AuthorBy Chris Cammack
Updated: 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.

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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
Blackstone Futures
Min. Deposit
ZAR 1000
4.484.48
Min. Spread
0.60 pips
Fx Pairs
32
Deposit & Withdrawal Methods
Overall Rating
11110.54.48/ 5
AlertAccepts South African Clients. Average spread EUR/USD 0.6 pips on trading account with lowest minimum deposit. Max leverage 400:1. Islamic account available. MT4 and CloudTrade platforms supported. Blackstone Futures is regulated by the FSCA - FSP:49846
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Blackstone Futures is an established FSCA-regulated CFD broker based in Johannesburg, offering clients trading in commodities, cryptocurrencies, equities, energies, Forex, futures, indices, and metals. Blackstone offers ZAR and USD accounts on MT4 and the proprietary CloudTrade platforms – both with STP execution.

While trading costs are low, and spreads are tight and maximum leverage is 400:1, Blackstone Futures restricts traders by offering a limited set of 32 FX pairs. Beginner traders are well-catered with outstanding educational support for beginners, weekly webinars, and in-person Masterclass sessions around South Africa.  Unfortunately while BlackStone Futures caters to Malaysian clients, it does not offer Islamic swap-free accounts.

Pros
  • ZAR accounts
  • Tight spreads
  • Fast and free withdrawals
Cons
  • Limited platform choice
Read More About Blackstone Futures
2
FXTM
Min. Deposit
USD 10
4.174.17
Min. Spread
0.10 pips
Fx Pairs
59
Deposit & Withdrawal Methods
Overall Rating
11110.54.17/ 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 a multi-regulated FSCA registered CFD broker offering clients trading on Forex, cryptocurrencies, indices, metals and stocks. With a complete education and market analysis section, and the unique FXTM Invest copy trading platform, FXTM is plagued by unfavourable trading conditions and platform choice limits on their entry-level accounts and charging withdrawal fees.

Beginners at FXTM will find a good overview of how Forex trading works and the basics of a beginners course in their guides and tutorials, webinars, ebooks, trading glossary and videos that cover beginner and intermediate topics. Daily market analysis will help beginners understand the real-world implications of news events on the Forex market and where the opportunities lie. However, Serious beginners should consider the ECN Account (minimum deposit 500 USD) or the ECN Zero Account (minimum deposit 200 USD) as trading conditions dramatically improve to fall in line with industry averages.

Pros
  • Good for beginners
  • Excellent education
  • Well regulated
  • Low minimum deposit
Cons
  • Expensive withdrawals
Read More About FXTM
3
BDSwiss
Min. Deposit
USD 100
4.324.32
Min. Spread
1 pips
Fx Pairs
50+
Deposit & Withdrawal Methods
Overall Rating
11110.54.32/ 5
AlertAccepts South African Clients. Average spread EUR/USD 1.60 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. BDSwiss is regulated by CySEC, FSC, and the FSA-Seychelles.
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BDSwiss is a European CFD broker regulated by CySEC, the FSC (Mauritius) and the FSA (Seychelles). BDSwiss offers trading on Forex, commodities, shares, indices, and cryptocurrencies. While trading costs on the entry-level Classic account are slightly above the industry average, the trading platform choice and the industry-leading education and market analysis material make up for it. A professional 5000 USD Raw account is also available with industry-competitive trading costs of 8 USD per EURUSD lot traded.

BDSwiss offers MT4, MT5 and a bespoke BDSwiss Web Trader application – the star attraction for new traders – with an intuitive and modern interface, an extended set of technical analysis tools, and advanced charting. The BDSwiss trading academy and market analysis are some of the best in the industry, with structured courses for all levels, frequent strategy webinars, and insightful market analysis headlined by a detailed daily market preview.

Pros
  • Tight spreads
  • Good for beginners
  • Wide range of assets
Cons
  • Expensive withdrawals
  • Limited market analysis
Read More About BDSwiss
4
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 30:1. Islamic account available. MT4 & MT5 platforms supported. AvaTrade Group regulated by ASIC, FSCA, B.V.I FSC & FSA.
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AvaTrade is an internationally and FSCA regulated CFD broker offering trading on Forex, cryptocurrencies, commodities, indices, stocks, bonds and EFTs. AvaTrade has one of the best mobile trading applications in the industry and, unlike many global brokers, offers a local South African customer support team. 

AvaTrade has over 200,000 active traders on the MT4, MT5, and AvaGo platforms and provides free access to trading tools like Autochartist, Duplitrade and AvaProtect, its own innovative risk management system.

While AvaTrade is a dependable broker for beginners, professional traders looking for advanced educational material and industry-leading market research will be underwhelmed.

