We found 11 online brokers that are appropriate for Trading Bank Transfer.
Deposit payments are accepted across various channels in Forex trading and bank or wire transfers is one of the oldest methods and a much reliable one.
Bank transfer brokers are easily available both online and offline. They readily welcome and encourage the payment channels.
Making payments through bank transfer brokers is easy and needs no presentation as for decades traders have been accustomed to it, even though several innovative payment solutions have been introduced in recent years.
To make wire transfer hassle-free and compete with more advanced methods, can all be arranged via online or telephone.
There is no need to visit a branch for this purpose. Bank transfer brokers usually assist clients on how to arrange the payment without such a visit.
Initially, a Forex account requires uploading a small capital known as an opening balance and this is what is required to start trading.
If the fund is to be deposited via wire transfer, a form will need to be completed with fields such as the name of the bank, country, bank account number, IBAN code and BIC code.
The last part is to specify the amount to be uploaded and thereafter authorizing the transaction. It takes some time to reflect the relevant funds in to the Forex account.
Some traders may have difficulties with the wire transfer process online initially. Firstly, navigate the portal and find the payments related section.
Specify here the amount to be deposited and thereafter choose your bank name from the option of choices.
Online banking credentials will be asked like username and password. This will lead to logging into the online banking account.
Lastly, complete the form and then confirm the transaction. The entire process normally takes a few minutes.
Retrieving profit from the Forex account to the bank is as easy as depositing funds from the bank account to the Forex account. The process is similar, convenient, and hassle-free.
. Firstly, log into the trading account and find the withdrawal section. Next, choose the bank where the fund needs to be transferred. Picking the correct currency is important here.
In most of the cases, the bank transfer brokers process the withdrawal request within 24 hours. Once the fund is issued, it may take 3 to 5 business days to reflect in the bank account.
It is important to submit the related information correctly in the form. Any mistake may increase the waiting period for retrieving the profit. Furthermore, sometimes inconsistency in banking details may lead to additional fees.
Note that funds cannot be retrieved if the name in the Forex trading account is not the same as mentioned in the bank account.
Many traders prefer dealing with bank transfer brokers as wire transfer as a more secure and reliable mode of making payments.
The chance of becoming a victim of fraud or unscrupulous practice is less compared to other modes of payments in the Forex industry. Wire transfer is the best method for traders who transfer funds in volume.
Wire transfer is a simple payment method. Both deposits and withdrawals are not complicated.
The first and top disadvantages is its fee structure. It can be high compared to most of the payment solutions. Some traders feel a good portion of the profit is eaten up as several bank transfer brokers impose commission if a withdrawal is made to a bank account.
The second and most important disadvantage to note is the delay in withdrawal. The cash out process comparatively takes a longer time. The fund could take more than five business days to reflect in the bank account.
Most traders look to other payment solutions because of the cost of the transactions. The fees and charges differ from one bank to another. Hence, it is advised to check the fee structure from the bank before initiating any transaction.
In some cases, the traders need to pay an extra commission to brokers to retrieve profit to the bank account. It is better to get acquainted with all these in advance, before departing with a percentage of profit.
Some bank transfer brokers set limits for retrieving profit from the Forex account to bank account. It can be $100 in most cases.
Bank transfer brokers have been in the Forex industry for decades and the banking payment method is one of the oldest secure and protected solutions.
Lately, certain new features have been introduced to make the process more convenient and traders now do not need to visit the bank for this purpose.
The deposits and withdrawals are easier and it would be a good idea to complete the form carefully on the portal of the bank transfer brokers. Any mistakes could make this process lengthy.
We've collected thousands of datapoints and written a guide to help you find the best Bank Transfer Brokers for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best Bank Transfer brokers below. You can go straight to the broker list here.
There are a number of important factors to consider when picking an online Bank Transfer trading brokerage.
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
We compare these features to make it easier for you to make a more informed choice.
Here are the top Bank Transfer Brokers.
Compare Bank Transfer Brokers min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
All brokers below are Bank Transfer brokers. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more Bank Transfer brokers that accept Bank Transfer clients
Broker |
eToro
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IC Markets
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XTB
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FP Markets
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Roboforex
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Trading212
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Plus500
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Pepperstone
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EasyMarkets
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XM
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FXPrimus
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Rating | |||||||||||
Regulation | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG) | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) | Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) | Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546 | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID) |
Min Deposit | 200 | 200 | No minimum deposit | 100 | 1 | 1 | 100 | 200 | 100 | 5 | 100 |
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Used By | 17,000,000+ | 60,000+ | 250,000+ | 10,000+ | 10,000+ | 14,000,000+ | 15,500+ | 10,000+ | 142,500+ | 70,000+ | 10,000+ |
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Platforms | Web Trader, Tablet & Mobile apps | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | MT4, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps |
Support |
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Learn More |
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Up with fxprimus |
Risk Warning | 71% of retail investor accounts lose money when trading CFDs with this provider. | Losses can exceed deposits | 82% 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. | Losses can exceed deposits | Losses can exceed deposits | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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. | 76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% 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 | Your capital is at risk | Your capital is at risk | Losses can exceed deposits |
Demo |
eToro Demo |
IC Markets Demo |
XTB Demo |
FP Markets Demo |
Roboforex Demo |
Trading 212 Demo |
Plus500 Demo |
Pepperstone Demo |
easyMarkets Demo |
XM Demo |
FXPrimus Demo |
Excluded Countries | IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, KZ, GD, FJ, BB, BM, BS, AG, AI, AW, LB, SV, US, PY, HN, GT, PR, NI, VG, AN, | AF, GN, SL, BW, IR, SY, MM, IQ, TG, KH, LS, YE, CI , LR, ZW, CU, LY, TZ, CG, ML, BO, LR, NE, AO, GM, NG, AG, GH, KR, KG, GN, SN, NA | US, IN, PK, BD, NG , ID, BE | US, JP, NZ | US, JP | US | MY, BE, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO, AE | BR, KR, IR, IQ, SY, JP, US | US | US, CA, IL, KR, IR, MM, CU, SD, SY | AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR, US, AU, SY, DZ, JP, EC. |
You can compare Bank Transfer Brokers ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
We also have an indepth Top Bank Transfer Brokers for 2021 article further below. You can see it now by clicking here
We have listed top Bank Transfer brokers below.