Best Payoneer Forex Brokers
Written by BrokerNotes.co
Benefits of Choosing a Broker that accepts Payoneer
Online payment service providers are becoming more popular, and Forex brokers are continuing to expand their range of accepted payment methods to fund trading accounts. Amongst the most popular are PayPal and Skrill ; payment gateways that are widely accepted by many brokers in the UK. Payoneer does not work with Forex brokers, however, they do offer a prepaid MasterCard which can be used at any online Forex broker that accepts MasterCard payments.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Best Payoneer Forex Brokers
Here are the best forex brokers offering a wide variety of payment options such as Payoneer.
-
IG
- 9.9/10 Overall
- CMC Markets - 9.6/10 Overall
-
FOREX.com
- 9.4/10 Overall
- XTB - 9.1/10 Overall
- City Index - 9.3/10 Overall
- Swissquote - 8.8/10 Overall
- eToro - 8.8/10 Overall
- AvaTrade - 8.7/10 Overall
- Admiral Markets - 8.5/10 Overall
Overall Rating
Minimum Deposit
Trust Score
| Average Spread EUR/USD - Standard | 0.98 |
| All-in Cost EUR/USD - Active | 0.82 |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | No |
| Visa/Mastercard (Credit/Debit) | Yes |
| Year Founded | 1974 |
| Publicly Traded (Listed) | Yes |
| Bank | Yes |
| Tier-1 Licenses | 8 |
| Tier-2 Licenses | 2 |
| Forex Trading (Spot or CFDs) | Yes |
| Mobile Trading - Forex or CFDs | Yes |
| Tradeable Symbols (Total) | 19537 |
| Forex Pairs (Total) | 97 |
| Bitcoin | Yes |
| Virtual Trading (Demo) | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | No |
| Proprietary Platform | Yes |
| Social Trading / Copy Trading | No |
| Charting - Indicators / Studies (Total) | 33 |
| Android App | |
| Apple iOS App | Yes |
| Education (Forex or CFDs) | Yes |
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | Yes |
| Economic Calendar | Yes |
Overall Rating
Minimum Deposit
Trust Score
| Average Spread EUR/USD - Standard | 0.51 |
| All-in Cost EUR/USD - Active | 0.51 |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | No |
| Visa/Mastercard (Credit/Debit) | Yes |
| Year Founded | 1989 |
| Publicly Traded (Listed) | Yes |
| Bank | No |
| Tier-1 Licenses | 5 |
| Tier-2 Licenses | 1 |
| Forex Trading (Spot or CFDs) | Yes |
| Mobile Trading - Forex or CFDs | Yes |
| Tradeable Symbols (Total) | 12074 |
| Forex Pairs (Total) | 156 |
| Bitcoin | Yes |
| Virtual Trading (Demo) | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | No |
| Proprietary Platform | Yes |
| Social Trading / Copy Trading | Yes |
| Charting - Indicators / Studies (Total) | 79 |
| Android App | |
| Apple iOS App | Yes |
| Education (Forex or CFDs) | Yes |
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | Yes |
| Economic Calendar | Yes |
Overall Rating
Minimum Deposit
Trust Score
| Average Spread EUR/USD - Standard | 1.4 |
| All-in Cost EUR/USD - Active | 1.0 |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | No |
| Visa/Mastercard (Credit/Debit) | Yes |
| Year Founded | 1999 |
| Publicly Traded (Listed) | Yes |
| Bank | No |
| Tier-1 Licenses | 7 |
| Tier-2 Licenses | 1 |
| Forex Trading (Spot or CFDs) | Yes |
| Mobile Trading - Forex or CFDs | Yes |
| Tradeable Symbols (Total) | 5500 |
| Forex Pairs (Total) | 91 |
| Bitcoin | Yes |
| Virtual Trading (Demo) | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
| Proprietary Platform | Yes |
| Social Trading / Copy Trading | No |
| Charting - Indicators / Studies (Total) | 88 |
| Android App | |
| Apple iOS App | Yes |
| Education (Forex or CFDs) | Yes |
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | Yes |
| Economic Calendar | Yes |
Overall Rating
Minimum Deposit
Trust Score
| Average Spread EUR/USD - Standard | 1.07 |
| All-in Cost EUR/USD - Active | 1.04 |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | Yes |
| Visa/Mastercard (Credit/Debit) | Yes |
| Year Founded | 2002 |
