Best Paytrust Brokers 2024
Paytrust, or Paytrust88, is a digital payment gateway accepted by several trading brokers and forex platforms. As a popular financial transaction method in South East Asia, Paytrust enables traders from countries such as South Korea, Indonesia, Malaysia and China, to transfer funds quickly and safely.
If you’re new to the deposit option, we review the solutions on offer in this article, plus other key features of the interface, such as fees, security and customer service. We also list and compare the best brokers that accept Paytrust deposits.
Best Paytrust Brokers
Our extensive tests have revealed that these are the top 3 brokers with Paytrust:
Paytrust Brokers Comparison
| Broker | Minimum Deposit | Instruments | Platforms | Leverage | Visit |
|---|---|---|---|---|---|
|
$5 | CFDs, Multipliers, Forex, Stocks, Indices, Commodities | Deriv Trader, MT5 | 1:1000 | Visit |
|
$10 | CFDs, Forex, Indices, Shares, Energies, Metals, Cryptocurrencies, Binary Options | MT4, MT5 | 1:500 | Visit |
|
$10 | Binary Options on Forex, Metals and Cryptos | MT4, TradingView | - | Visit |
#1 - Deriv.com
Why We Chose Deriv.com
Deriv.com is a low cost, multi-asset broker with over 2.5 million global clients. With just a $5 minimum deposit, the firm offers CFDs, multipliers and more recently accumulators, alongside proprietary synthetic products which can't be found elsewhere. Deriv provides both its own in-house charting software and the hugely popular MetaTrader 5.
"Deriv.com will suit day traders looking to make fast-paced trades using CFDs and multipliers with high leverage up to 1:1000. The broker is also the industry leader in synthetic indices, which simulate real market movements and are available around the clock. "
- DayTrading Review Team
- Instruments: CFDs, Multipliers, Forex, Stocks, Indices, Commodities
- Regulator: MFSA, LFSA, VFSC, BFSC
- Platforms: Deriv Trader, MT5
- Minimum Deposit: $5
- Minimum Trade: 0.01 Lots
- Leverage: 1:1000
Pros
- The low $5 minimum initial deposit suits those on a lower budget
- Traders can use multipliers between 1 and 30, with take profit, stop loss and deal cancellation parameters
- There's a good range of fast deposit and withdrawal methods with zero payment fees and low minimum deposits
Cons
- There are limited copy trading tools and analysis features compared to alternatives like IQ Cent
- There's no loyalty program or rebate scheme for high volume traders
- The range of 100+ assets trails some competitors such as Quotex which offers 400+
#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
Pros
- High leverage up to 1:500
- Six accounts to suit different trading styles and strategies
- Micro account for beginners
Cons
- Limited regulatory oversight
- Basic education and market research
- High spreads on some assets
#3 - 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
Pros
- Low minimum deposit requirement of $10
- 30 popular trading assets
- Double-touch binaries available
Cons
- Limited educational resources
- Withdrawal fees for some payment methods
- Poor regulatory oversight reducing safety score
What Is Paytrust?
As part of the growing payment provider market, Paytrust operates as an intermediary between a client’s bank and online services, such as trading brokers. Many traders have opted to deposit and withdraw funds via the payment solution, due to the added layer of security that using an intermediary provides.
Founded in 2016, Paytrust88 supports many major banks within South East Asia, providing a consolidated platform where traders can deposit in a choice of currency, including Thai baht (THB), Vietnamese dong (VND) and Malaysian ringgit (MYR). The payment gateway also offers solutions for clients wishing to quickly convert their local currency into dollars when making a deposit.
The payment gateway operates on a secure encrypted platform that can be linked to online brokerages and optimised for use on any device. However, the company does not currently offer its solutions on a mobile app, meaning that clients can only manage their accounts via a web browser.
Fees
Paytrust appeals to traders largely due to the lack of fees needed for deposits and its availability as a payment service with many brokers. Some brokers may even absorb any transaction fees, subject to the trader depositing a certain amount. The payment solution also supports unlimited daily transactions, although some brokers may apply limits or fees for transferring money within their platform.
If exchanging currency through Paytrust, there may also be additional fees or commissions built into their swap rates. It’s worth comparing the exchange rates offered by the brand to those of foreign exchanges, to get the best value.
Transaction Speed
Once set up with bank details, Paytrust88 is a fast and safe method of depositing funds onto a brokerage or exchange. Upon opening the payment portal, traders are required to input their bank login details and password to ensure transaction security. Once these steps are complete, funds will be quickly available for trading.
Withdrawal times can vary from broker to broker, but most Paytrust withdrawals are processed within one business day. The transfer solution ensures clients that funds can be safely withdrawn with minimal delay.
