The forex (FX) market is the largest and most liquid market in the entire world. The volume of trade has increased by 14% to a record $7.5 trillion daily, according to the Bank for International Settlements (BIS). Forex trading, also known as foreign exchange or FX trading, is the exchange of foreign currencies. The term "forex market" refers to a well-established market where one country's currencies are traded in another country's currencies. Previously, forex trading was restricted to banks and financial institutions, but it was later made available to retailers. This was a progressive step forward in the expansion of the FX market because it allowed individuals to trade and benefit from the world's largest market.
The United Arab Emirates (UAE) was one of the first nations to build the FX market's supporting infrastructure. It offers a comprehensive regulatory framework and flexible operational options with a variety of legal entities to both domestic and foreign investors. The development of the internet and understanding of the digital world greatly impacted the rise of retail FX trading. Nowadays, retail FX trading involves billions of people worldwide. Dubai is one of the top places where forex trading is booming. This is when a merchant must look forward to creating its forex trading platform with the help of PayCly. To accept payment from traders, you need a forex merchant account and a forex payment gateway integrated with your forex trading platform.
A forex merchant account is a type of business account that offers payment solutions to forex firms and brokers. Forex trading platforms and brokers typically use it because it allows them to accept international payments via various payment methods, including credit cards and crypto, from their clients for trading. Pay attention to the fact that forex is considered high-risk for many reasons, which is why conventional banks and financial institutions do not offer forex merchant accounts to forex brokers.
However, you need not panic since PayCly is here to help you. We are the leading payment service provider (PSP) that gives forex traders and trading platforms the best Forex Merchant Account. A forex merchant account is actually a high-risk international merchant account with all of the features that are unique to forex.
Forex trading is a high-risk industry that operates around the clock. When choosing a payment service provider (PSP), it is necessary to consider whether its credentials satisfy your forex needs. The forex broker payment gateway and forex trading merchant account must have a few unique features to meet the forex merchant's needs. The following are the essential aspects to consider before selecting a PSP:
The foreign exchange market is an international market. Any customer from any country can trade in the forex market at any time. Every region and nation has its own payment choice, so a forex payment processing company must offer its merchant as many payment modes as possible, including credit card processing for forex, net banking, crypto settlement, and so on.
Since forex traders conduct business with clients from all over the world, they must support multiple currencies. When a customer creates an account on your app, he must be given the local currency option along with other payment options so that he may simply add money and trade via your app or website. Payments in many currencies must be accepted via an international payment gateway for forex brokers; this feature fosters greater client retention.
The FX market carries a higher risk of chargebacks and fraud than other markets, so the merchant should choose a PSP with excellent fraud protection. To increase the security of a merchant's account, a PSP must provide anti-fraud algorithms and systems that identify, assess, and ascertain fraudulent transactions.
On the currency market, every millisecond counts. As currency prices fluctuate regularly on the forex market, transactions must be done instantly and without delay. One-click transactions encourage customers to make additional trades and help you boost your revenue.
Because the forex market operates 24 hours a day, a forex trading merchant account provider must provide 24-hour customer service. Customer service should be responsive to any issues in a timely manner and be available in a variety of languages.
The fact that we offer our services to both regulated and unregulated forex brokers with 100 percent confidentiality is one of the essential advantages of choosing PayCly. PayCly offers considerable leverage, chargeback protection, and top-notch security features to ensure that no customer commits fraud against merchants.
PayCly's merchant account is fully customized. With our plug-ins, we are prepared to integrate any function you wish. We provide the merchant with simple integration and specialized services. In comparison to our competitors, our MDR, transaction, and other fee structures are the lowest in the market. We have a global presence, support more than 100 payment methods and 150 different currencies, and provide you with multilingual service.
In fact, we believe that our Forex Merchant Account is suitable for newly founded forex firms because it requires the least paperwork. You receive instant approval for a forex merchant account. These are the standout advantages that we provide you:
Foreign companies have many opportunities to transact in the UAE in forex, CFDs, and binary options. UAE is one of the major financial hubs in the Middle East; Dubai and the other Emirates of the United Arab Emirates (UAE) are the starting point for many forex traders, brokers, and other online trading activities. We can clearly say that the forex market is booming in the UAE. In this booming market, you need a PSP that offers a forex merchant account and a forex payment gateway with all the essential features. After examining several forex payment processors, we concluded that PayCly is what you all require. We customized our services to meet your specific requirements. Our forex merchant account is an ideal combination of an international payment gateway and a high-risk merchant account, as both are necessary for forex trading. We advise choosing PayCly. Visit us at https://paycly.com for more details.
A payment gateway is a technology that conducts financial transactions by transmitting payment information safely. However, a merchant account works more like a bank account and accepts, retains, and withdraws the money that the customer credits. PayCly offers various payment options, such as high-risk merchant accounts and international payment gateways.
PayCly offers every payment solution that a company may need. Along with payment gateways, we provide a wide range of payment services, such as high-risk merchant accounts, offshore merchant accounts, and credit card processing (card not present payment). PayCly supports both regulated and unregulated firms, and we've developed a few merchant accounts with high-risk characteristics and industry-specific features. We have a wealth of experience providing payment gateways and merchant accounts to the following sectors:
| Casino Merchant Account | Forex Merchant Account |
| E-Commerce Merchant Account | Fantasy Gaming Merchant Account |
| Escort Merchant Account | Adult Toys Merchant Account |
| Dating Merchant Account | E-Cigarettes Merchant Account |
| Tobacco IPTV Merchant Account | SMM Panel Merchant Account |
