Compare the 3 best forex brokers that accept Neteller in 2023

By:

James Knight

James is a lead editor for Invezz, where he covers topics from across the financial world, from the stock… read more.

Updated: Feb 1, 2023

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What are the best Neteller forex brokers?

The best forex broker that accepts Neteller is InstaForex .

Here are some more Neteller forex brokers with low fees, top security, and fast execution speeds:

Most Popular

1

Min. Deposit

-

Promotion

User Score

9.5

Forex Demo Account

Trading accounts in EUR, USD, PLN, CZK, GBP

MT4 and MT5 platforms

Start Trading more info

Payment Methods:

BPAY, Bank Wire, Bitcoin, Boleto, CartaSi, Carte Bleue, China UnionPay, Credit Card, Dankort, Debit Card, Giropay, Ideal, MoneyGram, POLi, Paxum, PayCo, Przelewy24, Sofort, Trustly, Western Union, ePay bg, ePayments Transfer, neteller, postepay, skrill

Full Regulations:

How to trade currencies with a Neteller forex broker

It takes about 10 minutes to sign up for an account with a forex broker. Neteller is a simple way to deposit the money to fund a trading account. Here’s how to get started. 

Step 1. Sign up with InstaForex

We recommend InstaForex as the best Neteller forex broker.

Create an account by supplying your email address, along with some contact details, and ID verification.

Most Popular

1

Min. Deposit

–

Promotion

User Score

9.5

Forex Demo Account

Trading accounts in EUR, USD, PLN, CZK, GBP

MT4 and MT5 platforms

Start Trading more info

Payment Methods:

BPAY, Bank Wire, Bitcoin, Boleto, CartaSi, Carte Bleue, China UnionPay, Credit Card, Dankort, Debit Card, Giropay, Ideal, MoneyGram, POLi, Paxum, PayCo, Przelewy24, Sofort, Trustly, Western Union, ePay bg, ePayments Transfer, neteller, postepay, skrill

Full Regulations:

Step 2. Go to the payment page on your broker’s website or app

This is normally situated in the menu bar or sidebar navigation. Look for a ‘deposit’ or ‘bank’ button.

Step 3. Select Neteller as your preferred payment method

Find Neteller from the drop down list of ways to transfer money. Select it to set Neteller as your default deposit and withdrawal method.

Step 4. Enter the amount you want to deposit into your forex trading account

Decide how much you want to start with. You may be asked to log in or approve the transaction by Neteller before it goes through.

Step 5. Trade your first currency

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

What is a Neteller forex broker?

A forex broker lets you trade one foreign currency for another to take advantage of price movements of different currencies. A Neteller forex broker is a trading platform that lets you make deposits and fund your account with Neteller. 

What are the fees and commissions when using Neteller brokers?

It 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.

There may be additional fees for depositing or withdrawing funds to your Neteller account. Neteller fees can vary and are likely to be higher than using a direct bank transfer.

Spend some time researching online brokers to avoid any surprising hidden costs.

Is it safe to trade forex with Neteller?

As long as you pick the right platform, yes. Regulated brokers provide investor protection in accordance with local financial regulations. All of our recommended brokers are regulated, but you can check by searching for its registration number with the local regulator.

The best Neteller 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 Neteller broker?

Yes, you will need to provide identification when using a forex broker that accepts Neteller. A verification process is standard procedure for all the best brokers, as they have to comply with KYC financial regulations.

The verification process may include anything from some basic financial and personal information to a photo ID. 

Can I use MetaTrader 4 with forex brokers that accept Neteller?

Yes. MT4 is a piece of trading software that’s popular with forex traders and available with most 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 Neteller?

Yes, Neteller is quite widely accepted. Most forex brokers offer lots of different payment methods, so you can normally find one that suits you.

Pros and cons of using Neteller to deposit funds

When deciding if you should start trading forex with a Neteller broker, consider these potential benefits and drawbacks:

What to look for when trading forex with Neteller brokers

Once you’ve established that the brokers you’re considering accept Neteller, you can narrow your search to make sure you’re also finding a broker that offers great service. Think about these factors when you decide:

• Low fees. Look for platforms that won’t too much money out of your pocket in the form of high fees and commissions, or excessively wide price spreads. 
• Variety of forex trading options. Many brokers offer multiple trading options, such as spread betting, futures, and contracts for difference (CFDs). If variety matters to you, look for one that offers numerous 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 there are many more currencies that forex brokers can help you trade. Look for a broker that offers a large number of currencies and trading pairs.
• Security. A high level of security is essential, so always check out what security features a broker has in place before trusting them with your trades.
• Great customer service. The best brokers offer fast, helpful, and responsive customer service, sometimes even around the clock. That’s especially useful for beginner forex traders who may naturally have more questions than more advanced traders.

FAQs