10 Best UnionPay Forex Brokers

UnionPay Forex Brokers use UnionPay International (UPI), or China UnionPay (CUP), which is a payment service provider available to and popular amongst online day trading brokers. Choose your quick section of our best UnionPay Forex Brokers below.

Our 10 Best Handpicked UnionPay Forex Brokers Revealed:

• ✔️FXPrimus
• ✔️Forex Time (FXTM)
• ✔️eToro
• XM Group
• Pepperstone
• FXPro
• IC Markets
• EasyMarkets
• FP Markets
• Roboforex

The UnionPay payment service offers multiple trading rewards and online shopping benefits. Here is an overview of the 10 Best UnionPay Forex Brokers and Trading Platforms.

   

🏆10 Best Forex Brokers in South Africa

FXPrimus

  FXPrimus is an online broker founded in 2009 offering Forex trading, and Social Trading, and is global broker with a head office in Cyprus. FXPrimus is regulated by the Cyprus Securities and Exchange Commission (CySEC), The markets in financial instruments directive (MiFID).  

Pros and Cons

 

Pros	Cons
Segregates client funds	Limited range of instruments
Established in 2009	Not FCA Regulated
Regulated by CySEC, MiFID
Min. deposit from $100

  FXPrimus has won numerous industry awards over the 11 years a wide variety of instruments and trading currency pairs.  FXPrimus offers over 125 different instruments to trade, including over 43 currency pairs.  

Trading Benefits

 

Trading Features	Accounts offered	Funding methods
Allows scalping	Demo account	Credit cards
Allows hedging	Micro account	Bank Transfer
Offers STP	Mini account	Payoneer
Low min deposit	Standard account	Neteller
	ECN account
	Managed account
	Islamic account

  Customer Support is available via email, webform, phone and live chat.    

Forex Time (FXTM)

  FXTM or ForexTime was founded in 2011 and is a registered brand name of Exinity Limited, regulated by the Financial Services Commission of Mauritius with license number C113012295.  FXTM offers users seven different accounts types where the execution method, range of markets, available platform, and commissions and fees may vary.  Three accounts are offered under the Standard category.  Forex Time (FXTM) is a MetaTrader broker which offers forex and CFD traders multiple account options for both MT4 and MT5 platforms.  

Pros and Cons

 

Pros	Cons
Segregates client funds	Limited range of instruments
Established in 2011	Not ASIC Regulated
Regulated by CySEC
Min. deposit from $10

  FXTM provides research in the form of daily technical and fundamental news analysis provided by an in-house team of analysts.  

Trading Benefits

 

Trading Features	Accounts offered	Funding methods
Allows scalping	Demo account	Credit cards
Allows hedging	Micro account	Bank Transfer
Offers STP	Mini account	Payoneer
Low min deposit	Standard account	Neteller
Offers Negative Balance Protection	Zero spread account
	ECN account
	Islamic account

  Customer Service is available via phone, email, online chat options – WhatsApp, live chat, Viber, Telegram or Messenger.    

eToro

  eToro is an online broker which was founded in 2006 and offers CFDs and Social Trading, with a head office based in Cyprus, UK.  eToro is supervised by the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) regulatory bodies and has been in operation for over 14 years.  

Pros and Cons

 

Pros	Cons
Used by 6,000,000+ traders	Doesn’t allow scalping
Established in 2006	Inactivity Fee
Regulated by Financial Conduct Authority, CySEC, ASIC	Limited range of instruments
Min. deposit from $200

   eToro offers traders two ways to trade: CFDs, Social Trading and eToro traders will need to make a minimum deposit of $200 and the platform can accommodate various levels of traders from beginner to expert.  Traders can trade in a wide variety of over 100 instruments and over 50 currency pairs on eToro’s user-friendly custom trading platform which is available as a browser-based web application. eToro also offers traders mobile apps for Android and iOS, making it easier to keep an eye on and execute trades.  

Trading Benefits

 

Trading Features:	Accounts offered:	Funding methods:
Offers STP	Demo account	Credit cards
Low min deposit	Micro account	Bank Transfer
	Mini account	PayPal
	Standard account	Skrill
	Islamic account	Payoneer
		Neteller

  eToro supports a wide range of languages including English, German, Spanish, French, and Italian.  24/6 customer support is available via telephone and support ticket.    

XM Group

  XM Group (XM) is a group of regulated online brokers regulated by the Cyprus Securities and Exchange Commission.  

