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If you are still searching for a secure and trusted way to fund your broker account then MoneyGram is the best e-payment system. Forex brokers have highly recommended this system.  MoneyGram is a global money transfer service that helps your money automatically arrive in your account. MoneyGram aims to get your money where you need it. Through this, you can send money, receive money, pay bills, top up your mobile, load prepaid cards, and send money orders. You can avail all options in one. We will be talking about the best MoneyGram forex brokers in this article. 

This guide has listed 10 forex brokers who offer funding through MoneyGram. We have also reviewed a few of these brokers for better understanding. This guide will explain the entire process of depositing the money and starting your forex trading with these brokers. 

Best MoneyGram Forex Brokers 2021 List 

Are you searching for the best MoneyGram forex brokers? Are you unable to find anything satisfying? Here we are with the list of best MoneyGram forex brokers 2021. This list will help you find the best-suited FX broker you have been looking for. 

  • eToro – Overall Best MoneyGram Forex Broker
  • Capital.com – Best MoneyGram Forex Broker with excellent customer service
  • Avatrade – Best MoneyGram Forex Broker with $100 minimum deposit
  • VantageFX – Best MoneyGram Forex Broker with no withdrawal fee
  • Pepperstone – Best MoneyGram Forex Broker with low spreads
  • Skilling – Best MoneyGram Forex Broker for different financial instruments
  • Plus500 – Best MoneyGram Forex Broker with easy to use platform
  • IG – Best MoneyGram Forex Broker with amazing educational tools
  • XTB – Best MoneyGram Forex Broker for free deposit and withdrawals

Top Forex MoneyGram Forex Brokers Reviewed

The brokers listed above are all top class but there is a better lot in this list. Some of the top forex MoneyGram brokers are preferred by the traders because of their advanced features and variety of options. We have reviewed the top four brokers that are the most popular ones among these to help you decide the most suited one for your needs.  

1. eToro – Overall Best MoneyGram Forex Broker

etoro logo

It was founded in 2007 and is considered an easy-to-use trading platform. This platform has remarkable social copy trading and crypto trading. eToro is popular for its usability as a multi-asset broker and makes the entire experience smooth and comfortable. eToro also allows you to choose between CFDs and trading the underlying asset directly from the trade-ticket window. 

There is another tool that makes eToro popular and that is the tool of CopyPortfolios. In this tool, the traders are grouped into a single fund where they can copy trade. This is a way to bridge the gap for investors who want to use eToro on a passive basis. 

If we move on to the research and analysis tools, eToro has gained popularity in this area too. eToro has proved its worth by doing an excellent job collaborating fundamental analysis into the platform for the basic reason of shares trading. eToro has some research tools that include earnings reports calendar, economic calendar, news headlines, podcasts, and daily market analysis series. These features increase the overall worth of this platform. The minimum deposit required in eToro is $50-$200. 

Pros 

  • User Friendly
  • Ability to choose leverage 
  • Allows Copy Trading 
  • No commission on forex trading 

Cons

  • A withdrawal fee of $5
  • Lack of more advanced order placement controls 

67% of retail investors lose money trading CFDs at this site

2. Capital.com – Best MoneyGram Forex Broker with excellent customer service

capital.com reviewThis platform was founded in 2016 as a global CFD and forex broker. This is regulated and authorized by the UK’s Financial Conduct Authority (FCA). The safety of this platform is ensured because it is regulated by the top-tier FCA. 

The trading fees class is low for capital.com and there is no inactivity fee charged by this platform. This feature gives a free hand to the user to use this platform and not feel any sort of liability on them. Another thing that makes this platform popular is the minimum fee requirement. The minimum deposit is $20 which is very low as compared to many competitors. 

Capital.com also has the feature of depositing money with a bank card or with an electronic wallet. They also provide a demo account for their new users or potential users who want to have an idea about this service. The entire account opening process is simple and easy which makes it user-friendly. 

Pros

  • Low forex fees 
  • Excellent customer care 
  • Smooth account opening experience 
  • Low minimum deposit 

Cons 

  • No price alerts on the web platform

67.7% of retail investor accounts lose money when trading CFDs with this provider

3. VantageFX – Best MoneyGram Forex Broker with no withdrawal fee

vantagefx logoVantage FX is considered a safe platform for trading forex and CFD because it has regulatory status in two tier-1 jurisdictions one tier-3 jurisdiction. There is a difference between the entities of different locations of Vantage FX. The Australian entity offers 225 instruments whereas the Cayman Islands brand offers 299. 

Trading cryptocurrency is also available on this platform. Vantage FX is a MetaTrader broker which offers a full suite of desktop and web applications. Moreover, Vantage FX also has the option of three platforms for social copy-trading. The three platforms include Myfxbook, ZuluTrade, and DupliTrade. 

Furthermore, the minimum deposit required for Vantage FX is $200. And it also has the option of depositing through a bank account and e-wallet. 

Pros

  • Low fees
  • Smooth deposit and withdrawal 
  • Fast account opening process 
  • No inactivity fee

Cons 

  • Limited product selection
  • Investor protection in the UK

Your capital is at risk when trading financial instruments at this provider

4. Avatrade – Best MoneyGram Forex Broker with $100 minimum deposit

avatrade brokerAvaTrade was founded in 2006 and is considered a safe broker for forex and CFDs trading. It is pretty safe because it has an overall trust score of 93 out of 99. AvaTrade has shown a significant increase in its popularity because of its enhanced copy trading offerings. Moreover, AvaTrade has also won an award for #1 innovation with the evolution of this new platform. 

