8 Best Wire Transfer Forex Brokers for 2024

FP Markets is authorized and regulated by ASIC, FSCA, snd CySEC, but also has one unregulated entity based offshore. Founded in 2005 in Sydney, Australia, it allows wire transfers in 6 currencies with zero fees, provides access to forex ECN accounts for low spreads and permits trading from the MT4, MT5 and cTrader platforms, which makes FP Markets the best overall broker to consider.

Key Features:

• Accepts bank wire transfers in AUD, USD, EUR, GBP, SGD, CAD
• Zero fees for deposits and withdrawals
• Time to deposit: 1 business day
• Time to withdraw: up to 5 days, 1 day for AUD
• Additional payment options: Visa, Mastercard, Neteller, Skrill, PayPal, POLi, FasaPay and PayTrust88

FP Markets offers a great range of tools and products that provide an overall excellent trading experience. I appreciated the fact that FP Markets facilitates the use of forex ECN pricing trading accounts, enabling you to benefit from tight, competitive spreads.

I was particularly impressed with the number of available trading platforms. I found that you can trade from MT4, MT5 and cTrader. These are the go-to forex trading platforms in the industry and come packed with lots of features such as in-built technical analysis indicators and drawing tools.

I also found that you can access a good range of trading tools such as Trading Central and AutoChartist. These tools provide real-time trading ideas based on technical analysis patterns which, from my own personal experience, can be a great addition to your trading arsenal.

During the course of our live fee test, we found that there are zero fees for deposits but only up to 50 USD is covered for international deposit fees for accounts greater than 10,000 USD.

Founded in 2007, IC Markets is authorized and regulated by the FSA Seychelles, CySEC, SCB and ASIC and has some of the best fees in the industry. This includes zero wire transfer fees in 9 currencies, raw pricing low spread trading accounts with low fees and zero requotes.

Key Features:

• Accepts bank wire transfers in AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD, CHF
• Zero fees for deposits and withdrawals
• Time to deposit: 2 – 5 business days
• Time to withdraw: 24 hours (but can be up to 14 days for international wires)
• Additional payment options: Visa, Mastercard, Skrill, Neteller, UnionPay, Bpay, POLI, Rapidpay and Klarna

If you’re looking for rock bottom fees, then IC Markets could be an option for you. I found that the broker not only offers zero fees for deposits and withdrawals, but also provides some of the best trading fees in the business.

During the course of our live fee test, I discovered the spread for EUR/USD during the London and New York sessions averaged 0.65 pips, which is well below – nearly half – of the industry average of 1.0 pips on a commission-free trading account.

I also found that you can access even better spreads from the cTrader Raw Spread account, where spreads on EUR/USD start from 0.0 pips and average around 0.1 pips during the most active sessions. There is a commission of 3 USD per lot, per side, which is better than the industry average of 3.50 USD per lot, per side.

As IC Markets provides services geared towards high-frequency, algorithmic traders, there are also no requotes or minimum order distance restrictions which means you can place orders as close to the market price as you want – a unique feature in the industry.

Established in 2012, BDSwiss offers a top cryptocurrency trading experience with access to 26 leveraged cryptos, which can be traded from MT4, MT5 or the BDSwiss WebTrader platform. Authorized and regulated by FSA Seychelles and FSC Mauritius, BDSwiss accepts wire transfers in 8 currencies, free of charge.

Key Features:

• Accepts bank wire transfers in EUR, USD, GBP, PLN, CHF, SEK, DKK and NOK.
• Zero fees for deposits and withdrawals
• Time to deposit: 1 – 4 business days
• Time to withdraw: 24 – 48 hours
• Additional payment options: Visa, Mastercard, Skrill, Neteller, AstroPay, GlobePay, KoraPay, Airtel and others.

