Did you know that worldwide there are approximately 2.5 million people who do not have a formal account at a financial institution? This analysis comes out of a report published by the World Bank that goes on to say, that while most of these people come from poor undeveloped countries, there is still a significant proportion that have money, but don’t use a formal bank. This is because they don’t trust their banking institutions or want to avoid costs and administrative hassles. With this profound payment barrier, we look at a number of alternative payment options that can bring these potential traders into the Forex industry. Bitcoin is the most revolutionary as it provided the first “cryptocurrency”. This peer-to-peer payment service operates without ties to central banks, gold standards or existing currencies. Using a highly sophisticated cryptographic security system, it is able to process transactions efficiently and inexpensively. Bitcoin holders can make and receive payments over the Bitcoin network without needing a credit card, let alone a bank issued debit card. Additionally it offers greater privacy and all at no cost. To participate you need to download a free Bitcoin digital wallet and access merchant resources at Bitcoin.org. PayPal is the largest singular alternative payment network. It is the 800 pound elephant in the online payment room, with 137 million active registered accounts, available in 193 markets and 26 currencies. By creating a Paypal account, traders can easily make and accept payments, while brokers can send invoices and receipts. More recently, it has the option to go mobile with its plug-in card reader. Price: 2.9% + $0.30 on each transaction Dwolla is a payment network that does not have any reliance on a credit card. Both private individuals and businesses are able to send, request and receive money over its network. In the absence of being able to connect to a bank account, you could connect via a transfer payment system like Western Union, where once loaded you can move money at exceptionally good rates. For brokers, it is a particularly easy option to set up, all you need to do is create a “Pay With Dwolla” CTA button on your website. Price: $0.25 per transaction, or free for transactions $10 or less. V.me and MasterPass, provided by Visa and Master Card respectivly, are great online payment tools that simplify the checkout experience. Once coded in a few lines on to your webpage, clients select the “Checkout with V.me” or “MasterPass” button and then go through the steps to process their payment with a registered username and password. Both of these online payment tools accept any major credit card or prepaid charge card. Price: Contact each one for their pricing arrangements Yael Warman Yael Warman Yael Warman is a creative writer with a strong background in marketing and advertising. Yael has been a writer for over 10 years and has worked for clients in various industries as well as her own companies and is currently the Content Manager at Leverate. View All Post By Yael Warman Basics & IndustryForex Industry share Read Next USD: ‘Something Special’ Happened; Staying Short EUR/USD – Deutsche Yohay Elam 6 years Did you know that worldwide there are approximately 2.5 million people who do not have a formal account at a financial institution? This analysis comes out of a report published by the World Bank that goes on to say, that while most of these people come from poor undeveloped countries, there is still a significant proportion that have money, but don't use a formal bank. This is because they don't trust their banking institutions or want to avoid costs and administrative hassles. With this profound payment barrier, we look at a number of alternative payment options that can bring these… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.