AuthorBy Chris CammackAuthor InformationUpdated: June 25, 2020

Founded in 1999, Neteller is one of the pioneers of the eWallet industry. Available in over 200 countries and handling over 1 billion USD of transactions on an annual basis, Neteller is one of the most popular online payment systems in the world. It operates similarly to another popular eWallet system, Skrill, which is also owned by Neteller’s parent company Paysafe.

Neteller eWallets are easy to open and most Forex brokers accept Neteller deposits and withdrawals. Additionally, most Forex brokers will not charge fees for Neteller withdrawals or deposits, and all funding requests are usually handled instantly.

As most brokers accept Neteller we have compiled a list of the best all-round Forex brokers who offer Neteller as a funding option. Each Forex broker on this list has strict regulation, excellent trading conditions, comprehensive education sections and demo accounts for beginners.

  • AvaTrade - Most Trusted Broker
  • FXTM - Best Trading Conditions
  • XM - Best Trading Platforms
  • HotForex - Most Assets Available
  • FxPro - Best Education
English

Best Forex Brokers Accepting Neteller

Last updated on 25 Jun 2020
Updated 25 Jun 2020
by Editorial Director Chris Cammackby Chris Cammack
Chris Cammack
All Brokers Regulated
All Brokers Regulated
by Trusted Authoritiesby Trusted Authorities
Trusted
1
AvaTrade
Min. Deposit
USD 100
4.184.18
Min. Spread
0.90 pips
Fx Pairs
50+
Deposit & Withdrawal Methods
Overall Rating
11110.54.18/ 5
AlertAccepts South African Clients. Average spread EUR/USD 0.90 pips on trading account with lowest minimum deposit. Max leverage 400:1. Islamic account available. MT4 & MT5 platforms supported. AvaTrade Group regulated by ASIC, FSCA, B.V.I FSC & FSA.
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With over 200,000 active traders around the globe, on both the MetaTrader 4 and AvaGo platforms, and the award for Best Trade Execution 2016 by the African Finance Expo, AvaTrade is a good partner for all types of trader. AvaTrade has built its reputation on being a client-focused, dependable broker, and continues to add to that reputation with the recent addition of AvaProtect to its product lineup.

With great trading conditions across Forex, commodities, cryptocurrencies, ETFs, bonds, and equities and boasting FSCA and ASIC regulation, AvaTrade is competitive with some of the best brokers in the world.

Pros
  • Good for beginners
  • Well regulated
  • Low minimum deposit
Cons
  • Dealing desk
  • Limited education
Read More About AvaTrade
2
FXTM
Min. Deposit
USD 10
4.234.23
Min. Spread
0.10 pips
Fx Pairs
59
Deposit & Withdrawal Methods
Overall Rating
11110.54.23/ 5
AlertAccepts South African Clients. Average spread EUR/USD 1.90 pips on trading account with lowest minimum deposit. Max leverage Flexible. Islamic account available. MT4 & MT5 platforms supported. Leverage offered can vary depending on country of residence, and your trading knowledge and experience. FXTM is regulated by CySEC, FCA, FSCA, and the FSC.
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FXTM is regulated by the FCA, CySEC and the FSCA in South Africa and the educational material offered is first-class. By keeping the focus on beginners looking for reasonable trading conditions, the FXTM team of educators and analysts have succeeded in creating a welcoming environment for new traders. Additionally, FXTM are one of the few brokers with 24/7 support, allowing new traders to get set up on weekends or holidays.

For the absolute beginner, FXTM has a great deal of training material to help new traders get started. Materials include articles, videos, webinars and a searchable glossary of new vocabulary. This is an excellent resource and many hours can be spent covering the basics of Forex Trading. There is an additional set of videos that cover analysis topics, and more detail on chart reading techniques.

