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3 Best Forex Brokers that Accept Debit Card
In this guide
- 1. 3 Best Forex Brokers that Accept Debit Card
- 2. What are the best Debit Card forex brokers?
- 3. Best brokers that accept Debit Card, reviewed
- 4. How to use a Debit Card forex broker
- 5. Quick answers to key questions
- 6. What to look for when trading forex with Debit Card brokers
- 7. Methodology: How we chose the best Debit Card forex brokers
- 8. FAQs
Trade your favourite markets with our top-rated broker, .
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Trading forex with Debit Card is a straightforward process that anyone can pull off with a little help.
With a diverse range of users across the world using various payment methods to fund their accounts, it’s become a key deciding factor when choosing a broker to trade with. The good news is that Debit Card is widely used, and several brokers now accept it as a method of payment.
In this guide, we’ve picked out the best forex brokers that accept Debit Card, explain how to fund your trading account with Debit Card, and address the most pressing questions from beginner traders.
Let’s get started!
What are the best Debit Card forex brokers?
Copy link to sectionAccording to our research, the best Debit Card forex broker is eToro .
Here are our top Debit Card forex brokers with low fees, top security, and fast execution speeds:
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Plus500
CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
This information is NOT relevant to EU residents who are to be serviced by EU subsidiaries of the Plus500 Group, such as Plus500CY Ltd, authorised by CySEC (Reg. 250/14). Different regulatory requirements apply in Europe such as leverage limitations and bonus restrictions.
Best brokers that accept Debit Card, reviewed
Copy link to sectionWe found 3 forex brokers for users based in
1. eToro. Best for beginners, copy-trading & demo-account
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Overview
We love eToro because it’s a crypto trading platform built with beginners and casual traders in mind. The platform combines an interactive, social trading experience with an easy-to-use interface, making it ideal for novice traders.
The far-reaching catalog of 100 cryptocurrencies includes big names like Bitcoin and Ethereum, as well as smaller crypto tokens with high growth potential. Some supported tokens can be seamlessly transferred to the eToro Money crypto wallet for safekeeping.
One feature we particularly appreciate is the ability to interact with eToro’s 35 million users on any asset, market, or portfolio page. If you find traders whose strategies match your risk tolerance, you can copy their portfolios automatically using eToro’s flagship copy trading functionality. eToro crypto’s Smart Portfolios offer a great entry point into digital currencies, an opportunity to learn and potentially benefit from the expertise of more experienced traders.
If you don’t feel comfortable investing your cash straight away, you can use a free demo account, credited with $100,000 virtual dollars. This offers plenty of opportunities to try out a trading strategy that works for you across the 100 crypto tokens available.
Highlights
| No. of tradable assets | 3600+ |
| Min. Deposit | $100 |
| ID verification required | Yes |
| Free demo account | Yes |
| Supported assets | Stock CFDs, ETF CFDs, Forex CFDs, Index CFDs, Commodity CFDs, NFTs, Crypto |
| Mobile trading app | Yes |
| Web trading platform | Yes |
| Regulatory bodies | ASIC, FCA, CySEC, FinCEN |
Fees & Costs
| Trading fees | Yes, on certain assets |
| Inactivity fees | Yes |
| Rollover/overnight fees | Yes, on CFDs |
| Withdrawal fees | Yes |
| Spreads | Yes, on certain assets |
| Conversion fees | Yes, for non-USD currencies |
Pros & Cons
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
2. Plus500. Best for international trading*
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Overview
We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you trade. Its technology driven platform gives access to futures for a range of instruments, including forex, commodities, and cryptocurrencies among several others.
Plus500 has something for all types of traders, no matter what level of experience. Its low margin requirements (starting at $20) and different contracts make it a top choice for day traders. At the same time, its trading academy is packed with educational content, perfect for beginners just starting.
For accurate instrument availability, visit plus500.com.
The fees: Plus500 charges a commission of $0.49 per Micro contract and $0.89 per Standard contract (per side). There is an Auto-Liquidation fee of $10 per contract. Other exchange fees may be applicable and can be found on the CME group website.
*Based on a comparison of 60+ leading brokers and trading platforms.
