Visa Brokers 2024
Visa debit, credit and prepaid cards are accepted by many of the top trading brokers. Recognisable by its blue and yellow logo, Visa is one of the largest financial networks and payment systems globally. Its cards are accepted by businesses and merchants in over 200 countries with close to 720 million transactions processed each day. Its universal support and compatibility with a range of currencies make it particularly popular with active traders.
This review explains how Visa works, from its debit and credit cards to contactless payments and supporting merchants. We have also compiled a list of the best trading brokers that accept Visa deposits and withdrawals in 2024.
Best Visa Brokers
These are the top 10 brokers that support Visa payments, based on our tests:
-
1
FOREX.comActive Trader Program With A 15% Reduction In Costs
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$1000.01 Lots1:50NFA, CFTCForex, Stocks, Futures, Futures OptionsMT4, MT5, TradingView, eSignal, AutoChartist, TradingCentralWire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH TransferUSD, EUR, GBP, CAD, AUD, JPY, CHF, PLN -
2
OANDA USCFDs are not available to residents in the United States.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:50NFA, CFTCForex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)OANDA Trade, MT4, TradingView, AutoChartistWire Transfer, Visa, Mastercard, Debit Card, ACH TransferUSD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD -
3
IGForex trading involves risk. Losses can exceed deposits.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:30 (Retail), 1:250 (Pro)FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOBCFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread BettingWeb, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentralPayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit CardUSD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD -
4
Pocket Option50% Deposit Bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$50$1MISABinary Options, Currencies, Commodities, Stocks, Indices, CryptosWeb, MT4, MT5Wire Transfer, Credit Card, Bitcoin Payments, Volet, Perfect Money, Visa, Mastercard, Debit Card, WebMoney, FasaPay, Ethereum Payments, Maestro, JetonCashUSD -
5
IQCent20% to 200% Deposit Bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$250$0.011:500IFMRRCBinary Options, CFDs, Forex, Indices, Commodities, CryptoOnline Platform, TradingViewCredit Card, Debit Card, Wire Transfer, Bitcoin Payments, Ethereum Payments, Visa, MastercardUSD, EUR -
6
RedMars
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
€2500.01 Lots1:30 (Retail), 1:500 (Pro)CySECCFDs, Forex, Stocks, Indices, Commodities, CryptosMT5Credit Card, Wire Transfer, Debit Card, Sticpay, FasaPay, Bitcoin Payments, Trustly, PayPal, Skrill, Neteller, Klarna, Mastercard, VisaUSD, EUR -
7
Plus500 USWelcome Deposit Bonus up to $200Trading with leverage involves risk.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$1000.0 LotsCFTC, NFAFutures on Forex, Commodities, Cryptos, Indices, Interest RatesWebTrader, AppACH Transfer, Wire Transfer, Debit Card, Mastercard, VisaUSD -
8
CEX.IO
$20$1GFSCCryptosTradingViewDebit Card, Credit Card, Wire Transfer, Swift, Skrill, Visa, Mastercard, PayPal, Neteller, Apple Pay, Google Wallet, Bitcoin PaymentsUSD, EUR, GBP -
9
UpholdTerms Apply. Cryptoassets are highly volatile. Your capital is at risk.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$0$1CryptosDesktop Platform, Mobile AppWire Transfer, ACH Transfer, Bitcoin Payments, Debit Card, Credit Card, Mastercard, Visa, Ethereum PaymentsUSD, EUR, GBP -
10
Videforex20% to 200% Deposit Bonus
$250$0.011:500Binary Options, CFDs, Forex, Indices, Commodities, CryptoTradingViewSkrill, Perfect Money, Bitcoin Payments, Neteller, Credit Card, Visa, Mastercard, Ethereum PaymentsUSD, EUR, GBP, AUD, RUB
Here is a short summary of why we think each broker belongs in this top list:
- FOREX.com - Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
- OANDA US - OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is regulated by trusted agencies, including the NFA/CFTC. Around the clock support is available for short-term traders, alongside flexible contract sizes and automated trade executions.
- IG - Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
- Pocket Option - Established in 2017, Pocket Option is a binary options broker offering high/low contracts on forex, stocks, indices, commodities and cryptocurrencies. With over 100,000 active users and a global reach, the platform continues to prove popular with budding traders.
