX also stands out for its funded trading accounts where traders can keep up to 70% of profits.

"We recommend OspreyFX for day traders seeking a true ECN broker with high leverage, low spreads and ultra-fast execution speeds. The firm is also a good option for traders looking for funded accounts with a three-step process to secure funding and competitive profit splits."

- DayTrading Review Team
  • Instruments: Forex, Cryptos, Indices, Stocks, Commodities
  • Platforms: MT4, MT5
  • Minimum Deposit: $10
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:500

What Is PayRedeem?

PayRedeem is a voucher card payment system available to users around the world. It was launched in 2007 with the aim of facilitating secure transactions between customers and merchants, such as day traders and online brokers.

All cards are given a ‘ribbon’ which is a classification of what the card can be used for. If you are using a card to transfer funds to and from a broker, the card will be given a ‘brokerage’ ribbon.

The firm makes use of three types of eCard to process payments. These are called Standard, Subscription and Payout and can be bought on the main dashboard after you login.

Importantly, when you purchase an eCard, you have to specify the merchant it will be used for. An example can be seen below where the chosen merchant is the online trading broker, FXTM.

Trading platforms that accept PayRedeem
Making Deposits To FXTM With PayRedeem

Payment Speed

Brokers that accept PayRedeem deposits usually process payments instantly, making it one of the best methods for fast access to the financial markets. Alpari, for example, processes PayRedeem deposits immediately.

On the other hand, withdrawals generally take longer. At most trading brokers, PayRedeem withdrawals take a full business day, though this can vary. For instance, forex broker LQDFX says withdrawals can take up to 48 hours.

Overall though, most PayRedeem brokers offer fast deposits and withdrawals versus alternative payment methods, such as wire transfers.

Fees & Limits

Transactions tend to be free but you may find that certain PayRedeem brokers impose a fee. Fortunately, there is a decent list of brokers that accept PayRedeem deposits, such as M4Markets, that do not charge.

It is worth noting that there are caps on the minimum amount you can transfer using PayRedeem. At FXTM, the minimum deposit amount is $50.

You should also be aware that PayRedeem imposes its own transfer limits. These limits cap how much can be sent over a period and are linked to the account tier:

Note that PayRedeem charges €20 to make a withdrawal from your payment account to your bank.

Trading brokers that accept PayRedeem deposits

Security

To help protect client accounts, the company restricts card payments to their specified merchant, such as a named trading broker. This way, even if someone were to gain access to your eCard information, they could not send money to their own bank account.

Furthermore, Standard accounts expire after three days, so there is only a limited amount of time where you are vulnerable.

It’s also worth making sure that you sign up with trusted brokers that accept PayRedeem. Avoid unregulated trading platforms with negative user reviews. See our list of recommended PayRedeem brokers here.

Customer Support

There are several ways to seek help if you encounter an issue trading with PayRedeem. Clients can use any of the following methods to contact the 24/7 customer service team:

Note, PayRedeem brokers may also be able to help with deposit and withdrawal delays.

Benefits Of PayRedeem For Traders

Drawbacks Of PayRedeem For Traders

How To Deposit Using PayRedeem

Follow the guide below to make deposits and withdrawals to brokers that accept PayRedeem:

Deposits

Withdrawals

Is PayRedeem Good For Day Trading?

PayRedeem is a cost-effective and reliable method for sending funds to and withdrawing profits from your trading broker. There are some restrictions if you hold a tier o account, however, fast and secure payments make it an attractive option.

Use our list of the best brokers that accept PayRedeem deposits to start trading.

FAQ

Can I Make Deposits To PayRedeem Brokers Through A Mobile App?

At the time of writing, there was no PayRedeem mobile app, meaning the only way to access your account is through a web browser. However, there are plans to introduce an app available for download on Apple and Android devices in the future. Until then, users will need to make trading deposits from their desktop computer or laptop.

Is PayRedeem A Trustworthy Way To Fund Online Trading?

PayRedeem is a secure and trustworthy payments company. It is a genuine transfer system and there are several regulated brokers that accept PayRedeem deposits and withdrawals. For an added layer of security, traders can only make a deposit with the payment solution if they named the online brokerage as a specified merchant.

Can I Use PayRedeem Discount Codes When Making Deposits To My Trading Account?

You may be able to find PayRedeem bonus codes online, though there is no referral scheme. Some trading brokers that accept PayRedeem deposits also offer welcome bonuses, such as no deposit offers. Importantly though, always check terms and conditions before using a trading offer, as there may be volume requirements to meet before profits can be withdrawn.

Is PayRedeem Available To Traders In The USA?

PayRedeem is available in many key countries around the world, including the US, the UK, India, Canada and the EU. However, if you are a trader based in Russia, South Africa, or Albania, for example, you must use alternative payment methods. You can see the full list of countries where PayRedeem is unavailable on the website.

How Do I Make Trading Deposits With PayRedeem?

To make payments using PayRedeem, you need to purchase either a Standard or Subscription eCard. These can be bought using credit and debit cards, bank transfers or Bitcoin. Brokers that accept PayRedeem deposits can be found on the official website on the merchant list page. Alternatively, we have reviewed and ranked the best PayRedeem brokers here.