While selecting a brokerage firm for currency trading, the most vital thing you need to consider is the payment mode. In case you are new to the Forex market, you may think this is not so important, but seasoned merchants hold the opinion that payment modes dictate how good your trading experience will be.
If the broker’s supported payment gateway is extremely slow, you might end up missing out on some lucrative opportunities. Since Neteller offers both speed and security, it is a popular choice among Forex merchants. Here, we shall take a look at the topmost Neteller forex brokers for the USA, while also discussing their advantages and all the things you should take into account while selecting such a broker.
Top 5 Forex Brokers That Accept Neteller
Currency Pairs: 21
EURUSD Spread: 0 pips
Leverage: Up to 1:2000
Here, you can deal on different platforms using both desktop and mobile devices. It has Forex indices that monitor the most favored currency pairs. Even with a Standard account, you can get low spreads, but they are subject to changes depending on the market sentiment, so be aware.
This brokerage firm is well-suited for individuals who trade on a regular basis, due to the fact that it has an inactivity fee. Another great advantage of FXTM is that there is no fixed leverage. It will be decided based on each individual’s trading history, experience, and loyalty to the brokerage. While using Neteller with this broker, you can get your withdrawal procedure completed on the same day.
Currency Pairs: 65
EURUSD Spread: 0.1 pips
Leverage: Up to 1:500
This brokerage firm is based in Australia and it is known for its customer-first approach. It is supervised by some of the best controlling bodies and is known for its advanced security functionality and swift implementation speed. While wire transfers take quite a few days to be processed, you can use Neteller for faster payments.
If you are a novice trader who’s still trying to get the hang of the currency market, you can use a demo account to practice your trading schemes without taking any real risks. This brokerage firm also provides educational resources and has several attractive promo offers that you can take advantage of.
Here, market analysis is presented in the form of videos, so you can easily make sense of them. Setting up an account with this broker does not take much time.
Currency Pairs: 47
EURUSD Spread: 1.0 pips
Leverage: Up to 1:30
This brokerage firm is trusted by more than 4.5 million individuals worldwide. It is well-known for its copy trading functionalities that allow you to monitor the dealings of seasoned merchants and imitate them with your trades. In comparison to the other brokers mentioned here, the tools and educational resources available for this broker are a bit less.
What’s really impressive about this brokerage is the investor program where you can enjoy several advantages like discounts on monthly transactions, as well as management fees. Here, you will also find trading podcasts, regular market, and news analysis.
It also gives you a clear picture of the market sentiment, which is really useful for those who wish to ride the trend.
Currency Pairs: 60+
EURUSD Spread: 0.1 pips
Leverage: Up to 1:30
The best thing about FP Markets is its security. It follows all trading guidelines and is equipped with ECN technology that lets you directly get in touch with liquidity providers without dealers acting as intermediaries. It offers low spreads starting from 0.0 pips and quality education material for new and veteran merchants.
This brokerage firm strives for continuous improvement and is currently used by more than 12k traders internationally. If you wish to enhance your trading skills, you can do so by trading with a demo account. However, the minimum opening balance is relatively higher, and there are added fees for certain kinds of transactions. Furthermore, it has a VPS service that lets you carry out your deals from anywhere while enjoying minimum slippage.
Currency Pairs: 32
EURUSD Spread: 0.2 pips
Leverage: Up to 1:300
RoboForex only uses the top-tier banks for keeping their customers’ money, which means you don’t have to worry about the safety of your funds. It has bagged several awards over the years and is trusted by traders worldwide. With this brokerage, you get a wealth of educational resources, advanced trading tools, and mobile apps.
Another huge advantage of this brokerage is that it does not charge you if your account is inactive for some time. This makes it a good option for those who do not place trades as regularly. You don’t even need to pay anything for making deposits and your data is well-guarded via SSL encryption.
Advantages of using Neteller Forex broker
The various benefits offered by a Neteller broker are as follows:
- If you are employing a trading scheme like scalping that requires quick reactions, you are better off using a brokerage firm that supports Neteller, because you will be able to add money to your account in no time. This is especially helpful during periods of high volatility.
- There are multiple authentication steps to complete before you can access Neteller, which means optimum safety. Moreover, your wallet can be funded through various means.
- By paying a minimum amount, you can convert one currency into another using Neteller.
- Neteller has a global presence, so you can share your money with people from more than 200 nations.
- While relocating money through this gateway, you don’t have to pay a fee.
- If you are a VIP member, you can enjoy higher transaction ceilings, fee discounts, cash-back, and more.
Things to consider before choosing Neteller to make transactions
Here are a few things you need to remember before selecting this payment gateway:
- If you are making a transaction using a currency that the brokerage does not support, you have the option of completing the deposit using a supported currency. For this purpose, the payment gateway might ask you to pay a minor fee.
- There are certain nations where Neteller does not work. If you are residing in one of these countries, you cannot become a member.
- Every individual can have only one account on Neteller, and it is forbidden to provide others access to your account. If multiple accounts are detected for a particular person, the company holds the right to close all of them without prior notification.
- You cannot use someone else’s bank account to complete withdrawals and deposits using this payment gateway.
How to choose the best Forex broker accepting Neteller
Several Forex brokerage firms have now adopted the Neteller payment gateway. There are a few things that should be considered while selecting a trustworthy broker.
- You should check the broker’s website thoroughly to find out the various payment modes supported by it. Usually, this information should be available in the FAQs section. This way, you can find out whether Neteller is supported or not.
- On the official website of Neteller, you can find out about the various special offers available with compatible brokerage firms.
- You can check online ratings and reviews to seek out the most reputable brokerages that support this payment gateway.
It is not quite possible to pick the best one out of all the brokerages mentioned. That is because each has its own special functionalities and features, and you need to decide which one would best suit your purpose.
Remember, you should always do your own research and find out the maximum possible information on each broker, in order to prevent any unpleasant surprises. Whether you are a novice trader or a prominent business personality, Neteller can help you complete your international transactions in no time. It supports multiple languages and has a user-friendly interface, so you won’t face too many problems.