Compare Brokers That Accept MoneyGram

Looking for brokers that accept moneygram? We have compared 25 broker accounts (out of 147) that are suitable for you below.

We found 25 broker accounts (out of 147) that are suitable for MoneyGram.

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Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

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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.

Related Pages

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.