UnionPay International (UPI), or China UnionPay (CUP), is a payment provider popular with online brokers and traders. You may have spotted the tricolored logo on your brokerage’s website or at your local ATM, though it may not feel as familiar as Visa debit and credit cards.
The payment service offers multiple trading rewards and online shopping benefits, as well as QR code payments, which we will cover in this review. Learn more about trading with UnionPay and find out the advantages of adding a UPI card to your wallet. We also list the best brokers that accept UnionPay deposits in 2026.
Best UnionPay Brokers in Iraq
Following our evaluations, these are the top 6 brokers with UnionPay:
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- Demo account
- Regulator: FMA, FSA
- Min. deposit: $0
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- Demo account
- Regulator: FCA, ASIC, FSCA, VFSC, CIMA
- Min. deposit: $50
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- Demo account
- Regulator: FCA, CySEC, FSA, DFSA, FSCA
- Platforms: Tickmill Webtrader, MT4, MT5, TradingView
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- Demo account
- Regulator: ASIC, FSCA, FSA, FSC, CMA-UAE
- Min. deposit: $20
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- Demo account
- Regulator: CySEC, DFSA, FSA
- Platforms: MT4, MT5
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- Demo account
- Regulator: FCA, CySEC, FSCA, BVI FSC
- Platforms: MT4, MT5, AutoChartist, TradingCentral
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:
- BlackBull 4.5/5 BlackBull is a New Zealand-based CFD broker providing diverse trading opportunities on over 2,180 instruments. After undergoing a rebrand in 2023, it now sports a modern look and feel complete with professional-grade trading tools and ultra-fast execution speeds averaging 20ms.
- Vantage 4.7/5 Founded in 2009, Vantage offers trading on 1000+ short-term CFD products to millions of clients. You can trade Forex CFDs from 0.0 pips on the RAW account through TradingView, MT4 or MT5. Vantage is ASIC-regulated and client funds are segregated. Copy traders will also appreciate the range of social trading tools.
- Tickmill 4.0/5 Tickmill is a global broker authorized by trusted regulators including the CySEC and the FCA. Hundreds of thousands of traders have opened an account with the firm with more than 530 million trades executed. Advanced trading tools, educational content and low fees make this broker stand out from competitors.
- PU Prime 4.5/5 PU Prime is a forex and CFD broker offering direct market access on forex, commodities, stocks, bonds, indices, and ETFs. With four account types (Cent, Standard, Prime, ECN) and multiple platforms, from MetaTrader to its own PU Prime app, it’s built for active traders at every level.
- M4Markets 3.6/5 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.
- IronFX 3.8/5 IronFX is a multi-regulated forex and CFD broker founded in 2010. This award-winning firm offers 500+ markets to over 1.5 million clients across 180 countries. Traders can access various account types with competitive pricing on the MT4 platform, as well as 24/5 customer support in 30 languages.
Compare The Best UnionPay Brokers
| Broker | Minimum Deposit | Instruments | Platforms | Leverage |
|---|---|---|---|---|
| BlackBull | $0 | CFDs, Stocks, Indices, Commodities, Futures, Crypto | BlackBull Invest, BlackBull CopyTrader, MT4, MT5, cTrader, TradingView, AutoChartist | 1:500 |
| Vantage | $50 | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds | ProTrader, MT4, MT5, TradingView, TradingCentral, DupliTrade | 1:500 |
| Tickmill | $100 | Forex, CFDs, stocks, indices, commodities, cryptocurrencies, futures, options, bonds | Tickmill Webtrader, MT4, MT5, TradingView | 1:1000 |
| PU Prime | $20 | CFDs, Forex, Stocks, Indices, Commodities, Metals, Crypto, Bonds, ETFs, Pre-IPOs, Synthetic Indices (region-dependent) | PU Prime App, PU Web Trader, PU Social, MT4, MT5, AutoChartist | 1:1000 |
| M4Markets | $5 | Forex, CFDs, Indices, Shares, Commodities, Cryptos | MT4, MT5 | 1:5000 |
| IronFX | $100 | Forex, Indices, Shares, Futures, Commodities, Metals (all CFDs) | MT4, MT5, AutoChartist, TradingCentral | 1:30 (FCA), 1:30 (CySEC), 1:500 (FSCA), 1:1000 (BM) |
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 |
|---|---|---|---|---|---|
| BlackBull | 3519 | ||||
| Vantage | 15787 | ||||
| Tickmill | 1193 | ||||
| PU Prime | 1866 | ||||
| M4Markets | 148 | ||||
| IronFX | 725 |
BlackBull
After improving its trading infrastructure with Equinix servers in London, reducing latency for traders, BlackBull is an obvious choice if you want to day trade stock CFDs with ECN pricing. With competitive spreads and no commission on a growing roster of digital tokens paired with USD, BlackBull also works for active crypto traders.
