CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data. *Availability subject to regulation.
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.
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.
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.
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.
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.
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.
Forex.com 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 Forex.com scored highly in:
Forex.com offers one way to tradeForex . If you wanted to trade EURUSD
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.
Forex.com have a AAA trust score . This is largely down to them being regulated by Financial Conduct Authority, segregating client funds, being segregating client funds, being established for over 19
|Regulated by||Financial Conduct Authority|
|Uses tier 1 banks|
|Segregates client funds|
Want to see how Forex.com? We’ve compared their spreads, features, and key information below.
|USD/JPY Spread||0.90||DAX Spread||250.0|
|FTSE 100 Spread||150.0|
|Platform||MT4, Web Trader, NinjaTrader, Tablet & Mobile apps|
|Base currency options||USD, GBP, EUR|
|Funding options||Bank transfer, Cheque, DebitCard,|