Best QIWI Brokers 2024

Qiwi Wallet is an online and mobile payment system based in Russia alongside 20 other supported countries. The transfer service provides an e-wallet for storing customers’ bank cards and Qiwi virtual or plastic Visa cards. The payment brand is also available at a number of popular trading brokers.

In this review, we explore the account login and verification process and consider how the service matches up to competitors, such as PayPal. Find out if you should transfer money into your trading account using Qiwi. Alternatively, see our list of top brokers that accept Qiwi deposits to get started today.

Update: The Bank of Russia has revoked Qiwi Bank’s license following a series of violations and high-risk transactions. As a result, Russians may be unable to use Qiwi for online trading. See our list of alternative payment methods.

Best Qiwi Brokers

These are the best 5 brokers that support Qiwi payments, based on our tests:

QIWI Brokers Comparison

QIWI Brokers Comparison
Broker Minimum Deposit Instruments Platforms Leverage Visit
LiteForex Europe logo
$50 CFDs, Forex, Indices, Commodities MT4, MT5 1:30 Visit
NordFX logo
$10 Forex, CFDs, indices, commodities, cryptos, stocks MT4 1:1000 Visit
Binarium logo
$5 Forex, Stocks, Cryptos Own - Visit
AAAFx logo
$10 CFDs, Forex, Stocks, Indices, Commodities, Cryptos MT4, MT5 1:30 (EU), 1:500 (Global) Visit
Binary.com logo
$5 CFDs, Forex, Stocks, Cryptos MT5 1:1000 Visit
IQ Option logo
$10 CFD, Forex, Crypto, Stocks, Digital Options Own 1:500 Visit

#1 - LiteForex Europe

Why We Chose LiteForex Europe

LiteForex Europe is a CFD broker established in 2008 and authorized by the CySEC. The brokerage offers forex, commodities and indices via the MT4 and MT5 platforms. Spreads are ultra tight on ECN accounts and leverage is available up to 1:30 in line with EU regulations. LiteForex also offers a rich education centre for new day traders and social trading capabilities.

"LiteForex is a good option for active day traders with variable spreads from 0.0 pips, daily analysis and high-quality training guides. The forex copy system also lets you duplicate the positions of experienced traders."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Indices, Commodities
  • Regulator: CySEC
  • Platforms: MT4, MT5
  • Minimum Deposit: $50
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:30

Pros

  • Fast ECN execution model with low spreads from 0.0 pips
  • LiteForex offers a range of proprietary mobile app tools which are ideal for traders who want to analyze the markets on the go
  • There's a comprehensive analytics portal by Claws&Horns, which offers video reviews, expert insights and short-term trading signals

Cons

  • There are limited funding methods compared to other brands
  • The range of day trading markets is limited compared to alternatives, with no share CFDs offered
  • Cryptocurrency trading is not offered

#2 - NordFX

Why We Chose NordFX

Founded in 2008, NordFX is an offshore CFD broker offering forex, stock, commodities, indices and crypto trading to over 1.7 million clients in 190 countries. Traders access markets through the MetaTrader 4 platform and benefit from low commissions, spreads from zero and decent extra features. Minimum deposits start from just $10 and very high leverage is available up to 1:1000.

"NordFX's biggest advantages are available to upper-tier account holders, so this is a good option for experienced, higher volume traders looking for ECN, zero-spread trading. That said, the lack of regulation is a notable concern and the broker's market coverage is weak compared to alternatives."

- DayTrading Review Team
  • Instruments: Forex, CFDs, indices, commodities, cryptos, stocks
  • Platforms: MT4
  • Minimum Deposit: $10
  • Minimum Trade: $1
  • Leverage: 1:1000

Pros

  • There's an impressive 25+ payment methods, including local bank transfers, with zero fees and near-instant processing
  • There’s a good range of day trading tools available, including a VPS, calculators, live signals and an economic calendar
  • The FIX and Pro accounts will serve beginners, with minimum deposits at $10 and $100, respectively

Cons

  • With only around 100 instruments, NordFX’s market coverage is uncompetitive vs most alternatives
  • Minimum spreads in the Standard account are 2 pips, which is wider than equivalent accounts at many competitors - Vantage, for example, offers minimum quotes from 1.1 pips
  • The lack of strong regulatory oversight is a major concern as clients will receive limited safeguards

#3 - Binarium

Why We Chose Binarium

Binarium is an established international broker offering binary options trading on diverse markets including stocks, indices, forex, commodities and cryptocurrencies. Traders can start trading with as little as $1 and earn payouts up to 80% of their stake.

"Binarium is a good binary options broker for traders looking for an experienced brand with low deposit requirements and a welcome bonus."