Highlights
| No. of tradable assets | 2800+ |
| Min. Deposit | $100 |
| ID verification required | Yes |
| Free demo account | Yes |
| Supported assets | Stock CFDs, ETF CFDs, Forex CFDs, Crypto CFDs, Index CFDs, Commodity CFDs |
| Mobile trading app | Yes |
| Web trading platform | Yes |
| Regulatory bodies | FSA, ASIC, FMA, FCA, CySEC |
Fees & Costs
| Trading fees | No |
| Inactivity fees | Yes |
| Rollover/overnight fees | Yes |
| Withdrawal fees | No |
| Spreads | Yes |
| Conversion fees | Yes |
Pros & Cons
Buy or sell stock CFDs with Plus500. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
How to use a Debit Card forex broker
Copy link to sectionIt takes about 10 minutes to sign up for an account with a forex broker, then a little longer to verify your account and deposit some money into it. Debit Card is a simple way to fund a trading account. Here’s how to do it.
Step 1. Sign up with eToro
Copy link to sectionStart by selecting a reputable forex broker that accepts Debit Card. Look for one that’s regulated and has a good track record. It’s like picking a trusted travel guide for your financial journey.
We recommend eToro as the best Debit Card forex broker.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Step 2. Create an account
Copy link to sectionSign up for an account with your chosen forex broker. You’ll need to provide some personal details and supply a form of ID, but this is a quick and easy process. Just make sure you have your passport or driving license to hand.
It might take a few minutes for verification to come through but once it does, you’re all clear to start trading forex.
Step 3. Deposit funds with Debit Card
Copy link to sectionHead to the deposit section of the forex broker’s platform, select Debit Card from the drop-down list of ways to transfer money, and follow the instructions. Your funds will be ready to trade in no time.
It’s a good idea to set Debit Card as your default deposit and withdrawal method from now on, so this process gets a bit faster in future.
Step 4. Enter the amount you want to deposit into your forex trading account
Copy link to sectionDecide how much you want to start with, which can be as little as $10 or as much as $100 or more. You may be asked to log in or approve the transaction through Debit Card before it goes through.
Step 5. Trade your first currency
Copy link to sectionWith funds in your account, you can start trading. Use the broker’s trading platform to buy and sell forex pairs. It’s like stepping onto the trading floor from the comfort of your home.
Search for a currency pair, such as USD/GBP or GBP/EUR, enter how much you want to spend, and execute the trade.
Quick answers to key questions
Copy link to sectionWhat is a Debit Card forex broker?
Copy link to sectionA forex broker lets you trade one foreign currency for another to take advantage of price movements of different currencies. Debit Card forex brokers are trading platforms that let you make deposits and fund your account with Debit Card.
This means you can manage your trading account with the same ease and speed you enjoy when shopping online or sending money to friends.
What are the fees and commissions when using forex brokers accepting Debit Card?
Copy link to sectionIt depends on the broker. The difference between a broker’s buy and sell price for each currency is the main cost of trading. This cost (known as the ‘spread’) is the same regardless of how you decide to fund your account.
Here is a comparison of spreads among the top Debit Card forex platforms.
| Product | eToro spreads | Plus500 spreads | Revolut spreads |
|---|---|---|---|
| Stock CFDs | 0.15% | 0.10% | – |
| ETF CFDs | 0.15% | 0.10% | – |
| Forex CFDs | From 1 pip | 0.8 pips | – |
| Crypto | 1% | – | – |
| Index CFDs | From 0.75 points | 0.20% | – |
| Commodity CFDs | From 2 pips | 0.50% | – |
| View all tradable assets > | eToro > | Plus500 > | Revolut > |
There may be additional fees for depositing or withdrawing funds to your Debit Card account. Debit Card fees can vary as well and are likely to be higher than using a direct bank transfer.
The table below looks at the different fees you might find with each platform:
| Fee | eToro fees | Plus500 fees | Revolut fees |
|---|---|---|---|
| Trading fees | Yes, on certain assets | No | – |
| Inactivity fees | Yes | Yes | – |
| Rollover/overnight fees | Yes, on CFDs | Yes | – |
| Withdrawal fees | Yes | No | – |
| Spreads | Yes, on certain assets | Yes | – |
| Conversion fees | Yes, for non-USD currencies | Yes | – |
| View more > | eToro > | Plus500 > | Revolut > |
Spend some time researching online brokers to avoid any surprising hidden costs.
Is it safe to trade forex with Debit Card?
Copy link to sectionAs long as you pick the right platform, yes, absolutely. Trading forex with Debit Card is as safe as using it for any other online transaction. Debit Card employs top-notch security measures like encryption and fraud detection. Pair that with a regulated broker, and you’ve got a fortress protecting your funds.
The National Futures Association is the financial organization that manages forex brokers in the US. The register allows you to check whether your broker is registered to offer financial advice and derivatives trading markets.
