Western Union Forex Brokers

Western Union Forex brokers
Western Union is a world-renowned money transfer platform used by businesses and individuals to move money across state lines. It is considered an instant money transfer system because the recipient can cash it in a matter of minutes after the transfer is confirmed. Due to its flexibility, many people prefer it when making payments or transferring money to and from online platforms, and the same is the case with Western Union Forex Brokers.

Top Western Union Forex Brokers For 2022

Broker
Rating
Regulated
Min. Deposit
Bonus
Max. Leverage
1.
easyMarkets

CySec, ASIC, BVI

Min $100 Deposit

Up to 50% With Sign-up

1:30

Review » Open Account » Open Account
Terms & conditions apply
Your capital is at risk.
2.
FXCC

CySEC, FCA

Min $100 Deposit

100% First Deposit

1:500

Review » Open Account » Open Account
Terms & conditions apply
Your capital is at risk.
3.
HYCM

CySEC, FCA, CIMA, FSC, DFSA

Min $100 Deposit

10% Credit Bonus

500:1

4.
Fusion Markets

ASIC, VFSC

Min $100 Deposit

-

500:1

Review » Open Account » Open Account
Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
5.
Plus500

ASIC, FMA, FCSA, FCA, CySEC, MAS, FSA

$100

€25 No Deposit Bonus

1:30

6.
Blackbull Markets

ASIC, VFSC

Min $100 Deposit

-

500:1

Review » Open Account » Open Account
Terms & conditions apply
Risk Warning: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money you cannot afford to lose. You should make yourself aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any questions or concerns as to how a loss would affect your lifestyle.
7.
LegacyFX

CySEC, VFSC, NBRB, FCA

Min $250 Deposit

-

1:200

Review » Open Account » Open Account
Terms & conditions apply
Your capital is at risk.
8.
Vantage FX

FCA, ASIC, CIMA, SIBL

Min $200 Deposit

Up to 50% Bonus

500:1

Review » Open Account » Open Account
Terms & conditions apply
Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.
9.
Eightcap

ASIC, VFSC

Min $100 Deposit

$30 No Deposit Bonus

500:1

Review » Open Account » Open Account
Terms & conditions apply
Margin trading involves a high level of risk, and may not be suitable for all investors. You should carefully consider your objectives, financial situation, needs and level of experience before entering into any margined transactions with Eightcap, and seek independent advice if necessary. Forex and CFDs are highly leveraged products which mean both gains and losses are magnified. You should only trade in these products if you fully understand the risks involved and can afford losses without adversely affecting your lifestyle (including the risk of losing substantially more than your initial investment).
10.
Forex.com

FCA, IIROC, JFSA, NFA, CIMA, FSA, ASIC, CFTC

$100

Up to $5000 Welcome Bonus

50:1

Review » Open Account » Open Account
Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best Western Union Forex Brokers Reviews

If you are a trader who prefers Western Union as a means of funding your account and making withdrawals, wouldn’t you want to know which brokers allow Western Union on their platform?

In this section, we review the best forex brokers that accept Western Union.

BDSwiss

BDSwiss Logo
BDSwiss is a broker that operates from Switzerland with its headquarters in Zurich. This broker has become an established and leading forex broker with a current client base of more than 1.5 million clients from more than 186 countries across different continents. This is a figure that only very few brokers can match.

But why do so many traders trust BDSwiss? This is simply because trading on the BDSwiss platform is relatively easy. They provide trading services across the globe and operate from different established offices in Berlin, Malaysia, Kosovo, Cyprus and Albania.

BDSwiss accepts Western Union as a means of funding your trading account. And with a fully funded account, you can trade major and minor currency pairs on the platform. Opening an account with them is easy, and they have a friendly and active customer service network. In terms of security, BDSWiss is safe and secure and is regulated by several regulators, including CySEC, FSA NFA.

What we like
  • Highly regulated
  • User-friendly trading tools
  • Extensive educational tools
What we do not like
  • Limited to only CFD and Forex trading

BlackBull Markets

Blackbull Markets Logo
BlackBull Markets is another forex broker that accepts Western Union money transfers from traders registered to their platform. Established in 2014, BlackBull has proven years of experience offering forex brokerage Services to traders around the globe.

BlackBull Markets offers different trading platforms like MetaTrader4 and MetaTrader5, including proprietary platforms like ZuluTrade and Myfxbook. Their trading software uses aggregated AI to help traders execute fast trades in line with their chosen strategies, and they also offer competitive pricing.

This is also one of the few Western Union forex brokers that offer retail trading across different regions from their offices in London and Malaysia. On their platform, you will have access to different trading solutions and programs. BlackBull Markets also has major, minor and exotic currency pairs for traders.

In terms of accounts, they offer different types of accounts, including MAM and PAMM Accounts for those who are interested. We also rate Blackbull highly because their platforms are quite flexible and work well with different trading strategies. They offer tight spreads and allow high leverage trading too.

