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Best Payoneer Forex Brokers of 2024

BrokerNotes.co

Written by BrokerNotes.co

March 14, 2024

Benefits of Choosing a Broker that accepts Payoneer

Online payment service providers are becoming more popular, and Forex brokers are continuing to expand their range of accepted payment methods to fund trading accounts. Amongst the most popular are PayPal and Skrill ; payment gateways that are widely accepted by many brokers in the UK. Payoneer does not work with Forex brokers, however, they do offer a prepaid MasterCard which can be used at any online Forex broker that accepts MasterCard payments.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 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.

Best Payoneer Forex Brokers

Here are the best forex brokers offering a wide variety of payment options such as Payoneer.

  • IG
    - 9.9/10 Overall
  • CMC Markets - 9.6/10 Overall
  • FOREX.com
    - 9.4/10 Overall
  • XTB - 9.1/10 Overall
  • City Index - 9.3/10 Overall
  • Swissquote - 8.8/10 Overall
  • eToro - 8.8/10 Overall
  • AvaTrade - 8.7/10 Overall
  • Admirals - 8.5/10 Overall

Overall Rating

9.9 / 10

Minimum Deposit

£250.00

Trust Score info

Highly Trusted
99
Cost & Funding
Average Spread EUR/USD - Standard0.98
All-in Cost EUR/USD - Active0.82
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)Yes
Regulation
Year Founded1974
Publicly Traded (Listed)Yes
BankYes
Tier-1 Licenses8
Tier-2 Licenses2
Investment Options
Forex Trading (Spot or CFDs)Yes
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)19537
Forex Pairs (Total)97
BitcoinYes
Trading Platforms
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingNo
Charting - Indicators / Studies (Total)33
Apps & Tools
Android App
Apple iOS AppYes
Education (Forex or CFDs)Yes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes

Overall Rating

9.6 / 10

Minimum Deposit

$0

Trust Score info

Highly Trusted
99
Cost & Funding
Average Spread EUR/USD - Standard0.61
All-in Cost EUR/USD - Active0.51
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)Yes
Regulation
Year Founded1989
Publicly Traded (Listed)Yes
BankNo
Tier-1 Licenses5
Tier-2 Licenses1
Investment Options
Forex Trading (Spot or CFDs)Yes
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)12074
Forex Pairs (Total)156
BitcoinYes
Trading Platforms
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)79
Apps & Tools
Android App
Apple iOS AppYes
Education (Forex or CFDs)Yes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes

Overall Rating

9.4 / 10

Minimum Deposit

$100

Trust Score info

Highly Trusted
99
Cost & Funding
Average Spread EUR/USD - Standard1.4
All-in Cost EUR/USD - Active1.13
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)Yes
Regulation
Year Founded1999
Publicly Traded (Listed)Yes
BankNo
Tier-1 Licenses7
Tier-2 Licenses1
Investment Options
Forex Trading (Spot or CFDs)Yes
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)5500
Forex Pairs (Total)91
BitcoinYes
Trading Platforms
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingNo
Charting - Indicators / Studies (Total)88
Apps & Tools
Android App
Apple iOS AppYes
Education (Forex or CFDs)Yes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes

Overall Rating

9.1 / 10

Minimum Deposit

$0

Trust Score info

Highly Trusted
96
Cost & Funding
Average Spread EUR/USD - Standard1.00
All-in Cost EUR/USD - Active1.00
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulation
Year Founded2002
Publicly Traded (Listed)Yes
BankNo
Tier-1 Licenses2
Tier-2 Licenses2
Investment Options
Forex Trading (Spot or CFDs)Yes
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)6100
Forex Pairs (Total)71
BitcoinYes
Trading Platforms
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)39
Apps & Tools
Android App
Apple iOS AppYes
Education (Forex or CFDs)Yes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes

Overall Rating

9.3 / 10

Minimum Deposit

£100.00

Trust Score info

Highly Trusted
99
Cost & Funding
Average Spread EUR/USD - Standard1.4
All-in Cost EUR/USD - Active0.74
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)Yes
Regulation
Year Founded1983
Publicly Traded (Listed)Yes
BankNo
Tier-1 Licenses7
Tier-2 Licenses1
Investment Options
Forex Trading (Spot or CFDs)Yes
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)13500
Forex Pairs (Total)84
BitcoinYes
Trading Platforms
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)88
Apps & Tools
Android App
Apple iOS AppYes
Education (Forex or CFDs)Yes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes

Overall Rating

8.8 / 10

Minimum Deposit

$1000

Trust Score info

Highly Trusted
99
Cost & Funding
Average Spread EUR/USD - StandardN/A
All-in Cost EUR/USD - ActiveN/A
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulation
Year Founded1996
Publicly Traded (Listed)Yes
BankYes
Tier-1 Licenses5
Tier-2 Licenses1
Investment Options
Forex Trading (Spot or CFDs)Yes
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)472
Forex Pairs (Total)78
BitcoinYes
Trading Platforms
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)49
Apps & Tools
Android App
Apple iOS AppYes
Education (Forex or CFDs)Yes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes

Overall Rating

8.8 / 10

Minimum Deposit

$10-$10,000

Trust Score info

Highly Trusted
90
Cost & Funding
Average Spread EUR/USD - Standard1
All-in Cost EUR/USD - ActiveN/A
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulation
Year Founded2007
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses3
Tier-2 Licenses0
Investment Options
Forex Trading (Spot or CFDs)Yes
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)3479
Forex Pairs (Total)52
BitcoinYes
Trading Platforms
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)104
Apps & Tools
Android App
Apple iOS AppYes
Education (Forex or CFDs)Yes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)No
Economic CalendarYes

Overall Rating

8.7 / 10

Minimum Deposit

$100

Trust Score info

Highly Trusted
94
Cost & Funding
Average Spread EUR/USD - Standard0.92
All-in Cost EUR/USD - Active0.61
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulation
Year Founded2006
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses4
Tier-2 Licenses3
Investment Options
Forex Trading (Spot or CFDs)Yes
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)1260
Forex Pairs (Total)55
BitcoinYes
Trading Platforms
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)80
Apps & Tools
Android App
Apple iOS AppYes
Education (Forex or CFDs)Yes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes

Overall Rating

8.5 / 10

Minimum Deposit

$100

Trust Score info

Highly Trusted
93
Cost & Funding
Average Spread EUR/USD - Standard0.8
All-in Cost EUR/USD - Active0.8
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulation
Year Founded2001
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses4
Tier-2 Licenses3
Investment Options
Forex Trading (Spot or CFDs)Yes
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)8702
Forex Pairs (Total)82
BitcoinYes
Trading Platforms
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)30
Apps & Tools
Android App
Apple iOS AppYes
Education (Forex or CFDs)Yes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes

What is Payoneer?

A Payoneer account provides a means for receiving money transfers from businesses around the world. Payoneer also offers a payments solution for businesses to make and receive payments. The company was founded in 2005 in New York and has since then risen to be ranked in the top 100 financial services companies worldwide. According to their website, their goal is to empower their customers so they can grow their businesses, enabling them to make and receive payments globally and confidently. Payoneer works with many major marketplaces and networks to provide payments for services, such as Fiverr, Amazon, Airbnb, iStock, and Google Trusted Stores. Small and medium-sized enterprises looking to connect to their own trading partners and customers can also benefit from their range of services.

Payoneer services

Payoneer makes it easy for individuals to receive money transfers from companies across borders, and for businesses to pay for services and goods from freelancers and other providers from around the world. The payment services are available in most countries and in over 150 different currencies. The payment solutions are fast and flexible and are suitable for a range of different customers, all of which are treated with the same level of efficiency. From freelance travel bloggers to large multinational corporations, Payoneer’s global money transfer services have already been trusted by 4 million users.

The charges are also very competitive. With a basic account, it is free to receive payments in the UK, EU, and the US. Withdrawing to a local bank account in the same currency is also free, however, a currency conversion charge of 2% above the market rate will be applied if the transferred funds are in a different currency to the bank account. For customers withdrawing USDs to a USD bank account, a charge of $3 applies. It should be noted that there also may be additional fees from a personal bank account, such as processing fees, landing fees or intermediary fees, which are not directly associated with Payoneer.

A 24/7 customer support service is also available to help clients with any questions they may have about the payments platform.

Advantages of using Payoneer to fund your trading account

Payoneer accounts are mainly used by individuals and businesses to bill clients and receive payments. The payment services are not directly used to fund and withdraw money from trading accounts, and in fact, inbound payments from Forex, binary and other trading accounts are prohibited.