Christian Harris, Reviewer
BlackBull quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Stocks, Indices, Commodities, Futures, Crypto
- Regulator
- FMA, FSA
- Platforms
- BlackBull Invest, BlackBull CopyTrader, MT4, MT5, cTrader, TradingView, AutoChartist
- Minimum Deposit
- $0
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, ZAR, SGD
Pros
- After partnering with ZuluTrade and Myfxbook, alongside improvements to its own CopyTrader, and finally enabling cTrader Copy, BlackBull offers one of the most comprehensive copy trading experiences we've seen.
- BlackBull offers every ingredient for day traders; fast execution speeds of <100ms and tight spreads from 0.0 pips.
- BlackBull is a much greater fit for aspiring traders following the overhaul of its ECN Prime account, now featuring improved spreads averaging 0.16 on EUR/USD and a more accessible minimum deposit of $0 compared to the old $2,000.
Cons
- Unlike most top brokers, BlackBull charges an irritating $5 withdrawal fee, which can detract from the overall cost-effectiveness, especially for active traders who frequently move funds.
- Although the Education Hub now features improvements like webinars and tutorials, the courses we’ve explored need more focus on explaining the wider economic factors influencing prices.
- Despite a growing selection of 2,180+ assets, including additions to its Asia Pacific indices, they are mainly stocks with an average selection of currency pairs and indices.
Vantage
Vantage remains an excellent option for CFD traders seeking a tightly-regulated broker with access to the reliable MetaTrader platforms. The fast sign-up process and $50 minimum deposit make it very straightforward to start day trading quickly.
Jemma Grist, Reviewer
Vantage quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds
- Regulator
- FCA, ASIC, FSCA, VFSC, CIMA
- Platforms
- ProTrader, MT4, MT5, TradingView, TradingCentral, DupliTrade
- Minimum Deposit
- $50
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN
Pros
- The app was upgraded in 2026 with wider asset visibility bringing together balances across Contract, Copy, and Funding accounts on one screen
- There’s an excellent suite of day trading software, including the award-winning platforms MT4 and MT5
- The ECN accounts are very competitive with spreads from 0.0 pips and a $1.50 commission per side (Pro ECN account)
Cons
- A steep $10,000 deposit is needed for the best trading conditions, which include the $1.50 commission per side
- The average execution speeds of 100ms to 250ms are slower than alternatives based on tests
- It's a shame that some clients will need to register with the offshore entity, which offers less regulatory protection
Tickmill
Tickmill is a stellar choice for day traders, especially if you opt for the Raw account which delivers near-zero pip spreads and impressively fast order execution during testing.
Christian Harris, Reviewer
Tickmill quick facts
- Demo Account
- ✔Yes
- Instruments
- Forex, CFDs, stocks, indices, commodities, cryptocurrencies, futures, options, bonds
- Regulator
- FCA, CySEC, FSA, DFSA, FSCA
- Platforms
- Tickmill Webtrader, MT4, MT5, TradingView
- Minimum Deposit
- $100
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, ZAR
Pros
- Tickmill’s multiple licenses with authorities like the FCA and CySEC aren’t just paperwork - they translate to real-world benefits. Your money is kept separate in secure accounts, and the broker offers negative balance protection. In practice, this means you won’t be on the hook for more than you deposit, providing peace of mind when markets get volatile.
