Sofort Brokers 2024
Sofort (part of the Klarna Group) is an online direct payment service, where traders can fund their broker accounts using just their online banking details. You may find the Sofort/Klarna logo at some brokers and e-commerce websites, but how does it compare to e-wallets such as PayPal?
If you’re wondering how it works, we’ll review all the key points in this article, including pricing, test accounts and the login process. We also list the best brokers that accept Sofort deposits and withdrawals.
Best Sofort Brokers
These are the top 10 brokers with Sofort payments, based on our tests:
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1
RoboForex$30 No Deposit BonusRoboForex Ltd and its affiliates do not target EU/EEA/UK clients. Please be aware that you are able to receive investment services from a third-country firm at your own exclusive initiative only, taking all the risks involved.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$100.01 Lots1:2000IFSCCFDs, Forex, Stocks, Indices, Commodities, ETFs, FuturesR StocksTrader, MT4, MT5, TradingViewVisa, iDeal, Trustly, Neteller, Skrill, Giropay, Sofort, Wire Transfer, Rapid Transfer, Alipay, POLi, Perfect Money, MoneyGram, Cashu, SafeCharge, WeChat Pay, Vietcombank Transfer, Volet, ecoPayz, AstroPayUSD, EUR -
2
eToro51% of retail investor accounts lose money when trading with this provider. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$10$10FCA, ASIC, CySEC, FSA, FSRA, MFSA, CNMV, AMFStocks, ETFs, Options, CryptoeToro Web, CopyTrader, TradingCentralVisa, Skrill, Neteller, Wire Transfer, Rapid Transfer, Swift, Debit Card, iDeal, Klarna, Sofort, Trustly, Przelewy24USD -
3
FXCC100% First Deposit Bonus Up To $2000
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:500CySECCFDs, Forex, Indices, Commodities, CryptoMT4Skrill, Neteller, Rapid Transfer, Sofort, Paysafecard, Visa, Bitcoin Payments, Credit Card, Debit Card, Mastercard, Wire Transfer, UnionPay, Ethereum Payments, Netbanx Asia, BoletoUSD, EUR, GBP -
4
Markets.comCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.1% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$1000.01 Lots1:30FCA, CySEC, ASIC, FSCA, FSCCFDs, Forex, Stocks, Commodities, Indices, Crypto, ETFs, Bonds, Spread Betting (UK Only)Markets.com Web/App Platform, MT4, MT5PayPal, Skrill, Neteller, Credit Card, Wire Transfer, Debit Card, iDeal, SofortUSD, EUR, GBP, ZAR, SEK, NOK, DKK, PLN, CZK, AED -
5
Admiral MarketsForex & CFDs are complex products, not suitable for everyone, and come with the high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
$1000.01 Lots1:30 (EU), 1:500 (Global)FCA, CySEC, ASIC, JSC, CMAForex, CFDs, indices, shares, commodities, cryptocurrencies, ETFs, bonds, spread bettingMT4, MT5, TradingCentralNeteller, iDeal, Skrill, PayPal, Sofort, Wire Transfer, Mastercard, POLi, Swift, Credit Card, KlarnaUSD, EUR, GBP, SEK, CHF, CZK -
6
Axi81.6% of retail investor accounts lose money when trading CFDs with this provider
$00.01 Lots1:400FCA, ASIC, DFSA, FMAForex, CFDs, indices, shares, commodities, cryptocurrenciesMT4, AutoChartistNeteller, Skrill, Credit Card, Debit Card, Visa, Mastercard, JCB Card, Wire Transfer, FasaPay, PIX Payment, Maestro, Boleto, Giropay, Sofort, POLi, BPAY, iDeal, AlipayUSD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD -
7
ForexTB
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$2500.01 Lots1:30 (Retail), 1:400 (Professional)CySECCFDs, Forex, Indices, Stocks, Commodities, CryptocurrenciesWebTrader, MT4, TradingCentralVisa, Venmo, PayPal, Neteller, Credit Card, Debit Card, Giropay, iDeal, Skrill, Sofort, Mastercard, Wire Transfer, Przelewy24USD, EUR, GBP, JPY, RUB -
8
BDSwiss
$100.01 Lots1:30FSC, FSACFDs, Forex, Stocks, Indices, Commodities, CryptoBDSwiss Webtrader, MT4, MT5Sofort, Mastercard, Credit Card, Bitcoin Payments, Wire Transfer, M-Pesa, PIX Payment, Debit Card, Skrill, NetellerUSD, EUR, GBP, SEK, PLN -
9
OBR Invest
$2500.01 Lots1:30 (Retail), 1:400 (Pro]CySECForex, commodities, cryptocurrencies, stocks, indicesMT4, TradingCentralCredit Card, Mastercard, Visa, Wire Transfer, Skrill, Neteller, Giropay, Debit Card, Rapid Transfer, Sofort, iDealEUR -
10
ActivTradesCashback on trades
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$100.01 Lots1:400FCA, SCB, CONSOBForex, CFDs, indices, shares, commodities, ETFs, cryptosMT4, MT5Skrill, Neteller, Visa, PayPal, Mastercard, Credit Card, Debit Card, Wire Transfer, SofortUSD, EUR, GBP, CHF
Here is a short summary of why we think each broker belongs in this top list:
- RoboForex - RoboForex is an online broker, established in 2009 and registered with the IFSC in Belize. Traders can choose from five accounts (Prime, ECN, R StocksTrader, ProCent, Pro) catering to different needs with trades from 0.01 lots and spreads from 0 pips. RoboForex has also enhanced its offering over the years, adding CFD instruments and launching its stock trading platform, plus the CopyFX system.