FXTM has an open “Daily Market Analysis” section on their website where research analysts post bulletins that connect daily news items with analysis and actionable trading ideas. This can be combined with other sources to achieve a more comprehensive view of global events and the trading opportunities they represent.

The Standard Account has a minimum deposit of 100 USD and spreads start at 1.3 pips. FXTM also offers a Cent Account where the minimum deposit if only 10 USD but the spreads will be wider. If you can afford it, I would recommend starting with the Standard Account.

Pros
  • Good for beginners
  • Excellent education
  • Well regulated
  • Low minimum deposit
Cons
  • Expensive withdrawals
Read More About FXTM
3
XM
Min. Deposit
USD 5
4.384.38
Min. Spread
0.10 pips
Fx Pairs
57
Deposit & Withdrawal Methods
Overall Rating
11110.54.38/ 5
AlertAccepts South African Clients. Average spread EUR/USD 1.60 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. XM Group regulated by CySEC, ASIC, and the IFSC.
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XM Group has achieved substantial growth since 2009, earning 1.5 million clients living in 196 countries. Regulated by three major regulators and the recipient of many industry awards, XM Group stands out from a crowded field of market maker brokers for their customer service and educational support.

XM Group has extensive experience and in-depth knowledge of the global financial markets. XM’s operational philosophy is aimed at client satisfaction and low client turnover; they earn client loyalty through award-winning 24/5 personal customer service, varied account types and competitive trading conditions.

Pros
  • Well regulated
  • Excellent education
  • Wide range of assets
  • Fast and free withdrawals
Cons
  • Dealing desk
Read More About XM
4
HotForex
Min. Deposit
ZAR 70
4.294.29
Min. Spread
0 pips
Fx Pairs
51
Deposit & Withdrawal Methods
Overall Rating
11110.54.29/ 5
AlertAccepts South African Clients. Average spread EUR/USD 1.20 pips on trading account with lowest minimum deposit. Max leverage 1000:1. Islamic account available. MT4 & MT5 platforms supported. HF Markets Group regulated by the FSCA, FCA, FSC, CySEC and the DFSA.
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An STP broker regulated by multiple major authorities including the FCA and CySEC, HotForex has built a reputation among traders for its tight spreads, low fees, and fast market execution. Excellent educational and analytical material is available for both visitors and clients, and customer service is world-class.

Listed as one the Top 100 Companies by World Finance Magazine and with an award for Business Excellence 2015 (World Confederation of Businesses), HotForex is not just celebrated by their industry peers, but also by the financial industry as a whole.

Pros
  • Low minimum deposit
  • Tight spreads
  • Well regulated
  • Good range of accounts
Cons
  • Limited base currencies
Read More About HotForex
5
FxPro
Min. Deposit
USD 100
4.214.21
Min. Spread
0.60 pips
Fx Pairs
70+
Deposit & Withdrawal Methods
Overall Rating
11110.54.21/ 5
AlertAccepts South African Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4, MT5, cTrader and FxPro proprietary trading platform supported. FxPro Group is regulated by FCA, CySEC, FSCA, and the DFSA
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FxPro is one of the most respected Forex brokers in the industry. Regulated by the FCA and CySEC and with over 870,000 client accounts in 173 countries, FxPro is a truly global powerhouse.

FxPro offers a no dealing desk execution model on MT4, MT5, cTrader and a browser-based platform. A reasonable 100 USD opening deposit and outstanding customer service are combined with competitive spreads – often as low as 0.6 pips – to match profitability with security.

Pros
  • Well regulated
  • Great platform choice
  • Tight spreads
Cons
  • Limited education
Read More About FxPro
6
MarketsX
Min. Deposit
ZAR 2500
4.394.39
Min. Spread
0.60 pips
Fx Pairs
50+
Deposit & Withdrawal Methods
Overall Rating
11110.54.39/ 5
AlertAccepts South African Clients. Average spread EUR/USD 0.60 pips on trading account with lowest minimum deposit. Max leverage 300:1. Islamic account available. MT4 & MT5 platforms supported. MarketsX is regulated by CySEC, ASIC, and the FSCA.
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Marketsx is a premium trading platform. It’s operated by Markets.com and offers traders fast, low-cost trading on over 2,200 financial instruments. Marketsx provides CFD trading on global stock, forex, commodity, indices, cryptocurrency, ETF and bond markets. Clients in the UK can also use spread bets on applicable instruments.