If you’re interested in trading cryptocurrencies then you may like to know that BDSwiss offers 26 of the top major coins and altcoins to trade on via CFDs. This includes crypto pairs such as BTC/USD, ETH/USD, MANA/USD, LTC/USD, NEO/USD, SOL/USD and many others.

CFDs allow you to trade long and short to potentially profit from rising and falling markets. This product also allows you to use leverage. During our live test of BDSwiss, I found that you can trade most crypto CFDs with 20% leverage. This means you only need to put up 20% of the total trade value to open a position. I also found there are no commissions to buy or sell, and also no overnight fees to pay, making BDSwiss a top destination for crypto trading.

Founded in 1996, Swissquote is a top broker to consider for professional traders. Authorized and regulated by Switzerland’s FINMA, you can trade multiple asset classes from MT4, MT5, and Advanced Trader using additional plugins such as Trading Central and AutoChartist. Furthermore, it provides access to robo-advisory services, credit solutions and a Swiss bank account with a personal IBAN number.

Key Features:

• Accepts bank wire transfers in CHF, EUR, USD, AED, AUD, CAD, CZK, DKK, GBP, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RUB, SEK, SGD, THB, TRY and ZAR.
• Zero deposit fee
• Withdrawal fee: 2 CHF, 10 EUR/USD/GBP, 20 AUD
• Time to deposit and withdraw: up to 1 working day
• Additional payment options: Visa and Mastercard.

If you are a professional trader looking for a wide range of markets, platforms, tools and services, then Swissquote could be an option for you. From our live test, I found that you can trade from the MT4 and MT5 trading platforms and access more than 450+ financial instruments covering forex, stocks, indices, commodities, bonds and FX options.

There is also the option of trading with Swissquote’s web-based platform called Advanced Trader. From testing this platform live, I particularly enjoyed how clean and responsive the charting was for a web platform and was impressed with an array of 120+ technical indicators and drawing tools available.

However, where Swissquote particularly shines for professional traders is in its selection of tradable instruments. The broker provides access to 3 million tradable products from the Swissquote web platform, including stocks, ETFs, private equity, options, futures, cryptocurrencies, IPOs, money markets, mutual funds and more.

Given this product diversity, alongside the provision of a Swiss online banking platform with a personal IBAN, Swissquote is an exceptional broker for those seeking a professional trading experience.

Founded in 2020, FlowBank has quickly become one of the leaders of Swiss bank’s offering services to retail traders. Authorized and regulated by Switzerland’s FINMA, the broker offers the opportunity to trade more than 50,000+ financial instruments from the MT4, MT5 and FlowBank Pro trading platforms, while accessing a range of impressive research tools.

Key Features:

• Accepts bank wire transfers in USD, EUR, AED, AUD, CAD, CHF, CZK, DKK, GBP, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, SEK, SGD, THB, TRY and ZAR.
• Zero deposit and withdrawal fees
• Time to deposit and withdraw: up to 4 working days
• Additional payment options include Visa and Mastercard.

If you are looking to trade with the safety of a Swiss bank provides, and prioritize a large range of asset classes that can be traded on multiple trading platforms then FlowBank could be an option for you. During the course of our test, I found the standard FlowBank and FlowBank Pro platforms to provide some very interesting features for traders.

The FlowBank Pro platform is the bank’s most sophisticated platform and is geared towards advanced traders. As a professional trader myself, I was impressed by the amount of tools and features the platform provides. This includes an easy to access watchlist for its 50,000+ markets, a market depth tool to identify trading volume around different price levels and a basket trader tool for building a hedged portfolio, as well as the ability to create simple and complex options chains.

Beginner traders may prefer the standard FlowBank platform which you can use via a web browser or mobile trading app. This means you can manage your account from any of FlowBank’s platforms as they are all synced together which is great when trading on the go on your mobile and then wanting to trade on your laptop.

