Each of the brokers in our current recommended list accepts bank deposit transfers along with several other financing options. This gives you the opportunity to use other criteria to select brokers that best suit your preferences and match your trading activity. We have compiled our list of recommendations below, based on each trading platform, average payouts, bonuses, support, and available options for various asset classes. We tried to make it as easy as possible for you to get started.
LMFX4 min read

HF MARKETS4 min read

Dukascopy4 min read

IG Markets3 min read

Alpari3 min read

City Index3 min read

Tickmill3 min read

HY Markets3 min read

Forex3 min read

Plus5003 min read

EasyMarkets3 min read

MarketsX3 min read

DeltaStock2 min read

Saxo Bank3 min read

Binary3 min read

NAGA3 min read

Darwinex3 min read

XTB3 min read

World Forex3 min read

Vantage FX3 min read

SimpleFX3 min read

ActivTrades2 min read

Swissquote2 min read

Opteck3 min read

Pepperstone3 min read

AvaTrade3 min read

eToro4 min read

TRADE3 min read

FxPro3 min read

Trade3603 min read

About the payment system
Brokers realize that traders need a number of ways to fund their account. Reasons vary. For example, many traders do not have credit cards, or have already put funds into the market to carry out promising transactions. Others prefer to limit the use of credit cards to buy only personal items or enter a business. Some avoid using e-wallet services because of concerns about transferring money to an intermediary. To meet the needs of traders, many brokers offer a bank deposit option in addition to accepting credit cards, checks, АСН transfers, and deposits through electronic wallets.
This page will provide everything you need to know about arranging bank transfers for brokers. We will explain how to do this, including in stages. You will also learn how to make bank deposits compared to other deposit methods. Although this financing option is less than ideal for most traders, it can be a great solution in certain circumstances.
How to send money by bank transfer to your account
Before you can connect money to any broker, you must first have an account with a broker. If you have not done so already, register an account. In case you have not chosen a broker yet, however we strongly recommend using one of the listed companies, which we recommend on this page. We reviewed them all, and verified that they are all legal and reliable.
Unlike credit card deposits, which can be made directly through the broker’s software, bank transfers are initiated through your bank. This means that you need to contact your bank to make a transfer. You may need to visit the office in person or call. Your bank may also allow you to send a transfer through their website.
You need to provide your bank with a few pieces of information in order to transfer the money. Your bank may request a broker name and broker account number. You must also provide an IBAN and SWIFT broker code.
If you send a transfer to an account or to a specific person, your bank will probably require you to fill out a transaction form. Then you will receive the transaction number, which must be transmitted further – by fax or email – for your broker.
* Be prepared to pay a fee to your bank to process the transfer. You must also expect at least five business days for them to arrive before funds appear on your account.
Bank deposit compared to other deposit methods
Bank transfers are one of the best ways to deposit large amounts into your account. Although most brokers allow you to transfer as small as $100, this option is best suited for much larger amounts (for example, $40,000). Very few people are able to make such large deposits using their credit cards. Even if they have enough space on their cards, several brokers will accept such large deposits with credit cards.
This method also has an advantage over e-wallet services. Although banks charge a fee for processing bank transfers, tariffs are usually much lower than those charged by e-wallet companies. The reason is that banks charge a fixed fee while electronic wallet services calculate their interest on the transfer amount. Thus, replenishing $10,000 through an electronic wallet will cost several times more than you pay the same amount through a bank.
In addition, electronic wallet services charge a fee on both sides to receive and send a transfer. You will pay a commission for transferring funds through an electronic wallet, and pay another fee to the broker when sending funds back.
АСН (Automated Clearing House) deposits are perhaps better than bank transfers. There are two reasons:
- First, banks usually impose smaller commissions to process them;
- Secondly, there is less involvement of bank staff. This means that there is less chance that errors will occur.
The problem is that the ACH system only works for US operations. Thus, only some brokers are able to accept them.