Forex broker that accepts crypto deposits and withdrawals

Broker Discussion
1

Hello everyone!

I am looking for a forex broker that has crypto deposits and withdrawals options, does anyone have any recommendations? Asking for a friend

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Welcome to the forum!

Naturally. Of course.

Sorry not to have one to recommend to you.

I hope you appreciate that even though you want (sorry - “your friend wants”) to deposit and withdraw by crypto, it’s really important to check first that the broker CAN also take credit-card deposits.

The reason’s pretty obvious: every decent broker naturally wants and needs to be able to take credit-card deposits as that’s how so many of their customers want to deposit. If a broker can’t accept credit-card deposits, the ONLY reason for that is that Visa and MasterCard (who carefully investigate businesses’ financial probity) won’t do business with them. And if they won’t do business with them, why would you (sorry - “your friend”) want to? That wouldn’t make much sense on the “risk” front, would it?

Many of the broker disaster stories so often reported in trading forums could have been avoided just by understanding this simple point.

I’m sure you already knew this, yourself, but mentioning it to your friend will help him. And mentioning it here may help others who read the thread. :slight_smile:

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Hello and thank you for your welcome! I appreciate your input, and I could have worded myself better. I would want my broker to also accept debit/credit cards but also have the option for crypto deposits and withdrawals due to where I live, crypto makes it easier for me. The “asking for a friend” part was just a phrase, didn’t actually mean it literally :laughing:

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I wasn’t quite sure! :sweat_smile:

Possibly Global Prime or Pepperstone might be good for you? Or FP Markets (not certain about their regulation, though).

Possibly Fusion Markets, which is ok (but only if your account’s ASIC-regulated, not in Vanuatu!!).

The obvious ones to avoid in this context are FXCM, Eightcap and Tickmill. And InstaForex.

I understand your situation, but whatever you do, don’t let the need for crypto deposits and withdrawals lead to a compromise over where your account’s regulated: that would be a recipe for potential disaster. Especially using cyrpto! :open_mouth:

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Nice, thanks again for your reply, will look into these. I am in the Dutch Caribbean region, my bad for not mentioning it earlier :sweat_smile:

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