Another interesting feature is FlowBank’s monthly cash CFD rebates. If your trade volume is between 50 – 200 million CHF in a month you can receive a rebate of 3 CHF per 1 million traded in the next month. So, if you managed to trade another 200 million CHF in volume in the next month you would receive 600 CHF as a rebate (200 * 3 = 600).

AvaTrade was founded in 2005 and is authorized and regulated by CySEC, ASIC, DBI, ISA, FSCA, BVI FSC, FSA Japan and FSRA Abu Dhabi. With zero fee wire transfers, commission-free trading accounts, a great range of educational materials and risk management tools, it represents a good option for beginners.

Key Features:

• Accepts bank wire transfers in EUR, USD, GBP, AUD
• Zero deposit and withdrawal fees
• Time to deposit: up to 7 days
• Time to withdraw: 24 – 48 hours processing, up to 10 days to receive
• Additional payment options: Visa, Mastercard, Neteller, Skrill and WebMoney.

If you are a beginner trader, then you may like to know that AvaTrade offers the use of a free demo trading account, that gives you an opportunity to practice your skills in a virtual trading environment risk-free. If you are ready for a live account, then you can use a commission-free trading account, where the majority of the costs are included in the spread, making your life a lot easier.

During our live test, I was particularly impressed with AvaTrade’s risk management tool called AvaProtect. This tool allows you to get your money back on losing trades. You set the protection in advance for a small fee, which acts like a hedge. If your trade loses during this protection period, AvaTrade will cover the loss.

I found the AvaProtect feature is only available on AvaTrade’s web and mobile platform for forex, gold and silver markets. If you prefer to trade on MT4, then there is the AvaGuardian Angel plugin for the platform which can help you to identify your mistakes and help to boost your confidence in trading.

With a range of extensive educational materials such as videos, eBooks and courses AvaTrade is a top choice to consider for beginner traders.

Founded in 1974, the IG Group is publicly listed on the London Stock Exchange. IG US, which launched in 2019, is registered with the CFTC and is a member of the NFA. Offering margin-based forex trading, IG US provides access to over 80 spot forex pairs through an excellent range of trading platforms.

Key Features:

• Accepts bank wire transfers in USD
• Zero deposit fee
• Withdrawal fee: $15
• Time to deposit: 1 business day
• Time to withdraw: 24 hours
• Additional payment options: Debit card, ACH

IG US offers an impressive range of spot forex pairs, including majors, minors, exotics, and emerging market currencies with impressive margin rates. For EUR/USD, US traders only require a 2% margin. With $2,000, you can open a position worth $100,000, which is better than what non-US traders are offered.

During our live fee test, I found the spread for EUR/USD averaged 0.8 pips, beating the industry average of 1.0 pips for a commission-free trading account. High-volume traders can also access spread rebates. For example, you can receive 5% back on your spreads if you trade more than $100 million in notional value monthly.

The broker offers three trading platforms, including IG Web Trader, MT4, and ProRealTime. I find the IG proprietary platform an excellent way to trade the market. With a user-friendly design, fully customizable features and built-in trading signals from Autochartist, it’s worthwhile exploring for beginner and advanced traders.

The Plus500 Group was founded in 2008 and is a publicly traded company on the London Stock Exchange. In 2022, it launched its Futures Trading App for US residents, offering access to a wide range of futures markets with zero platform and routing fees.

Key Features:

• Accepts bank wire transfers in USD
• Zero deposit and withdrawal fees
• Time to deposit: 1 business day
• Time to withdraw: 1 – 3 business days
• Additional payment options: Debit card, ACH

During our live test, I found that the Plus500 Futures Trading app offers an excellent selection of futures markets covering asset classes such as forex, metals, crypto, interest rates, energy, agriculture, and equity indices. There is a mix of standard and mini contracts with zero platform and routing fees.

The Plus500 Futures Trading Academy offers a fantastic selection of educational materials. This includes videos covering key terminology, understanding futures contracts, and tips on using futures trading strategies. The articles are well-written, in-depth, and worth exploring.