Pros and Cons

 

Pros	Cons
Low stock CFD and withdrawal fees	Limited product portfolio
Easy and fast account opening	Average forex and stock index CFD fees
Great educational tools	No investor protection for non-EU clients

  XM offers traders more than 1000 financial instruments to trade on both the MT4 and MT5 platforms, including Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs and Energies CFDs.  Forex trading is available on over 55 pairs, including the major USD, GBP, EUR and JPY pairs.  Traders must take note that XM does not offer binary options or futures.  

Trading Benefits

 

Trading Features	Accounts Offered	Funding Methods
Negative Balance Protection	Micro	Wire Transfer
Low Spreads	Standard	Credit/Debit
Low Commission	XM Zero	Neteller
Hedging Allowed		UnionPay
Scalping Allowed		WebMoney
		Qiwi

  Customer Service is available via live chat, Phone and email support.    

Pepperstone

  Pepperstone was founded in 2010 and is regulated by the Australian Securities and Investments Commission (ASIC), as well as the UK’s Financial Conduct Authority (FCA).  

Pros and Cons

 

Pros	Cons
Segregates client funds	Limited range of instruments
Established in 2010
Min. deposit from $200

  Trading platforms on offer include MetaTrader 4,  MetaTrader 5 and cTrader. All three FX trading platforms come with a free demo account which will allow traders to test out the forex broker and platform for 30 days.  

Trading Benefits

 

Trading Features:	Accounts offered:	Funding methods:
Allows scalping	Demo account	Credit cards
Allows hedging	Mini account	Bank Transfer
Offers STP	Standard account	PayPal
Low min deposit	MAM/PAMM account	Skrill
Offers Negative Balance Protection	Islamic account	Payoneer
		Neteller

  Pepperstone offers 24/5 multiple language support via email, phone and live chat.    

FXPro

  FXPro is an online broker which was founded in 2006 and offers Forex, Share Dealing, Spot Indices, Futures, Spot Metals and Spot Energies trading.  FXPro is a global broker with a head office located in the UK. FXPro is regulated by CySEC and operates under the CIF license number 078/07. As a CySEC regulated broker, FXPro is also a member of the Investor Compensation Fund scheme.  FXPro provides traders with access to top-tier liquidity and advanced trade execution with no dealing desk intervention and a starting account will need a minimum deposit of $100.  

Pros and Cons

 

Pros	Cons
Easy Account Opening	Only CFDs and Forex
Excellent Customer Service	High Trading Fees
Free Deposit and Withdrawal	Inactivity Fee

   With FXPro, the minimum and maximum trade requirements vary depending on the trader and the instrument chosen.  

Trading Benefits

 

Trading Features	Accounts offered	Funding methods
Allows scalping	Micro account	Credit cards
Allows hedging	Mini account	Bank Transfer
Low min deposit	Standard account	PayPal
Negative Balance Protection	Islamic account	Payoneer
		Neteller

  FXPro offers customer support 24 hours a day, 5 days a week via Live Chat, Telephone and Email in a variety of different languages including English, Spanish, French, Polish, Malay, Arabic, Chinese, Greek, Hungarian, Japanese, Korean, Russian, Thai, Vietnamese, Indonesian and others.    

IC Markets

  IC Markets is a regulated Forex ECN and CFD broker which offers more than 236+ financial instruments across Forex, Commodities, Indices, Bonds, Cryptocurrency, Stocks and Futures on the MetaTrader 4, MetaTrader 5 and cTrader platforms for desktop, web and mobile.  IC Markets is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), as well as the Seychelles Financial Services Authority (FSA).  

Pros and Cons

 

Pros	Cons
Segregates client funds	Limited range of instruments
Established in 2007	Not FCA Regulated
Regulated by ASIC
Min. deposit from $200

  IC Markets offers traders three main types of live trading accounts to choose from, including  Raw Islamic swap-free accounts and the use of a free demo trading account.  

Trading Benefits

 

Trading Features	Accounts offered	Funding methods
Allows scalping	Demo account	Credit cards
Allows hedging	Mini account	Bank Transfer
Offers STP	Standard account	PayPal
Low min deposit	Zero spread account	Skrill
	ECN account	Neteller
	Islamic account

  Customer support is available 24/7 via Live Chat, Phone and Email.    

