Before you use Neteller to fund your Forex trading account you will need to open and fund a Neteller eWallet.
Opening a Neteller eWallet is a simple process requiring only your name, email address and password. Once you have opened the eWallet, you will need to fund it via your bank account, credit/debit card or e-payment system.
Neteller works with many international banks and transfer methods, as well as the Visa payment system. All funding methods are charged at 2.5% unless you deposit more than 20,000 USD, in which case all fees are waived.
Once you have a funded account, Neteller offers three methods of electronic payments via its eWallet
- Direct payments via the Neteller wallet (as is the case with most brokers)
- With the Net+ Mastercard (this can also be used for daily transactions)
- Via transfer to a verified bank account
The most common method of funding a trading account is via direct payment from your Neteller eWallet. You start this process on the Forex broker’s website, before being redirected to your Neteller eWallet to verify the transaction.
Neteller also offers the Net+ Mastercard, which functions exactly like a normal Mastercard debit card and is linked to your Neteller eWallet. This can be used as a normal debit card when funding your account if you prefer this method.
Advantages of Funding Your Trading Account with Neteller
There are three major advantages of using Neteller to fund your trading account:
- Security: Neteller transactions are generally very secure, requiring 2-factor authentication.
- Instant Funding: instant deposit and withdrawal that most brokers will support with Neteller transactions. This allows traders to instantly fund their accounts and make a trade if they spot a good opportunity.
- Free Funding: In most cases (but not all) Forex brokers will not charge any fees for withdrawals or deposits made with Neteller.
Final Word
Neteller, and its stablemate Skrill, is the easiest and most efficient ways of funding a Forex trading account.
Most brokers will charge fees for bank transfers and credit/debit card payments and withdrawals. Even worse, deposits and withdrawals via bank transfer and credit/debit cards often take a few days for brokers to process.
To avoid the fees and processing times, we recommend that all serious Forex traders use Neteller to fund their accounts.
Forex Risk Disclaimer
Trading Forex and CFDs is not suitable for all investors as it carries a high degree of risk to your capital: 75-90% of retail investors lose money trading these products.
Forex and CFD transactions involve high risk due to the following factors: Over-leveraging, unpredictable market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection for clients.
Traders should not deposit any money that is not disposable. Regardless of how much research you have done, or how confident you are in your trade, there is always a substantial risk of loss. (Learn more from the FCA or from ASIC)
Our Methodology
Our State of the Market Report and Broker Directory are the results of extensive research on over 180 Forex brokers. The explicit goal of these resources is to help traders find the best Forex brokers – and steer them away from the worst ones – with the benefit of accurate and up-to-date information.
With over 200 data points on each broker and over 3000 hours of research and review writing, we believe we have succeeded in our goal.
In a world where trading conditions and customer support can vary based on where you live, our broker reviews focus on the local trader and give you information about these brokers from your perspective.
All research has been conducted by our in-house team of researchers and writers, gathering information from various company representatives, websites and sifting through the fine print. Learn more about how we rank brokers.
4.53
Accepts Kenyan Clients. Average spread EUR/USD 1.00 pips pips on trading account with lowest minimum deposit. Max leverage 400:1. Islamic account available. MT4 & MT5 platforms supported. HF Markets Group regulated by the FSCA, FCA, FSC, CySEC and the DFSA.
