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CFDs are leveraged products and can result in the loss of your capital. Rankings are influenced by affiliate commissions. All information collected on 1/11/2017.

The Ultimate Guide to

Choosing a Broker
For MoneyGram

Not sure which broker is right for you?

Don’t worry - we’ve got you covered. In this guide, you’ll learn:

Ready?

Part 1

Why Choose
For MoneyGram?

scored best in our review of the top brokers for moneygram, which takes into account 120+ factors across eight categories. Here are some areas where scored highly in:

  • + years in business
  • Offers + instruments
  • A range of platform inc.
  • 24/7 customer service
  • Tight spreads from pips
  • Used by 0+ traders
  • Offers demo account
  • 0 languages
  • Leverage up to

offers one way to trade: . If you wanted to trade EURUSD through copy trading or other means, skip to part two.

The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

have a trust score, which is . This is largely down to them being regulated by , segregating client funds, being established for over years, and much more. For comparison:

Trust Score comparsion

Trust Score
Year Established
Regulated by
Uses tier 1 banks
Company Type Private Private Private
Segregates client funds

The second thing we look for is the competitiveness of the spreads, and what fees they charge. We've compared these in detail in part three of this guide.

Part 2

Who is (& Isn’t)
Suitable For

As mentioned, allows you to trade in one way: .

Suitable for:

  • Spread Betting
  • CFD Trading
  • Forex Trading
  • Social Trading

Not Suitable for:

To trade with , you'll need a minimum deposit of $. offers a range of different account types for different traders including a , .

Finally, isn't available in the following countries: . They do not offer islamic accounts either.

Part 3

A Comparison of vs. vs.


Want to see how stacks up against and ? We've compared their spreads, features, and key information below.



Spread & fee comparsion

The spreads below are illustrative. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.
Fixed Spreads
Variable Spreads
EUR/USD Spread
GBP/USD Spread
USD/CAD Spread
USD/JPY Spread
DAX Spread
FTSE 100 Spread
S&P500 Spread

Comparison of account & trading features

Spread type Fixed
EUR/USD Spread
EUR/GBP Spread
Crude Oil Spread
Gold Spread Private Private Private
DAX Spread

Part 4

Benefits of choosing a broker that accepts MoneyGram

More brokers are accepting e-wallets as methods to withdraw from and deposit funds into a trading account. There are an increasing number of electronic payment platforms being added to the market, and not all of them are accepted by regulated brokers. Traders deciding whether to become a MoneyGram member, or whether to sign up with another payments provider, need to weigh up the alternatives before committing. MoneyGram offer safe and secure payments, but they are not an accepted payment method for some of the major regulated brokers in the UK and Western Europe. A money transfer services provider such as PayPal or Neteller may be more suitable, depending on the broker and the location of the trader.

What is MoneyGram?

MoneyGram are an international payment services provider that enable not only money transfers, but also an array of other financial services. The roots of the company can be traced back to 1940 with the merging of two companies: Travelers Express and Integrated Payment Systems Inc. MoneyGram International, as it is now known globally, was rebranded in 2004.

MoneyGram have around 350,000 agent locations and operate in more than 200 countries around the world. Their services are trusted by tens of millions of customers.

MoneyGram services

Using MoneyGram is a very easy and secure way of transferring funds around the world. One of the main features of MoneyGram is that it enables people to transfer cash to recipients around the world almost instantaneously. This is done by taking the cash to one of the MoneyGram agents. They will process the transaction and it will be ready for collection at an alternative MoneyGram location typically within minutes. In addition to this, consumers from many countries are able to receive funds direct into bank accounts, mobile phone accounts, or onto a prepaid card. A list of these countries can be found on the MoneyGram website.

The company’s fees, although affordable, are slightly more expensive than other companies such as PayPal. As an example, it costs £12 to send £100 to an account or MoneyGram agent within the UK (as at July 2017). MoneyGram’s fees vary from country to country and are dependant on the amount being sent. The cost can be worked out using the Cost Estimator on their website. There is a maximum of £4,600 per transfer and/or per month, however additional money can be sent through MoneyGram agents if necessary.

MoneyGram Cost Estimator

Benefits of using MoneyGram to fund a trading account

One of the main benefits of using MoneyGram is that they offer a very simple and secure way of depositing and withdrawing funds. Transactions normally occur within minutes to the majority of the countries that the service is available in. Some of these include the US, United Kingdom, and Germany. MoneyGram also offer a loyalty program to members, which allows them to take advantage of benefits that vary according to their usage levels.

MoneyGram are recognised as one of the major money transfer companies in the world today, however their services are not as widely accepted amongst brokers as PayPal, Neteller and Skrill.

Brokers who accept MoneyGram

Regulated broker, XM, previously accepted MoneyGram as a payment method, but now only accept the following e-wallet providers: Neteller, Skrill, SOFORT, CASHU, and Przelewy.


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