The United Kingdom is the world’s largest forex trading location, with a share of 38% in global turnover. It has around 67 million potential forex traders who are fond of forex trading. In this forex paradise, more brokers desire to utilize the benefits of the market. To solve all the payment-related issues of these entrepreneurs (forex brokers), we are here. We are PayCly, the most trusted forex payment processing firm in Great Britain that provides all payment solutions, such as forex payment gateway, forex merchant account, etc., to forex brokers. FYI, banks and financial institutions (FIs) do not provide payment services to forex brokers since they view the forex business as high-risk.
What is a Forex Merchant Account, and why is it considered High-Risk?
A forex merchant account functions similarly to a commercial bank account by allowing forex brokers to accept, hold, and withdraw funds from their traders. Whereas, a forex payment gateway enables online payment transactions by transferring the payment details between the issuer, acquirer, card company, and forex merchant account.
These are some reasons why the FX market is considered high-risk:
- Higher chargebacks
- Higher chances of fraud
- Ambiguous rules and regulations
- Due to its global nature, no government has jurisdiction over the FX business.
- Due to the huge volume of tickets
Why should you choose PayCly?
PayCly's customer-focused strategy makes us one of the top FX payment processing companies in the United Kingdom (UK). For forex brokers, we provide specialized payment solutions based on their requirements. We provide the lowest MDR prices and the most secure payment environment for forex. Additionally, we offer top-notch security standards, including tokenization, SSL, SET, AVS & CVV checks, and 3D secure authentication, as well as PCI-DSS level-1 compliance. Furthermore, we deploy tier-three chargeback protection measures to protect you from fraudulent claims.
To boost the trading volume of our merchant, we accept payment in more than 150 different foreign currencies and 100 different alternative payment methods. Our payment system is the fastest and provides you with prompt pay-outs (payment settlement). Additionally, we offer both regulated and unregulated businesses forex payment processing services, as well as forex merchant accounts and payment gateways. Additionally, we assign you a personal support manager and 24*7 assistance. Selecting us as your payment partner has a number of benefits, some of which are given below:
In this world’s largest forex trading market, many forex payment providers are offering payment services to forex brokers, but PayCly is what you all require. PayCly is a one-stop solution for all forex-related payment problems. No other PSP can catch up with our services and MDR. We are the best forex payment processors with state-of-the-art services such as forex merchant accounts, credit card processing for forex brokers, offshore merchant accounts and international payment gateway. To get the world’s best forex payment solution let’s connect with our support team at https://paycly.com.
Frequently Asked Questions (FAQ)
1) Is forex trading legal in the United Kingdom?
Yes, it’s completely legal to do forex business in the United Kingdom. Financial Conduct Authority (FCA) is the supervisory authority for all financial services in the United Kingdom. PayCly provides the best forex payment processing to forex brokers in United Kingdom.
2) What other Payment Solutions does PayCly provide?
PayCly is indisputably the best high-risk payment processor providing state-of-the-art high-risk merchant accounts to all high-risk businesses like escort services, adult toys, tobacco, e-cigarettes, online dating, casinos, gambling, fantasy sports, etc. Further, we offer forex merchants the best credit card processing and an international payment gateway. The following is a list of the avant-garde merchant accounts we have created with high-risk and industry-specific features using our expertise.
3) What documents do you need to gather before applying?
- Website URL of your business
- Directors' name and contact details
- Business name & contact details
- Place of operation
- Last three months' business bank account
- Memorandum and Article of association
- The license of business (if applicable)
- Some other documents may be required according to the business