Forex merchant accounts and credit card processing play a key role in the Ecommerce industry. Many processors specialize in this sector, and they offer competitive prices and hassle-free service. Good forex merchant account providers have excellent customer support, low rates, and high approval ratios. Such companies establish good working partnerships with several banks. They have a history of providing online payment solutions to numerous forex businesses. The managers of the companies would provide you full support during every stage of acquiring an account.
The rates for forex merchant account providers for credit card processing vary due to different factors especially monthly turnover. The factors are:
• History of previous transaction
• Volume of monthly processing
Regulations and licenses affect the level of risk. History of previous transactions has a great effect on the rates because they show transparency and clarity. It is very effective for reducing the level of risk. Lower price is possible only when the volume of monthly processing is bigger. Providers review and decrease rates when your volume as a merchant grows.
Every week, many people make money on the forex market. In fact, merchants are making money every day and every hour. It is possible due to forex platforms that are constantly gaining membership. The forex industry is the most rapidly developing industry in the Ecommerce sector. Nowadays, there are over one thousand forex platforms. Each of them has different advantages which is a strategy to attract traders in the industry. However, all forex platforms have many similarities. Customers must deposit money to begin trading.
An important issue is the payout because traders want earnings on the credit card from which they paid earlier. Therefore, choosing a suitable payment provider is crucial. It will solve your issues of payouts and deposits and give you a competitive advantage over others. As a merchant, the benefits you will get from providers are:
• Easy integration
• Fair rates
• Stable gateway
A good forex merchant account provider will provide payouts without delays. You will get payouts according to the agreement on the mentioned bank. Easy integration is completed with customer support which makes the entire process smooth and quick. Your success in the forex industry depends on the prices you are offered. The advanced personal cabinet is a business development tool which is very effective and easy to use. A stable gateway ensures your credit card processing for transactions is interruption-free and smoothly working around the clock.
Good providers would provide you direct merchant accounts because it avoids unwanted consequences and needless risks. You will be the only owner of your forex merchant account.
The process to acquire your merchant account has three steps which are:
• Contacting the provider and being approved
• Accepting payments
Go the website of the forex merchant account provider and fill out the form. The managers of the company are very competent, and they surely contact you within one hour. They settle all the formalities with you which mean you can now accept the payments. You will need to integrate with the provider’s user-friendly API and sign the agreement with a bank. After you are done with the integration process, you can test the transaction gateway. Now you are all set to accept real payments on your forex merchant account.
You will fully control the payments coming through because you will be the only owner of your personal forex merchant account. A problem that merchants face is the claimed aggregated account. It happens when the provider places numerous merchants to achieve desired risk ratio or processing volume. Such a strategy from the provider can harm your account because one of the merchants might cause trouble and all the merchants would suffer. Such risks also have the tendency to increase the rates.
Safety is fundamental when it comes to the forex sector. One cannot make it impossible to cheat on the internet; however, it is possible to prevent it. The technical department of the providers apply necessary security measures for this purpose. The sophisticated settings allow merchants to prevent card fraud. It also ensures that genuine transactions do not get affected. Many companies create new filters and enhance the older ones to intricate the fraud attempts. Some providers have also activated the 3D secure option for accepting credit card payments. The option eliminates payments through stolen cards because it asks for the authentication of the payer.
Many providers are still not using the 3D secure option; therefore, their risk specialists would use other ways for the authentication of the payers. It is necessary for keeping your business safe from trouble. The PCI DSS compliant payment gateway is fully secure. It has an excellent safety level. Providers know that transactions in the forex industry are very big. Therefore, it is very important to have a failsafe gateway.
The fact is that forex business is a high-risk industry due to several complications. As a merchant, you would have to pay a huge amount of upfront money. It sounds unfair, but it is how you would make money. The relief for you would be the excellent solutions for credit card processing. Good forex merchant account providers would offer you everything you need for making profits and driving sales.
Not all providers can provide you the stock brokerage merchant account you need. A high quality stock brokerage merchant account with the option of forex is what you need. On 31 January 2015, CFTC (Commodities Futures Trading Commission) banned the use of credit cards for forex transactions in United States. The members of the National Futures Association welcomed the ban because it would protect forex investors who are ill-informed from mounting debt. Providers acquire offshore banking partners to provide solutions for businesses that have high risk. A problem that merchants face is finding processing solutions due to high risk involved in the forex trade. The good forex merchant account providers establish offshore banking relationships so they can offer services with the best payment processing.