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Are you still looking for a safe and trustworthy channel to fund your broker account? If you are tired of looking then we have a perfect solution for you. Western Union is one of the most popular e-payment systems used by forex brokers to fund their accounts. Western Union is also one of the oldest payment processors in the area of e-payment and broker accounts. 

No matter wherever you are, if Western Union is available in that area then you can send or receive money anywhere you want. This system enables the customers to transfer money to international destinations through Western Union’s online payment portal. This means the client or the brokerage firm can work around these services from anywhere in the world.  

This guide will help you identify 10 forex brokers who offer funding through Western Union. This will further compare the best Western Union forex brokers and give you an overview of how Western Union works and how users can start trading through these brokers funded by Western Union. 

Best Western Union Forex Brokers 2021 List

A list has been compiled for the users to understand, analyze and decide which of the FX brokers are the most suitable ones for their needs. Here is the list of the best Western Union forex brokers: 

  • eToro – Overall Best Western Union Forex Broker
  • Capital.com – Best Western Union Forex Broker with excellent customer service
  • Avatrade – Best Western Union Forex Broker with $100 minimum deposit
  • VantageFX – Best Western Union Forex Broker with no withdrawal fee
  • Pepperstone – Best Western Union Forex Broker with low spreads
  • XM – Best Western Union Forex Broker for free deposit and withdrawals
  • FXTM – Best Western Union Forex Broker with amazing educational tools
  • Hotforex – Best Western Union Forex Broker with easy to use platform
  • FP Market Best Western Union Forex Broker for different financial instruments

Top Western Union Forex Brokers Reviewed

All the brokers listed above are the most popular and highly preferred all around the world. The advanced features and enhanced services of some of the top brokers make them better than the ones at the end of the list. This guide will be reviewing the top 5 Western Union forex brokers and will help you with in-depth analysis. 

1. eToro – Overall Best Western Union Forex Broker

etoro logo

EToro has become one of the world’s biggest and most popular social trading platforms. It was founded in 2007 but it launched its WebTrader platform in 2009 that allows users to trade their financial assets online. The main highlight of this forex broker is that eToro enables users to trade and invest in the top financial instruments that include a vast range of stocks.

As mentioned above, eToro provides you a wide range of tradable assets Some of the assets that an eToro user can trade in are: 

  • The stock market, currency CFDs, and commodities
  • US stocks listed on NYSE and NASDAQ 
  • Cryptocurrencies including Dogecoin, Bitcoin and Ethereum, etc
  • Fractional shares in companies

EToro is authorized and regulated by several platforms like ASIC, FCA, and CySec. You don’t have to worry about the security and safety of your funds because funds are protected by industry-leading security protocols. EToro does have some requirements before you start trading. The first thing that you need to do is deposit USD50-200 in your funding account. So, from your Western Union account, you can deposit the money into eToro, and then you can start trading. For this method, eToro will charge you a currency conversion fee of 1%. Once the money is in eToro, you can start trading.

Pros

Cons

  • A withdrawal fee of $5
  • The trading account operates in USD only

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

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

capital.com reviewCapital.com is a fintech company that has an AI-enabled trading platform. This feature makes it super-advanced and easy to use. This provides access to 3,000 global markets where traders can trade. These markets include commodities, cryptocurrencies, and CFDs. The AI feature makes the entire platform bespoke. Rather than giving a generic plan to all the users, this platform tailors the plan according to the needs and goals of the users.  

Capital.com also has a wide range of tradable assets that the traders can avail themselves of. The list includes: 

  • 64 Commodities 3,118 Stocks 
  • 85 Cryptocurrencies 
  • 171 Currency pairs 
  • 33 Indices

This shows that Capital.com is one of the top forex brokers because it offers cryptocurrency pairs that allow you to trade various digital currencies. This helps the traders on a huge scale and that’s why Capital.com is home to almost 2 million traders. 

Capital.com ensures security and legitimacy and keeps these things as its priority. The operations at Capital.com are monitored and reviewed by third-party companies. Capital.com also has a policy of compensation in case anything happens to the money of traders. 