- eToro - eToro is a top-rated multi-asset platform which offers trading services in thousands of CFDs, stocks and cryptoassets. Launched in 2007, the brand has millions of active traders globally and is authorized by tier one regulators, including the FCA and CySEC. The brand is particularly popular for its comprehensive social trading platform. Crypto Trading is offered via eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. CFDs are not available in the US Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. No consumer protection. Tax on profits may apply. 51% of retail accounts lose money.
- 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.
- Markets.com - Markets.com is a respected broker, offering multi-asset trading opportunities through CFDs or spread betting (UK only). Established in 2008, the brand has an impressive 4.3 million registered customers and is overseen by trusted regulators, including the FCA, ASIC and CySEC. 79.1% of retail accounts lose money.
- Admiral Markets - Admirals is a multi-regulated broker with an excellent range of leveraged instruments, including forex, stocks, indices, ETFs, commodities, cryptos and more. The broker supports the MetaTrader 4, MetaTrader 5 and TradingCentral platforms. With both spread betting and CFDs available and thousands of instruments, this broker provides more flexibility than most rivals.
- Axi - Axi is a global forex and CFD trading firm, founded in 2007 in Sydney, Australia. Highly leveraged trading opportunities plus a $0 minimum deposit make it a popular choice among 60,000+ traders worldwide. Axi also stands out for its resources, including copy trading and Autochartist.
- ForexTB - Established in 2015, ForexTB (FXTB) is a multi-asset broker offering CFDs on over 300 instruments via its own web-based platform or the popular MetaTrader 4. FXTB offers a choice of four accounts with premium tiers enjoying tighter spreads and zero commissions, though substantial minimum investments climbing to €250k put these out of reach for most day traders.
- BDSwiss - BDSwiss is an award-winning forex and CFD broker founded in 2012. The firm offers 250+ instruments to clients in over 180 countries. With spreads from zero pips and three powerful charting platforms, they offer a rounded day trading package for beginners and seasoned investors alike. The broker is regulated by the Mauritius FSC and Seychelles FSA.
- OBR Invest - OBR Invest is a CySEC-regulated investment firm offering the MetaTrader 4 platform and 300+ instruments. The brokerage launched in 2012 and has since proven popular with forex and CFD traders with a choice of live accounts to suit different strategies and budgets.
- ActivTrades - ActivTrades is a UK-headquartered CFD and forex broker established in 2001. The brokerage is heavily regulated with licenses from the FCA, SCB, CSSF, BACEN & CVM and CMVM. Over 1000 CFDs are available spanning 7 asset classes. Over 93.60% of orders are executed at the requested price. ActivTraders also offers a selection of leading trading platforms, including MT4, MT5, TradingView and ActivTrader platforms.
