What is a Forex Merchant Account?

Forex is short for Foreign Exchange. Forex is a global over-the-counter market through which foreign currencies are bought, sold, traded and speculated. Forex is the largest and most liquid trading market in the world. Forex merchant accounts are established for Forex traders, Forex trading platforms as well as for informational Forex services. Forex credit card processing accounts solutions give you the ability to accept debit and credit cards from traders.

The foreign exchange market is the largest and most liquid financial market in the world, with over $5 trillion traded daily. These ‘Over The Counter’ (OTC) transactions are performed online among traders around the world, 24 hours a day, and five days per week. Since there is no centralised foreign exchange market, all currency trading is done electronically. Forex payment processing companies have faced increased scrutiny, making forex merchant account services a high-risk industry. This has created difficulty for merchants to find stable FOREX MERCHANT ACCOUNT providers. — For this reason, iPayTotal has a unique solution to help Forex brokers set up a high-risk merchant Forex account.

Brokerages with real-time forex payment processing solutions for the debit and credit card networks, including Visa, MasterCard, American Express, JCB, and China UnionPay. Most payment processors only offer Visa and MasterCard; however, China UnionPay is a growing card brand. With three out of 10 cards throughout the world branded as CUP, accepting China UnionPay will only help brokerages succeed in Asia.

Most forex businesses are plagued with the problem of too much volume. With flexible volume caps, Forex merchants will be able to process transactions without the issue of exceeding their processing monthly limits. It is common practice for payment processors to limit the monthly volume of a forex business in order to hedge their risk. This is a safe move for banks, but it is crippling to the brokerage. Forex brokerages that grow too fast are many times unable to handle all the transactions being submitted through their website. This problem can eventually damage a firm’s reputation and brand, which is why opting to have iPayTotal’s expertise and assistance in setting up a secure and flexible Forex trading account is pivotal for your business’s success.

Another aspect of Forex trading involves the multiple currencies used throughout the world. As an international business, forex brokerages must be able to accept multiple currencies in order to cater successfully to their clientele. — iPayTotal offers a processing platform that allows for easy payment in many currencies. Customers will expect their brokerages to offer to process transactions in real-time with instant approvals or declines in order to avoid any possible delays in account funding that could prevent access to the trading desk.

Customised Forex Trading Business Payment Processing Solutions

iPayTotal is an innovative Forex payment gateway and Forex Merchant Account provider that provides tools to transform, grow and scale your online business globally. We are recognised as the best payment solution with the essential back-end operations in place to support the Forex Trading businesses.

iPayTotal offers a complete set of solutions for Forex businesses to accept/make payments in a quick and convenient way. Forex businesses are high risk, which makes it difficult for business owners to set up a merchant account.

We integrate an extensive global network of banking relationships. At iPayTotal, we are an extension for Forex companies, working closely with them to provide a wide variety of high-risk forex payment processing requirements, taking care of every step to simplify, streamline and strengthen your online business and back-end operations.

Historically, this has increased client revenues by up to 30-40% due to the increase in approved Forex trading transactions.