Compare the best brokers to trade forex with Venmo

Using Venmo is a quick and convenient way to deposit funds into your forex broker account. This page compares the best brokers around accepting Venmo payments.
Updated: Sep 12, 2022
Tip: our preferred broker is, eToro: visit & create account

Venmo is a fast and convenient way to fund your forex trading account, especially for people who already use Venmo to make everyday purchases. In this guide, we’ll take you through the best forex brokers that you can use to trade forex online with Venmo, and why you might want to use them. 

Here are the best forex brokers that accept Venmo

When searching for the best forex brokers that accept Venmo as a payment method, consider multiple factors, including ease of use, fees, and security. We’ve compiled a list of the top online forex brokers that accept Venmo as a method of payment, and the top qualities offered by each of them: 

Min. Deposit
$ 10
User Score
55+ currency pairs available
Trade on a trusted platform
24/7 support via live chats, email or phone call
Start Trading
Payment Methods:
Bitcoin, Credit Card, Debit Card, Visa
Full Regulations:
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.
Min. Deposit
$ 10
User Score
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
Payment Methods:
Bank Transfer, Wire Transfer
Full Regulations:
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.
Min. Deposit
$ 10
User Score
Can fund with BTC
64 global companies including Netflix and Amazon
Free deposits and withdrawals
Start Trading
Payment Methods:
Bitcoin, Credit Card, Debit Card, Wire Transfer
Full Regulations:
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 a Venmo forex broker?

A broker is an forex app or website that allows you to trade one foreign currency for another, and Venmo is a mobile payment service that lets you transfer funds through a mobile app. Combined, a Venmo forex broker is simply a broker that allows you to trade forex while funding your account with deposits from Venmo. 

Pros and cons

When deciding if you should use Venmo to make your deposits, consider these benefits and drawbacks:


  • Fast. Transactions often happen within a few minutes. So if you already have a Venmo account, you can start trading forex online almost immediately.
  • Easy to use. Once you’ve linked your Venmo account to your broker, trading forex with Venmo becomes a simple process, requiring only a few quick steps.


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

The fees and commissions that come with trading forex with Venmo are usually low, with transactions generally costing only a couple of pounds at most. 

Just watch out for wide price spreads; Forex brokers take their biggest cut in the form of the spread offered between the bid and ask prices of the currency pair that you want to trade. Look for forex brokers that offer low price spreads when trading forex online.

What to look for when trading forex with Venmo

If the forex brokers you’re considering accept Venmo, you can move on and look for other qualities that can make those online forex brokers more attractive. Consider these factors when choosing a broker that accepts Venmo for online forex trading.  

  • Reasonable price spreads. A broker that offers reasonable price spreads can save you a lot of money over time, especially if you trade forex online frequently.
  • Variety of forex trading options. Some of the most popular forex trading options are futures, contracts for difference (CFDs), and spread betting. Look for a broker that offers numerous different trading options if that’s a priority for you. 
  • Number of currency pairs. Some of the most commonly traded currencies on forex exchanges are the British pound (GBP), US dollar (USD), and the euro (EUR), but there are many more currencies that forex brokers may offer. Look for a trading platform that offers a large number of currencies and pairs.
  • Security. A high level of security is essential. Don’t let your financial or personal data become vulnerable or compromised.
  • Great customer service. The best brokers offer fast, helpful, and responsive customer service, sometimes even on a 24/7 basis. That’s a big plus for beginner forex traders who may have more questions when you’re just starting out at online forex trading.

Is it safe to trade currencies with Venmo?

Trading forex with Venmo is usually secure. That said, do your research to ensure that the broker that you select offers the highest levels of security. Our guides highlight some of the forex brokers that get the highest marks for security.

Do I need to provide ID I trade forex with a Venmo broker?

Most likely, yes. Forex brokers tend to follow KYC (Know Your Customer) guidelines. That means you may be asked to provide certain pieces of personal and financial information, as well as some form of identification.

How to fund your currency trading account with Venmo

Different forex brokers may have slightly different procedures for making trades. On the plus side, most forex brokers follow a similar general framework of steps when it comes to the funding process. If you’ve already set up your Venmo account, you can start trading forex online by following these steps:

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


What currencies can I trade with Venmo?
Are there limits to how much I can trade with Venmo?
What is forex trading?
How can I keep up with the foreign exchange market?
What currency pairs do Venmo brokers offer?
What charges are usually applied with a currency exchange?
What’s the best way for a beginner to learn about forex trading?
What is Venmo?
Who regulates forex brokers in the UK?
Who regulates forex brokers in the United States?
Who regulates forex brokers in the rest of the world?
Is trading forex with Venmo recommended for beginners?

Sources & references
Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

Jonah Keri
Financial Writer
Jonah Keri was a reporter for Invezz, wrote about stocks, cryptocurrencies, and other investments. He also covered emerging technologies for private clients. He is a trader… read more.