Sofort Brokers Comparison
| Broker | Minimum Deposit | Instruments | Platforms | Leverage |
|---|---|---|---|---|
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$10 | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures | R StocksTrader, MT4, MT5, TradingView | 1:2000 |
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$10 | Stocks, ETFs, Options, Crypto | eToro Web, CopyTrader, TradingCentral | - |
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$0 | CFDs, Forex, Indices, Commodities, Crypto | MT4 | 1:500 |
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$100 | CFDs, Forex, Stocks, Commodities, Indices, Crypto, ETFs, Bonds, Spread Betting (UK Only) | Markets.com Web/App Platform, MT4, MT5 | 1:30 |
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$100 | Forex, CFDs, indices, shares, commodities, cryptocurrencies, ETFs, bonds, spread betting | MT4, MT5, TradingCentral | 1:30 (EU), 1:500 (Global) |
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$0 | Forex, CFDs, indices, shares, commodities, cryptocurrencies | MT4, AutoChartist | 1:400 |
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$250 | CFDs, Forex, Indices, Stocks, Commodities, Cryptocurrencies | WebTrader, MT4, TradingCentral | 1:30 (Retail), 1:400 (Professional) |
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$10 | CFDs, Forex, Stocks, Indices, Commodities, Crypto | BDSwiss Webtrader, MT4, MT5 | 1:30 |
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$250 | Forex, commodities, cryptocurrencies, stocks, indices | MT4, TradingCentral | 1:30 (Retail), 1:400 (Pro] |
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$10 | Forex, CFDs, indices, shares, commodities, ETFs, cryptos | MT4, MT5 | 1:400 |
RoboForex
"RoboForex is great if you want a vast range of 12,000+ day trading markets with ECN accounts, powerful charting and loyalty promotions. It also stands out for stock traders with its user-friendly R StocksTrader platform, featuring 3,000+ shares, fees from $0.01 and sophisticated watchlists."
Christian Harris, Reviewer
RoboForex Quick Facts
| Bonus Offer | $30 No Deposit Bonus |
|---|---|
| Demo Account | Yes |
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures |
| Regulator | IFSC |
| Platforms | R StocksTrader, MT4, MT5, TradingView |
| Minimum Deposit | $10 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:2000 |
| Account Currencies | USD, EUR |
Pros
- The broker offers two commission-free withdrawals each month in the Free Funds Withdrawal program, helping day traders to minimize transaction costs.
- RoboForex offers over 12,000 instruments, providing more short-term trading opportunities than the vast majority of online brokers, with forex, stocks, indices, ETFs, commodities, and futures.
- The R Stocks Trader platform rivals leading solutions like MT4, with netting and hedging capabilities, comprehensive backtesting, Level II pricing, and a flexible workspace.
Cons
- Despite offering a range of platforms, RoboForex still doesn't support the increasingly popular cTrader. This might deter traders who prefer this specific platform for their day trading activities and is available at firms like Fusion Markets.
- RoboForex provides a variety of account types, which, while offering flexibility, can be overwhelming for newer traders trying to choose the most suitable option for their trading style. Alternatives, notably eToro, provide a smoother entry into online trading with one retail account.
- While RoboForex offers competitive spreads, some of its account types come with high trading commissions up to $20 per lot, trailing the cheapest brokers, such as IC Markets.
eToro
"eToro's social trading platform leads the pack with a terrific user experience and active community chat that can help beginners find opportunities. There are also competitive fees on thousands of CFDs and real stocks, plus excellent rewards for experienced strategy providers."
eToro Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Stocks, ETFs, Options, Crypto |
| Regulator | FCA, ASIC, CySEC, FSA, FSRA, MFSA, CNMV, AMF |
| Platforms | eToro Web, CopyTrader, TradingCentral |
| Minimum Deposit | $10 |
| Minimum Trade | $10 |
| Account Currencies | USD |
Pros
- Exciting investment portfolios are available covering traditional market trends as well as tech, crypto and more
- eToro has bolstered its investment offering, most recently with new crypto assets, now offering over 90 digital currencies
- There's a comprehensive online training academy with accessible resources, from bitesize articles to comprehensive courses
Cons
- The lack of additional charting platforms like MT4 will reduce the appeal for seasoned day traders accustomed to using third-party software
- Traders will face currency conversion fees for account denominations other than USD
- There are no guaranteed stop loss orders which would be a useful risk management feature for beginners
FXCC
"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. "
FXCC Quick Facts
| Bonus Offer | 100% First Deposit Bonus Up To $2000 |
|---|---|
| Demo Account | Yes |
| Instruments | CFDs, Forex, Indices, Commodities, Crypto |
| Regulator | CySEC |
| Platforms | MT4 |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:500 |
| Account Currencies | USD, EUR, GBP |
Pros
- Competitive and transparent ECN spreads from 0.0 pips with zero commissions, making FXCC one of the cheapest forex brokers
- The free education section, including the 'Traders Corner' blog, offers a large selection of materials that will serve all experience levels
- There are no restrictions on short-term trading strategies like day trading and scalping
Cons
- High withdrawal fees may catch out unsuspecting traders, including a significant $45 charge for bank wire payments
- There is a threadbare selection of research tools like Trading Central and Autochartist, value-add features available at category leaders like IG
- While the range of currency pairs exceeds most alternatives, the selection of additional assets is narrow, and notably, there are no stocks
Markets.com
"Markets.com is best for active traders looking for a regulated broker with low fees and fast execution speeds of 82ms. Beginners will also enjoy the in-house platform with its user-friendly interface, clear navigation and dynamic charts."
