Finding A Reliable Payment Gateway: A Tough Task For Forex Brokers

 Forex trading is a quick way to make high amounts of profit with different levels of risk solely at the discretion of the investor.

On the other hand, forex trading can be risky as the currency market fluctuates. Every currency cannot go up simultaneously, so you must be ‘fast as light’ while trading in this market. 

Choosing a reliable payment gateway is a difficult task for forex companies. Today’s blog will eloquently discuss forex trading and the problems faced while finding a payment gateway. 

  • What is Forex Trading? 

The general buying and selling process of global currencies is termed Forex Trading. Through Forex trading, individuals, businesses, banks, and governments process their payments for currencies of other countries. 

  • What is  a Forex Payment Gateway?

The Forex payment Gateway acts as a bridge between the online currency trading platforms and their users.

  1. Forex merchants integrate their trading platforms with an authorized payment gateway which helps them accept client payments through smooth transactions. 

  2. The brokers use the forex payment system to fund their accounts and withdraw money.

  3. The gateway is liable for transferring funds collected from users to the broker’s merchant account.

  4. The forex payment gateway service charges a fixed fee that will be deducted from every transaction before depositing the funds in your merchant account.

  5. The Forex payment gateway service helps brokers to quickly withdraw their profits and funds from their own forex account.
  • Why is it tough to Find a Reliable Payment Gateway?

Forex trading is commonly considered a high-risk business. Thus, payment gateways have various concerns about working with merchants operating within this industry. 

If you try to open a new merchant account on traditional payment gateways, there are chances that your application might get rejected.

The reason behind this is forex businesses experience massive rates of transactions daily, which drive up the chargeback rates. 

Hence, traditional payment gateways find it risky to collaborate with merchants, and the application gets rejected. 

The solution to this problem is that brokers can open a merchant account with a reliable payment gateway like MOBI. Mobi Payment Gateway is designed explicitly for high-risk industries. 

  • What should Forex Brokers Consider While Selecting a Payment Gateway?

Do not just select a payment gateway because they are willing to open your merchant account. Here are some aspects to consider while picking a payment gateway for your forex trading:

1. Speed:

To earn maximum profit in the forex market — you need to act fast — grab the right opportunity to make a profit through currency transactions. Therefore, brokers should consider opening their merchant accounts with a quick processing payment gateway.

2. Currency Exchange: 

You can earn profit in forex trading through low price spreads and lower trading fees. A cost-efficient payment processing service is essential to keep your business moving and profitable. Hence always select a low-priced and efficient payment gateway.

3. Diverse Payment Options:

Payment gateways should offer different payment options to allow the exchanges clients to have a wide range of choices. The main local payment methods should be offered to optimize the transaction process for the merchant’s clients.

4. Dominant information security:

Your payment gateway should guarantee encrypted payment processing. And also adherence to the highest security, anti-fraud, and anti-money laundering security standards like PCI compliance.

5. Pay-out Speed:

A quick payout method for clients should be your utmost priority when it comes to the Forex Industry. Clients prefer to have the peace of mind when transacting in and out of an exchange, which makes a quick pay-out method equally as important as a quick pay-in.

  • Why Choose Mobi? 

Mobi is the leading payment platform that provides easy-to-use payment methods for businesses of all sizes to their customers. Mobi payment gateway offers multiple payment modes for brokers and investors to fund and withdraw money from their accounts.

Benefits of having Mobi Payment Gateway: 

  • Instant bank transfers
  • Options of payment redirect or direct gateway 
  • Highly secured payment portal
  • Smart interface and high usability
  • Pay-out in under 20 minutes

Forex Trading Made Simple With Mobi Payment Gateway, a currency exchange solution.

Let’s get started –

Contact our Mobi team now

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Mobi (formerly known as Mobiversa) was established in 2014 to provide new-age, secure, innovative payment gateway solutions in Malaysia for big and small businesses. Having started with an eWallet Payment Gateway, we are now focusing on B2B payments for online transactions.

Our cutting-edge payment solutions create value for businesses of all sizes by providing easy-to-use payment methods to their customers. Also, we are the first Cashless Payment System In Malaysia to introduce next-day settlements.

Having started in Malaysia, we now have our innovation center in India as well. We also have a strategic office in Singapore to fuel our growth in the rest of Southeast Asia’s eCommerce Payment Gateway industry. Currently, we are expanding our services into Indonesia.

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