Rapid Transfer is an instant online payment system launched by Skrill and supported by other well-known brands, including Neteller. With no sign-up needed and a fast login to digital banking, investors can make direct money deposits into their trading accounts.
Find out if Rapid Transfer by Skrill is a safe option, as we review the payment process, fees, deposit limits, rewards points and more. We have also compiled a list of the best brokers that accept Rapid Transfer deposits.
Best Rapid Transfer Brokers in Japan
These are the top 2 brokers that we tested which offer Rapid Transfer payments:
-
- Demo account
- Regulator: ASIC, CySEC, FSA, SCB, CMA-Kenya
- Min. deposit: $200
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- Demo account
- Regulator: BVI FSC
- Platforms: MT4, MT5
Learn how we test brokers and why you can trust our ratings.
Here is a short summary of why we think each broker belongs in this top list:
- IC 4.8/5 IC Markets (now IC) is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 200,000 clients from over 200 countries.
- InstaForex 3.2/5 InstaForex is a CFD broker providing access to forex, stocks, cryptocurrencies, commodities, energies, indices, and more. With competitive fees and a huge range of available assets, the brand offers safe and reliable trading. Millions of traders have opened an account with the firm which offers a suite of active trading and investment opportunities.
Compare The Best Rapid Transfer Brokers
| Broker | Minimum Deposit | Instruments | Platforms | Leverage |
|---|---|---|---|---|
| IC | $200 | CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto | MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade, Quantower | 1:5000 |
| InstaForex | $1 | Forex, shares, indices, metals, oil and gas, futures, cryptos, binary options | MT4, MT5 | 1:1000 |
Community Sentiment
See how users rate these brokers based on the average customer ratings submitted on DayTrading.com, plus ratings from Trustpilot, the Apple App Store and Google Play.
| Broker | Our Users' Rating | Trustpilot Score | Trustpilot Reviews | iOS App Rating | Android App Rating |
|---|---|---|---|---|---|
| IC | 3 | ||||
| InstaForex | 553 |
IC
IC (formerly IC Markets) offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders.
Christian Harris, Reviewer
IC quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
- Regulator
- ASIC, CySEC, FSA, SCB, CMA-Kenya
- Platforms
- MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade, Quantower
- Minimum Deposit
- $200
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
Pros
- You have access to over 2,250 CFDs across various markets, including forex, commodities, indices, stocks, bonds, and cryptocurrencies, allowing for diversified trading strategies.
- As a tightly regulated and widely respected broker, IC prioritizes client security and transparency, helping to ensure a reliable trading experience globally.
- IC offers among the tightest spreads in the industry, with 0.0-pip spreads on major currency pairs, making it especially cost-effective for day traders.
Cons
- Interest isn't paid on unused cash, an increasingly popular feature found at alternatives like Interactive Brokers.
- While IC offers a selection of metals and cryptos for trading via CFDs, the range is not as extensive as brokers like eToro, limiting opportunities for traders interested in these asset classes.
- Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind.
InstaForex
InstaForex is a good choice for currency traders familiar with the MT4 and MT5 platforms. The broker offers more forex pairs than most rivals with very tight spreads and a low minimum deposit.
William Berg, Reviewer
InstaForex quick facts
- Demo Account
- ✔Yes
- Instruments
- Forex, shares, indices, metals, oil and gas, futures, cryptos, binary options
- Regulator
- BVI FSC
- Platforms
- MT4, MT5
- Minimum Deposit
- $1
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR
Pros
- Good range of payment methods including bank cards
- Reputable brand that over seven million investors have signed up to in the last 15+ years
- Wide market access with hundreds of assets
Cons
- The broker’s website and Client Cabinet can feel tricky to navigate
- Mixed user reviews on third-party sites, including some complaints of withdrawal issues
How Did We Choose The Best Rapid Transfer Brokers?
To find the top Rapid Transfer brokers, we:
- Used our database of 142 online brokers to identify those accepting Rapid Transfer
- Confirmed that they support Rapid Transfer deposits and withdrawals for trading
- Sorted them by their rating, combining objective data with our test observations
What Is Rapid Transfer?
Rapid Transfer is an instant online payment brand launched by Skrill Ltd, a Paysafe company. With over 170 supported banking institutions, including Deutsche Bank and Barclays, the system allows users to move money fast and securely directly from their bank account.
Skrill has been in operation since 2001 and has been part of the Paysafe Group since 2015, along with former competitor, Neteller. The Rapid Transfer service is delivered through an integrated and secure platform, supporting fast web and mobile device transactions. This makes it a popular payment solution with active traders and investors.
