Last update: 12 March 2020
8 min read

Best Brokers to use with Payza

Online payment services have exploded in popularity over recent years. Naturally, that means that many forex brokers are starting to accept them. One online payment service which many traders consider to be especially convenient and easy to use is Payza.

In this article, you will learn all about Payza and discover more about brokers which are offering Payza for deposits and withdrawals.

Let’s go ahead and get started by talking about what Payza is and what features make it stand out.

Information About Payza

Payza is an online service for money transfers, promoted as “Simple, speedy and secure.” With it, you can instantly transfer money any time of the day or night. You can use Payza in more than 190 countries with 25 different currencies.

Originally, the company operated as AlertPay. It got its start in 2004 in Canada, and is currently a subsidiary of MH Pillars, a company based in the UK.

The service includes support for bank accounts, credit cards, Bitcoin, and other payment methods. That means that you can choose whichever method you prefer to load money into your Payza account.

Signing up for an account is free, and there are never any maintenance fees. While Payza charges 2.90 % + $0.30 USD to receive payments, sending money is free. If you want to transfer money to a bank account, the cost is $0.50 USD per transaction.

Payza includes some other likable features as well. If you introduce family or friends to Payza, you may be able to earn money through the referral program. Need to send funds to your home country? You can do it quickly and easily with SimplySendBD™. Payza also offers local payment options, and has a resolution center which you can use if you need answers or assistance.

In short, Payza is an all-in-one solution for forex trading, shopping online, sending or receiving money instantly, and more.

What is a Payza Broker?

A Payza broker is simply a forex broker which accepts Payza for deposits and/or withdrawals. On this page, we have included a convenient list of Payza brokers for you so that you do not need to go hunting for them manually.

With most forex brokers accepting this provider, the process of making a deposit is simple and straightforward. You will first need to select Payza as your payment method on the broker’s website. At that point, you will be prompted to log into your Payza account to complete your payment. Do so through Payza’s simple, easy-to-use interface, and your money will be sent immediately to your broker.

Because Payza is so fast, you should see your funds in your trading account right away in most cases. At that point, you will be ready to begin placing trades with your broker.

If your broker also accepts Payza as a withdrawal method, you will simply need to enter in the amount you wish to take out on the withdrawal page on your broker’s site, and then put in your Payza account information. The broker will process your request according to their schedule, and the funds will appear in your Payza account once they have been transferred.

Remember, there is a fee to receive money with Payza. So while your deposits should be free, you can expect to pay a fee on your withdrawals (on top of whatever fee the broker may charge you).

Why Would You Use a Payza Broker?

There are several key benefits to using Payza as your deposit method. The first is of course the fact that sending money is free. Some brokers may still charge deposit fees, but you do not need to worry about Payza adding to those fees. Most brokers do not charge deposit fees, so this will probably be completely free. That means you can deposit as much money as you want as often as you like without worrying about incurring charges.

Another key benefit is that Payza supports many countries and currencies. No matter where you are located in the world and regardless of your base currency, the provider will very likely be available to you. You may even find that Payza will accept you as a customer in countries where other more well-known payment processing services do not.

Finally, Payza keeps your information secure. The broker only ever sees the basic information about your Payza account which is required to send you money. Your personal information and details about your bank accounts and credit cards remain private.

If you are trying out a new broker and do not feel comfortable sharing this information (or you simply want to keep your private data off of as many servers as possible), this can be a major benefit. Payza is an extra wall of protection between you and the world (of course, this is true of any e-wallet).

How to Pick a Good Payza Broker

Picking a trustworthy, high-quality Payza broker is pretty straightforward. To start with, you need to consider the general criteria that you would look at for any type of broker. You need a site which features a solid trading platform, reasonable spreads, the tools you need for trade planning and execution, lot size and leverage options that fit your budget, and on top of that, excellent customer service.

After considering those basics, you will want to make sure that the broker you are choosing will allow you to take full advantage of the best features of Payza. That means looking at couple of things like payment processing time and fees.

Ideally, your Payza broker should not charge you deposit fees. That way you can have a completely fee-free experience when you deposit money from your Payza account into your forex account.

In terms of processing times, obviously it is best if those are kept to a minimum as well. Payza can be instant, but if your broker is slow to process deposits and withdrawals, that can bog down the entire process.

Finally, it is most convenient if you are able to find a broker which will allow you to use Payza for both your deposits and your withdrawals. That way you can use the same method for transferring money in either direction. This keeps things as easy and convenient as possible. It ensures that you are able to protect your banking information completely.

Best and most trusted forex brokers in April 2024


You are now familiar with Payza, and know a bit more about how you can use it to deposit funds into your forex broker account. Not all forex brokers offer Payza, but it is a popular enough service that quite a few of them do. If the company remains successful, it is likely that even more trading sites will offer it as a deposit method in the future.

Is Payza the best deposit method for forex? That is something only you can decide for yourself. It has its pros and cons, just like any other payment method. But if you are looking for a flexible online payment service which you can use to protect your banking information while depositing and withdrawing just about anywhere in a currency of your choice, a Payza forex broker may be the right fit for your needs. With Payza on your side, you can deposit your money into your forex account in just a few clicks.

To get started, just take a look at the sites we recommend in our forex broker chart. All of these sites not only accept Payza, but also fulfill the rest of our criteria for high quality service and features.


Q: Who owns Payza?

A: Payza is currently owned by MH Pillars Ltd. Originally, the company focused on white label prepaid cards before branching out with Payza.

Q: Should I be concerned about the current Payza court case?

A: It would be remiss not to mention that Firoz Patel and Ferhan Patel, Payza’s founders, were recently indicted for fraud. Specifically, the fraud involved money laundering. This may mean that Payza will be closing its doors soon, but it is also entirely possible the company will simply change hands. If so, the change of management would be a good thing. You will need to decide for yourself if you feel comfortable using this service.

Q: How fast is Payza?

A: In many cases, transfers made using Payza are instant.

Q: Is Payza free?

A: It is free to open an account, and it is free to send money. However, there are fees for receiving money.

Q: How do I sign up at a Payza broker?

A: All you need to do is register an account at a forex broker which accepts Payza as a deposit method. We have a list of recommendations right here on this page. Just check out the chart, pick a site to join, sign up, and make your first deposit. It only takes minutes to begin.

Q: What if I need help using Payza?

A: Payza’s customer service team is standing by and ready to help with any questions or concerns you may have when you are using their service. Your forex broker may be able to help you out as well with issues involving deposits or withdrawals.

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