Trading forex is a good way to make some money for people that are good in finance and investing. However, most brokers are abroad, so whenever you need to deposit or withdraw money, you have to do it through Visa or other types of credit cards. This method is usually expensive and eat up a lot of your profits. Fully aware of this problem, many forex brokers decide to give out their own debit cards. In this article, I will show you the best forex brokers with debit cards.
What makes the brokers’ debit cards special?
Some years ago, before debit cards were introduced by multiple forex brokers, forex traders had to deposit their funds or withdraw their profits through international banks. If you’ve ever transferred money by this method, you’ll know how torturing it is. The process takes really long. The transactions sometimes take to days to execute. Sometimes you find a very good price in the market, but you have to wait too long for the deposit that you miss that chance. Not to mention the paperwork.
Moreover, this method is costly, as well as there are regulations and prohibitions. Some countries doesn’t even allow certain currencies to be traded there. Forex traders back then are really struggling with this payment system.
However, everything changed when forex brokers decided to make their own debit cards. Thanks to these cards, the process of transferring money from brokers to traders got faster and less troublesome. Traders now can deposit money, trade, and withdraw profits within a day. A miracle that older traders won’t believe to be true. Furthermore, the best forex brokers with debit cards even offer special discounts or promotions in some shops when purchasing with their cards.
Of course the first advantage is always the transaction speed. Thanks to the transferring systems from the brokers, all transactions are made automatically, without human work. In just a minute, you can easily transfer money into your card, then start trading immediately after. This cannot be done with international bank transaction.
Moreover, brokers also work with many shops and you can use the debit cards there for discounts and promotions.
Not only depositing, withdrawing with debit cards is just as fast and secure.
There is a wide range of forex brokers who offer debit cards. The only thing you have to look out for is that they don’t offer this service to all countries. Some brokers can only work in certain countries. However, there are a lot of best forex brokers with debit cards, so you can easily find one that does business in your country. But remember, forex regulation must always be the key factor. That is the only thing keeping your trades safe and secure.