EasyMarkets

  EasyMarkets is one of the most popular choices for Beginners and is regulated by CySEC (Cyprus) and ASIC (Australia) and offers beginner forex traders:

• Enhanced risk management tools as standard
• Fixed spreads on all forex pairings
• An easy-to-use forex trading platform

 

Pros and Cons

 

Pros	Cons
Segregates client funds	Doesn’t offer VPS
Established in 2003	Limited range of instruments
Regulated by CySEC and ASIC	Not FCA Regulated
Min. deposit from $1

   The available trading platforms offered are MT4 and the EasyMarkets web platform.  

Trading Benefits

 

Trading Features	Accounts offered	Funding methods
Allows scalping	Demo account	Credit cards
Allows hedging	Micro account	Bank Transfer
Low min deposit	Mini account	Payoneer
Guaranteed stop loss	Standard account	Neteller
Offers Negative Balance Protection	Islamic account

   Customer Support is available 24/5 via  various chat channels, email, phone and web forms.    

FP Markets

  FP Markets is a global, online broker regulated by the Australian ASIC and the Cypriot CySEC which was founded in 2005 and offer Forex trading and has a head office situated in Australia. When starting off with FP Markets traders will need to make a minimum deposit of $100 and a demo account is on offer with a wide variety of instruments and currency pairs on offer. Over 100 instruments and over 60 currency pairs in total are on offer, on the popular MT4 forex trading platform.  FP Markets also offers traders mobile apps for Android and iOS.  

Pros and Cons

 

Pros	Cons
Low Forex Fees	High Stock CFD fees
Easy Account Opening	Limited Product Portfolio
Quick Deposit and Withdrawal	Outdated Platform

 

Trading Benefits

Trading Benefits	Accounts Offered	Funding Methods
Allows scalping	Mini	Bank Transfer
Allows hedging	Standard	Credit/Debit
Offers STP	ECN	Electronic Wallets
Low min deposit	STP
Offers Negative Balance Protection	Managed

  All accounts support a wide range of languages including English, Spanish, Portuguese, Romanian, Bulgarian, Arabic, Russian, French, Italian, Greek, Philippines, Latvian, Polish, Indonesian, Thai, Malay, German, Vietnamese. Customer Service is available via email, phone and live chat.    

Roboforex

  Roboforex are an online, global broker which was founded in 2009 and offers traders Forex and CFDs trading.  RoboForex is authorized and regulated by the International Financial Services Commission (IFSC) with license number IFSC/60/271/TS.  

Pros and Cons

 

Pros	Cons
Segregates client funds	Limited range of instruments
Established in 2009	Not FCA Regulated
Regulated by IFSC Belize
Min. deposit from $10

  When starting off with Roboforex traders will need to make a minimum deposit of $1 and there is an option available for a demo account for those who would like to get acquainted with the platform.  Roboforex can accommodate various levels of traders, from experienced to beginner, and they can trade a wide variety of instruments and currency pairs.  Roboforex offers over 100 instruments and over 35 currency pairs in total.   Roboforex offers traders both of the MetaTrader platforms; MT4 and MT5 plus the cTrader platform developed for traders.   Roboforex also offer mobile apps for Android and iOS.  

Trading Benefits

 

Trading Benefits	Accounts Offered	Funding Methods
Allows scalping	Micro	Credit cards
Allows hedging	Mini	Bank Transfer
Offers STP	Standard	Payoneer
Low min deposit	Zero	Neteller
	ECN
	STP
	Islamic

  Customer support is available via phone, Webchat, WeChat, Skype, Viber, Telegram, Facebook chat, WhatsApp, email and a call-back request.  

Conclusion

For traders based in Asia, Russia or the US, a UnionPay card will offer security and convenience.  Unfortunately, UnionPay is still not widely accessible to consumers beyond the Asia-Pacific region.  

FAQs

 

What is a UnionPay card?

A UnionPay credit or debit card is issued to consumers who have a bank account with one of the participating banks.  

How is UnionPay used online?

UnionPay card holders can pay for goods or deposit into their trading account by using their debit or credit card number and details.  

How do users apply for a UnionPay card?

As long as an investor is eligible to open an account with one of the partnered banks, they will qualify for a UnionPay card by contacting their provider.  

Is UnionPay accepted in Europe?

Yes. UnionPay cards are commonly accepted in many European countries, including the UK, France, German, Spain and Italy.  

Where is UnionPay accepted?

UnionPay is accepted by brokers in over 178 countries across the globe.  

Is UnionPay safe?

Yes. UnionPay uses a state-of-the-art security systems to ensure customer safety.  

Is UnionPay free to use?

Many trading brokers offer fee-free payments via UnionPay, including IC Markets and Pepperstone.    

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