- DayTrading Review Team
  • Instruments: Forex, Stocks, Cryptos
  • Platforms: Own
  • Minimum Deposit: $5
  • Minimum Trade: $1

Pros

  • Promotions including 100% welcome bonus and trading tournaments
  • Demo account with virtual funds
  • Low minimum deposit requirements

Cons

  • Unregulated
  • No industry established trading terminals
  • Specific bonus terms and conditions to meet before being able to withdraw funds

#4 - AAAFx

Why We Chose AAAFx

AAAFx is a forex and CFD broker, established in 2007 and headquartered in Greece. The company is regulated by the HCMC and FSCA and supports a selection of ECN accounts with low spreads, fast order executions and convenient deposits.

"AAAFx is best for forex traders seeking ECN conditions with spreads from zero and MetaTrader access. It’s also suitable for social traders with ZuluTrade support. However, AAAFx seriously falls short for newer traders with minimal research features and no educational tools."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, Cryptos
  • Regulator: HCMC, FSCA
  • Platforms: MT4, MT5
  • Minimum Deposit: $10
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:30 (EU), 1:500 (Global)

Pros

  • AAAFx supports a wide range of payment methods with near-instant funding and zero transfer fees, ensuring convenient deposits.
  • There are sophisticated MT4 and MT5 charting platforms for advanced day traders, featuring a huge selection of indicators, drawing tools, chart types, and analysis features.
  • You get fast execution speeds from 10 milliseconds with no restrictions on strategies, creating a flexible environment for day traders.

Cons

  • There are no proprietary educational tools, relying on ZuluTrade, making AAAFx less attractive to beginners compared to brokers like eToro.
  • By discontinuing ActTrader and lacking a proprietary platform, traders are limited to MetaTrader, which is outdated and less ideal for newcomers.
  • The selection of currencies is strong but AAAFx lacks depth in its stocks, indices, commodities and cryptos, limiting the range of trading opportunities.

#5 - Binary.com

Why We Chose Binary.com

Binary.com are the established pioneers of binary options. They are a well-known broker offering 150+ derivative products across a range of popular markets. With over 2.5 million users worldwide, the broker offers options multipliers and CFDs on two powerful trading platforms.

"Binary.com (now Deriv) is a great pick for beginners and advanced traders interested in short-term trading with multipliers and leveraged CFDs. The broker is also a leader in synthetic indices which simulate real market movements and are available around the clock."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Cryptos
  • Regulator: MGA, SC
  • Platforms: MT5
  • Minimum Deposit: $5
  • Minimum Trade: $1
  • Leverage: 1:1000

Pros

  • Sign up for a CFD or Multiplier account in minutes
  • Beginners can practise strategies in the demo account with unlimited virtual funds
  • Access to a range of interesting markets, including Deriv's proprietary synthetic indices which are derived from simulated markets

Cons

  • Limited regulatory oversight
  • DTrader platform only available via web browser
  • Narrow range of instruments vs other brokers

Qiwi Overview

Founded in 2007, the group is headquartered in Nicosia, Cyprus, but has an additional office in Moscow, Russia. In 2008, the Qiwi Wallet was introduced, launching push payments at checkouts in Russia. The firm’s Visa card was then instated, marking the start of the company’s international development.

The firm has roughly 106,000 of its own self-service payment terminals in Russia. These kiosks are traditional ATM-style machines that accept cash payments and top-up services for utilities, phone bills, internet, entertainment, games and so on. Each month, 29 million customers pay over 128 billion Rubles.

Among the top services offered are P2P transfers, Qiwi Visa virtual and plastic cards, Visa Personal Payments and Mastercard MoneySend. Users can also transfer funds online from other virtual wallets such as Yandex and WebMoney, or from a bank card, mobile phone, or via bank transfer. These are particularly helpful for funding live trading accounts.

Brokers that accept Qiwi deposits

Pros Of Trading With Qiwi

Strong Reputation

The brand has been around for over a decade, serving millions of customers each month and partnering with over 13,000 vendors. The group is also traded on the NASDAQ stock exchange and is offered at several well-known brokers with a decent market cap.

Stock forecast and dividend details can be found on the payment provider’s website.

Mobile App

Qiwi is available as a mobile app that you can download from Google Play or the App Store. The application allows traders to view their deposits, manage their account balance 24/7 and transfer money quickly whilst on the move. Qiwi is also supported on Google Pay and Apple Pay.

Note, the application is not available for Windows 10 or as a browser APK.

Plastic & Virtual Cards

Traders also have the flexibility of depositing using their own bank cards, Qiwi virtual cards, or plastic Visa cards. They can all be stored in their e-wallet. Once an account has been created customers can also use their wallet to buy Bitcoin (BTC) and other cryptocurrencies.

