Forex Merchant Account Customized Payment Processing
A forex merchant account is essential for forex trading. In this blog, let us know about forex trading and forex merchant account in detail. With around $5 trillion traded daily, the foreign trade market is one of the biggest/most fluid financial markets nowadays in the world. Forex payment processing businesses have encountered scrutiny, which has made forex merchant account services a high-risk industry.
In turn, this makes it tricky to find payment processing for Forex trading platforms. This blog will split down everything you require to know about forex merchant accounts and describe why we believe. Amald is an amazing option for your forex business.
What Is A Forex Merchant Account?
Forex stands for foreign exchange, and it is the dealing of one currency for another. An example is exchanging a U.S. dollar for a Euro.
Several reasons why Forex merchant accounts are considering high-risk. One of the most common causes is a shortage of track records from new brokerages. When payment processors consider an application, they want to see evidence of a strong business with evolution. A launched brokerage is generally able to make the application and authorization process profitable as they have much high dealing ratios and more effective prestige.
Forex business considered as high-risk
These are major causes that labels Forex payment processing as high-risk:
- Shortage of rules: Because Forex is an international platform, no country has ruled over another country’s currencies. While most trading platforms are permitted, some find issues and are not authorized. Banks/processors view the shortage of regulation as an essential problem, yet they may risk it, as the industry can be completely advantageous. Credit cards are used to fund accounts, and this is done quickly as soon as possible. Amald only supports completely approved and managed Forex merchants established on where they are operating.
- Conceivable chargebacks: Chargebacks plague most high-risk industries as they end up costing not only the merchant but the banks/processors in the long run. When dealing with Forex, there’s a chance of chargebacks from merchants who may have lost money. These merchants who lose may endeavor to renounce explicit transactions by allocating chargebacks.
- Lack of financial documentation: The more attributes you will deliver, the better your merchant account will be involved. Forex merchants will need complete documentation for both personal and business, meaning bank statements for both. If you can’t verify financial information, you will not get a merchant account provider.
- Money Laundering: The Forex industry can be utilized for money laundering, a considerable concern for processors and acquiring banks. Robust anti-money laundering policies can assist in reducing certain risks, and clearly saying any legal/licensing guidelines on your website/app.
Amald Forex Payment Processing Solutions
- Highly Competitive Prices: Amald provides the best quality high-risk credit card processing that is also reasonable. We have transparent prices and also our experience and service.
- High Volume Transactions: We equip the processing ability that your business requires to handle and extend.
- Multicurrency Allowance: Forex merchant accounts provide you with the proficiency to receive payments in all significant currencies.
- Fraud Management Tools: We are convinced that we can lower your chargeback volume via our partner product, eventually tending to minimum prices for your business.
- Concession in fees: In a step to manage 100% clarity with our Forex clients, we offer concession in the application, annual, and set up fees.
- Comprehensive Banking Network: We consider specifying credit card processing between various acquiring banks to lower risk and decrease reliance on a single bank/processor.
- High Tickets: Should you be dealing with expensive courses/software, have no worry. We are capable to adapt VIP dealers who are dealing with large values with comfort. We also have our exclusive payment gateway, precisely created for high volumes and tickets.
- Numerous Payment Methods: You can receive all major credit/debit card brands and add any alternative payment methods internationally.
- Multiple channel Payments: You will also accept payments via MOTO transactions/mobile payments beyond accepting payments online.
- 24*7 Customer Service: We understand the significance of customer service, specifically when trading with high ratios and tickets. At Amald we provide 24/7 customer service that will be always there to answer any questions or concerns you may have.
Apply For A Forex Merchant Account
When you are going to apply for a Forex merchant account, you may encounter many queries about payment processing.
You must always negotiate rates, services, and knowledge among payment processors. When you are applying for your account, the best step you can take is to deliver the payment processing company with as many details as likely about your business. This provides payment processors a significant image of what your business is about and can approve faster.
To apply for a forex merchant account, you will require to deliver the following:
- Financial reports– both personal and business
- Certificate of incorporation
- Merchant’s driving license
- The business’s EIN document
- Business strategy– Optional, but it facilitates the complete image of your business
- Canceled check
Why Trust Amald For Forex Payment Processing?
At Amald, we deliver customized payment processing specified in high-risk industries. We comprehend the forex market properly and understand how to get our clients authorized, stay authorized, and expand into the business they desire to.
Being capable to receive as many records of payments is necessary for Forex traders. Below you will find why Amald is flawless for your Forex business.
- Level 1 PCI-DSS security to assure PCI compliance
- Acquiring banks network
- Specified in high-volume
- VIP payment processing
- Anti-chargeback solutions
- 24/7 customer assistance
- Free technical service
- Increment in sales with alternative payment methods
At Amald, we understand the high-risk business and its factors properly, and we have a profound knowledge of the forex industry and what it carries to expand your business to the successive level.
Moreover, by executing the industry’s greatest forex merchant account and anti-charge back resolutions, we are convinced that we will be an outstanding fit for your business.
If you are already taking credit/debit cards; are just searching for another merchant account, or are examining a new provider completely, we can assist you.