However, Payoneer do offer a prepaid MasterCard. This can be used to fund any trading account that accepts MasterCard payments. No bank accounts are required to sign up to the Prepaid MasterCard, and funds are accessible within 2 hours of a payment being received onto the card.

BrokerNotes.co 2023 Overall Rankings

To recap, here are our top forex brokers for 2023, sorted by Overall ranking.

Company Overall Rating Minimum Deposit Average Spread EUR/USD - Standard Trust Score Tradeable Symbols (Total) Read Review Visit Site
IG logoIG 9.9 £250.00 0.98 info 99 19537 IG Review Visit Site
Interactive Brokers logoInteractive Brokers 9.9 $0 0.63 info 99 8500 Interactive Brokers Review
Saxo logoSaxo 9.7 $0 1.1 info 99 70000 Saxo Review
CMC Markets logoCMC Markets 9.6 $0 0.61 info 99 12074 CMC Markets Review
FOREX.com logoFOREX.com 9.4 $100 1.4 info 99 5500 FOREX.com Review Visit Site
TD Ameritrade logoTD Ameritrade 9.3 $0 1.25 info 99 0 TD Ameritrade Review
City Index logoCity Index 9.3 £100.00 1.4 info 99 13500 City Index Review
XTB logoXTB 9.1 $0 info 1.00 info 96 6100 XTB Group Review
eToro logoeToro 8.8 $10-$10,000 1 info 90 3479 eToro Review
Swissquote logoSwissquote 8.8 $1000 N/A info 99 472 Swissquote Review
Capital.com logoCapital.com 8.7 $20 info 0.67 info 87 3007 Capital.com Review
AvaTrade logoAvaTrade 8.7 $100 0.92 info 94 1260 AvaTrade Review
Plus500 logoPlus500 8.6 €100 0.8 (August 2021) info 99 5500 info Plus500 Review
OANDA logoOANDA 8.5 $0 1.57 info 93 1744 info OANDA Review
FXCM logoFXCM 8.5 Starts from $50 0.74 info 95 440 FXCM Review
Admirals logoAdmirals 8.5 $100 0.8 info 93 8702 Admiral Markets Review
Pepperstone logoPepperstone 8.4 $200 0.77 info 95 2342 Pepperstone Review
XM Group logoXM Group 8.4 $5 1.6 info 88 1429 XM Group Review
FP Markets logoFP Markets 8.3 $100 AUD 1.1 info 87 10000 FP Markets Review
FxPro logoFxPro 8.1 $100 1.51 info 90 2249 FxPro Review
IC Markets logoIC Markets 8.1 $200 0.62 info 84 3583 IC Markets Review
Markets.com logoMarkets.com 8.1 $100 1.9 info 96 2179 Markets.com Review
Tickmill logoTickmill 8.1 $100 0.51 info 86 725 Tickmill Review
Fineco Bank logoFineco Bank 8.0 $0 N/A info 94 9770 Fineco Bank Review
BlackBull Markets logoBlackBull Markets 8.0 $0 0.827 info 78 26000 BlackBull Markets Review
Vantage logoVantage 8.0 $50 1.30 info 90 1000 Vantage Review
HYCM (Henyep Capital Markets) logoHYCM (Henyep Capital Markets) 7.9 $20 0.6 info 88 1199 HYCM Review
HFM logoHFM 7.9 $0 1.2 info 86 3500 HFM Review
ThinkMarkets logoThinkMarkets 7.8 $0 info 1.1 info 92 4000 ThinkMarkets Review
FlowBank logoFlowBank 7.7 $0 N/A info 80 408600 FlowBank Review
DooPrime logoDooPrime 7.8 $100 N/A info 83 10000 DooPrime Review
Trading 212 logoTrading 212 7.7 €10 1.9 info 79 8025 Trading 212 Review
BDSwiss logoBDSwiss 7.7 $10-$5000 info 1.6 info 76 1081 BDSwiss Review
Trade Nation logoTrade Nation 7.6 $0 0.6 85 601 Trade Nation Review
TMGM logoTMGM 7.6 $100 N/A info 83 12000 TMGM Review
Moneta Markets logoMoneta Markets 7.5 $50 1.27 info 72 1016 Moneta Markets Review
Eightcap logoEightcap 7.5 $100 1.0 info 85 736 Eightcap Review
MultiBank logoMultiBank 7.5 $50 N/A 84 1042
ACY Securities logoACY Securities 7.4 $50 1.2 info 75 2200 ACY Securities Review
RoboForex (RoboMarkets) logoRoboForex (RoboMarkets) 7.3 $100 1.4 info 71 12000 Roboforex (RoboMarkets) Review
VT Markets logoVT Markets 7.3 $100 1.2 info 70 1000 VT Markets Review
easyMarkets logoeasyMarkets 7.3 $50 0.9 info 80 199 easyMarkets Review
IronFX logoIronFX 7.2 $50 1.2 83 340 IronFX Review
Spreadex logoSpreadex 7.2 $0 0.81 info 71 10000 Spreadex Review
IFC Markets logoIFC Markets 7.2 $1 1.44 info 67 630 ATFX Review
Trade360 logoTrade360 7.2 $250 N/A info 76 1062 Trade360 Review
Octa logoOcta 7.2 $25 0.9 info 70 230 OctaFX Review
Axi logoAxi 7.1 $0 N/A info 81 175 Axitrader Review
TeleTrade logoTeleTrade 7.1 $100 N/A 71 500 Teletrade Review
GKFX logoGKFX 7.0 $0 N/A info 65 354 GKFX Review
Exness logoExness 7.0 $1 0.9 info 71 112 Exness Review
Vestle logoVestle 7.0 -1 N/A 78 750 Vestle Review
FXOpen logoFXOpen 7 $100 N/A info 80 87 FXOpen Review
FXPrimus logoFXPrimus 7.0 $100 N/A info 71 140 FXPrimus Review Visit Site
Forex4you logoForex4you 6.9 $0 N/A info 61 150 Forex4you Review
GBE brokers logoGBE brokers 6.8 $500 N/A info 71 500 GBE Brokers Review
Alpari logoAlpari 6.8 $20 N/A info 68 105 Alpari Review
TopFX logoTopFX 6.7 Depends on payment method N/A info 67 655 TopFX Review
Libertex (Forex Club) logoLibertex (Forex Club) 6.7 $10 N/A info 73 300 Libertex Review
LegacyFX logoLegacyFX 6.7 $500 N/A 67 425 LegacyFX Review
FXGT.com logoFXGT.com 6.6 $5 N/A 69 117 FXGT Review
ATFX logoATFX 6.5 $500 N/A info 73 150 ATFX Review
Xtrade logoXtrade 6.5 $250 N/A info 80 142 Xtrade Review

