Updated on: August 25th, 2024
Western Union Forex Brokers
Western Union is a world-renowned money transfer platform used by businesses and individuals to move money across state lines. It is considered an instant money transfer system because the recipient can cash it in a matter of minutes after the transfer is confirmed. Due to its flexibility, many people prefer it when making payments or transferring money to and from online platforms, and the same is the case with Western Union Forex Brokers.
Updated on: August 25th, 2024
In This Guide
Top Western Union Forex Brokers For 2024
VFSC, CySEC
100% bonus
$100
500:1
ASIC, VFSC
N/A
$100
500:1
ASIC, CBI, BVI, FSCA, IIROC, FFAJ, JFSA, ADGM FRSA
up to 40% bonus
$100
400:1
CySec, ASIC, BVI
up to 50% bonus
$100
400:1
VFSC, FSC, IBFC
N/A
$5
1000:1
ASIC, VFSC
$10 000 demo
$50
500:1
FCA, ASIC, CIMA, SIBL
up to 50% bonus
$100
500:1
Best Western Union Forex Brokers Reviews
If you are a trader who prefers Western Union as a means of funding your account and making withdrawals, wouldn’t you want to know which brokers allow Western Union on their platform?
In this section, we review the best forex brokers that accept Western Union.
BDSwiss
BDSwiss is a broker that operates from Switzerland with its headquarters in Zurich. This broker has become an established and leading forex broker with a current client base of more than 1.5 million clients from more than 186 countries across different continents. This is a figure that only very few brokers can match.
But why do so many traders trust BDSwiss? This is simply because trading on the BDSwiss platform is relatively easy. They provide trading services across the globe and operate from different established offices in Berlin, Malaysia, Kosovo, Cyprus and Albania.
BDSwiss accepts Western Union as a means of funding your trading account. And with a fully funded account, you can trade major and minor currency pairs on the platform. Opening an account with them is easy, and they have a friendly and active customer service network. In terms of security, BDSWiss is safe and secure and is regulated by several regulators, including CySEC, FSA NFA.
- Highly regulated
- User-friendly trading tools
- Extensive educational tools
- Limited to only CFD and Forex trading
BlackBull Markets
BlackBull Markets is another forex broker that accepts Western Union money transfers from traders registered to their platform. Established in 2014, BlackBull has proven years of experience offering forex brokerage Services to traders around the globe.
BlackBull Markets offers different trading platforms like MetaTrader4 and MetaTrader5, including proprietary platforms like ZuluTrade and Myfxbook. Their trading software uses aggregated AI to help traders execute fast trades in line with their chosen strategies, and they also offer competitive pricing.
This is also one of the few Western Union forex brokers that offer retail trading across different regions from their offices in London and Malaysia. On their platform, you will have access to different trading solutions and programs. BlackBull Markets also has major, minor and exotic currency pairs for traders.
In terms of accounts, they offer different types of accounts, including MAM and PAMM Accounts for those who are interested. We also rate Blackbull highly because their platforms are quite flexible and work well with different trading strategies. They offer tight spreads and allow high leverage trading too.
- Fully regulated (FMA, FSA)
- Low spreads
- In-depth research tools
- No 24 hours support
Min $200 Deposit
Regulated By: FSA, FMA
Foundation Year: 2014
Headquarters: New Zealand
FP Markets
FP Markets is a broker with a positive track record and has remained so ever since its inception in 2005. Today, this broker serves thousands of clients around the world, and they offer access to global markets. This broker uses ECN electronic trading bridges to help traders access some of the top-performing Securities and currency pairs online.
FP Market is ranked high on trust and security. It is regulated by ASIC of Australia and CySEC of Cyprus. One major strong point of FP Markets is down to their proprietary technology, which grants access to liquidity markets no matter where you may be. Even if you are not located close to any of the world’s major financial centers, you can still trade such securities from the comfort of your home using the FP Markets platform. They offer very tight spreads starting from 0.0 pips.
You also have the option to choose from among MetaTrader4, MetaTrader5 and IRESS, depending on the one you prefer.
- Well regulated
- Low pricing
- Advanced ECN tools
- Multiple trading platforms
- Commission charged on some withdrawals
- Higher spreads for stock trades
Min $100 Deposit
Regulated By: ASIC, CySEC
Foundation Year: 2005
Headquarters: Sydney (Australia)
Pepperstone
Still on our review of the best Western Union forex brokers is Pepperstone of Australia. Pepperstone broker is a subsidiary of the Pepperstone Stone Group. Established in 2010, they have become one of the largest platforms for CFD trading activities.
In 2016, their UK arm was launched, which led to an expansion of their activities to cover the UK and EU markets. Today, they have offices in Dallas, Melbourne, London and Bangkok. Pepperstone accepts different funding sources, including Western Union money transfers, so you have nothing to worry about.
You can trade different currency pairs as well as CFD trading across their trading platforms. They are also regulated by FCA, ASIC, BaFin, CySEC, SCB and several other regulators.
- Excellent research tools
- Wide range of CFD and Securities
- Good copy trading tools
- Fully digital
- Lack of 24/7 customer support
- Limited duration of 30 days for Demo trading
- Only CFDs and forex can be traded
Min $0 Deposit
Regulated By: ASIC, FCA, SCB, CySEC, BaFIN, CMA, DFSA
Foundation Year: 2010
Headquarters: Melbourne, Australia
HotForex
Last but not least, on our list of best Western Union forex brokers is HotForex. This broker is a relatively new entrant into the scene, but they have amassed quite a following since 2010. They offer up to 7 types of trading accounts with tight spreads for EUR/USD trades. Pips start from 0.1, and you have access to unrestricted liquidity via their automated platforms. HotForex will suit any strategy you choose to employ, and they are active in Asia, MENA and Asia.
HotForex is safer, secure and regulated by the FCA, CySEC and several other regulators.
- User-friendly platform
- Low fees
- Very tight spreads
- Great for beginners
- Limited assets
- No social trading
- Services offered differs depending on your area
Min $5 Deposit
Regulated By: FCA, FSCA DFSA, CySEC
Foundation Year: 2010
Headquarters: Mauritius
Conclusion
The list of Western Union forex brokers is quite extensive, and a single article will not be enough to accommodate all of them. However, the brokers mentioned above are great platforms that accept Western Union as a means of funding and making withdrawals from your trading accounts.
Western Union Forex Brokers FAQs
How long does it take to fund my forex account with Western Union?
Normally, it should take only a few minutes but not more than an hour, but the timeframe will depend on your broker. Once the transfer is made, your broker will have to update your account with your new balance.
What will happen if I find my account during the weekends?
You may have to wait until the following business week for your transfer to reflect. This will depend on your broker’s administrative policy.
Can I use Western Union to fund my trading account regardless of my location?
No. Your location matters. You will not be able to use it if Western Union is not allowed in your region.
Is it expensive to fund or make withdrawals from my account using Western Union?
No. It is relatively cheap.
Other banking options