- Based on our actual trading experience, Tickmill consistently processes orders quickly - averaging ~59 milliseconds - with very few instances of slippage or requotes. For a day trader, that means you can trust your entry and exit prices without worrying about delays that might cost you money in fast markets.
- When using the Raw Spread account, you’ll notice how tight the spreads are - sometimes even zero pips - paired with a transparent per-trade commission. This setup helps keep your overall trading costs low, which is a significant advantage when you’re making frequent trades and want to avoid hidden fees that cut into your profits.
Cons
- Tickmill primarily focuses on forex pairs, select stock CFDs, indices, and a few commodities. If you like switching between many different asset classes, like crypto or a broader range of stocks, you’ll find the choices limited compared to brokers with thousands of instruments.
- If you’re used to cTrader’s modern layout and sophisticated order types, you’ll miss that here. Tickmill sticks with MetaTrader 4 and 5, as well as TradingView and its own proprietary platform, so there’s no cTrader option. This might slow down traders who rely on cTrader’s workflow or specific tools, such as cTrader Copy.
PU Prime
PU Prime is a great fit for experienced, high-volume traders with its ECN account offering tight spreads from 0.0 pips and low commissions from $1/side. The addition of an easy-to-use copy trading app, alongside the stacked Trading Academy with progression levels, also makes PU Prime a strong option for aspiring traders.
Tobias Robinson, Reviewer
PU Prime quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Indices, Commodities, Metals, Crypto, Bonds, ETFs, Pre-IPOs, Synthetic Indices (region-dependent)
- Regulator
- ASIC, FSCA, FSA, FSC, CMA-UAE
- Platforms
- PU Prime App, PU Web Trader, PU Social, MT4, MT5, AutoChartist
- Minimum Deposit
- $20
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD
Pros
- PU Prime has upped its game over the years, including launching its PU Social app in 2022, securing ASIC authorization for its Australian entity in 2025, and adding over 200 trading instruments, bringing the total to 1,000+, while 2026 brought around-the-clock share CFDs on prominent US stocks.
- PU Prime has added a dynamic leverage system for high-impact economic news releases and weekend gaps, helping to protect accounts from extreme market volatility.
- There’s a great suite of tools for short-term traders, from practical margin and position sizing calculators to economic calendars and strong technical insights via Autochartist.
Cons
- The ECN account’s $10,000 minimum deposit puts the best pricing out of reach for some active retail traders who may end up paying more for spreads and commissions on Prime, Standard or Cent accounts.
- Getting through to customer support can be fiddly and slow to reach a human – in our latest checks we had to navigate multiple chatbot menus and questions then enter contact details before getting to an agent.
- The in-house market updates are useful for a quick read, but they’re generally high-level and don’t go deep enough for serious strategy building or advanced analysis.
M4Markets
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.
William Berg, Reviewer
M4Markets quick facts
- Demo Account
- ✔Yes
- Instruments
- Forex, CFDs, Indices, Shares, Commodities, Cryptos
- Regulator
- CySEC, DFSA, FSA
- Platforms
- MT4, MT5
- Minimum Deposit
- $5
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, JPY, ZAR
Pros
- Reliable 24/5 customer support is available in 10 languages via live chat, telephone and email
- M4Markets introduced a rebate scheme with rewards for active traders
- There’s a wide range of global payment methods available, with no deposit or withdrawal fees
Cons
- The range of around 200 investments is slim compared to top brokers, who typically offer over 1000
- The educational resources trail the best brokers with only a small selection of eBooks and webinars offered
IronFX
IronFX remains a good choice for experienced forex traders looking to trade with fixed or floating spreads. The range of 80+ currencies is more than many competitors and there are some excellent forex market research tools on offer.
