Compare the best brokers to trade forex with American Express

Are you looking for a convenient way to trade forex? Using American Express could be for you.
By: Jonah Keri
Jonah Keri
Jonah Keri is a trader and analyst who spent 11 years at Investor's Business Daily covering the markets. He… read more.
Updated: May 25, 2021
Tip: our preferred broker is, eToro: visit & create account

If you’re accustomed to using your Amex card for making different purchases, you can also consider using it to speculate on the foreign exchange market. Our handy guide will show you the best brokers that you can use that accept deposits in American Express.

Here are the best forex brokers that accept American Express

When searching for the best forex brokers that accept American Express, you want to consider factors such as speed, ease of use, and transaction fees. We’ve compiled a list of the best forex brokers that accept American Express payments in the table below: 

1
Min. Deposit
$50
Exclusive promotion
user-score
10
Join the Social Trading revolution. Connect with other traders, discuss trading strategies, and use our patented CopyTrader
eToro is the world’s leading social trading platform, offering a wide array of tools to invest in the capital markets
Largest number of currency pairs to trade
Start Trading
Description:
eToro is a multi-asset investment platform with more than 2000 assets, including FX, stocks, ETF’s, indices and commodities. eToro offers a wide range of currency pairs and other trading instruments. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods
Bank Transfer, Wire Transfer
Full regulations list:
CySEC, FCA
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. Your capital is at risk.
2
Min. Deposit
$10
Exclusive promotion
user-score
9.3
55+ currency pairs available
Trade on a trusted platform
24/7 support via live chats, email or phone call
Start Trading
Description:
LonghornFX is a true ECN STP broker dedicated to delivering a superior trading experience to traders no matter their level of experience. Their services are based on transparency, innovation and efficiency, ensuring an unparalleled trading experience for all.
Payment Methods
Bitcoin, Credit Card, Debit Card, Visa
Full regulations list:
LonghornFX offers high-leverage trading on a wide variety of assets. Trading with leverage carries a degree of risk which may result in losing more than your investments. Clients should practise risk management to protect themselves from losing more than they can afford when trading with leverage.
3
Min. Deposit
$10
Exclusive promotion
user-score
8.7
Can fund with BTC
64 global companies including Netflix and Amazon
Free deposits and withdrawals
Start Trading
Description:
EagleFX is an online digital asset, Forex and CFD broker providing traders across the globe with cutting edge technology to trade the world’s markets. Our focus has been to change the way people trade Digital Assets and Forex. We are driven to provide traders with incredibly low-cost pricing across all Digital assets, FX, stocks, indices, commodities and futures along with industry-leading 24/7 live customer support.
Payment Methods
Bitcoin, Credit Card, Debit Card, Wire Transfer
Full regulations list:
EagleFX offers leveraged trading on a range of assets within its platform. CFD and Spot Forex trading do carry a degree of risk which may result in you losing more than your initial investment. Please ensure you fully understand the risks involved with leveraged trading and ensure this is not detrimental to your personal or institution's financial well being.

What is an American Express forex broker?

A forex broker lets you trade one foreign currency for another to take advantage of price movements of different currencies. An American Express broker is a trading platform that lets you make deposits and fund our account with an Amex card. 

Pros and cons

When deciding if you should use an American Express card, consider these potential benefits and drawbacks:

Pros

  • Fast Deposits. Unlike with some other payment options, deposits made with American Express happen almost instantly. That means you can start trading forex with American Express with no wait time. 
  • Easy. Trading forex with American Express is a simple process. Given the sometimes complex strategies involved in making money with forex trading, having a simple payment method is most welcome.
  • Convenient. If you’re already an American Express cardholder, you probably use your card all the time. So it’s a natural transition to use it for foreign exchange markets as well.

Cons

What are the fees and commissions when using American Express to trade currencies?

A wide variety of different banks issue American Express cards, meaning the fees associated with them often vary. Likewise, commissions depend more on the forex broker you choose than on the Amex card itself. So it’s best to research the forex brokers that charge the least before you begin trading forex with your American Express card. 

What to look for when trading forex with American Express brokers

Once you’ve established that the forex brokers you’re considering accept American Express, the next step is to narrow your search. Consider these factors when choosing an American Express forex broker:  

  • Low withdrawal and deposit charges. Some forex brokers allow you to use American Express, but at a cost that can eat into your potential trading profits. Look for an American Express forex broker that offers low withdrawal and deposit charges.
  • Variety of forex trading options. Many forex brokers like to have multiple trading options at their disposal, including spread betting, futures, and contracts for difference (CFDs). If variety is an important factor for you, seek out a forex broker that offers a variety of different trading options. 
  • Number of currency pairs. Some of the most commonly traded currencies on forex exchanges are the British pound (GBP), US dollar (USD), and euro (EUR). But some forex traders like to trade a wide variety of currencies within currency pairs. If that fits your description, look for an American Express forex broker that offers a variety of currencies to trade.
  • Security. A high level of security is a must when choosing an American Express forex broker to handle your trades. You’re trusting this platform with your money, so you want to make sure it’s secure.
  • Great customer service. The best American Express forex brokers will offer fast, helpful, and highly responsive customer service options in the event you require assistance.

Is it safe to trade FX with American Express?

As long as you pick the right platform, yes. The best American Express forex brokers offer robust encryption features that protect your data and keep your trading secure. 

Do I need to provide ID trading forex with an American Express broker

Yes, you will need to provide identification when using an American Express forex broker. Forex brokers, like forex traders, want to ensure that they avoid scammers, making a verification process standard procedure. The verification process may include anything from some basic financial and personal information to a photo ID. 

How to fund your currency trading account with American Express

While different forex brokers can have slightly different procedures for making trades, most follow a general framework of steps. Here’s what to expect:

  1. Find the payments page on your forex broker’s website or app.
  2. Select American Express (or Amex) as your preferred payment option.
  3. Enter your credit card information.
  4. Enter the amount you want to deposit into your forex trading account.
  5. Click confirm.

FAQs

What currencies can I trade with American Express?
Are there limits to how much I can trade with American Express?
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What other payment methods can I use when trading forex?
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What is American Express?
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Fact-checking & references

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