- IQCent - IQCent is an offshore binary options and CFD broker based in the Marshall Islands. The brand continues to offer a range of unique account types with bonuses and perks, including payout boosts, TradeBacks and free rollovers. With 100+ assets, around-the-clock trading and 98% payouts, the firm is popular with aspiring short-term traders.
- RedMars - Launched in 2020, Cyprus-based RedMars offers competitive spreads on more than 300 instruments and leverage up to 1:500. Three accounts are available - Standard, Pro and VIP - serving a range of budgets and experience levels, with a fast and fully digital account opening process.
- Plus500 US - Plus500 is a well-established broker that entered the US market in 2021. Authorized by the CFTC and NFA, it provides futures trading on forex, indices, commodities, cryptocurrencies, and interest rates. With a 10-minute sign-up, a manageable $100 minimum deposit, and a straightforward web platform, Plus500 continues to strengthen its offering for traders in the US.
- CEX.IO - CEX.IO is one-stop-shop for crypto investors where you can buy and sell popular digital tokens, speculate on prices with margin trading and earn rewards through staking. Since it launched in 2013, more than five million traders have deposited over $7.5 billion. CEX.IO is registered with the FinCEN in the US and the GFSC in the EU.
- Uphold - Uphold is a digital asset platform offering a range of services, from crypto trading and staking to payment cards that provides rewards and easy multi-currency payments. The company was established in 2015 and has enabled $4+ billion in transactions. Uphold is now active in 180+ countries and deals in 200+ crypto and fiat currencies.
- Videforex - Launched in 2017, Videforex offers access to stock, index, crypto, forex and commodities markets via binary options and CFDs. The proprietary platform, mobile app and integrated copy trading are user-friendly and will suit new and casual traders, and the market analysis tools and trading contests provide good ways to improve your trading skills.
Visa Brokers Comparison
| Broker | Minimum Deposit | Instruments | Platforms | Leverage |
|---|---|---|---|---|
|
|
$100 | Forex, Stocks, Futures, Futures Options | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral | 1:50 |
|
|
$0 | Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA) | OANDA Trade, MT4, TradingView, AutoChartist | 1:50 |
|
|
$0 | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting | Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral | 1:30 (Retail), 1:250 (Pro) |
|
|
$50 | Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos | Web, MT4, MT5 | - |
|
|
$250 | Binary Options, CFDs, Forex, Indices, Commodities, Crypto | Online Platform, TradingView | 1:500 |
|
|
€250 | CFDs, Forex, Stocks, Indices, Commodities, Cryptos | MT5 | 1:30 (Retail), 1:500 (Pro) |
|
|
$100 | Futures on Forex, Commodities, Cryptos, Indices, Interest Rates | WebTrader, App | - |
|
|
$20 | Cryptos | TradingView | - |
|
|
$0 | Cryptos | Desktop Platform, Mobile App | - |
|
|
$250 | Binary Options, CFDs, Forex, Indices, Commodities, Crypto | TradingView | 1:500 |
FOREX.com
"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."
Christian Harris, Reviewer
FOREX.com Quick Facts
| Bonus Offer | Active Trader Program With A 15% Reduction In Costs |
|---|---|
| Demo Account | Yes |
| Instruments | Forex, Stocks, Futures, Futures Options |
| Regulator | NFA, CFTC |
| Platforms | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral |
| Minimum Deposit | $100 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:50 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN |
Pros
- With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.
- FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
- There’s a wealth of educational resources including tutorials, webinars, and a stacked YouTube channel to help you get educated in the financial markets.
Cons
- There’s no negative balance protection for US clients, so you may find yourself owing more money than your initial deposit into your account.
- FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.
- Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.
OANDA US
"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."
