What is a Forex Merchant Account?
Forex is short for Foreign Exchange. Forex is a global over-the-counter market through which foreign currencies are bought, sold, traded and speculated on. Forex is the largest and most liquid trading market in the world. Forex merchant accounts are established for Forex traders, Forex trading platforms, and also for informational Forex services. Forex credit card processing accounts solutions give you the ability to accept debit and credit cards from traders.
The foreign exchange market is the largest and most liquid financial market in the world, with over $5 trillion traded daily. These OTC, otherwise known as over-the-counter, transactions are performed online between traders around the world, 24 hours a day, and 5 days per week. Since there is no centralized foreign exchange market, all currency trading is done electronically. Forex payment processing companies have faced increased scrutiny, making forex merchant account services a high-risk industry. This has created difficulty for merchants to find stable FOREX MERCHANT ACCOUNT providers.
Brokerages with real-time forex payment processing solutions for the debit and credit card networks including; Visa, MasterCard, American Express, JCB, and China UnionPay. Most payment processors only offer Visa and MasterCard however; China UnionPay is a growing card brand. With 3 out of 10 cards throughout the world branded as CUP, accepting China UnionPay will only help brokerages succeed in Asia.
Most forex businesses are plagued with the problem of too much volume. With flexible volume caps, Forex merchants will be able to process transactions without the issue of exceeding their processing monthly limits. It is common practice for payment processors to limit the monthly volume of a forex business in order to hedge their risk. This is a safe move for banks but it is crippling to the brokerage. Forex brokerages that grow too fast are many times unable to handle all of the transactions being submitted through their website. This problem can eventually damage a firm’s reputation and brand.
Another aspect of Forex trading involves the multiple currencies used throughout the world. As an international business, forex brokerages must be able to accept multiple currencies in order to successfully cater to their clientele. iPaytotal is able to offer a processing platform that allows for easy payment in dozens of different currencies. Customers will expect their brokerages to offer to process transactions in real-time with instant approvals or declines. Avoiding any possible delays in account funding that could prevent access to the trading desk.
Customized Forex Trading Business Payment Processing Solutions
iPayTotal is an innovative Forex payment gateway and Forex Merchant Account provider which provides tools to transform, grow, and scale your online business globally. We are recognized as the best payment solution with the essential back-end operations in place to support Forex Trading business.
iPayTotal offers a complete set of solutions for Forex businesses to accept/make payments in a quick and convenient way. Forex businesses are considered to be high risk, which makes it difficult for business owners to set up a merchant account.
We integrate an extensive global network of banking relationships. At iPayTotal, we are an extension for Forex companies, working closely with them providing a wide variety of high-risk forex payment processing requirements, taking care of every step of the way to simplify, streamline, and strengthen your online business back-end operations. Historically this has increased client revenues up to 30-40% due to the increase in approved Forex trading transactions.
iPayTotal is a processing solution for Forex trading companies which accepts alternative Forex Payment methods, no matter where your company is located, iPayTotal will let you send and receive your money internationally, giving you precise transactional data in real time. As previously mentioned, Forex businesses are considered to be very high risk for reasons such as the exchange rate risk, the interest rate risk, the credit risk, the Country and Liquidity Risk, the Leverage Risk. All this means it can be difficult for business owners to set up a merchant account. Forex trading risk management is the most important factor to consider if you want to become a profitable trader, at iPayTotal, we offer to our clients the solution to fix this problem because we can set up a merchant account for Forex brokers minimizing these risks.
We give a wide set of innovative services at very competitive prices and requirements, that’s why we are the industries premier payment processing solution for forex trading.
iPayTotal is the leading international merchant account services provider. Our powerful tools and resources to the traders. With excellent client services available, we can help your company to increase profits from day one. iPayTotal is the most Flexible, full-featured Forex trading payment solution. Our credit card processes offer full services that will help you to hit the ground running immediately.
As a payment solution for Forex trading traders, we help our clients to set up their Forex merchant accounts. This allows the option for ones company to make transactions through Forex credit cards.
Every Forex trader and/or Forex trading company needs a reliable payment solution and at iPayTotal, we integrate bespoke payment solutions for your company.
Our low cost Forex merchant accounts ensure that all transactions are encrypted and secure using state-of-the-art payment processing technology.
At iPayTotal, our integrated features are designed with the flexibility to support a wide variety of transactions types from all over the world.
Our full-featured Forex payment gateway will keep your Forex transactions safe with an industry-leading chargeback security measures and Fraud Scrub Protection. We accept payments through Forex credit card processing in more than 196 countries, 164 currencies, and settle in 25 currencies worldwide. We guarantee all transactions are processed in a secure way. We work with all the main brands of credit cards, including alternative payments options, which will let you open your business to more customers.
