15 Best Western Union Forex Brokers

Choose your quick section of our best Western Union Forex Brokers below.

Our 10 Best Handpicked Western Union Forex Brokers Revealed:

• ✔️AvaTrade
• ✔️IQ Option
• ✔️Forex Time (FXTM)
• BlackBull Markets
• Forex.com
• Markets.com
• eToro
• OANDA
• HYCM
• Pepperstone

Western Union is a market leader and offers transactions in over 130 currencies with an infrastructure which supports billions of accounts.. Here is an overview of the Best Western Union Forex Brokers and Trading Platforms.

AvaTrade

AvaTrade is an online broker which was founded in 2006 and offers Forex, CFDs, Spread Betting and Social Trading and is a global broker with their head office situated in The British Virgin Islands. AvaTrade is regulated in Europe, the British Virgin Islands, Australia, Japan, and South Africa by ASIC, CySEC and FCA.

Pros and Cons

For those who are looking to start out with AvaTrade will need a minimum deposit of $250 and a demo account is available for those who want to get acquaint with the popular MT4 forex trading platform.  AvaTrade also offer mobile apps for Android and iOS.

Trading Benefits

Customer support is available by email, phone, or live chat.

IQ Option

IQ Option is a broker developed under the IQ Option Europe company which was founded in 2013. IQ Option contains a CySEC license Cyprus Securities and Exchange Commission from Cyprus, with permission to provide its financial services within the European Economic Area zone, with several licenses from other EU local jurisdictions. IQ Option offers its clients services in binary options, stocks and shares, currencies, and ETF trading.

Pros and Cons

IQ Option provides clients with a proprietary platform which is also used for CFDs and for binary options trading. Traders can also install the mobile trading app which is provided free of charge. The mobile trading app has been designed specifically for use on smartphones and mobile devices and allows traders to check their account status, keep updated with all the developments in the market as well as to execute trades.

Trading Benefits

The IQ Options trading platform and website are available to traders in thirteen different languages and allows traders to choose the currency to trade with. The selections of currencies are: GBP, RUB, EUR, IDR, USD, MUR, and Yuan. Customer service is available via email, live chat or the telephone.

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

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

Trading Benefits

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

BlackBull Markets

BlackBull Markets is a forex & CFD brokerage which is fully regulated by the New Zealand’s Financial Service Providers Register (FSPR). Trading instruments on offer include more than 20 foreign currency pairs, six major stock indices, and the popular commodities gold, silver, as well as WTI & Brent oil which can all be traded across either  the classic MetaTrader 4 (MT4) or the newer MetaTrader 5 (MT5) platforms.

Pros and Cons

Trading Benefits 

Customer support is available via phone or live chat, both of which are open 24 hours on all trading days.

Forex.com

Forex.com is a platform which can be used for trading foreign currencies and precious metals. Traders can trade over 80 currency pairs as well as silver and gold.

Pros and Cons

To open a live trading account, traders will need a minimum deposit of at least $50.

Trading Benefits

Customer support is available by phone, live chat, or email 24 hours a day during market hours.

Markets.com

Markets.com offers traders access to the world’s most traded CFDs using instruments such as shares, currencies, indices, bonds, ETFs and commodities.  Markets.com is regulated by the Cyprus Securities and Exchange Commission (CySEC).

Pros and Cons

To open a live account, traders will need to make a minimum deposit of at least $100.  Markets.com offers over 2,146 different instruments to trade, including over 56 currency pairs on MT4 and MT5 forex trading platforms.

Trading Benefits

Customer support is available in over 25 languages, 24/5 via email, telephone and live chat.

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

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

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.

OANDA

OANDA is a globally regulated Forex and CFD broker which also provides corporate Forex solutions and currency conversion. Users have the choice to trade on Forex, Indices, Metals, Commodities and Bond CFDs on the broker’s own proprietary trading platform for desktop, web and mobile, as well as on MetaTrader 4.

Pros and Cons

OANDA is the most Regulated Forex Broker and operate across six of the most credible authorities.

Trading Benefits

Customer support is available via a FAQ section, a OANDA Virtual Assistant and phone.

HYCM

HYCM is an online broker which was founded in 1977 and offers Forex and CFDs trading on the popular MT4 forex trading platform plus mobile apps for Android and iOS.

Pros and Cons

Traders starting off with HYCM will need to make a minimum deposit of at least $100 and have the choice to sign up for a demo account perfect for various levels of traders, experienced or novice. A wide variety of instruments and currency pairs are available for trade:

• Over 100 instruments
• Over 40 currency pairs

Trading Benefits

HYCM customer service is available through WhatsApp, Skype, Viber, Telegram Instant messaging services, Facebook Chat and Phone – 24/5.

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

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

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

City Index

City Index is a world leader in spread betting, FX and CFD Trading, regulated by the Financial Conduct Authority (FCA).  The City Index trading platform offers traders a range of customisation options, which includes 16 chart types with 65+ indicators specifically designed for investors to perform technical analysis.

Pros and Cons

To open a live trading account, traders will need a minimum deposit of at least $25.  City Index offers over 12,500 different instruments to trade, including over 84 currency pairs on the ever-popular MetaTrader4 trading platform.

Trading Benefits

Multilingual Customer support is available by email, phone, or live chat.

FBS

FBS is a Forex and CFD broker which is authorised and regulated by the International Financial Services Commission (IFSC) of Belize and the Cyprus Securities and Exchange Commission (CySEC).

Pros and Cons

FBS offers users the option to trade on Forex, Indices, Stocks, Metals and Energies across the MetaTrader 4, MetaTrader 5 and FBS Trader trading platforms .

Trading Benefits

Customer Support is available 24/7 via a Call-back service, online Live Chat, Telegram, Viber and Facebook Messenger.

XM Group

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

Pros and Cons

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

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

HotForex

HotForex was established in 2007 is well regulated by FCA, CySEC, DFSA, FSCA and SFSA.

Pros and Cons

The HotForex MT5 terminal offers 21 different timeframes, superior analysis tools, trading across HotForex asset classes, close to 100 simultaneous charts, hedging and one-click trading and 80+ technical indicators plus an in-built economic calendar.  The account can be accessed from anywhere using an iPhone, interactive charts for 9 timeframes, advanced trading functions, one-click trading, 24 analytical objects, and 30 technical indicators.

Trading Benefits

Customer support is available via 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

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

Trading Benefits

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

Conclusion

Western Union is not a common payment method on offer from forex brokers but a selection of firms will still choose to do so.  Western Union uses upgraded security standards to protect its users and those who choose to make use of the company is known to be in safe hands.

FAQs

Is Western Union more secure than PayPal?

Western Union does have a long-standing history as a secure company, and it still continues to keep up its secure reputation.

What are Western Union’s fees?

Western Unions fees are low in comparison to its competitors, and ranges between 0-2.5%.

How secure is a Western Union account?

Western Union makes use of state-of-the-art security protocols, including Strong Customer Authentication (SCA).

Why don’t all Forex brokers offer Western Union?

There is no one definitive reason and is up to the Brokerage firm.

What is a Western Union Forex broker?

A Western Union broker simply refers to a brokerage firm which trades in forex and accepts transactions from Western Union.

How are deposits made into a Western Union account?

To deposit onto the Western Union platform, clients will be required to link a credit/debit card or bank account to their account. Once this has been verified, clients can continue with their chosen deposit amount.

What is the speed of a Western Union deposit?

Speed will vary and two options are made available.