Qiwi wallet registration in English
Qiwi Visa Card

Real-Time Payments

Payments with the Qiwi Wallet are processed instantly in real-time, which is ideal for investors who want to trade straight away. Of course, some brokers may have separate time frames for processing deposits and withdrawals on their side. Fortunately, the top trading brokers process deposits almost instantly.

Fast Registration

Only a phone number is required to register for a Qiwi Wallet, meaning the overall account opening and sign-up process is faster than similar services such as Yandex.

Note, prospective clients may need to submit identity documents at the sign-up stage.

Offers & Deals

Traders also enjoy other benefits, such as special offers for Beeline, MegaFon and Tele2 customers when they pay for everyday services. Some merchants also offer Qiwi gift card options. In addition, some trading brokers offer deposit bonuses.

Cons Of Trading With Qiwi

Limited Currencies

The firm currently only offers transactions in RUB, EUR and USD, which is not the widest choice compared to other payment services such as Skrill or Sofort.

Limited Supported Countries

The payment system is only supported in 20 countries, including Russia, Kazakhstan, Moldova, Romania, Belarus, Latvia, Ukraine, Armenia, Jordan, Israel, India, Australia, Egypt, Indonesia, Kenya, Canada, and the UK. This means traders in other countries will need to consider alternative deposit options like PayPal.

English Site Unavailable

The old version of the website used to be fully in Russian. Since the last update, the company provides a few pages in English. However, the majority of information remains the same. Language change options to English are not available. Traders from the UK or elsewhere will need to ensure that their browser settings translate the content automatically.

Transaction Volume

The maximum transaction volume allowed is 15,000 RUB (around 215 GBP), which may be limiting for more seasoned investors. Of course, online brokers may also have their own thresholds, but many active traders will want to be able to deposit and withdraw in larger quantities.

Speed

Payments are actioned instantly, though your broker may have their own processing time frames. For example, AAAFx processes deposits in one business day, whilst BCS Forex and Tickmill process deposits instantly. Withdrawal times can also vary depending on the broker. Fortunately, developers continue to keep up to date with the latest technology education to ensure rapid payments.

Security

The company uses the 3DS (3D Secure) identification framework which verifies the cardholder’s identity before payment and protects against card theft. Upon verification, a one-time code is sent via SMS to the customer’s phone to confirm the purchase. As a result, traders can have peace of mind that their deposits are safe with the Qiwi Wallet.

How To Deposit Using Qiwi

Once you have a verified account, look out for the Qiwi logo in your trading account to make a deposit or withdraw revenue after reaching your price target.

There may be minimum or maximum funding limits depending on the broker, so check these beforehand. The minimum deposit at Tickmill, for example, is 100 (USD/RUB/EUR), whilst Capital.com requires a minimum deposit of at least 20 in the chosen currency.

You will then be redirected to the payment gateway in the Qiwi portal, where you will be asked to enter your account number, password and one-time SMS code. Finally, you will receive payment confirmation in real-time.

Costs

It is free to open an account and top up your wallet, but there may be fees for payment transfers. For example, bank card replenishments are 1% up to 2,000 RUB and 0% above 2,000 RUB.

Your broker may also charge their own service fees. For example, BCS Forex charges 2.5% for withdrawals. Fortunately, many of the top trading platforms offer fee-free deposits.

Is Qiwi Good For Day Trading?

Qiwi offers fast account registration, real-time payments in USD, EUR or RUB, and e-wallet transfers to and from other services, such as WebMoney and Yandex.

However, the company does charge some fees depending on the wallet payment method, so traders should bear this in mind if their broker also charges commissions. Furthermore, unless you are based in Russia and can enjoy the local benefits of Qiwi, it might be worth considering other more accessible deposit methods, such as PayPal, Skrill or Neteller.

FAQ

What Is A Qiwi Wallet And How Does It Work For Trading?

A Qiwi Wallet allows customers to make purchases online or using their mobiles without needing to provide bank account details or a card number. Your wallet can be loaded, with virtual or plastic cards, and can be used to make deposits quickly into a trading account. You can also make money transfers between other e-wallets.

Is Qiwi Legit And Safe To Use For Trading?

Yes, the Qiwi Group is a trusted and legitimate company. The firm is transparent with its information, including the ownership structure, board of directors and dividend payments. The payment processor uses the 3D-secure framework when verifying a customer’s identity online. This helps to prevent card theft and fraud.

Which Brokers Support Qiwi?

Qiwi is a widely used payment method, supported by top-rated brokers including IC Markets and XTB, though availability varies depending on your location. You can check out our list of top Qiwi brokers to see if the payment solution is available in your jurisdiction.