Security
When considering a service like Paytrust, traders must prioritise the safety of their transactions and funds. Some brokers and payment services can operate as scams, so traders should always do their due diligence before putting their bank details anywhere. Some legitimate companies can also be hacked and have their customer data stolen.
Paytrust is a legitimate transaction intermediary which ensures that the brokerage does not have direct access to your payment information. The payment solutions claims to use “the highest encryption standard available”, providing traders with a secure connection between the broker and bank. However, it is unclear whether additional protection measures are in place, such as two-factor authentication.
How To Deposit Using Paytrust
Once you have identified a broker that offers Paytrust deposits, making payments is a simple process:
- Log in to your broker’s platform and head to the deposit and withdrawal section. You should find any fees or terms associated with your payment on this page.
- Determine the amount you wish to deposit or withdraw and enter the details into the Paytrust88 online request form. The payment gateway will open a new window that serves as the secure interface between the client’s bank and the broker.
- Traders will be required to log in to their Paytrust account before confirming the bank account they wish to use for the transfer. You may need to answer additional security questions, depending on your bank.
- The transaction is then completed and your balance will update accordingly.
Advantages Of Using Paytrust For Traders
There are several benefits of using Paytrust to fund trading accounts:
- No Daily Limits – The company enables traders to safely deposit and withdraw unlimited amounts of funds from brokers and exchanges. It is worth mentioning that individual brokers may set their own transfer limits.
- Ease Of Use – Once a Paytrust account is set up, transferring funds through the payment gateway is straightforward and efficient. Using the payment gateway eliminates the need for traders to manually input bank details or complete lengthy wire transfers to brokers, allowing them more time to trade.
- Fast Transaction Speeds – Whether depositing or withdrawing funds, traders benefit from the quick transfer speeds facilitated by the payment provider. Faster transfers may mean greater trading opportunities and enhanced fund liquidity.
- Enhanced Security – Traders don’t have to worry about giving their bank details to brokers who may be vulnerable to data leaks or are not trustworthy. Of course, traders should do their due diligence when signing up to any broker. Deposited funds may still be at risk, as well as any other personal information provided.
- Well-Supported – Many top forex brokers offer Paytrust, especially those available in Asian markets. This means clients can pay money in or out with brokers they can trust. These include FP Markets, Deriv.com and ACY Securities. It also allows investors to fund trading accounts using several major regional banks, including Maybank and CIMB.
Disadvantages Of Using Paytrust For Traders
We’ve identified a few potential drawbacks of trading with Paytrust:
- Some Brokers Charge Fees – While many brokers opt to cover Paytrust’s transaction fees, some pass these levies onto traders. Several brokers enforce minimum transaction amounts for fee exemption, which isn’t ideal for traders who wish to make smaller transfers.
- Conversion Costs – As a payment gateway that supports a range of local Asian currencies, Paytrust sets conversion rates when exchanging currency. These rates may not be preferable and might include hidden fees, so try and make sure that transfers using the payment solution remain in the same currency on both ends.
- Missing Security Features – The brand provides a safe and trustworthy platform for transactions, utilising strong encryption and secure logins. However, some enhanced security features such as two-factor authentication are missing from their service. This is something to bear in mind for cautious traders.
- Region Limited – Unfortunately, the company does not support any banks or currencies for traders outside of South East Asia. You can find suitable alternatives by searching for common payment providers in your region, or by checking out trader reviews.
- Lack of Customer Support – Other than a customer request form, Paytrust does not provide any other methods of contact initially on the website, such as an email, contact number or mailing address. Some competitors offer a range of methods including a live chat, so this may be a considerable drawback for some.
Is Paytrust Good For Day Trading?
All in all, Paytrust is a safe and legitimate method of transferring funds on a brokerage platform for forex traders in South East Asia. Operating with major banks in Indonesia, Malaysia and China such as Maybank and CIMB, the payment solution aims to support trader deposits and withdrawals seamlessly. Before using any payment service, make sure to look out for potential transaction fees or any limited security features which may compromise your investments.
FAQ
How Does Paytrust Work With My Trading Account?
Paytrust is an online payment provider that links your bank account to your live trading account. The payment gateway offers fast deposits and withdrawals in a range of Asian market currencies including THB, VND and MYR.
Is Paytrust Safe To Use With My Trading Account?
Paytrust88 is a legitimate international payment gateway accepted by many brokers and forex exchanges. When using the solution to transfer funds, traders can rely on encryption to keep their data safe. That said, it’s also important to trade with a trusted brokerage that complies with security standards.
How Do I Contact Paytrust If There Is An Issue Depositing To My Trading Account?
The company provides limited customer support. For information or help, traders will need to sign up for an account by filling in the customer request form on the website.