Forex Brokers with Prepaid Card

Written by Miro Nikolov

Miro Nikolov

Miro Nikolov is the co-founder of TradingPedia.com and BestBrokers.com. His mission is to help people make profitable investments by giving them access to educational resources and analytics tools.

, | Updated: March 14, 2025

‹
• Jump to:
• Main Features
• How to Fund Forex Account with Prepaid Cards
• How to Withdraw
• Benefits
• Disadvantages
• Fees and Limits
• Prepaid Card Chargeback on a Forex Account
• Security
• Conclusion
›

Reputable forex brokers are striving to ensure the best trading conditions for their customers, offering innovative platforms, diverse trading instruments, low fees, and convenient payment methods. With traders looking for the most hassle-free way to fund their live accounts and start trading currency pairs or other CFD instruments, brokers tend to adopt more deposit options, with prepaid cards also accepted at multiple forex broker sites.

1. 

   Fusion Markets

   Rating: 4.5

   74-89% of retail's CFD accounts lose money

2. 

   FP Markets

   Rating: 4.8

   73.85% of retail investor accounts lose money

3. 

   Pepperstone

   Rating: 4.5

   75.5% of retail investor accounts lose money

4. 

   AvaTrade

   Rating: 4.4

   76% of retail investor accounts lose money

5. 

   XTB

   Rating: 3.7

   73% of retail investor accounts lose money

6. 

   Interactive Brokers

   Rating: 2.9

   55.68% of customer accounts are unprofitable (Q4 2024).

If you are wondering how you can utilize prepaid cards for your forex trading payments, we have compiled a detailed review that may be of great help. The experts of TradingPedia have also listed some of the best forex brokers that accept payments via popular prepaid card solutions.

Our team has thoroughly evaluated all brokers listed below using TradingPedia’s exclusive methodology.

Main Features of the Best Prepaid Cards Forex Brokers

How to Fund Forex Account with Prepaid Cards

One of the best things about utilizing prepaid cards is that there is no need to register with a third-party service provider. You can easily obtain prepaid cards by visiting a participating merchant offline or purchasing your voucher online. Once you have obtained a prepaid card with the amount you would like to deposit to your trading account, you can launch the Deposit page on the broker’s site and pick the account you would like to fund for your trading sessions.

The next step is to pick the prepaid card solution from the list of supported methods and enter the amount you would like to deposit. To use the prepaid card, you will be asked to provide its unique code. Depending on the prepaid card issuer, this code may be of multiple digits, so make sure that you have correctly entered the code.

All that is left is to confirm the transaction and the money should appear instantly in your trading account. Not only are prepaid card deposits fast and easy, but they will also rarely incur any fees charged on behalf of the broker.

How to Withdraw From Forex Account with Prepaid Cards

One of the main weaknesses of this payment solution is the inability to use prepaid cards for withdrawals from trading accounts. In such cases, traders are required to resort to different payment solutions like bank transfers, credit/debit cards, or other supported methods.

While this is rarely the case, it is possible that you may request a withdrawal with the same prepaid card issuer you have used for your forex trading deposits. Companies like Paysafe allow Paysafecard users to open an account with the service provider and utilize the e-wallet tool for their deposits and withdrawals at a trading website. However, keep in mind that prepaid card issuers are often listed only as a supported deposit option at forex brokerages. Nevertheless, if you have the option to withdraw your funds to the wallet where you also store your prepaid voucher codes, you can usually get your money within 24 hours, with no fees attached to the transactions.

Benefits of Using Prepaid Cards for Forex Trading

When comparing prepaid cards to other methods accepted as payment solutions at forex brokers, we can see that this option offers plenty of advantages to traders. As mentioned earlier, prepaid cards are extremely easy to obtain, requiring no registration with a third-party service provider. Popular prepaid cards are available at a large number of participating retail shops, allowing you to use cash to purchase your vouchers. Alternatively, you may also purchase your prepaid voucher codes online, with the issuers of the cards typically working with reliable online retailers.

Deposits carried out via prepaid cards are processed instantly, allowing you to begin your trading sessions right away. Even if you wish to deposit larger amounts, you can combine multiple voucher codes in a single transaction, allowing fast account funding with more significant sums.