OANDA US Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA) |
| Regulator | NFA, CFTC |
| Platforms | OANDA Trade, MT4, TradingView, AutoChartist |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:50 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD |
Pros
- There's a strong selection of 68 currency pairs for dedicated short-term forex traders
- The proprietary OANDA web platform continues to deliver a highly competitive charting environment, including 65+ technical indicators powered by TradingView
- Day traders can enjoy fast and reliable order execution
Cons
- It's a shame that customer support is not available on weekends
- There's only a small range of payment methods available, with no e-wallets supported
- The range of day trading markets is limited to forex and cryptos only
IG
"IG continues to provide a comprehensive package with an intuitive web platform and best-in-class education for beginners, plus advanced charting tools, real-time data, and fast execution speeds for experienced day traders."
IG Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting |
| Regulator | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB |
| Platforms | Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (Retail), 1:250 (Pro) |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD |
Pros
- The proprietary web-based platform continues to caters to traders of all levels, with advanced charting tools and real-time market data useful for day trading
- As a well-established broker, IG operates under strict regulatory guidelines in multiple jurisdictions, maintaining a high level of trust
- IG offers an extensive collection of professional and engaging educational resources, including webinars, articles, and analysis
Cons
- IG applies an inactivity fee of $12 per month after 2 years, deterring casual investors
- Stock and CFD spreads still trail the cheapest brokers like CMC Markets based on tests
- Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges
Pocket Option
"Pocket Option excels for its easy-to-use web platform which provides a best-in-class user experience for short-term binary traders. The $50 minimum deposit is also accessible for beginners while opening an account is really easy. Looking at the negatives, Pocket Option still trails alternatives in its market offering and regulatory credentials."
Pocket Option Quick Facts
| Bonus Offer | 50% Deposit Bonus |
|---|---|
| Demo Account | Yes |
| Instruments | Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos |
| Regulator | MISA |
| Platforms | Web, MT4, MT5 |
| Minimum Deposit | $50 |
| Minimum Trade | $1 |
| Account Currencies | USD |
Pros
- The range of payment methods beats the majority of rivals, providing fast, secure and convenient deposits for traders in most countries
- Extremely fast and smooth sign-up process that takes less than 2 minutes
- The MetaTrader platforms offer integrated analysis with helpful technical summaries for short-term traders
Cons
- The maximum binary contract length of 4 hours is restrictive for longer-term trading strategies. Alternatives like Videforex offer binaries up to 1 month
- You need to deposit $1000 to access the extended list of 250+ assets, otherwise just 130+ assets are available
- Despite offering competitive payouts up to 92%, binary brokers like IQCent offer higher returns up to 98% based on tests
IQCent
"IQCent will appeal to day traders looking for a straightforward binary options and CFD trading platform with low fees, a range of accounts, and copy trading. Getting started takes less than 1 minute and a $250 deposit. "
IQCent Quick Facts
| Bonus Offer | 20% to 200% Deposit Bonus |
|---|---|
| Demo Account | Yes |
| Instruments | Binary Options, CFDs, Forex, Indices, Commodities, Crypto |
| Regulator | IFMRRC |
| Platforms | Online Platform, TradingView |
| Minimum Deposit | $250 |
| Minimum Trade | $0.01 |
| Leverage | 1:500 |
| Account Currencies | USD, EUR |
Pros
- The proprietary terminal offers TradingView-powered charts which deliver dozens of technical indicators and studies
- Keen traders can take part in trading contests with cash prizes
- The broker's 24/7 customer support is fast and reliable, responding within 1 minute during tests
Cons
- IQCent charges a punitive $10 monthly inactivity fee if you fail to place at least 1 trade per month
- There's no automated trading support for algo traders
- The market analysis is very basic with limited technical summaries and insights from analysts
RedMars
"RedMars is the best fit for experienced day traders familiar with the MetaTrader 5 platform and based in the EU, where the broker is authorized by the CySEC. However, the threadbare education and research tools make it unsuitable for beginners."
RedMars Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, Cryptos |
| Regulator | CySEC |
| Platforms | MT5 |
| Minimum Deposit | €250 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (Retail), 1:500 (Pro) |
| Account Currencies | USD, EUR |
Pros
- The broker supports a range of flexible payment methods, including wire transfers, credit cards, e-wallets, and notably cryptocurrencies
- Getting started on RedMars is incredibly easy - you can be up and running in just a few minutes based on tests
- The broker is one of a limited number of firms to offer an account specially designed for VIPs with premium support and invites to exclusive events
Cons
- While RedMars' spreads are within industry averages, they don't offer a significant edge over the cheapest day trading brokers we've personally used, notably IC Markets
- With just 300 instruments, RedMars offers a narrow trading environment, particularly compared to category leaders like BlackBull Markets which offers 26,000 assets
- The no-frills trading environment offers little beyond the basics, with no Islamic account, PAMM account or copy trading.