Markets.com Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Stocks, Commodities, Indices, Crypto, ETFs, Bonds, Spread Betting (UK Only) |
| Regulator | FCA, CySEC, ASIC, FSCA, FSC |
| Platforms | Markets.com Web/App Platform, MT4, MT5 |
| Minimum Deposit | $100 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 |
| Account Currencies | USD, EUR, GBP, ZAR, SEK, NOK, DKK, PLN, CZK, AED |
Pros
- The $10 inactivity fee is only charged after 12 months of no trading activity (many competitors start charging after only 3 months)
- Traders can access the MT4 and MT5 software, which offer dozens of technical tools and a huge online community for scripts, bots and custom tools
- Markets.com continues to offer a strong proprietary platform with a TradingView-powered charting interface, pro-level technical analysis and custom alerts
Cons
- There are no auto or copy trading terminals outside of the MetaTrader platforms, such as DupliTrade
- The single retail account option doesn't offer traders any choice of trading conditions, or any additional perks for active trading
- Unlike some top competitors like XM, customer support is not available on the weekend
Admiral Markets
"Admirals is a good pick for novice-to-intermediate traders that want a trustworthy, regulated broker with access to a wide range of markets with tight spreads and no commission."
William Berg, Reviewer
Admiral Markets Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Forex, CFDs, indices, shares, commodities, cryptocurrencies, ETFs, bonds, spread betting |
| Regulator | FCA, CySEC, ASIC, JSC, CMA |
| Platforms | MT4, MT5, TradingCentral |
| Minimum Deposit | $100 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (EU), 1:500 (Global) |
| Account Currencies | USD, EUR, GBP, SEK, CHF, CZK |
Pros
- Demo account to test the broker before real-money trading
- MetaTrader 4 platform and app integration
- Tight spreads and low to zero commissions mean Admiral Markets is a good option for active traders
Cons
- Monthly inactivity fee
- US traders not accepted
- The demo account expires after 30 days
Axi
"Axi maintains its position as a top forex and CFD broker for seasoned traders, with more than 70 currency pairs, raw spreads and additional benefits for high-volume trading. Beginners will also appreciate the user-friendly copy trading service and free forex eBooks."
Axi Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Forex, CFDs, indices, shares, commodities, cryptocurrencies |
| Regulator | FCA, ASIC, DFSA, FMA |
| Platforms | MT4, AutoChartist |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:400 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD |
Pros
- The $0 minimum deposit, zero-commission pricing structure, and user-friendly copy trading service will appeal to beginners
- Axi is a well-regulated and established broker, with a strong track record since 2007
- A strong range of advanced tools are available for experienced day traders, including the Autochartist market scanner, VPS solutions and exclusive MT4 NexGen features
Cons
- The demo account expires after only 30 days - many alternative brokers that we test allow you to practice for 60 days or more
- The Axi Select program requires a $500 minimum deposit to enter the first Seed stage
- The tightest round-trip commission fees of $3.50 are only available to those who can deposit $25,000
ForexTB
"ForexTB is geared towards active traders in Europe who can afford the significant minimum deposit to quality for competitive trading conditions. However, there are better brokers with ForexTB still failing to deliver in key areas, notably pricing, research, education and support."
ForexTB Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Indices, Stocks, Commodities, Cryptocurrencies |
| Regulator | CySEC |
| Platforms | WebTrader, MT4, TradingCentral |
| Minimum Deposit | $250 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (Retail), 1:400 (Professional) |
| Account Currencies | USD, EUR, GBP, JPY, RUB |
Pros
- FXTB is one of a select few brokers to offer a professional account that maintains negative balance protection, preventing losses beyond account balances.
- Analytics from Trading Central is included, which offers additional technical tools, analytical reviews, fundamental news, and access to primary sources of information, helping to inform trading decisions.
