We found 11 online brokers that are appropriate for Trading Digital Wallets.
We are in the midst of a technological era, and with that comes the age of digital wallets. Many are already familiar with this newly introduced, monetary-system. But, for others seeking more information, they may want to understand the product better and learn the pros and cons of using digital wallets. In this article, we will take an in-depth look at digital wallets.
Also known as 'e-wallets', digital wallets are simply software-based systems tasked with securely storing financial information and passwords of users to be used for various payment methods.
With the help of digital wallets, users are able to buy goods and services quickly and easily at the merchant's POS (point of sale) through the use of near-field communications technology.
The digital wallet system creates strong passwords that are not necessary for the user to remember in their future transactions.
Digital wallets are also being implemented in mobile payment systems. This enables users to make a payment for purchases with the help of their smartphones.
More than this, digital wallets can be used for storing digital coupons and loyalty card information as well.
With digital wallets, there is almost no need to carry a physical wallet anymore. The software stores all payment information of a user compactly and securely.
Moreover, digital wallets are a blessing in diguise for several companies that collect consumer data. It is important for companies to know the purchasing habits of their customers, so that they can market their products effectively. This sounds good, but it could also be considered a downside, due to privacy issues.
In developing countries, people are encouraged to make use of digital wallets to the fullest extent possible within the global financial system. With a digital wallet people can accept payments for services rendered, and they can also send funds to family members and friends.
Digital wallets require no bank account, and the provider requires no physical form or branch. Recently, these are being more widely promoted in poor and rural areas.
Bitcoin, Litecoin and other such cryptocurrencies rely heavily on digital wallets.
Some of the most popular digital wallets are: 'Wal-Mart', 'Vodafone-M-Pesa', 'AliPay', 'Venmo', 'PayPal', 'Google Wallet', and more. Currently, the top three are 'Google', 'Amazon', and 'Apple'. They allow users to store cash in their smartphone and spend it on purchases, both on and offline.
We mentioned above that 'near field communications technology' is used in digital wallets. This is simply the technology of making transactions complete by bringing two smart devices within close range of each other.
'Google's' payment system is one of the most commonly used digital wallets to date. And, the company has recently come up with a 'physical' wallet card to help users purchase goods and services at such points of sale where digital wallets are not yet accepted. The card is basically connected to the 'Bank of Google'.
Lately, 'Google' has combined 'Android Pay' and 'Google Wallet' into one service called 'Google Pay'. Similarly, 'Apple' has partnered with 'Goldman Sachs' for the issuing of 'Apple' credit cards. This has expanded the reach of 'ApplePay' services.
In this era of advancing technology, payment methods cannot fall behind. Today, there are dozens of digital wallets, and all of them are being used for making the purchase of goods and services easier, faster, and more secure— online or offline. Digital wallets are a revolutionary concept. They have helped individuals overcome the burdensome habit of carrying paper notes and coins. Digital wallets function through a smartphone and are accepted across a vast number of merchants.
However, it should be noted that companies like 'Google', 'Apple', and 'Amazon' are able to track the purchasing behavior of users in order to make offers accordingly. This may cause some unease among some digital wallet users due to privacy issues; but, others may feel more comfortable with it, as the offers are catered to their own individual tastes and requirements.
Apart from all these, digital wallets are one of the best inventions in the past decades equipped with more pros than cons. These have been widely accepted by consumers across the world, and have gained popularity within just years of launching the very first digital wallet.
We've collected thousands of datapoints and written a guide to help you find the best Digital Wallets 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 digital wallets below. You can go straight to the broker list here.
There are a number of important factors to consider when picking an online Digital Wallets 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 Digital Wallets.
Compare Digital Wallets min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
All brokers below are digital wallets. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more digital wallets that accept digital wallets clients
Broker |
eToro
![]() |
IC Markets
![]() |
XTB
![]() |
FP Markets
![]() |
Trading212
![]() |
Plus500
![]() |
Pepperstone
![]() |
EasyMarkets
![]() |
XM
![]() |
FXPrimus
![]() |
SpreadEx
![]() |
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) | 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) | Financial Conduct Authority (FCA) |
Min Deposit | 200 | 200 | No minimum deposit | 100 | 1 | 100 | 200 | 100 | 5 | 100 | 1 |
Funding |
|
|
|
|
|
|
|
|
|
|
|
Used By | 17,000,000+ | 60,000+ | 250,000+ | 10,000+ | 14,000,000+ | 15,500+ | 10,000+ | 142,500+ | 70,000+ | 10,000+ | 10,000+ |
Benefits |
|
|
|
|
|
|
|
|
|
|
|
Accounts |
|
|
|
|
|
|
|
|
|
|
|
Spreads |
|
|
|
|
|
|
|
|
|
|
|
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 | 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 | Web Trader, Tablet & Mobile apps |
Support |
|
|
|
|
|
|
|
|
|
|
|
Learn More |
Sign
Up with etoro |
Sign
Up with icmarkets |
Sign
Up with xtb |
Sign
Up with fpmarkets |
Sign
Up with trading212 |
Sign
Up with plus500 |
Sign
Up with pepperstone |
Sign
Up with easymarkets |
Sign
Up with xm |
Sign
Up with fxprimus |
Sign
Up with spreadex |
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 | 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 | Losses can exceed deposits |
Demo |
eToro Demo |
IC Markets Demo |
XTB Demo |
FP Markets Demo |
Trading 212 Demo |
Plus500 Demo |
Pepperstone Demo |
easyMarkets Demo |
XM Demo |
FXPrimus Demo |
SpreadEx 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 | 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. | US, TR |
You can compare Digital Wallets 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 Digital Wallets for 2021 article further below. You can see it now by clicking here
We have listed top Digital wallets below.