Forex brokers with Prepaid MasterCard®
There are also a variety of other fees on things such as purchases, withdrawals, and more. One of the best methods for accessing your funds is to select a Forex broker with a debit card.
Prepaid MasterCards from Forex brokers
Most brokers have fees for almost everything you do with your card, but not XM. Lastly, XM is a regulated entity and one of the largest forex brokers in the world. Hot Forex is another Forex broker with a big background. They provide operations around the world. They have a focus on providing a system with amazing speed and security. Their whole network is full of redundancies and backups so the chances of a computer error are slim to none. You get all of the same backings that any other MasterCard would have.
It works as both a debit card and an ATM card. It also works around the world, anywhere you want. Hot Forex has a card portal that allows you to view all transactions you make on your card.
This includes your spending, deposits, withdrawals, and other uses of the card. That means that no matter what happens you will know what is going on with your money. If someone tries to use your card, you will know. After that you fill out a brief application. From there, your card will be mailed to you.
Once it arrives, you activate the card via an email that will be sent to the account you register with. They are a licensed card distributor for MasterCard. There are also a variety of other fees on things such as purchases, withdrawals, and more. Unlike with other card distributors, there is no listed way to avoid the fees.
As mentioned before the two brokers listed above are among the top with debit cards available as a withdrawal method. There are a handful of others out there that offer debit cards as a method of withdrawal another example would be Ava Trade.
If you are going to consider other brokers here are some things that you should consider:. It is also important that you look for a broker that is regulated. Regulated brokers mean that they are based in a country that governs how financial brokers operate. The United States, Europe, and a few other governments regulate financial institutions and brokers. To get the most out of a trading venture that is based solely on the trading of money it is important to have a way to withdraw that money that is simple and pain free.
Choosing a broker that provides debit cards to their clients is the best route to go. The XM Debit Card is the best forex debit card. This document should have a validity of at least six months and must show your photo and signature. When will my application be approved? It usually takes less than 24 hours to process and approve card applications. Why is my application delayed? Here are the reasons that an application could be delayed: If your name, address, ID or telephone number are missing or incomplete on the form, the support team will contact you to complete your details.
Duplicate mobile phone number: In the event that this happens, the support team will contact you for an alternative number. If your address matches the address of another client, the support team will contact you to verify your relationship, if any, with the other client before the decision to approve the duplicate address can be made.
When will I receive my card? What should I do? How do I report my card lost or stolen? My Card Account 1. Where can I use my card? Why is my balance ? Example You deposit USD into your card account. What happens if I have a negative balance?
Your card can only be re-activated once you fund it again. Before trying to withdraw money from an ATM and spend your money in a shop or online, you just need to check that: You are using the correct PIN Your card has been activated and has not been deactivated for any reason.
For many traders, adding a forex debit card to their wallet is a good way to show their trading success. Cashing out your winnings with the debit card proves to anyone that your money in the forex trading account is really there and you can access them instantly.
No need to request cash outs and then wait days for the money to show in your bank account. With the debit card the money will be there faster, ready to be used. XM is one of the best forex brokers currently operating in the online environment.
Launched in , XM trading platform offers direct access to the financial markets through more than financial instruments including forex, precious metals, equity indices, and energies. The XM debit card is offered in partnership with MasterCard so you can use it anywhere and anytime you wish because millions of retailers and ATMs around the world accept MasterCard.
You only need to look for the MasterCard logo. If you see it, it means that you can use your forex debit card. Your withdrawal request will be processed and the money will be available on your card within 24 hours and more than that, with no added fees or commissions.