- Comprehensive Solution for Forex Trading business
- Accept over 100 currencies in 196 countries
- Rates starting at just 2.5%
- Settle your profit directly into your bank account
- Secure data transfers with PCI Level 1 compliance
- Reduce declined payments with Fraud Scrub technology
- Track your transactions with a robust reporting system
- 98% application approval rateIntegrate our solution in as little as 12 hours
Looking for Forex payment processing?
Acquiring banks always classify Forex merchant accounts as high risk. Forex is a global trading platform and no country has jurisdiction over another country’s currency. Although most reliable Forex trading platforms are licensed, some are not. The lack of regulation is the biggest concern to banks which then classify Forex payment processing as high-risk merchants. It is possible to find credit card processing providers willing to set up this type of account at very high prices. The issue arises when there are additional problems associated with the merchant, such as the low credit score, problems with the previous card processing company, etc. We at iPayTotal know the ins and outs of the Forex industry to be able to find the right solution for every Forex business.
With iPayTotal you not only get a merchant account but a full-fledged payment gateway which can be either integrated to your website or to any cashier system or software that you are using. We are integrated with Bridgerpay, Naspay, Airsoft and many more cashier systems for forex merchants. Our featured gateways provide powerful built-in fraud prevention filters and monitoring tools based on client behavior, ensuring any suspicious activity is blocked fast.
Benefits of Forex Payment Processing:
Our goal at iPayTotal is to deliver you the lowest rates, fastest approvals, and best terms available for Forex merchant accounts. High volume processing capacity gives you the ability to accept payments effortlessly and efficiently. Financial confidence when using the Forex Trading Merchant Account through online means is vital. We keep your account safe and offer top performance in the trading by our extensive capital and risk management procedures. We know that the forex merchants do face lots of difficulties in these days, but with the help of iPaytotal, we become your partner and work for you so that you can concentrate on the process of profit-making. We offer the enhanced liquidity for customers, responsive payment options and forms, one-click check out experiences, and tailor-made payment options.
- Extensive Bank Network. Diversify processing among different acquiring banks
- High Volume Processing. Freedom to get the processing capacity you need to manage & grow your business.
- Multicurrency Processing. Forex is an international trading platform. Forex merchant accounts allows you accept payments and receive settlements in all major world currencies.
- Multiple Payments Methods. Accept all major card brands. Add alternative payment methods preferred in various countries.
- Extensive Fraud Management Tools. Customizable fraud protection defences to keep processing safe.
- Multi-Channel Payments. Accept payments online. Unlimited virtual terminals for MOTO transactions. Accept mobile payments. Or upload bulk processing files for rapid processing.
- Forex Credit Card Processing Gateway. Integrated with major shopping carts, accounting systems and CRM. Speedy exchange of processing data enhances productivity.
Why rates are different depending on the case?
We always try to get the best rates for our forex merchants with our partner banks however final rates mainly depends on the following factors:
- Monthly processing volume: The bigger the volume the lower price. Also if merchant grows volume while being processed with RegularPay, we review rates and adjust accordingly .
- Previous transaction history: Clear and transparent transaction history may greatly influence the rate because it is used as a risk mitigation factor.
- License / Regulation: In the case you don’t have a license for working on Forex market, please contact our specialist and get a free consultation.
Why is it considered high-risk?
Forex market has a high trading volume, in consequence, Forex assets are classified as highly liquid assets and due to they are leveraged products there is plentifulness of risk bound with Forex trading that can result in hefty losses. Considering this, traders need to account these various risks for when actively trading the Forex exchange market, among which are: Margin Risk, Political Risk, Interest Rate Risk, Exchange Rate Risk, Volatility Risk, Credit Risk, Operational Risk, Broker Risk, Devaluation Risk, and Fraud Risk. The Forex trading market allow trading companies and individual traders to leverage a considerable amount of money which can generate substantial profits or incur large losses.
So, to be successful in Forex trading it’s mandatory to understand these risks, and how they can be monitored and contained. In iPayTotal we review the currency trading risks associated with the Forex market and we help you out to navigate and mitigate these risks as much as possible due to the banks and other financial institutions would not open a merchant account for your Forex business because of them being labeled “very high risk” in consequence to the nature of the Forex market, as was already explained, this, is a limitation for investors who are looking for Forex payment methods. Before trading, it is recommendable that investors know precisely the amount they are willing to risk. Consequently, understanding risks, permits the traders develop more effective trading plans taking wise decisions like use the right tool, use a protective stop loss, use leverage and margin prudently, use appropriate position sizing, Treat trading like a business, all these together, it’s the package that we use to handle high risk merchant account for forex trading companies.
Our Supreme Acquiring Solutions
iPayTotal combines the core capabilities of an acquirer with those of a payment service provider and adds the regulatory possibilities of a renowned bank into our service portfolio at leading edge prices.