Tobias Robinson, Reviewer
IronFX quick facts
- Demo Account
- ✔Yes
- Instruments
- Forex, Indices, Shares, Futures, Commodities, Metals (all CFDs)
- Regulator
- FCA, CySEC, FSCA, BVI FSC
- Platforms
- MT4, MT5, AutoChartist, TradingCentral
- Minimum Deposit
- $100
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, AUD, JPY, PLN, CZK
Pros
- Fixed and floating spread accounts are available, making IronFX a good choice for both beginners and experienced traders
- Alongside MT4, the broker continues to offer several additional services, including copy trading, a VPS solution, and PAMM/MAM accounts
- The IronFX Academy delivers some excellent educational tools for beginners through to advanced traders
Cons
- The offshore BVI entity brings with it lower regulator mandated safeguards and oversight
- It’s a shame that the broker doesn’t offer TradingView to give experienced traders more choice
- Compared to the leading brokers, IronFX offers a relatively small selection of share CFDs
How Did We Choose The Best UnionPay Brokers?
To list the top UnionPay brokers, we:
- Determined which firms out of the 143 online platforms in our database offer UnionPay
- Confirmed that they accept UnionPay deposits and withdrawals for online trading
- Ordered them by their total rating, using hard data and our own testing observations
About UnionPay
Founded in 2002, UnionPay International is a subsidiary of China UnionPay, a financial services corporation headquartered in Shanghai. The company offers cross-border bank card schemes, merchant services, as well as convenient online services to cardholders. It is also a popular deposit and withdrawal option at day trading brokers worldwide.
Today, over 240 million cards have been issued overseas, accepted in 183 countries and regions.
The payment provider operates under the People’s Bank of China and is the only Chinese interbank network that connects all bank ATMs in the country. With both credit and debit cards combined, it is also the largest card payment system globally, outperforming Visa and Mastercard.
Pros Of Trading With UnionPay
Easy To Sign Up
You can register for a UnionPay card through one of the approved banks listed on its website in minutes. Once signed up, it is quick and easy to start making deposits and withdrawals at your trading broker.
Several foreign payment service providers offer UnionPay prepaid cards in areas beyond the Asia-Pacific region. For example, the company rolled out virtual prepaid cards in the UK to corporates and consumers. HSBC bank also offers a dual currency card for those who work or travel frequently in China. In the US, owners of ECARDs are allowed to apply for prepaid UnionPay cards online, as well as UPI Gift Cards.
Accepted Everywhere
UnionPay facilitates card acceptance at brokers in 183 countries, such as in Zimbabwe, the UK, Australia, New Zealand, Romania, Nigeria, Nepal, Malaysia, Canada, Portugal, Turkey, the United States (including New York), and the UAE. For cash payments, you can find accepted terminals by searching in the ATM locator on the payment provider’s website.
The organization also has alliances with over 2,600 institutions and banks around the world, including Discover in the USA, JCB in Japan, UOB, OCBC and DBS in Singapore, Hang Seng in Hong Kong, KTC and KBank in Thailand, Khan Bank in Mongolia, HSBC in the UK, BDO in the Philippines, BCA in Indonesia, HBL in Pakistan and many more.
When comparing UnionPay vs PayPak, the former has particularly impressive global coverage.
Convenience
UnionPay supports broker deposits and withdrawals in almost all currencies and also works with all mobile devices and computer browsers, making it more accessible than other contenders such as AliPay or WeChat Pay.
CUP is also offered as a convenient mobile app and supports QR code payments, as well as Google Pay and Apple Pay in some countries, such as Hong Kong.
Foreign Transactions
The firm partnered with MoneyExpress, a cross-border remittance service that operates in 57 countries and regions. MoneyExpress settles the exchange rate in advance and deposits the remittance back to the customer’s UnionPay account in RMB. This makes it a cost-effective way to fund your online trading account from abroad.
