Forex Brokers
payment solutions

In the realm of forex trading, brokers often encounter obstacles due to regulatory and compliance constraints, which result in their merchant account applications being rejected by traditional payment gateway providers. As a solution, they may turn to a Payment Service Provider (PSP). A PSP, or Payment Provider, offers comprehensive and secure online payment solutions tailored to the needs of businesses. They are considered the best PSPs for business operations, particularly for those in the forex industry. They not only assist in setting up a Forex bank account but also provide dedicated Forex Payment Solutions. These online payment solutions ensure smooth banking transactions, establishing them as a preferred alternative to conventional banking systems for forex brokers.

It is challenging for Brokers to Find a Payment Gateway

Due to regulatory and compliance restrictions, forex brokers frequently find themselves with a denied application when they try to open a merchant account at a traditional payment gateway provider, and even if they find a payment solution, brokers naturally execute high-volume transactions on their platforms on a daily basis, which drives up the business chargeback rates. As a result, payment processors have categorized forex service providers as high-risk businesses, meaning brokers will likely face rejected applications or very high transaction rates with traditional gateway solutions.
Forex brokers can also open a merchant account with a dedicated payment gateway that specializes in high-risk industries; however, these services take advantage of the situation by charging unreasonable fees and holding customer funds for extended periods of time, not to mention that if you are not regulated, your options are limited to none.
It is important to note that all Alliance payment solutions only accept merchants who strictly adhere to the regulatory laws of all countries where they do business.

Alliance Payment Solution

Card Processing

Accepted cards: Visa, MC, Amex, UnionPay & others. Alliance provides processing via global payment service providers with fewer country restrictions. Expect lengthy application process due to comprehensive documentation required from business, shareholders, directors & key personnel.

Cashier Software

The cashier software is modular and responsive, featuring smart routing and high-level risk management. It offers customizable deposit limits and payment methods based on country, currency, campaign, or other parameters. To strengthen (GEO)-targets and expand reach, processors are recommended.

Bank Accounts

Alliance resolves the issue of Forex Brokers being limited to opening bank accounts in their regulated country by partnering with banks globally. Verified, regulated brokers can open business accounts with these banks, no longer limited to their home country.

Forex Brokers should expect to receive a comprehensive list of required documents when establishing a bank account. However, this is achievable for serious and dedicated brokers. Alliance offers payment solution assistance and does not guarantee approval, although it has a high success rate for applications.