- An extensive range of payment methods are supported from PayPal to bank cards and wire transfers, with same-day deposits and zero transfer fees
Cons
- FXTB imposes a €20 inactivity fee after just one month, deterring casual traders, while only VIP account holders get unlimited free withdrawals.
- The educational guides lack practical examples, charting analysis and interactive elements, making them of limited use for newcomers, especially compared to category leaders like IG.
- Customer support can't be relied upon for urgent trading queries with just phone and email channels and wait times of several hours during testing, seriously lagging behind alternatives like XTB.
BDSwiss
"BDSwiss will suit active day traders looking for raw pricing, fast execution and powerful trading software with a range of pre-included analysis tools. That said, the range of 250+ assets is smaller than most top competitors."
BDSwiss Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, Crypto |
| Regulator | FSC, FSA |
| Platforms | BDSwiss Webtrader, MT4, MT5 |
| Minimum Deposit | $10 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 |
| Account Currencies | USD, EUR, GBP, SEK, PLN |
Pros
- The knowledgeable support team is available 24/5 in 20 languages and the live chat service is responsive based on tests
- BDSwiss maintains its position as a fast execution broker, with speeds averaging 0.06 seconds plus 78.3% zero/positive slippage at the time of writing
- Choice of powerful day trading terminals, including an in-house app with 50+ technical tools, a Trend Analysis feature and an advanced Market Watch window
Cons
- There's a $30 inactivity fee after 90 days which is higher than several top competitors, including XM which only charges $5
- VPS plans start from €30 per month, which is not the cheapest
- The lack of a top-tier regulator like the CySEC or ASIC brings down the trust score a little
OBR Invest
"OBR Invest is a good pick for beginners with its easy-to-use trading platform, free demo account, education centre, and access to popular financial markets."
OBR Invest Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Forex, commodities, cryptocurrencies, stocks, indices |
| Regulator | CySEC |
| Platforms | MT4, TradingCentral |
| Minimum Deposit | $250 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (Retail), 1:400 (Pro] |
| Account Currencies | EUR |
Pros
- Trading Central market insights
- Leverage up to 1:400 for professional clients
- Regulated broker with CySEC license
Cons
- OBR Invest is not available to US, UK or Belgian clients
- €80 inactivity fee
- No copy trading platform
ActivTrades
"ActivTrades is an excellent option for day traders with ultra-fast execution speeds, very low spreads, no requotes and a choice of superb trading software."
ActivTrades Quick Facts
| Bonus Offer | Cashback on trades |
|---|---|
| Demo Account | Yes |
| Instruments | Forex, CFDs, indices, shares, commodities, ETFs, cryptos |
| Regulator | FCA, SCB, CONSOB |
| Platforms | MT4, MT5 |
| Minimum Deposit | $10 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:400 |
| Account Currencies | USD, EUR, GBP, CHF |
Pros
- Free webinars
- 24/5 customer support
- Fast execution speeds with an average of 0.004 seconds
Cons
- £10 monthly inactivity fee after a year of no trading
- Not available to residents in the USA and Canada
How Did We Choose The Best Sofort Brokers?
To uncover the top Sofort brokers, we:
- Pinpointed which firms offer Sofort out of the 500 online platforms in our database
- Confirmed that they support Sofort deposits and withdrawals for day trading
- Listed them by their overall rating, using over 100 data points and first-hand insights
Overview
In 2014, German payment company, Sofort GmbH, was acquired by Klarna to form the Klarna Group company. Klarna itself was founded in Sweden in 2005. Now one of Europe’s largest payment services, Klarna provides payment solutions to 150 million consumers across 550,000+ merchants in 45 countries.
Sofort, also known as ‘Pay now with Klarna’ in the UK, is an online payment and leasing service provider which allows consumers to makes purchases quickly and easily using their online banking details. Consumers enjoy direct payments, meaning there is no need to enter any card details or to create an account.
Pros Of Trading With Sofort
Demo Account
Klarna offers a live practice account which gives you 10 Euros in test money to simulate a quick transfer to a fake account. This is a great way of seeing how easily a transfer can be made and what the process involves.
No Download Required
There’s no download required to make a payment, however, Klarna does have a mobile app that you can download if you want to keep track of your purchases or deposits. This can be accessed quickly with an email address.
No Need To Register
Traders can deposit directly from their bank account to their trading platform without any hassle. This is much more convenient than other payments such as PayPal, for example, which requires you to sign up and then credit your account when you make a purchase.