Plus500 US
"Plus500 US stands out as an excellent choice for beginners, offering a very user-friendly platform, low day trading margins, and access to the Futures Academy to enhance trading skills."
Michael MacKenzie, Reviewer
Plus500 US Quick Facts
| Bonus Offer | Welcome Deposit Bonus up to $200 |
|---|---|
| Demo Account | Yes |
| Instruments | Futures on Forex, Commodities, Cryptos, Indices, Interest Rates |
| Regulator | CFTC, NFA |
| Platforms | WebTrader, App |
| Minimum Deposit | $100 |
| Minimum Trade | 0.0 Lots |
| Account Currencies | USD |
Pros
- Plus500 is a publicly traded company with a good reputation, over 24 million traders, and a sponsor of the Chicago Bulls, instilling a sense of trust
- The Futures Academy is an excellent resource for new traders with engaging videos and easy-to-follow articles, while the unlimited demo account is great for testing strategies
- The trading app provides a terrific user experience with a modern design, a clean layout and mobile-optimized charts
Cons
- Although support response times were fast during tests, there is no telephone assistance
- Despite competitive pricing, Plus500 US lacks a discount program for high-volume day traders, a scheme found at brokers like Interactive Brokers
- The proprietary platform is user-friendly but lacks advanced technical analysis tools found in third-party solutions like MetaTrader 4
CEX.IO
"CEX.IO continues to serve a range of crypto investors looking to buy, sell, trade, hold and earn with low fees. The tiered pricing structure will appeal to active traders while rookie investors will enjoy the straightforward platform interface and excellent education."
Tobias Robinson, Reviewer
CEX.IO Quick Facts
| Demo Account | No |
|---|---|
| Instruments | Cryptos |
| Regulator | GFSC |
| Platforms | TradingView |
| Minimum Deposit | $20 |
| Minimum Trade | $1 |
| Account Currencies | USD, EUR, GBP |
Pros
- Crypto leverage is available up to 1:3
- There's a wide range of global payment methods available including PayPal
- The broker offers 24/7 support with fast response times during tests
Cons
- Deposit and withdrawal fees are relatively high, including 0.3% + $25 for SWIFT withdrawals
- The Exchange Plus platform delivers a cluttered interface compared to competitor platforms
- It's a shame that there's no demo account for traders looking to practice strategies
Uphold
"Uphold remains a top choice for crypto investors looking for a one-stop-shop solution to accessing the markets. There are over 250 tokens to buy, sell and trade through flexible platform options."
Uphold Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Cryptos |
| Platforms | Desktop Platform, Mobile App |
| Minimum Deposit | $0 |
| Minimum Trade | $1 |
| Account Currencies | USD, EUR, GBP |
Pros
- Two-step authentication bolsters user security
- UK users can get the Uphold card with up to 2% cashback in XRP
- Over 250 cryptos are available including major tokens like Bitcoin and Ethereum
Cons
- Uphold operates with limited regulatory oversight
- The charting analysis features on the platform trail specialist exchanges
- Customer service is slow based on tests, with limited contact options
Videforex
"Newer traders will find a lot to enjoy about trading binary options on Videforex's easy-to-use proprietary platform, as well as the broker's copy trading solution. Payouts also remain higher than most alternatives climbing to 98%."
Videforex Quick Facts
| Bonus Offer | 20% to 200% Deposit Bonus |
|---|---|
| Demo Account | Yes |
| Instruments | Binary Options, CFDs, Forex, Indices, Commodities, Crypto |
| Platforms | TradingView |
| Minimum Deposit | $250 |
| Minimum Trade | $0.01 |
| Leverage | 1:500 |
| Account Currencies | USD, EUR, GBP, AUD, RUB |
Pros
- The firm facilitates both day trading and binary options which is great for those looking to diversify their portfolios
- Traders can earn up to 98% payouts on 100+ assets with the broker’s binary options, which is in line with competing brands like IQCent
- Videforex regularly runs trading contests, offering great practice opportunities and cash prizes to beginners and experienced traders
Cons
- No MetaTrader 4 integration
- US clients aren’t accepted due to legal restrictions
- The broker isn’t overseen by a trusted regulatory agency
How Did We Choose The Best Visa Brokers?