Pros
  • Good for beginners
  • Well regulated
  • Low minimum deposit
Cons
  • Dealing desk
  • Limited education
Read More About AvaTrade
5
XM
Min. Deposit
USD 5
4.384.38
Min. Spread
0.60 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 30:1. Islamic account available. MT4 & MT5 platforms supported. XM Group regulated by CySEC, ASIC, and the IFSC.
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XM is a reliable multi-regulated CFD broker offering trading in Forex, stocks, commodities, indices, metals, and energies. XM leads the Forex industry in terms of education and market analysis, but with customer service closed on the weekend, beginner traders with technical issues could face difficultly.

With support for MT4 and MT5, trading costs below the industry average on both introductory and professional accounts, and a low minimum deposit of 5 USD (70 ZAR), XM Group stands out from a crowded field of market maker brokers.

Pros
  • Well regulated
  • Excellent education
  • Wide range of assets
  • Fast and free withdrawals
Cons
  • Dealing desk
Read More About XM
6
HotForex
Min. Deposit
USD 5
4.494.49
Min. Spread
0 pips
Fx Pairs
51
Deposit & Withdrawal Methods
Overall Rating
11110.54.49/ 5
AlertAccepts South African Clients. Average spread EUR/USD 1 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. HF Markets Group regulated by the FSCA, FCA, FSC, CySEC and the DFSA.
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HotForex is a global CFD broker with FSCA regulation offering a variety of trading products including Forex, commodities, indices, shares and crypto. Trading conditions are unusually good on the 5 USD (5 USD) introductory account, with fast market execution and competitive spreads. Experienced traders will be interested in HotForex’s professional account with EUR/USD spreads starting at 0 pips pips and a 6 USD commission.

HotForex supports both the MT4 and MT5 platforms and provides 18 trading tools to further assist traders. Unfortunately, access to better trading tools like Autochartist, which other brokers offer as a free service, requires an account balance of 6500 ZAR – well above the required minimum deposit.

HotForex offers a structured beginner course and webinars to help newcomers get started, but customer support is closed on the weekend, leaving novices stranded when they may need help the most.

Pros
  • Low minimum deposit
  • Tight spreads
  • Well regulated
  • Good range of accounts
Cons
  • Limited base currencies
Read More About HotForex
7
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 30:1. 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
8
MarketsX
Min. Deposit
USD 250
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 30:1. 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
9
Exness
Min. Deposit
USD 1
4.324.32
Min. Spread
0.10 pips
Fx Pairs
120
Deposit & Withdrawal Methods
Overall Rating
11110.54.32/ 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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Exness is an FSCA and internationally regulated CFD broker offering trading in Forex, cryptocurrencies and metals. Exness has some of the tightest spreads in the industry and a relatively low minimum deposit, but its selection of financial instruments is limited compared to similar brokers.

Exness has market and instant execution accounts and full support for MT4 and MT5 on both standard accounts. An optional ZAR account is available to South African traders, deposits and withdrawals are free of charge, and customer service is 24/7.

While Exness’ trading costs are well below the industry average, its education and market analysis are poor compared to other major brokers.

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
10
IC Markets
Min. Deposit
USD 200
4.464.46
Min. Spread
0.10 pips
Fx Pairs
60
Deposit & Withdrawal Methods
Overall Rating
11110.54.46/ 5
AlertAccepts South African Clients. Average spread EUR/USD 0.00 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. IC Markets is regulated by CySEC and ASIC.
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IC Markets is an Australian broker offering CFD trading on Forex, commodities, indices, bonds, cryptocurrencies, stocks, and futures. Compared to other ECN brokers, IC Markets has low trading costs, fast execution, and wide trading platform support – with MT4, MT5 and cTrader all available.

IC Markets caters to advanced traders with periodic strategy webinars, advanced analysis tools and a free VPS service for active traders. But – despite its focus on providing great trading conditions – IC Markets fails to deliver a structured course for beginners and Forex education in general is weaker than IC Market’s competitors.

Pros
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • Great platform choice
Cons
  • High minimum deposit
  • Limited market analysis
Read More About IC Markets
11
XTB
Min. Deposit
USD 5
4.144.14
Min. Spread
0.80 pips
Fx Pairs
49
Deposit & Withdrawal Methods
Overall Rating
11110.54.14/ 5
AlertAccepts South African Clients. Average spread EUR/USD 0.50 pips on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & xStation platforms supported. XTB Group is regulated by CySEC, FCA and the IFSC
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Founded in 2002, XTB is a Polish market-maker with tight spreads on a single account and a focus on providing top-class education and market analysis for its clients. Regulated by the FCA, CySEC and the Belize IFSC, XTB offers negative balance protection for all clients and high-speed trading on over 1500 instruments.

XTB recently dropped support for MT4 to focus on its award-winning proprietary platform, xStation 5, which features more modern elements and a more intuitive design than the MetaTrader platforms.

Pros
  • Well regulated
  • Tight spreads
  • Low minimum deposit
  • Good for beginners
Cons
  • Limited platform choice
Read More About XTB
12
IronFX
Min. Deposit
USD 50
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 1000:1. 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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