If you prefer to trade by making payments and send money online without compromising any of your sensitive financial information, Western Union is an ideal solution. Today, many online brokers accept Western Union as a funding method for trading accounts, giving you the ability to make instant, secure deposits and withdrawals at the touch of a button. Withdrawals can take from a couple of hours to 1-3 days depending on the broker. If you need a forex broker that accepts Western Union as a payment method, take a look at these brokers below.
About the payment system
World-famous Western Union (WU) is a financial company that provides many e-wallet services to its customers. The company is headquartered in the United States and is also known by the company as the best currency exchange in America. There is more than one department within the company. There are various types of payments, such as person-to-person (P2P), money transfers, payments for business and commercial services, so in principle a person can choose among many different payment methods for purchases. Western Union has been in the currency exchange business for over 100 years. This means that from the very beginning of the 19th century, the company has been dominant in this type of business.
Currently, users can use the Western Union official website to make various money transfers or send or receive money, you can also pay your bills or even purchase gift cards. More than 10 million people around the world enjoy the services of Western Union. However, in order to maintain the number one rank in the currency exchange business, Western Union decided that it was time to “penetrate” online services and thus created a service called BidPlay. It was introduced in 2004 and thanks to it you can make any purchases on the Internet or replenish your online trading account for trading. The platform has undergone major changes, back in 2007 due to security issues.
Over time, Western Union decided to conquer a different front – mobile services and mobile funds transfer services. After all, there are now more than 800 mobile service providers in 218 countries, which show an approximate number of about 2.6 billion people using mobile devices.
The platform itself is actually very large and even a person without special knowledge in phones will not have any problems with use. There are also various text notifications that you can use. The platform is actually connected to different eWallet platforms (e-wallets), so you will have more freedom when it comes to Western Union services and account financing.