Disadvantages of Using Prepaid Cards for Forex Trading

Even though using a prepaid card for your forex trading deposits can be very convenient, this method also comes with several disadvantages. Even though more forex brokers have started to accept prepaid cards as deposit options, the number of brands who have adopted the payment solution is rather low. That means traders may have a difficult time joining a reputable brokerage that will accept deposits via prepaid cards. What is more, this option may be restricted in some regions, further limiting the accessibility of the method.

Another negative side of using prepaid cards at forex trading sites is the inability to use the option for withdrawals. As there is no way to transfer funds to prepaid vouchers/cards from your trading accounts, you will need to look for an alternative method whenever you wish to withdraw your trading profits.

While forex trading is available to different types of traders, many prefer to charge their trading account with a significant amount they can trade with. Biggest trades often may lead to bigger returns, which may make prepaid cards a less suitable deposit option for large-volume traders. Even though it is possible to combine several prepaid voucher codes and make larger deposits, prepaid cards tend to have lower maximums compared to other methods supported by forex brokers. Below, we will take a better look at the typical limits related to prepaid card deposits on forex broker sites.

Fees and Limits When Using Prepaid Cards to Trade Forex

To help you decide whether prepaid cards are the right solution for your deposits at forex brokerages, we would like to disclose typical limits and fees that are applicable to prepaid card payments. It is worth noting that many forex brokers do not impose a mandatory account minimum amount but payment solutions tend to come with a specific required minimum on deposits.

While the minimum amount you are typically required to deposit via a prepaid card varies according to the broker and the exact prepaid card service you are using, the least amount you can deposit via this method may start as low as $10. Usually, the lowest denomination of most prepaid cards you may purchase for your forex payments is also about $10. While the maximum amount may also differ, brokers that accept prepaid card payments tend to allow deposits of up to $1,000. The maximum allowed amount may often be deposited by combining several prepaid card codes in the deposit section of your trading account.

Although forex brokers tend to adopt different fee policies, most have decided to charge zero fees on deposits carried out via prepaid card methods. That makes the option suitable for traders seeking budget-friendly solutions. That said, it should be noted that a small fee may be charged whenever traders purchase their prepaid cards. The rates, however, depend on the fee policy of the respective card issuing company.

Prepaid Card Chargeback on a Forex Account

While credit and debit cards allow consumers to request chargebacks, debit card holders are not legally entitled to dispute a charge. That said, in some rare cases prepaid card issuers like Mastercard and Visa may allow their clients to request chargebacks on payments they have made to forex trading platforms via prepaid cards issued by the respective company. It is possible that Paysafe, which is one of the bigger prepaid card issuers, may also allow charge disputes.

One thing to keep in mind is that forex brokers will need serious proof that you are entitled to a chargeback, no matter the deposit method you have used for the payment. Nevertheless, if you are certain that you can provide the required proof for the money that you are owed, you should contact the issuing company of the prepaid card you have used for your forex trading payment.

Security When Trading Forex with Prepaid Cards

One of the biggest perks of using a prepaid card for your forex deposits is the extreme level of security applied to transactions. If you opt to buy a prepaid card from a land-based store, you can use cash to pay for your purchase. That said, even if you choose to buy your prepaid voucher code online, you will be initiating the purchase on trustworthy partner websites. That part of the purchasing process ensures that your financial data and sensitive information are protected properly.

Since prepaid card deposits do not require any banking information, account login, or any other sensitive data, your forex payments will be extra secure. Using this type of payment solution also adds a sense of anonymity, which is a feature that many would enjoy.

Having a lower limit on the deposit amount may also be seen as a security feature as prepaid cards can help traders avoid depositing more than they can currently afford to trade. As you may see, security is one of the major strengths of prepaid cards, which explains why traders would prefer to use them for their deposits.

Conclusion

Prepaid cards are a great solution for many forex traders who are looking for a hassle-free way to handle their deposits. With instant processing times, no fees attached to payments, and an increased level of anonymity and security, many forex traders can benefit from this type of payment method. Unfortunately, popular prepaid card solutions are yet to be adopted as deposit options by many forex brokers but we believe that more brands will start accepting this method.