The proprietary Marketx trading platform is packed full of features and trading tools and is optimised for lightning execution. As well as in-depth charting and asset comparison tools, Marketsx also gives traders a wealth of decision-supporting data with sentiment tools, tutorials, and regular live-streamed, expert analysis.

Owned by Tradetech Markets (South Africa) Pty Ltd., a subsidiary of Playtech PLC, Markets.com (South Africa) SA is one of the best-recognised Forex brands.

Pros
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • Fast and free withdrawals
Cons
  • High minimum deposit
Read More About MarketsX
7
Exness
Min. Deposit
USD 1
4.124.12
Min. Spread
0.10 pips
Fx Pairs
120
Deposit & Withdrawal Methods
Overall Rating
11110.54.12/ 5
AlertAccepts South African Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 2000:1. Islamic account available. MT4 & MT5 platforms supported. Exness is regulated by CySEC, FCA, and the FSC.
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Founded in 2008, Exness is a well-regulated broker with tight spreads and unlimited leverage on a specialist zero account.  With both market and instant execution methods and full support for both MT4 and MT5, there is little to find fault with here – including its well-publicised sponsorship of Real Madrid.

Exceptionally, customer service is available 24/7 and most traders will find something to like from the wide range of account types.

Pros
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • 24/7 customer service
Cons
  • Limited education
  • Limited market analysis
  • Unavailable in Europe
Read More About Exness
8
IC Markets
Min. Deposit
USD 200
4.264.26
Min. Spread
0.10 pips
Fx Pairs
60
Deposit & Withdrawal Methods
Overall Rating
11110.54.26/ 5
AlertAccepts South African Clients. Average spread EUR/USD 0 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4, MT5 & cTrader platforms supported. IC Markets is regulated by CySEC and ASIC.
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A hugely respected ECN broker, IC Markets has invested heavily to provide traders with the lowest spreads and fastest execution speeds possible – and has seen huge success as a result. ASIC and CySEC regulated and with support for MT4, MT5 and cTrader, this broker is serious about providing the best possible trading environment for its client base. 

Headquartered in downtown Sydney, IC Markets represents the best of the Australian Forex industry; beginner traders will welcome IC Markets’ simple account structure and responsive and informed customer service; the company understands customer retention involves a combination of tight spreads, cutting edge technology, fast trade execution and specialised support. 

Pros
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • Great platform choice
Cons
  • High minimum deposit
  • Limited market analysis
Read More About IC Markets
9
XTB
Min. Deposit
USD 5
4.294.29
Min. Spread
0.10 pips
Fx Pairs
49
Deposit & Withdrawal Methods
Overall Rating
11110.54.29/ 5
AlertAccepts South African Clients. Average spread EUR/USD 0.80 pips on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & xStation platforms supported. XTB Group is regulated by CySEC, FCA and the IFSC
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Well-regulated, safe and award-winning, XTB is a leader in the Forex trading space. Joining other leading Forex brokers with reasonable trading conditions, excellent educational and analysis material XTB has developed an award-winning proprietary trading platform that goes beyond MT4 to offer clients easy-to-use functionality along with fast execution speeds.

