Forex Brokers that Accept Debit Cards

Brokers we recommend

4.3 / 5

Official website ▷

Trading in CFDs carries a high level of risk thus may not be appropriate for all investors.

Exness.com is an offshore broker trusted by over 500,000 active clients. Trade Forex, crypto, commodities, stocks and indices on MetaTrader 4 or 5 with unlimited leverage (conditions apply).

4.2 / 5

Official website ▷

85% of retail CFD accounts lose money

HYCM.com, formerly HY Markets, is an award-winning regulated online broker suitable for day traders as well as long-term investors. It's also an established broker, in business since 1999.

Comparison table

We rate brokers across 5 categories and 18 criteria, following a standardised methodology. Here are our overall and category-specific ratings:

• Score / 5
• Markets
• Platforms
• Funding
• Regulators

4.3 / 5

Official website ▷

Trading in CFDs carries a high level of risk thus may not be appropriate for all investors.

Exness.com is an offshore broker trusted by over 500,000 active clients. Trade Forex, crypto, commodities, stocks and indices on MetaTrader 4 or 5 with unlimited leverage (conditions apply).

• Likes
• Low and stable spreads.
• No swap charges across most FX pairs.
• Unlimited leverage on MetaTrader 4 and 5 (conditions apply).
• Withdrawals processed instantly in a wide range of currencies.
• Negative balance protection is available.

• Dislikes
• No access to a compensation fund in the event of bankruptcy.
• No CFDs on agricultural commodities, ETFs or government bonds.

Our take on Exness

Once you start trading with Exness, you soon understand why this broker is trusted by over 500,000 active clients. We traded through its MT5 Standard account with spreads from just 0.3 pips. Most instruments have no swap charges at all, which makes it easy to estimate how profitable each trade could be.

You'll find a wide range of instruments through its platform. These include over 100 currency pairs, crypto, U.S. stocks, global indices and commodities. The gold and silver crosses against the euro, the British Pound and the Aussie dollar will appeal to gold bugs.

Its web trading platform, built around TradingView charts, is sleek. If you're into technical analysis, you'll be able to customise charts with over 100 indicators and save them for later. Visit Exness to create an account and see for yourself what this broker has to offer.

4.2 / 5

Official website ▷

85% of retail CFD accounts lose money

HYCM.com, formerly HY Markets, is an award-winning regulated online broker suitable for day traders as well as long-term investors. It's also an established broker, in business since 1999.

• Likes
• Trade CFDs or invest in over 1,000 "real" stocks.
• Trade on MetaTrader 4 or MetaTrader 5.
• Get free signals from Trading Central.
• Open a trading account in USD, EUR, GBP, CAD and AED.

• Dislikes
• Trading fees on its Fixed and Classic accounts are a little high.
• Monthly inactivity fees apply after 90 days.
• Copy trading isn't possible.

Our take on HYCM

Trade over 300 instruments across a wide range of markets, spanning currencies, cryptocurrencies, stocks, indexes, and commodities. HYCM offers a variety of trading accounts for beginners and more experienced traders, on the MetaTrader 4 and 5 platforms.

Of note, 'buy and hold' investors can now access over 1,000 'real' stocks, and earn dividends on their investments. It is possible to invest from as little as $10 through fractional ownership. This service includes American, Asian, and European stocks.

HYCM is an established broker, in business since 1999. It is also a safe place to trade, being overseen by regulators in the EU, the UK, the UAE, and other regions. HYCM provides a reliable trading environment. However, its trading fees are somewhat higher than the competition, unless you open a Raw account.

Why use a debit card for deposits?

• Fund your account online 24/7 using your debit card.
• Activate and fund your account within hours.
• Cheaper than bank and credit card payments.

Need for speed

Using your credit or debit card often is the fastest and easiest way to deposit funds into your online trading account. You can make the payment from the comfort of your own home at a time that suits you without having to contact your bank manager.

If your broker receives the funds during business hours, your deposits should be available within hours on the very same day. In fact, you can expect the funds to hit your account within minutes with HYCM.com and HFM.com. If your broker receives the funds outside of business hours, your deposit should be available on the following business day.

However, using your credit or debit card may not be an option if you are looking to deposit very large sums of money. HFM.com won't accept card deposits over US$ 15,000. Instead, you should deposit funds through bank wire instead which can take anywhere between 1 and 5 business days to clear.

Debit card fees

Debit cards such as Visa Electron, Maestro and others are a highly cost effective ways to fund your online trading account. They have a distinct advantage over credit card companies that typically charge between 2% and 3% for processing your payment.

Withdrawals

Last but not least, using a debit card for deposits won't entirely sidestep the need for a bank account because most brokers won't allow you to withdraw more to your card than the amounts you deposited. Instead, you'll need a bank account in your name to withdraw profits. This is to comply with anti-money laundering regulations.

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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.