AvaTrade aims to educate the users and for that purpose, there are nearly 60 articles in the beginner section. 29 articles are available for advanced topics. They educate users about the economy and keep them aware regarding financial news and major announcements. They also use videos to keep people engaged and make them learn. AvaTrade has at least 48 videos with good coverage of vast topics. Everything is available on their YouTube channel.  

Pros

  • Great educational tools
  • Free deposit and withdrawal options 
  • Smooth account opening process 

Cons 

  • High inactivity fees
  • Average forex fees

71% of retail investor accounts lose money when trading CFDs with this provider

What is MoneyGram?

MoneyGram is a money transfer method that has garnered a positive reputation in a short span. It is based on different agents in different cities that handle money. Some brokers accept MoneyGram to let users make payments through different locations. 

MoneyGram has a range of options for sending and receiving funds. One of the ways is through Forex Brokers. Forex brokers that are accepting MoneyGram benefit from all the services provided by MoneyGram. The company has worked hard to offer accurate information to the users to educate them and spread awareness. 

Why Choose a MoneyGram Broker?

MoneyGram is an easy-to-use money transfer method. MoneyGram has a very significant network because they claim to have a network of 350,000 agents that are around 200 countries.

The services offered by MoneyGram are best suited for developed economies although developing economies are also using their services. If you are thinking about using MoneyGram then this will help you understand why MoneyGram is one of the best options available. 

Quick Transfer

One of the aspects that make MoneyGram stand out is the time of transfer. The processing of international transfers is very quick. They do depend on factors like location, server, and whether you are sending the money online or in-person. 

In major cases, the in-person transfer service takes almost 10 minutes to reach the receiver. This is much faster than the other transfer methods available. Looking at online transfers, they are a bit slower than in-person transfers. Online transfers take a few hours in processing. Few hours in online transfers are still good because other methods might take longer. 

With quick transfers, the sender can also track their online transactions via MoneyGram. This aspect makes MoneyGram quick and more efficient. Moreover, MoneyGram forex rates are competitive.

Easy to Use App

MoneyGram has introduced a native mobile application that is available for Android and iOS users. The application is very easy to use with a friendly interface. The users of these apps have easy options to send funds, upload a transfer method, find the nearest MoneyGram agent, check details of previously sent transfers, and all other services offered by MoneyGram. 

All the services are available on the app which makes the entire process simpler and easier.  Moreover, the app also allows the users to pay bills online, send money orders, mobile top-up, and pre-paid card top-up. 

The app saves you from the hassle of going and doing all this work. The interface is also very friendly as everything is available in one touch and there are no technicalities involved. 

Security 

There have been many ambiguities regarding the safety of these transfer methods but MoneyGram has few protocols to ensure security. MoneyGram is authorized and regulated by the UK’s Financial Conduct Authority (FCA).

The money is secure with MoneyGram because the receiver is asked to provide a suitable form of ID. This ensures the safety of the money because only relevant people can withdraw the money without any scam or fraud. 

This gives the sender and the receiver the satisfaction that money is in safe hands and no fraudulent activities can take place. 

How to Use MoneyGram to Trade Forex

Step 1: Sign Up With eToro

You will have to open your browser and search eToro’s website, which is a Forex broker that accepts MoneyGram. Moving forward, click on the “Join Now” button. This will further move the process of account creation. You will be entering a username, valid email, and a strong password for your account. After this, you will have to accept and acknowledge all the terms and conditions and after this, you will click on Create Account. This process is done through a browser but you can do the same procedure through the eToro app. 

etoro sign up

67% of retail investors lose money trading CFDs at this site

Step 2: Account Verification

Once you have created your account, you will move on to the next step, which is to verify your account. That will happen by completing the required KYC checks. You will be required to upload your proof of ID and address. The approval verification will be done in a couple of minutes by eToro. 

Step 3: Make A Deposit With Moneygram

Now you have to move on to the next step which is depositing with MoneyGram. For that, you will go to the “Fund My Account” option available on eToro and then enter the amount that you wish to deposit. The minimum deposit in eToro is $200 for non-US traders and $50 for US traders. After entering the amount, you will choose MoneyGram as your payment method. Once you have done that, you will be redirected to the website of MoneyGramto further complete your funding process.

Step 4: Start Trading Forex

Now that you have added MoneyGram under your payment method and you are done with the deposit. Now you can use eToro web traders or the mobile app to get access to the Forex market. The next step is to find a currency pair that you wish to trade, you can now set up your orders and stop losses and click on “Open Trade”. 

etoro forex trading

Conclusion

MoneyGram has proved to be one of the best platforms for forex brokers to use for their trading. All the brokers mentioned above are using this platform for safe and secure trading. eToro takes the field of best brokers because of its usability and features. Safety is the main concern in this entire process and these brokers ensure safety through several tests and jurisdictions that are top tier. 

If you are planning to start forex trading and eToro is the best available option right now. They have the best features that ensure safety and smooth trading. 

67% of retail investors lose money trading CFDs at this site

What is a MoneyGram Forex broker?

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