Pros
  • Well regulated
  • Tight spreads
  • Low minimum deposit
  • Good for beginners
Cons
  • Limited platform choice
Read More About XTB
10
IronFX
Min. Deposit
USD 100
4.194.19
Min. Spread
0 pips
Fx Pairs
85
Deposit & Withdrawal Methods
Overall Rating
11110.54.19/ 5
AlertAccepts South African Clients. Average spread EUR/USD 0.2 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. Only MT4 platform supported. IronFX is regulated by CySEC, FCA, ASIC, and the FSCA - FSP:45276.
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IronFX, a brand of Notesco, was founded in 2010 with the goal of creating a trading company bringing together customized trading functionality, the widest suite of trading products, the best pricing, execution and liquidity.

Regulated incomparably better than most brokerages including the ASIC, the FCA, CySEC and the FSCA, and offices in over 50 countries around the world and 30 languages spoken by customer service, IronFX has taken their product offering to a global audience.

Pros
  • Well regulated
  • Tight spreads
  • Wide range of assets
Cons
  • Expensive withdrawals
Read More About IronFX

How to use Neteller to Fund a Forex Trading Account

Before you use Neteller to fund your Forex trading account you will need to open and fund a Neteller eWallet.

Opening a Neteller eWallet is a simple process requiring only your name, email address and a password. Once you have opened the eWallet, you will need to fund it via your bank account, credit/debit card or epayment system.

Neteller works with many international banks and transfer methods, as well as the Visa payment system. All funding methods are charged at 2.5%, unless you deposit more than 20,000 USD, in which case all fees are waived.

Neteller Funding Options

Once you have a funded account, Neteller offers three methods of electronic payments via its eWallet

  1. Direct payments via the Neteller wallet (as is the case with most brokers)
  2. With the Net+ Mastercard (this can also be used for daily transactions)
  3. Via transfer to a verified bank account

The most common method of funding a trading account is via direct payment from your Neteller eWallet. You start this process on the Forex broker’s website, before being redirected to your Neteller eWallet to verify the transaction.

Neteller also offers the Net+ Mastercard, which functions exactly like a normal Mastercard debit card and is linked to your Neteller eWallet. This can be used as a normal debit card when funding your account if you prefer this method.

Advantages of Funding Your Trading Account with Neteller

There are three major advantages of using Neteller to fund your trading account:

  • Security: Neteller transactions are generally very secure, requiring 2-factor authentication.
  • Instant Funding: instant deposit and withdrawal that most brokers will support with Neteller transactions. This allows traders to instantly fund their accounts and make a trade if they spot a good opportunity.
  • Free Funding: In most cases (but not all) Forex brokers will not charge any fees for withdrawals or deposits made with Neteller.

Final Word

Neteller, and its stablemate Skrill, are the easiest and most efficient ways of funding a Forex trading account.

Most brokers will charge fees for bank transfers and credit/debit card payment and withdrawals. Even worse, deposits and withdrawals via bank transfer and credit/debit cards often takes a few days for brokers to process.

To avoid the fees and processing times, we recommend that all serious Forex traders use Neteller to fund their accounts.

Forex Risk Disclaimer

Trading Forex and CFDs is not suitable for all investors as it carries a high degree of risk to your capital: 75-90% of retail investors lose money trading these products. 

Forex and CFD transactions involve high risk due to the following factors: Over-leveraging, unpredictable market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection for clients.

Traders should not deposit any money that is not disposable. Regardless of how much research you have done, or how confident you are in your trade, there is always a substantial risk of loss. (Learn more from the FCA or from ASIC)

Our Methodology

Our State of the Market Report and Broker Directory are the result of extensive research on over 100 Forex brokers. The explicit goal of these resources is to help traders find the best Forex brokers – and steer them away from the worst ones – with the benefit of accurate and up-to-date information.

With over 150 data points on each broker and over 3000 hours of research and review writing, we believe we have succeeded in our goal. 

In a world where trading conditions and customer support can vary based on where you live, our broker reviews focus on the local trader and give you information about these brokers from your perspective.

All research has been conducted by our in-house team of researchers and writers, gathering information from various company representatives, websites and by sifting through the fine print. Learn more about how we rank brokers

References

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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