Forex Brokers that Accept Credit Cards

Compare Forex brokers that accept credit cards to fund your online trading account. Understand the pros and cons of using a credit card to trade online, from your very deposit to your first withdrawal.


4.7 / 5 AvaTrade
77.82% of retail CFD accounts lose money

AvaTrade.com is an award-winning online broker, in business since 2006. Trade CFDs on one of the widest possible range of instruments and asset classes, from Forex to ETFs and government bonds.

  • Likes
  • Over 750 financial instruments on MT4/5.
  • Get free daily trading signals.
  • Easily copy professional traders.
  • No fees on deposits or withdrawals.
  • Get one-on-one assistance when you deposit US$1,000.
  • Dislikes
  • You cannot trade on raw spreads.
  • Quarterly and annual inactivity fees.
Our take on AvaTrade

The breadth of assets available to trade through its platform sets AvaTrade apart from the competition. You'll find over 750 instruments, including currencies, stocks, indices, ETFs (and leveraged ETFs), precious metals, commodities, cryptocurrencies, and government bonds.

AvaTrade supports the MT4 and MT5 platforms, available for Windows and iOS devices. Its web trading platform is sleek, with advanced charting tools. AvaTrade's spreads are competitive and fixed, which can provide a more predictable trading environment, well-suited for beginners.

Its customer service is excellent too. Every time a question has arisen, we've been able to speak to a customer support agent easily through a local telephone number. Our queries were resolved within minutes. AvaTrade support is available five days a week through various channels, including WhatsApp.

Read review ▷

Why use a credit card?

  • Fund your account online 24/7 using your Visa or MasterCard.
  • Activate and fund your account within hours.
  • Make direct withdrawals to your credit card.

Your first deposit

Most brokers are required either by law or regulation to check their customers' identity before doing business with them. These procedures, also known as 'Know Your Customer' (KYC), are in place to prevent identity theft, money laundering and the financing of terrorism.

If you fund your account by credit card, you can expect your broker to request a copy of the card. We suggest sending only the front side of the card, unless requested otherwise, to keep the card security code private. The card security code is a three or four-digit number found on the back of MasterCard, Visa, Diners Club and Discover credit cards.

In an attempt to fight credit card fraud, some brokers set a cap on amounts you can deposit by card. That threshold stands at US$ 15,000 in the case of HFM.com. Others, like HYCM.com, may request a credit card authorisation form if you plan to deposit over US$ 10,000. The form is a statement designed to protect them against costs associated with charge backs from credit card companies in the event of fraud.

Credit card fees

Most brokers charge no fees on incoming deposits. However, intermediary banks and credit card companies can charge between 2% and 3% depending on the funding currency. This is typically deducted from the amounted deposited into your online trading account. For this reason, we suggest that you deposit up to 5% more than the minimum required to allow enough headroom for fees.

Additional deposits

Once your credit card is linked to your online trading account, you can expect your broker to turn to it to fund margin calls should your account's equity falls below threshold. This is standard practice but can come as a surprise to new investors.

If your credit card limit is set low or your trades are highly leveraged, one or more margin calls could max out your credit card. Your credit card company could either impose a fee and/or freeze your credit card altogether until you've paid down your debt. This can have immediate consequences on your everyday life and that of your loved ones.

Know your credit card limit and manage your risks carefully when trading online with your credit card. Implement stop loss, take profit orders and other risk management strategies to cap your losses.

Plan for withdrawals

Last but not least, you'll want to plan ahead for withdrawals before making your very first deposit. Most brokers will only allow withdrawals to the original source of funds - whether that is a credit card, debit card or bank account.

Brokers complying with anti-money laundering regulations and credit card company regulations may restrict the maximum credit card withdrawal to the amount deposited by card. Any profits above that can be withdrawn to a bank account in your name.

If you have deposited funds using multiple credit cards or bank accounts, most brokers will transfer funds to the last funding source - whether that is a credit card, debit card or bank account.

Read your broker's customer agreement carefully because withdrawal policies vary from one broker to the next.

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Author

About the author

I'm Stéphane, a trader and an entrepreneur. My mission with TrustedBrokers is to help you find the right broker for you, whether you're a beginner or a pro. I've personally used and tested the brokers on our service, opening and funding real-money accounts, contacting customer service and placing trades. I started my career in investment banking in London.

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