Bank Wire Transfer Forex Brokers are FX brokers that allow their clients to deposit and withdraw money using a bank wire transfer.

Other popular payment methods used by Forex traders to manage their funds are Webmoney and Neteller. The current main online payment method would be using PayPal.

 What are Bank Wire Transfer Forex Brokers?

Bank wire, put simple, is an international bank transfer or transaction, where a client transfers funds directly from their bank account to the bank account of someone else. These types of transaction do not include any third party processing fees, are considered very safe and have no restrictions in the amount that can be transferred. However, when using bank transfers to fund a Forex account, a trader has no easy way to claim back his funds when the broker does not credit his trading account in time.

List of Bank Wire Transfer Forex Brokers

There are many Forex brokers that provide bank wire, since it is a direct line between the client and the broker, which benefits both sides of the transaction. Some of the Forex brokers that provide the option of bank wires are: XTB, eToro, and Plus500.

Broker
Description
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Octafx
OctaFX
Regulation: CySec
Min. Deposit: $/€/£ 5
Leverage: 1:500
Spreads: Low as 0.4 pips

Review


FP Markets
FP Markets

Regulation: ASIC, CySEC
Min. Deposit: $/€/£ 100
Leverage: 1:500
Spreads: Ultra Tight from 0.0 pips

Review


NSBroker
NSBroker
Regulation: MSFA, BaFin, FCA,
Min. Deposit: $250
Leverage: 1:100
Spreads: Low as 1.2 pips

Review
XM
XM
Regulation: CySEC,FCA,ASIC
Min. Deposit: $/€/£ 5
Leverage: 1:500
Spreads: Low as 0.1 pips

Review
Avatrade
Avatrade
Regulation: ASIC,JFSA,FSCA
Min. Deposit: $/€/£ 250
Leverage: 1:400
Spreads: Floating from 1 pip

Review


IC Markets
IC Markets
Regulation: ASIC
Min. Deposit: $/€/£ 200
Leverage: 1:500
Spreads: Low as 0.0 pips

Review


Etoro
Etoro
Regulation: CySEC,FCA,ASIC
Min. Deposit: $/€/£ 200
Leverage: 1:30
Spreads: Variable

Review

XTB
XTB
Regulation: FCA
Min. Deposit: $/€/£ 250
Leverage: 1:30
Spreads: Low as 0.1 pips

Review


IQOption
IQOption


Regulation: CySec
Min. Deposit: $/€/£ 10
Leverage: 1:1000
Spreads: Floating from 1 pip

Review


OlympTrade
OlympTrade
Regulation: IFC
Min. Deposit: $/€/£ 10
Leverage: 1:500
Spreads: Low as 0.0 pips

Review
Globex360
GlobeX360
Regulation: FSCA
Min. Deposit: No min Deposit
Leverage: 1:500
Spreads: Low as 1.6 pips

Review

How Vulnerable are Bank Wire Transfers?

There has been an increasing amount of cyber-security threats that have been circling online financial services. These particular virtual threats to a digital system are aimed to attack the server of the online financial services provider. The most common types of cyber-security attacks: backdoor, denial-of-service, and direct access attacks.

Backdoor cyber-attacks mostly find alternatives to access a computer system. These backdoor attacks do not need the usual form of authentication, which means that hackers can gain access to all kinds of information with this cyber attack. Denial-of-service cyber-attacks are the opposite of backdoor cyber-attacks. This means that the account user is banned from accessing the computer system. It can often occur when a wrong password is applied enough times that it locks the account automatically.

Direct-access cyber-attacks are when a hacker has access to a computer system and duplicates all of the information. This can happen with bugs and viruses that are unintentionally downloaded by a user.

 Pros of Bank Wire Transfers Forex Brokers

There are four main benefits when it comes to bank wire transfers. Bank wire transfers are a fast service, a worldwide online service, available conveniently, and it is the safest form of payment. The first benefit is that the wired funds are sent and received in real time; this means that you can send the funds while the receiver is waiting for the funds at the same time, in different time zones. Once the wire transfer is  complete, the receiver of the funds will be able to claim it right away. With bank deposits, on the other hand, there is a waiting period and the period depends on the policy of the bank making the transfer.

The second benefit is that it is a very convenient online service, and it accesses anyone, all over the world. You can send funds anywhere in the world, and you can receive money from anywhere on the global. Wire transfers can take place through online services, through wire transfer service centers, and through banks. The third benefit is that it is a global service, which means the receiver of funds does not need to go far to receive money. Since it is a global phenomenon, wire transfer service centers are almost everywhere and they do not take long to be received.

The final benefit is that it is a safe and secure way to transfer funds, since there are rules and regulations on international bank wire transfers that all services need to abide by. This means that you can trust in the safety of bank wire transfers.