What we like
  • Fully regulated (FMA, FSA)
  • Low spreads
  • In-depth research tools
What we do not like
  • No 24 hours support
Blackbull Markets Logo

Min $200 Deposit

Regulated By: FSA, FMA

Foundation Year: 2014

Headquarters: New Zealand


Terms & conditions apply
Risk Warning: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money you cannot afford to lose. You should make yourself aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any questions or concerns as to how a loss would affect your lifestyle.

FP Markets

FP Markets Logo
FP Markets is a broker with a positive track record and has remained so ever since its inception in 2005. Today, this broker serves thousands of clients around the world, and they offer access to global markets. This broker uses ECN electronic trading bridges to help traders access some of the top-performing Securities and currency pairs online.

FP Market is ranked high on trust and security. It is regulated by ASIC of Australia and CySEC of Cyprus. One major strong point of FP Markets is down to their proprietary technology, which grants access to liquidity markets no matter where you may be. Even if you are not located close to any of the world’s major financial centers, you can still trade such securities from the comfort of your home using the FP Markets platform. They offer very tight spreads starting from 0.0 pips.

You also have the option to choose from among MetaTrader4, MetaTrader5 and IRESS, depending on the one you prefer.

What we like
  • Well regulated
  • Low pricing
  • Advanced ECN tools
  • Multiple trading platforms
What we do not like
  • Commission charged on some withdrawals
  • Higher spreads for stock trades
Fpmarkets Logo

Min $100 Deposit

Regulated By: ASIC, CySEC

Foundation Year: 2005

Headquarters: Sydney (Australia)


Terms & conditions apply
70.70% of retail CFD accounts lose money

Pepperstone

Pepperstone LogoStill on our review of the best Western Union forex brokers is Pepperstone of Australia. Pepperstone broker is a subsidiary of the Pepperstone Stone Group. Established in 2010, they have become one of the largest platforms for CFD trading activities.

In 2016, their UK arm was launched, which led to an expansion of their activities to cover the UK and EU markets. Today, they have offices in Dallas, Melbourne, London and Bangkok. Pepperstone accepts different funding sources, including Western Union money transfers, so you have nothing to worry about.

You can trade different currency pairs as well as CFD trading across their trading platforms. They are also regulated by FCA, ASIC, BaFin, CySEC, SCB and several other regulators.

What we like
  • Excellent research tools
  • Wide range of CFD and Securities
  • Good copy trading tools
  • Fully digital
What we do not like
  • Lack of 24/7 customer support
  • Limited duration of 30 days for Demo trading
  • Only CFDs and forex can be traded
Fpmarkets Logo

Min $0 Deposit

Regulated By: ASIC, FCA, SCB, CySEC, BaFIN, CMA, DFSA

Foundation Year: 2010

Headquarters: Melbourne, Australia


Terms & conditions apply
74-89% of retail CFD accounts lose money.

HotForex

HotForex Logo
Last but not least, on our list of best Western Union forex brokers is HotForex. This broker is a relatively new entrant into the scene, but they have amassed quite a following since 2010. They offer up to 7 types of trading accounts with tight spreads for EUR/USD trades. Pips start from 0.1, and you have access to unrestricted liquidity via their automated platforms. HotForex will suit any strategy you choose to employ, and they are active in Asia, MENA and Asia.

HotForex is safer, secure and regulated by the FCA, CySEC and several other regulators.

What we like
  • User-friendly platform
  • Low fees
  • Very tight spreads
  • Great for beginners
What we do not like
  • Limited assets
  • No social trading
  • Services offered differs depending on your area
Fpmarkets Logo

Min $5 Deposit

Regulated By: FCA, FSCA DFSA, CySEC

Foundation Year: 2010

Headquarters: Mauritius


Terms & conditions apply
Risk Warning: Trading Leveraged Products such as Forex and Derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice.

Conclusion

The list of Western Union forex brokers is quite extensive, and a single article will not be enough to accommodate all of them. However, the brokers mentioned above are great platforms that accept Western Union as a means of funding and making withdrawals from your trading accounts.

Western Union Forex Brokers FAQs

How long does it take to fund my forex account with Western Union?

Normally, it should take only a few minutes but not more than an hour, but the timeframe will depend on your broker. Once the transfer is made, your broker will have to update your account with your new balance.

What will happen if I find my account during the weekends?

You may have to wait until the following business week for your transfer to reflect. This will depend on your broker’s administrative policy.

Can I use Western Union to fund my trading account regardless of my location?

No. Your location matters. You will not be able to use it if Western Union is not allowed in your region.

Is it expensive to fund or make withdrawals from my account using Western Union?

No. It is relatively cheap.

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About James Johnson
About James Johnson

Expert in Economics, Trading, Investments and Personal Finance. Graduated in 2001 in Business Economics and Management at Harvard University. After several years of working in the foreign exchange trading industry, I co-founded Forex Online Brokers in 2015 with the aim of distributing my personal knowledge and professional experiences in the field of trading and investments in general.