The Forex industry is a nearly $100 Trillion a year global marketplace that offers traders the opportunity to take positions in nearly every marketplace. The combination of traders from allover the world and relatively loose regulations between economies, the demand for access to these markets has never been greater and the need for Forex merchant account providers is ever increasing.
Forex markets are operating 24 hours a day, 5 days a week - offering traders of all levels the ability to access and participate in the global exchanges. Forex trades at levels nearly 20 times that of the New York Stock Exchange, with such potential to make a fortune, it has created a growing demand among traders for news and information throughout the day from all corners of the world.
What is a Forex Merchant Account
A forex merchant account will allow for a brokerage to accept forex credit card payments from their traders. A merchant account is a link between the
Forex Merchant Account Services
Access to the Forex markets is not as difficult as it might appear, with trading platforms and agencies able to assist in the establishment of a licensed brokerage firm, merchants can become licensed in as little as a few months. While many countries are able to provide Forex licenses, it is also possible to open a brokerage without this documentation. Financial constraints can be a reason that some brokerage firms operate as an unlicensed firm, though possible, it can be a very risky proposition.
Being a firm that is unlicensed can create issues for not only the operators, but also puts the customers of that brokerage at risk for disruptions in their trading. Many banks will not provide banking services to a Forex brokerage if they are not able to provide proper licensing, forcing unlicensed brokerage firms to use offshore banks. Another issue that can effect an unlicensed brokerage is a halt to their Forex credit card processing services once a banking institution takes notice that the firm does not possess a license and decides to hold all funds and freeze the brokerage operations.
How a Forex Merchant Account works
A forex merchant account allows for brokerage firms to offer funding services for their traders. Providing a safe, secure and reliable connection to a bank, traders can confidently send payments to their trading accounts and accept settlements from their brokerage accounts when necessary.
The Benefits of Working with Island Payments
- Reliable Forex Merchant Account Services
- Affordable Forex Credit Card Processing Fees
- Fully PCI Compliant Forex Payment Gateway
For more information about setting up merchant account services with Island Payments, please contact one of our representatives for more information and to get started.