Pros Of Trading With Rapid Transfer
No Registration
The payment method does not require any account sign up or mobile (iOS/APK) download. Only your online banking login details are needed to make a payment, which is ideal for traders who want to make a direct deposit without topping up a separate e-wallet account.
Fast
Payments can be made in three easy steps once you’ve been redirected from the broker’s page. Funds are authorized in seconds, meaning brokers benefit from instant settlement too.
Secure Tracking
It is one of the safest methods available, as investors benefit from the familiar security framework of their online banking service. Transactions are encrypted and bank details are never stored.
Supported Countries & Currencies
Skrill Rapid Transfers supports payments to 16 countries, including the UK and France, and 4 different currencies including GBP and EUR. In 2019, Rapid Transfer also launched in the USA, in partnership with Skrill USA Inc.
Note, Rapid Money Transfer by Ecobank is available across Africa, including Ghana and South Africa.
Flexibility
Skrill and Neteller customers can also deposit money into their digital wallets using the service, which is a handy feature if traders already have a Skrill account, for example.
International Rewards
Skrill customers can enjoy reward points via the Knect loyalty program, where you can exchange Rapid Transfer points for perks, cash vouchers, bonuses and more. User reviews of the ultimate rewards system are positive. Many of the top trading brokers and platforms also offer welcome bonuses.
Good Support Options
Skrill offers several fast contact options like a support phone number, live chat, and an FAQ page on their website. If a payment is not working or has failed, the issue is likely to be resolved quickly compared to alternatives in the market. However, the live chat service is manned by a chatbot, which only answers general queries.
Cons Of Trading With Rapid Transfer
Fees
Rapid Transfer (Skrill) may charge fees depending on the country, currency unit and transaction type. Note that your broker may also charge service fees, which you can find on the company’s website or by contacting the customer support team. Alternatively, check out our reviews of the best supporting brokers.
Speed
As the name suggests, the payment process via Rapid Transfer is quick, with transactions authorized instantly on Skrill’s side. The time it takes for your deposited or withdrawn funds to be credited may vary depending on your broker’s processing times. FBS withdrawals, for example, usually take 15-20 minutes.
Security
Rapid Transfer is a secure payment method. Banking details are never stored and remain fully encrypted with your bank. All transactions are also SSL-secured and VeriSign (Norton Secure) protected.
Skrill is also authorized by the Financial Conduct Authority (FCA) in the UK, a leading financial regulator.
How To Deposit Using Rapid Transfer
To make a deposit or withdrawal in your trading account, look for the Rapid Transfer logo in the cashier area. When prompted, enter your online banking credentials and additional security codes, such as an SMS code, a OTP (One Time Password) or mobile app confirmation. Your funds will then be processed instantly and you will be redirected back to your broker’s website.
Note that your broker may have certain deposit or withdrawal limits for trading accounts. RoboForex, for example, has a minimum deposit limit of $10, while IC Markets requires $200.
Charges & Rates
Skrill may charge some fees if, for example, you use Rapid Transfer to deposit into your Skrill wallet. From the UK and using GBP, this would be charged at 1%. Currency conversions are 3.99%. There are also other Skrill fees for various types of transactions, so bear these in mind, along with other charges that your broker may impose.
Is Rapid Transfer Good For Day Trading?
Rapid Transfer by Skrill is an excellent option for direct online bank transfers. Investors enjoy fast and safe deposits to their accounts using existing online banking credentials. There is a good list of European-supported countries and currencies as well, plus recent expansion into the USA. The notable downside is the fees (if applicable for your transaction).
Use our list of brokers that accept Rapid Transfer deposits to start trading today.
FAQ
What Is Rapid Transfer & How Does It Work For Day Trading?
Rapid Transfer is a brand launched by payment service and e-wallet, Skrill. Using it means you can make direct money transfers from your bank to your broker without signing up for an account. Funds are transacted in a few simple steps.
How Do I Make A Trading Deposit With Rapid Transfer?
To use Rapid Transfer, select the payment method within your client area and enter the amount you wish to deposit. Enter your online banking details when prompted. You may need to confirm a security code with your bank. Your payment should then be processed instantly.
Is Rapid Transfer Safe To Use In My Trading Account?
Yes, the company uses SSL encryption and VeriSign technologies to protect transactions. User banking details are also never stored. Rapid Transfer is a trusted payment method owned by Skrill, a well-known UK-based payment provider which is authorized by the UK Financial Conduct Authority (FCA).