Fast
The definition and meaning of ‘Sofort’ in German translates to ‘immediately’ or ‘instantly’ in English. Indeed, payments with Sofort/Klarna are instantaneous, which is ideal for those who want to trade quickly after depositing. Bear in mind, though, that some Sofort trading brokers may have their own time frames to process deposits and withdrawals.
Trusted & Established
Klarna has been around for over 15 years and is used by millions of consumers globally. Klarna is also backed by investors including Visa and Atomico. Furthermore, the company is partnered with other well-known payment services including Worldpay and is trusted by many merchants and banking providers, such as Transferwise and Western Union.
Multiple Currencies Accepted
Currencies accepted at the Klarna Checkout include AUD, CAD, CHF, PLN, DKK, EUR, GBP, NOK, SEK and USD. This is more than those offered by other methods such as Trustly and are also currencies widely used by traders.
Cons Of Trading With Sofort
Mostly European Supported Countries
Klarna supports bank accounts mainly within Europe, including France, Sweden, Finland, Norway, Denmark, German, Austria, Netherlands, Switzerland, Belgium, UK, Italy, Spain, Poland, Australia and the USA. This is rather limited compared to other payment methods, so traders from Russia or Asia, for example, may have to consider other payment providers.
Payment Cancellation Not Possible
Traders should ensure they are entering the correct amount to avoid any delays. Note that you also cannot request a chargeback with Sofort, as recurring payments or direct debits are not possible. Klarna does allow you to refund payments but you will need to contact your broker for details.
Not Offered By Many Brokers
Despite its convenience and speed, Sofort is not as commonly offered as e-wallets such as Skrill or Neteller. In addition, brokers based outside of Europe, the USA or Australia tend not to offer Sofort.
Speed
Making a payment with Sofort is instant, but you may need to check with your broker for their own processing times, which can range from a few minutes to days. Sofort also does not require account opening and registration beforehand.
Security
Sofort was designed with security in mind. The online banking login process requires a one-time PIN and TAN (confirmation code). This takes place exclusively within the Sofort GmbH software and not on the trader’s website, meaning that no sensitive information can be accessed by the broker. These details are also not stored by Klarna or Sofort, so traders can rest assured that their details are safe. The Stripe API is also secure.
How To Deposit Using Sofort
To make a deposit at a Sofort broker like ActivTrades, just look out for the Klarna or Sofort logo and ensure you already use online banking with your current bank account.
Once you’ve logged in to your trading platform, select Sofort in the funding section and follow the instructions. The service essentially works like an online bank transfer, where you enter your bank account number and sort code into the payment gateway.
Sofort also has a useful YouTube video explaining how to make a direct payment via your mobile device.
Fees & Costs
Sofort does not charge any fees for using their service, however, your broker may have their own pricing or commission structure. For example, Sofort payments at EasyMarkets, BDSwiss and ActivTrades are fee-free, whilst InstaForex charges a minimum of $1 on withdrawals.
Is Sofort Good For Day Trading?
Overall, Sofort is an ideal payment choice for traders who value speed, convenience and security. Although it’s not the most popular of methods offered by brokers, those that do have access to it can enjoy commission-free deposits and withdrawals. Traders also don’t need to register an account but they do have the option to download the app if they wish to view their transactions and online transfers.
FAQ
What Is A Sofort Payment Method For Trading?
Sofort (Pay now with Klarna) is an online direct payment service that allows day traders to make purchases using their own banking details and fund their live trading accounts.
How Long Does A Sofort Trading Deposit Take?
Sofort payments are instant but processing times for deposits or withdrawals vary from broker to broker. You can find these in your trading platform or by contacting your broker’s customer support team.
Is Sofort Safe To Use At My Broker?
Yes, Sofort by Klarna is secure and safe to use. PIN and TAN codes are never shared with the merchant, nor are your account details. The payment form is also secured with AES 256-bit encryption technology.
What Do I Do If My Sofort Trading Deposit Is Not Working?
If you have any problems with your payment, it might be worth checking with your broker that the issue isn’t on their end. If not, you can contact the Sofort buyer hotline numbers on the website, or open a live chat.
How Do I Make A Trading Deposit With Sofort?
Once you’ve logged in to your trading account, select Sofort and the amount you wish to deposit. Sofort will ask for your current account details and your bank will send you a unique PIN/TAN code as verification for the deposit.