Like any other high risk industry, the forex business is considered a very complicated one. Forex merchants must pay a huge amount of money upfront to make money. What forex merchants need are exceptional credit card processing solutions. Fortunately, there are merchant account providers that offer reliable and cost-effective services for forex merchant accounts. There are many benefits of forex merchant accounts that enable forex merchants to make profits by driving sales.
Traditional bankers consider the forex industry as a high risk industry; therefore, it is not easy to find merchant account solutions for a forex business. It is hard to find forex merchant account providers for down-to-earth forex payment processing. Forex merchants exchange currencies and provide forex services and products. A challenge they face is the huge investment of capital. It is very difficult to spare the capital, and it is a major reason why most forex companies fail.
Forex merchants must pay very high bank fees when they use conventional merchant accounts with traditional banks. It is because banks label forex business as a high risk business. A very high fee is charged to merchants when a transaction takes place. Now the question arises that why traditional banks charge very high fese to forex merchants for transactions. The answer is very simple. Banks fear they will be held responsible for the loss if the merchant’s business fails.
At this point, you would be wondering why forex merchants choose traditional banks. The reason is the quality of customer service. Forex merchants must provide efficient and reliable payment services to their customers. However, banks still charge high fees to forex merchants. The notion is not valid any more. Forex merchants make a mistake of choosing traditional banks for forex payment processing. The notion is even more invalid in the case of credit card processing.
The right way to make forex profit is to choose Global Pay LTD. It is how forex merchants can make much more profit as compared to using the traditional banks for payment processing. If you are a new forex merchant who seeks a reliable solution for his e-commerce business then you must choose the right forex credit card processing solutions.
A good forex merchant account provider will build long-term partnership with you. They will offer you merchant accounts that are tailored according to your forex business requirements. There are various benefits of using Global Pay LTD for forex credit card processing. Forex merchants get to make more sales, and they can raise profit margins.
There are forex merchant account providers that provide additional services to merchants that have financial needs beyond ordinary forex merchant accounts. It includes:
• Selling stocks
• Forex and stock brokering
• Stock brokerage merchant accounts
The services of the best forex merchant account processors include:
• Solutions that are tailored to high risk industries
• Simpler forex payment gateway setup
• Processing forex payments in multiple currencies
• Live support
• Ramifications of the CFTC’s credit card bans
Forex merchant accounts include offshore credit card processing. The processors work with a variety of offshore banks. It is how processors fulfill the payment processing requirements of merchants in high risk industries. The forex merchant account providers are also cost-effective as compared to traditional banks. Using a credit card payment processor for your forex business has great value. You get merchant services at fair prices and a quality forex payment gateway. The provider finds the most suitable offshore banking partner for you.
It is a big challenge for a forex merchant to integrate a payment gateway into his existing e-commerce website. Your forex merchant account provider helps you with all such technical issues. The tech support of the processor will handle all the difficulties related with the integration of your business website. The PCI guidelines for security are followed for a forex payment processing gateway. The entire process does not take very long time. In fact, your system would be running and accepting payments 48 hours after the approval.
The Forex business involves different currencies; therefore, forex merchants require international payment processing in different currencies. It is why processors design forex merchant accounts to solicit international payments in almost all currencies. The most common currencies for international transactions in the world are Euros, US Dollars, British Pounds etc. Forex merchant account providers usually support up to 160 currencies for exchange.
Good Live Support makes a huge difference to any e-commerce business. Forex merchants need to ask different questions from time to time. Therefore, forex merchant account providers ensure that forex merchants get 24/7 top class Live Support so their forex businesses run smoothly. For this purpose, processors have a separate department which is dedicated to answer all support questions. It is a good idea that merchants inquire about the Live Support before hiring a merchant account services firm.
When forex merchants contact the Live Support, highly trained account managers are there to reply to them. The managers are highly trained and familiar with the need of the forex business. The best credit card processors always have the best Live Support department. New forex merchants should contact the Live Support before getting started. There are many things that you must ask about the merchant services, and it is best that you ask them all relevant information in advance.
Commodities Futures Trading Commission (CFTC) put a ban on credit card payments for domestic forex transactions in January 2015. The decision has adversely affected the businesses of forex merchants in the US. The US Government took the decision for debt protection. The government didn’t want forex investors to assume that there was too much debt. However, the industry leaders are divided on the issue. The decision was welcomed by the National Futures Association, but the individual investors are not happy with the decision, and they look for other options. The solution to this problem is also using forex merchant solutions. The processors use offshore banking partners for forex transactions. They also provide you offshore merchant accounts. The best option for forex merchants is to go for a payment processing gateway that offers all the solutions they need.
Apply for a forex merchant account by clicking the “apply now” link below.