To uncover the top Visa brokers, we:
- Referred to our library of 500 online platforms, pinpointing all those that support Visa payments
- Ensured that they accept Visa deposits and withdrawals for online trading
- Listed them by their ranking, leveraging our in-depth testing observations and objective data
Visa Overview
Visa first launched in 1958 and is now ubiquitous in financial services and payment processing. The company has become one of the largest payment providers in the world with an average quarterly payment volume of over $3 trillion. Its current net worth is estimated at over $550 billion while its share price sits at over $270.
The payments company offers a string of products and services, including traditional debit and credit cards, plus contactless transfers, which are available via desktop computers, tablets and mobile devices. The brand’s flexibility makes it a great choice for traders who want to deposit or withdraw funds from their forex platform of choice, while also making everyday retail purchases.
Visa’s headquarters are located in San Francisco, California, however the company has offices all over the world, from Europe and the UK to Australia and Asia. The list of online brokers that accept Visa deposits is also extensive and spans all major trading jurisdictions.
Advantages
Trading with Visa offers multiple advantages over other deposit options:
Accepted Everywhere
Almost every online vendor in the world accepts Visa as a form of payment, including trading brokers. Simply look for the famous logo in your broker’s cashier portal to fund your trading account. Visa is also a great Mastercard alternative.
Easy To Sign Up
Most major banks offer Visa debit and credit cards as standard. New customers will need to meet the respective bank’s registration requirements, which typically involve providing proof of identity and address.
If you don’t want to register with a traditional bank, you can order a pre-paid Visa debit card. This allows you to fund the card through several popular payment solutions, including PayPal. Once loaded with funds, clients can then top up their online trading account.
Free To Send & Receive Money
The majority of personal accounts offer free money transfers, though this will depend on the terms and conditions of your bank or financial institution.
It also depends on where you are sending money. Depositing to trading accounts in another country, for example, may incur a fee and brokers sometimes pass on overhead costs in the form of a fixed fee or a percentage of the payment amount. With that said, the best trading platforms offer fee-free deposits and withdrawals with Visa.
Note, some pre-paid Visa card services charge a small fee for bank transfers.
World-Class Security
The firm offers comprehensive fraud protection to all its cardholders via the ‘Verified by Visa’ security scheme. This provides users with an extra layer of security, to help fight against identity theft and fraud. The top trading brokers also follow industry-standard payment protocols and use the latest security measures.
Reliability
At many online brokers, payment via Visa is the easiest way to fund an account. Data is encrypted, your transaction is protected, and your funds should appear in seconds. Clients also benefit from the reliability of one of the world’s most trusted brands.
Currency Support
The company supports all major currencies alongside less well-known currencies. This means traders from all over the world can deposit and withdraw funds at competitive rates.
You can also buy cryptos through one of the 65+ digital brokers and wallets that accept Visa, such as Crypto.com and Coinbase. These brands actually have their own Visa-powered payment cards, providing traders with additional perks.
Drawbacks
Like all payment providers, Visa has some drawbacks. Most notably, fees and benefits tend to vary depending on the card issuer. For example, a traditional account with a major high-street bank might ensure that all transactions made via your card are free. However, a pre-paid service might offer you a Visa card where you incur hefty transaction charges every time you make a bank transfer or withdraw funds from an ATM.
With this in mind, read the terms and conditions of a Visa-supported vendor prior to opening an account. This will help ensure you get the best possible deal.
Speed Of Visa Payments
Funds transferred into a trading account via a supporting debit or credit card are normally instant. Some bank transfers can take up to five working days, although most are processed within 48 hours. The firm also offers the option of transferring money within 30 minutes of approval through its Fast Funds service.
Importantly, when funding a trading account, cards should only be used by the named cardholder. It’s also worth pointing out that online brokerages may have their own processing timelines. Deposits are usually processed immediately but withdrawals can take several working days if KYC protocols are followed.
