Last update: 9 April 2020
5 min read

Trading with Western Union Forex Brokers

When it comes to criteria for choosing a Forex broker, it takes a lot to think about. Of course, it depends on your experience what will be the most important for you as a factor to choose a trading website. Unfortunately, beginners usually get impressed by the generous and attractive bonuses. But this a trap and no matter how cool special offers in a broker`s page are, sometimes they are compensations for weak trading options and features. Moreover – bonuses are provided for one single time, usually, when you make a registration, while terms and conditions, rules and options for trading last till the day you decide to quit your broker. If such a day has come to you, too, then you might appreciate one piece of advice by us – always consider the payment methods in the financial websites you are members of. You might be used to the traditional methods like bank wire transfer and PayPal, but they are not always beneficial to all users. On the contrary – sometimes, the standard payment methods are not as beneficial as they are for most customers. This is when you need to consider alternative and rarer payment approaches like Western Union. Do you know the company and do you know that it supports numerous Forex brokers, too? Actually, they do, so that`s why Forex world knows a whole group of Western Union Forex brokers. Find out more about them…

What kind of a company Western Union is in general?

western union forex brokersSome of you might have heard about Western Union as a company for international sending of money, but personally, face to face. How does this procedure work? It`s simple. If you want to send your fellow some money, you go to Western Union office, speak to some of their deck employees and few minutes after the payment you make (with a small fee for the service, usually a % from the whole amount), your friend can visit Western Union office from his own current residence to get the money. The fee might be paid by your friend, too, by the way. This is all we usually know about Western Union, but it`s not actually all the company does. As a matter of fact, this financial company has many departments – including banking, crediting and digital financial transaction operation. The last option Western Union does provide is the option you should care about, when it comes to financial trading. When you want to make a deposit or a withdrawal digitally, aka to have your Forex broker account credited, you can do it directly via Western Union. Withdrawals via this company is also possible. As a company in financial trading, Western Union might not be so popular, but in everyday expenses it is. Actually, it was established back in 19th century. Since then it is concerned as extremely safe and convenient. What most people – including traders – do not like about Western Union are the big taxes. Fees in financial trading aren`t very low, either, but many traders deal with them at the expense of the fact this company is safer than any other. Also, there are restrictions for some countries to use Western Union, which means they cannot take benefits of its pros. However, if you are based in a country, where this payment method is allowed, better try it!

How does Western Union Forex Broker work?

Some of the most popular Forex brokers do allow deposits and withdrawals via Western Union. E-Toro, MXTrade, XM, YouTrade are only few of the best names in financial trading world that are linked to Western Union. If you use some of them or you are planning to sign in such a website, it is high time for you to get to know the method of financial transfers via Western Union. Don`t worry, it`s both – simple and quite fast. Even though Western Union has received an official Forex license to connect its customers` funds with their accounts in the different trading platform in Brazil, you can use the company outside this company, too. Have in mind that if you are, though, in a country with no restriction for Western Union, but the recipe – the broker`s office does not accept such – you are not be able to make any transactions. This method works efficiently in both – deposits and withdrawals.

Pros of Western Union Forex brokers?

Whether you are going to switch to a new broker, because your current one does not refer to your today`s needs and preferences, or you are curious to find out whether Western Union Forex brokers will suit your needs more, these are all of the pros you will receive for such a decision.

  • Western Union is a reputable and experienced company that has a very strong reputation for more than a century. Today, it gains popularity in financial trading, too, but people have known how good it is for years.
  • Safety and security via Western Union payments are also on quite high level.
  • If you want decent and first-class attendance, while making even a single financial transactions, then Western Union is your method to claim for deposits and withdrawals.
  • Almost any European Forex broker does allow you to make deposits and to claim for a withdrawal via Western Union. It will not cause you any difficulties, when searching for Western Union Forex brokers.
  • Indeed, fees are not so small in Western Union, but some brokers provide refund for them, when you become a regular or loyal customer.

What we truly recommend you is to give it a try – join a Western Union Forex broker and see if the conditions it offers might suit your needs. Do not hesitate to share your impression about it later! We hope you`ll like and enjoy it!

Best and most trusted forex brokers in April 2024

Was the information useful?