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At BrokerNotes.co, our data-driven online broker reviews are based on our own extensive testing of each broker's products and services as well as the qualified observations of our expert editorial team. In conjunction with our sister site, ForexBrokers.com, we’ve published well over 100,000 words of research and collected thousands of data points across hundreds of variables. Our online trading guides are created with the same rigorous, data-driven approach.

The online brokers on our site provide the ability to trade forex in one or more ways, such as non-deliverable spot forex (i.e., rolling spot contracts), contracts for difference (CFD), or other derivatives such as futures. The availability of specific markets or features will depend on your country of residence and the broker's applicable brand or entity that services your account(s). Our proprietary Trust Score rating system tracks data from over 100 regulatory jurisdictions to help forex traders understand the regulatory status of their forex broker and choose a broker that they can trust.

Our editorial team is led by Steven Hatzakis, an industry veteran with decades of experience and a deep understanding of the forex market. Our team conducts thorough testing on a wide range of brokers, platforms, products, technologies, third-party trading tools, and mobile apps. We also test for the availability of high-quality educational content, actionable market research resources, and the accessibility and capabilities of mobile platforms. All of our ratings and rankings are based on the collection and validation of thousands of data points and our in-depth product testing.

Part of our testing process involves in-depth research into commissions and fees. We dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads (we always strive to determine the average spreads for each broker to better serve our readers), and a variety of other fee-based data points.

All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go.

When testing mobile apps or mobile products, we test on both Apple and Android devices. For Apple, we test with the iPhone XS running iOS 16, and for Android we use the Samsung Galaxy S9+ and Samsung Galaxy S20 Ultra devices running Android OS 13.

All of the content on BrokerNotes.co is researched, fact-checked, and edited by members of our editorial team. Our ratings and rankings are driven by our independent data collection. We may use generative AI tools to assist in some of the rote aspects of our content production processes, but the substance of our content, as well as our opinions and evaluations are based on our extensive research and product testing. Read our Generative AI policy to learn more.

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Forex Risk Disclaimer

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.

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