Security
Visa offers peace of mind when making online purchases, successful checkouts and minimal friction when moving money from one account (such as an investing platform) to another (like a personal bank account).
All payments are protected by the ‘Verified by Visa’ scheme, which is designed to make online purchases safe, secure, fast and convenient. This technology works behind the scenes when you’re funding your trading account and uses advanced mechanics to confirm your identity.
Transactions are also authenticated by a technical standard known as 3D secure, which is designed to safeguard CNP (Cardholder Not Present) transactions online.
In addition, the Zero Liability scheme protects users from fraud. So, if an unauthorized UK gift card purchase is made with the account holder’s card, they won’t be liable for any charges.
If there are doubts about your identity (if you make an unusually large trading deposit or perform a transaction from a new or unusual device), you may be prompted to provide personal information to confirm the transaction.
Note, most cards expire after three years. Your issuer should provide you with a replacement prior to expiry. When your old card expires you should destroy it and dispose of it.
How To Deposit Using Visa
All cardholders can deposit and withdraw money from their accounts with ease. The speed at which transactions can be made will vary depending on the broker. For example, XM offers free Visa deposits which are processed instantly, whilst withdrawals take 2 to 5 business days.
The process to deposit varies slightly between brokers but typically involves signing in to the client area, selecting the credit/debit card option from the available payment methods in the funding section, and then following the on-screen instructions.
Note that deposit and withdrawal limits can vary. Some brokers place a limit on deposits and withdrawals until you go through a full identification process – providing one or more forms of government ID. This is standard practice throughout the financial services industry and helps to prevent illegal money laundering and fraud.
Fees & Costs
It is possible to set up a bank account with a Visa card for free. Also, if you have a good credit rating, you can get a credit card with 0% interest on purchases for a set period. Check a credit comparison site for the best deals.
With that said, credit card holders often have to pay interest on borrowed funds. Debit card holders may also have to pay an account maintenance charge to the issuing bank. Some banks also charge for the production and issuing of cards. And while cards can be used without encountering an inactivity fee from Visa, your card provider may charge one. Costs vary significantly between merchants, so it’s worth shopping around for the best deals.
Importantly, most Visa brokers offer free trading deposits and withdrawals using the payment method. If there is a charge, it is usually a small percentage of the payment amount and is often waived if making a high-value deposit.
Money Transfer
The company offers a money transfer service that allows traders to send money to anyone around the world (including themselves). It converts any supported currencies in the process using the Reuters exchange rate.
This service is available to most cardholders at no additional cost. Some card vendors may impose nominal costs or charge a small percentage of the transaction to cover any fees they incur.
Is Visa Good For Day Trading?
Visa is one of the most popular deposit and withdrawal options among traders. It is accepted by a long list of trading brokers and provides low fees and prompt payment processing. In addition, strong security and fraud protection protocols make it suitable for both small and large value payments.
Use our list of Visa brokers to make a deposit and start trading today.
FAQ
Are Visa Trading Deposits An Option In My Country?
Visa is accepted by most trading brokers around the world. With that said, legal restrictions on investing may apply. Use our list of brokers that accept Visa deposits to find the right brokerage for your needs.
Are Visa Deposits As Secure As PayPal?
Visa is one of the most secure payment systems in the world and is arguably safer than PayPal when it comes to fraud protection. Note, it’s generally easier to cancel transactions and receive cashback with a credit card than with a debit card.
Why Don’t All Brokers Allow Visa Deposits?
Most brokers allow Visa deposits, as it is one of the most convenient forms of online payment. Brokerages who do not accept it are an anomaly. If a brand doesn’t support the payment method, Visa may have made a decision not to partner with the firm. This could raise questions about the trustworthiness and reliability of the platform.
Why Should I Use Visa To Deposit With A Broker?
Visa is quick, convenient and has relatively low transaction fees compared to some digital payment gateways. The key downside is that you will have to share your debit or credit card information directly with your broker. If you are uncomfortable doing this, or if you are on a platform that you have not used before, you may want to consider funding your account with a service like PayPal. This will mean you won’t have to share sensitive personal financial information.