Rewards
If you already use Visa or Mastercard to deposit funds into your trading account, it could be worth signing up for a UnionPay card to reap the various promotions and local perks. Rewards have included:
- QuickPass (Asia, Russia, Australia) – Contactless mobile payments with rewards at various retail stores such as Watsons and KFC (including a KFC deal in Pakistan)
- Union Pay Prestige card – Cinema privileges including discounts on movies as well as a buy one get one free movie offer
- KTC Promotion (Thailand) – Discounts when you spend with a KTC Union Pay card at Big C supermarkets
- Union Pay UPlan – Cross-border discounts and downloadable e-coupons at various shopping outlets
- Union Pay HK Your Way (Hong Kong) – Cash coupons when you spend at participating stores
- Japan promotions – UnionPay users receive a variety of discounts and offers at selected retailers
- Union Pay Grab (Thailand) – Discounts when using GrabFood or GrabCar services
Cons Of Trading With UnionPay
The most notable downside is the limited number of brokers and banks at which you can apply for and trade with a UnionPay card.
It is also surprising that CUP is not yet accepted at one of China’s largest ecommerce services, AliExpress.
Additionally, whilst the payment network has extended to many countries in Asia, Europe and beyond, some areas do not yet present the UPI logo on broker’s websites and ATMs. In such cases, cardholders will need to inquire whether UnionPay cards are accepted.
Speed
Transactions are generally instant when you pay online using UnionPay but note that if you are using a prepaid card, it can take several days to transfer money beforehand. It is also worth noting that while most brokers process CUP deposits instantly, withdrawals can take longer. Some traders may may have to wait several days before receiving returns.
Security
As with other major payment processors such as Visa or Skrill, broker transactions via UnionPay are safe and secure. The company employs numerous security protocols including the UnionPay 3D Secure (3DS) online payment authentication solution. CUP QR code payments are also fully encrypted.
How To Deposit Using UnionPay
For the various forex and stock brokers that do accept UnionPay, such as Eightcap, funding is fast and easy. Make sure to check in advance with your broker what the minimum deposit amount is, especially if you’re using a prepaid card.
If you have deposited using UnionPay, withdrawals may need to be issued via the same account. Always make sure that the name and address on your ID documents are the same as your UPI registration details. It is also worth flagging that there may be overseas withdrawal limits with some brokers; you can check this by contacting customer support when you open an account and login.
Fees & Costs
Fortunately, many trading brokers offer fee-free payments via UnionPay, including IC Markets and Pepperstone.
For overseas spending, cross-border transaction fees may apply, as well as ATM commission charges. Note that international debit card commissions are usually lower. Conversion fees may also apply depending on the exchange rate used. This tends to be between 1% and 2% higher than the value of your purchases abroad.
In any case, it is best to check with your vendor or bank beforehand, as these fees vary from country to country.
Is UnionPay Good For Day Trading?
If you are a trader based in Asia, Russia or the US, you may already own a UnionPay card for your day-to-day spending, so it could be convenient to also utilize it for online trading. Using your UPI card to make deposits and withdraw revenue from your trading platform also comes with additional benefits, such as instant processing and secure payments.
However, given that UnionPay is still not widely accessible to consumers beyond the Asia-Pacific region, the payment service will not be offered by as many brokers as Visa, Mastercard or PayPal, for example.
FAQ
How Do I Use UnionPay At My Broker?
You can pay for goods or deposit into your trading account using your debit or credit card number and details. Look out for the UnionPay icon at your chosen vendor or broker.
Is UnionPay Accepted In Europe?
Yes, UnionPay cards are generally accepted in many European countries, including the UK, France, Germany, Spain and Italy. With that said, traders will need to check if their chosen broker accepts UnionPay deposits and withdrawals.
Where Is UnionPay Accepted?
UnionPay is accepted at online brokers in 183 countries including across Europe, Asia, Africa, the United States and the Middle East. Alternatively, see our list of brokers that accept UnionPay deposits.
Is UnionPay Safe To Trade With?
Yes, UnionPay uses various security systems to ensure customer transactions are safeguarded, both online and on mobile applications. This includes 3D Secure protocols as well as encrypted QR codes.