Regulated brokers provide investor protection in accordance with local financial regulations. All of our recommended brokers are regulated, but you can check by searching your broker’s name or registration number through the NFA register online.
The best Debit Card forex brokers also offer robust encryption features that protect your data and keep forex traders secure.
Do I need to provide ID when trading forex with a Debit Card broker?
Copy link to sectionYes, you do. Most brokers require identity verification to comply with regulatory standards. This process might seem tedious, but it’s crucial for maintaining a safe and compliant trading environment.
A verification process is standard procedure for all the best brokers, as they have to comply with KYC (Know Your Customer) financial regulations.
The verification process may include anything from some basic financial and personal information to providing a form of photo ID before you can trade forex using Debit Card.
Can I use MetaTrader 4 with forex brokers that accept Debit Card?
Copy link to sectionYes. MT4 is a piece of trading software that’s popular with forex traders and available with most forex brokers. You can download the MetaTrader software and link it to any of your broker accounts.
The same applies to MetaTrader 5, which is simply the latest version of the software.
Do many forex brokers accept Debit Card?
Copy link to sectionMost brokers allow you to deposit money from Debit Card and make Debit Card withdrawals. However, it’s not universal, and not all forex brokers accept Debit Card payments. Use the table above to choose the best forex broker accepting Debit Card.
What to look for when trading forex with Debit Card brokers
Copy link to sectionBefore choosing any platform, it’s a good idea to run through a mental checklist of what you want from the service before you sign up. Here are a few pointers of what to look for to guide you in the right direction.
- A regulated platform. Forex brokers must be regulated by the Commodity Futures and Trading Commission (CFTC) and be part of the National Futures Association (NFA). These two platforms protect traders and ensure that the markets operate fairly. Always opt for brokers regulated by reputable financial authorities like these. This ensures your funds are protected and that the Debit Card forex broker operates within legal frameworks.
- Tight spreads. Price spreads (and price movements) are measured by a unit called pips, which stands for point in percentage. So if the EUR/USD pair moves from 1.1015 to 1.1016, it’s moved one pip. The smaller the number of pips in the price spreads a broker offers, the better. Lower spreads effectively mean lower prices and are an important means of distinguishing one broker from another.
- Variety of payment methods. Different brokers will accept different methods of payment. Debit Card is now a widely accepted way to fund your brokerage account and choice of payment methods is expanding all the time. Pick somewhere that allows you to deposit and withdraw funds in a way that works for you.
- Suitable deposit and withdrawal limits. Different platforms will impose different limits on the amount you’re able to deposit or withdraw at any one time. Pick a broker that suits your needs, whether you’re an experienced high roller or a cautious beginner.
- Good reputation. With so many brokers and trading platforms to choose from, the prospect of narrowing down your search and picking the best one can be daunting. The good news is that forex broker platforms have existed for a while, so many of them have a long enough track record to accrue a sizable number of user reviews. Those user reviews, along with media coverage and awards, should help you figure out whether or not a platform has a strong reputation and can be trusted.
- Clean and easy-to-use interface. Choose a platform that’s intuitively designed and easy to use. Is it a good beginner forex broker? Do they offer forex signals? Is it a high leverage forex broker? Allow you to automate using forex robots?
- Variety of currency pairs. Seven currency pairs dominate global forex exchanges. That said, there are approximately 180 different legal fiat currencies around the world. If you’re interested in branching out beyond typical GBP/USD/EUR trades, seek out a broker that can facilitate a wider range of trades.
Methodology: How we chose the best Debit Card forex brokers
Copy link to sectionHelping people make better financial decisions is at the heart of our mission at Invezz.
We periodically test more than 63 forex trading platforms to provide our users with clear, accessible guidance on the investing options available. Our panel of forex experts, analysts, and active traders sign up for each broker, conduct research, and score each service.
Our tests are designed to find foreign exchange platforms that use Debit Card and offer a beginner-friendly, secure trading experience at a fair price. To supplement our practical testing and experience, we research each service to gather any further relevant information. We read online customer reviews and app reviews on the Play Store and App Store and conduct user surveys to get feedback from real people about what works and what doesn’t.
Each forex broker is awarded a final score based on 130+ data points across 8 ranking categories: cost, reliability, user experience, deposit and withdrawals, investing options, range of products/markets, research and analysis tools, and the availability of educational and learning resources.
We work closely with individual brokers to ensure all factual information displayed here is accurate. All data is then fact-checked by an independent reviewer. You can learn more about our expert panel and how we test, rate, and review platforms in our review process.