Pros

  • Excellent account opening experience 
  • Great customer care 
  • Low forex and stock CFD fees 

Cons

  • Smaller account currencies not available

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

3. Avatrade – Best Western Union Forex Broker with $100 minimum deposit

avatrade brokerThis platform was founded in 2006 as a privately owned online forex and CFD broker. AvaTrade is popular for empowering new and undercapitalized traders as well as providing innovation in the trading process. Just like other brokers, AvaTrade also offers a range of tradable instruments that include: 

  • Commodities 
  • Stocks 
  • Forex 
  • Indices 
  • Cryptocurrencies 

This wide selection is available for manual and automated trading and that too on a variety of device types. The requirement for opening the account is as few as 100 units of the base currency. you will be charged a $50 fee for three months of inactivity. They further charge $100 if the inactivity has prolonged for a year. There is now a withdrawal or deposit fee that AvaTrade charges. So, you can use your Western Union account to deposit the 100 units of the base currency.  

This is not just a brokerage platform but also provides educational material to aware and educate the user. Moreover, the experts provide users with research-backed analysis to help them evaluate and make decisions. The minimum deposit that you can take from your Western Union account is $200. After this, you can start your trading and build your portfolio. This platform is regulated by ASIC. Vantage FX charges an inactivity fee, withdrawal fee according to your payment method, and deposit fee. 

Pros

  • Quick account opening procedure 
  • Demo account 
  • A diverse range of tradable assets 

Cons

  • Charges an extra fee for inactivity, withdrawal, and deposit
  • Not regulated by FCA

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

What is Western Union?

Western Union is a company that helps in money transfers and provides other payment services. This platform helps individuals as well businesses to freely move money. Western  Union is accessible in over 200 countries and territories. This company has 150 million retail and digital customers all over the world. They have payout options available in billions of bank accounts and wallets around the globe. Moreover, Western Union also has 500,000+ agent locations in the world. 

This platform aims to connect people through technology and help them move their money freely without any restrictions. Western Union offers a wide range of options to transfer and receive money. It helps you with investing and trading too. The company keeps your funds safe and secure during the entire process. 

Why Choose a Western Union Broker?

Time and again Western Union has proved its worth in front of its users and that is the reason it is popular among traders. The services offered by Western Union are easy to use for individuals as well businesses. It is also strict in terms of the security of money. Let’s look at some of the major reasons why users opt for Western Union Broker. 

Reliability

The most important thing is that Western Union has established its name all over the world. It is popular and well-known. People have used the services of this platform to normally transfer money and the high quality of service has made this platform reputable. You don’t have to stress over scams and other problems people face in transferring money as well as use funds for trading. 

There are no membership or subscription requirements so you won’t have to face any sort of hassle. You don’t even have to open an account in Western Union. Despite all the ease, it is a very reliable and trustworthy platform. You can convert money in the currency of your preference from dollars with a good exchange rate. 

Fast Money Pick-up

The transferring period is short and the money is transferred very quickly. Either on your app or if you wish you collect it by visiting the office physically. Your emergency funds are available quickly because the transferring and withdrawal procedure is fast and efficient. 

If you are making an e-payment for trading and you have to deposit the money in your account through Western Union then it will be quick and efficient. You should prefer Western Union over other platforms because there is no lengthy process when it comes to making an e-payment, receiving, or sending money. If you wish to go and collect your money then what you need to do is show your proof of identification and give some extra details. That’s all you require and then you can have your money without any further documentation or hassle. 

Anonymity

Keeping your personal information safe should be your first and foremost priority. Western Union helps you with that. Through this platform, you are not obliged to disclose your bank data with the brokers. Many other e-wallets provide the same privacy but Western Union is trusted with a lot of experience in keeping the private information of the traders safe. 

Many traders speak very highly of Western Union because they feel secure and safe with this platform. They have a strict policy of keeping the data safe. 

How to Use Western Union to Trade Forex

Step 1: Sign Up With eToro

Visit eToro’s website and click on the “Join Now” button. The platform will ask you to enter your username, valid email, and a strong password, and once you acknowledge and accept the terms and conditions, your account will be made. 

etoro sign up

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

Step 2: Account Verification

You will have to verify your account by uploading proof of your ID and address. It will just take a couple of minutes to verify. 

Step 3: Make A Deposit With Western Union

The next step is to add Western Union as your payment method and deposit the money. Go to the “Fund My Account” option and 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 Western Union as your payment method.

Step 4: Start Trading Forex

After all this, you will be able to start trading through eToro and use Western Union to fund your trading account. 

etoro forex trading

Conclusion

Western Union is one of the oldest payment solutions and it has become popular with time because of the services this platform offers. It is a simple and secure way to fund your forex broker account and use it for trading. Western Union is a decent solution for your forex trading and funding requirements. 

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

FAQs

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