Forex Merchant Account

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. Forex is the largest and most liquid trading market in the world. Forex merchant accounts are established for Forex traders, Forex trading platforms as well as 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 ‘Over The Counter’ (OTC) transactions are performed online among traders around the world, 24 hours a day, and five days per week. Since there is no centralised 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. — For this reason, iPayTotal has a unique solution to help Forex brokers set up a high-risk merchant Forex account.

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 three 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 the transactions being submitted through their website. This problem can eventually damage a firm’s reputation and brand, which is why opting to have iPayTotal’s expertise and assistance in setting up a secure and flexible Forex trading account is pivotal for your business’s success.

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 cater successfully to their clientele. — iPayTotal offers a processing platform that allows for easy payment in many currencies. Customers will expect their brokerages to offer to process transactions in real-time with instant approvals or declines in order to avoid any possible delays in account funding that could prevent access to the trading desk.

Customised Forex Trading Business Payment Processing Solutions

iPayTotal is an innovative Forex payment gateway and Forex Merchant Account provider that provides tools to transform, grow and scale your online business globally. We are recognised as the best payment solution with the essential back-end operations in place to support the Forex Trading businesses.

iPayTotal offers a complete set of solutions for Forex businesses to accept/make payments in a quick and convenient way. Forex businesses are 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 to provide a wide variety of high-risk forex payment processing requirements, taking care of every step to simplify, streamline and strengthen your online business and back-end operations.

Historically, this has increased client revenues by up to 30-40% due to the increase in approved Forex trading transactions.

iPayTotal is a processing solution for Forex trading companies that 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.

Forex businesses are remarkably high risk for reasons such as the exchange rate risk, the interest rate risk, the credit risk, the Country and Liquidity Risk and the Leverage Risk. Therefore, having iPayTotal behind you, your high-risk Forex trading account will have all the benefits of iPayTotal’s expertise and guidance throughout the process.

Forex trading risk management is the most important factor to consider if you want to become a profitable trader. — At iPayTotal, we offer our clients the ‘total’ solution to fix this problem of great risk because we can set up a merchant account for Forex brokers easily, whilst minimising these risks.

We provide a wide set of innovative services at incredibly competitive prices and requirements, which is what our Forex-trading businesses need; and for this reason, we pride in being the industry’s premier payment processing solution for Forex trading.

iPayTotal is the leading international merchant account services provider. Our powerful tools and resources are key to enable traders to optimise their revenue. 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 set up and start trading 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 one’s 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 transaction types from all over the world.

Our full-featured Forex payment gateway will keep your Forex transactions safe with 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 payment options, which will enable you to open your business to more customers.

  • Comprehensive Solution for Forex Trading businesses
  • 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 rate
  • Integrate our solution in just 12 hours.
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The experience with iPay Total Ltd. is a very good experience in an overall perspective. Nice and helpful staff, a lot of support during the process of processing transactions, and also good territorial coverage are the most important positive features of this provider (although they are still working on widening of the same).

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Michał Telka
Chairman, Bluewater Corp

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 principal concern to banks, and for this reasonable concern, banks 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 remarkably 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, understanding the nature of trading companies being considered high risk.

With iPayTotal you not only receive a merchant account but a fully-fledged payment gateway, which can be either integrated to your website or to any cashier system or software 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 behaviour, ensuring any suspicious activity is blocked immediately. In this way, your high-risk Forex trading account will give you the peace of mind you need to carry on with other important aspects of your business.

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—this is a unique option that most Forex trading companies fail in achieving because of high volume transactions and the limits imposed upon them. With iPayTotal, your Forex account will be set up with your specific needs in mind.

It is vital to have financial confidence when using the Forex Trading Merchant Account online, which is why we keep your account safe and offer top performance when trading by our extensive capital and risk-management procedures. We know that forex merchants face many difficulties 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 obtain the processing capacity you need to manage and grow your business.
  • Multi-currency Processing. Forex is an international trading platform.  A Forex merchant account allows you to accept payments and receive settlements in all major world currencies.
  • Multiple Payments Methods. Accept all major card brands.  Add alternative payment methods, which may be the preferred method in various countries.
  • Extensive Fraud Management Tools. Customisable fraud protection defences to keep processing safe and secure.
  • Multi-Channel Payments. Accept payments online.  Unlimited virtual terminals for MO/TO 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?

The very nature of Forex trading means that it is accessible to all; however, banks and building societies can be selective with whom they work. The Forex business is a complicated one. Forex businesses are considered to be very high risk for many reasons, which makes it difficult for business owners to set up a merchant account.

We always try to obtain the best rates for our Forex merchants with our partner banks; still, final rates are unavoidable due to the following factors:

  • Monthly processing volume: The bigger the volume, the lower price. Also, if the 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.
  • Licence / Regulation: If you do not have a licence for working on the Forex market, please contact our specialist and receive a free consultation.
Why is it considered high-risk?

Owing to the Forex market has a high trading volume, Forex assets are classified as highly liquid assets; and because they are leveraged products, there is great risk associated with Forex trading, which may result in hefty losses.

Considering this, traders need to account for these various risks for when actively trading on the Forex market, Such risk 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 allows trading companies and individual traders to leverage a considerable amount of money, which can generate substantial profits or incur considerable losses.

So, to be successful in Forex trading, it is mandatory to understand these risks and how they can be monitored and contained. At iPayTotal, we review the currency trading risks associated with the Forex market and help you to navigate and mitigate these risks as much as possible.

Since banks and other financial institutions will not open a merchant account for your Forex business due to its being labeled ‘very high risk’, it may limit the number of investors you could attract worldwide, who might prefer using Forex as a payment method.

This is the most important reason why merchants desire to have a Forex trading account—and since we are aware of this vital business requisite, we have the ultimate solution for your high-risk merchant company to become a successful Forex-trading company.

Before trading, it is recommendable that investors precisely know the amount they are willing to risk. Consequently, understanding these risks allows traders to develop effective trading plans as well as making wise decisions such as making use of the right tools, use of a protective stop loss, use of leverage and margin prudently, use of appropriate position sizing,

We encourage you to treat trading like a business—all these tools are available through our package to manage high-risk merchant accounts 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.

FEATURES

  • Comprehensive Solution for Forex Trading businesses
  • Rates starting at just 1%
  • Secure data transfers with PCI Level 1 compliance
  • Track your transactions with a robust reporting system
  • 98% application approval rate
  • Integrate our solution in as little as 12 hours to a week
  • Three integration options – HPP, API, and MO/TO
  • A large acquiring network that includes 10 banks based in EU, five banks based in China, and 15 banks based in CIS as well as 30 financial institutions worldwide.

iPayTotal can help you with payment processing solutions that are reliable and affordable for your business.