| Publicly Traded (Listed) | Yes |
| Bank | No |
| Tier-1 Licenses | 2 |
| Tier-2 Licenses | 2 |
| Forex Trading (Spot or CFDs) | Yes |
| Mobile Trading - Forex or CFDs | Yes |
| Tradeable Symbols (Total) | 6010 |
| Forex Pairs (Total) | 57 |
| Bitcoin | Yes |
| Virtual Trading (Demo) | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | No |
| Proprietary Platform | Yes |
| Social Trading / Copy Trading | Yes |
| Charting - Indicators / Studies (Total) | 39 |
| Android App | |
| Apple iOS App | Yes |
| Education (Forex or CFDs) | Yes |
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | Yes |
| Economic Calendar | Yes |
Overall Rating
Minimum Deposit
Trust Score
| Average Spread EUR/USD - Standard | 1.4 |
| All-in Cost EUR/USD - Active | 0.74 |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | No |
| Visa/Mastercard (Credit/Debit) | Yes |
| Year Founded | 1983 |
| Publicly Traded (Listed) | Yes |
| Bank | No |
| Tier-1 Licenses | 7 |
| Tier-2 Licenses | 1 |
| Forex Trading (Spot or CFDs) | Yes |
| Mobile Trading - Forex or CFDs | Yes |
| Tradeable Symbols (Total) | 13500 |
| Forex Pairs (Total) | 84 |
| Bitcoin | Yes |
| Virtual Trading (Demo) | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | No |
| Proprietary Platform | Yes |
| Social Trading / Copy Trading | Yes |
| Charting - Indicators / Studies (Total) | 88 |
| Android App | |
| Apple iOS App | Yes |
| Education (Forex or CFDs) | Yes |
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | Yes |
| Economic Calendar | Yes |
Overall Rating
Minimum Deposit
Trust Score
| Average Spread EUR/USD - Standard | N/A |
| All-in Cost EUR/USD - Active | N/A |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | Yes |
| Visa/Mastercard (Credit/Debit) | Yes |
| Year Founded | 1996 |
| Publicly Traded (Listed) | Yes |
| Bank | Yes |
| Tier-1 Licenses | 5 |
| Tier-2 Licenses | 1 |
| Forex Trading (Spot or CFDs) | Yes |
| Mobile Trading - Forex or CFDs | Yes |
| Tradeable Symbols (Total) | 472 |
| Forex Pairs (Total) | 78 |
| Bitcoin | Yes |
| Virtual Trading (Demo) | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
| Proprietary Platform | Yes |
| Social Trading / Copy Trading | Yes |
| Charting - Indicators / Studies (Total) | 49 |
| Android App | |
| Apple iOS App | Yes |
| Education (Forex or CFDs) | Yes |
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | Yes |
| Economic Calendar | Yes |
Overall Rating
Minimum Deposit
Trust Score
| Average Spread EUR/USD - Standard | 1 |
| All-in Cost EUR/USD - Active | N/A |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | Yes |
| Visa/Mastercard (Credit/Debit) | Yes |
| Year Founded | 2007 |
| Publicly Traded (Listed) | No |
| Bank | No |
| Tier-1 Licenses | 3 |
| Tier-2 Licenses | 0 |
| Forex Trading (Spot or CFDs) | Yes |
| Mobile Trading - Forex or CFDs | Yes |
| Tradeable Symbols (Total) | 3479 |
| Forex Pairs (Total) | 52 |
| Bitcoin | Yes |
| Virtual Trading (Demo) | Yes |
| MetaTrader 4 (MT4) | No |
| MetaTrader 5 (MT5) | No |
| Proprietary Platform | Yes |
| Social Trading / Copy Trading | Yes |
| Charting - Indicators / Studies (Total) | 104 |
| Android App | |
| Apple iOS App | Yes |
| Education (Forex or CFDs) | Yes |
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | No |
| Economic Calendar | Yes |
Overall Rating
Minimum Deposit
Trust Score
| Average Spread EUR/USD - Standard | 0.92 |
| All-in Cost EUR/USD - Active | 0.61 |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | Yes |
| Visa/Mastercard (Credit/Debit) | Yes |
| Year Founded | 2006 |
| Publicly Traded (Listed) | No |
| Bank | No |
| Tier-1 Licenses | 4 |
| Tier-2 Licenses | 3 |
| Forex Trading (Spot or CFDs) | Yes |
| Mobile Trading - Forex or CFDs | Yes |
| Tradeable Symbols (Total) | 1260 |
| Forex Pairs (Total) | 55 |
| Bitcoin | Yes |
| Virtual Trading (Demo) | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
| Proprietary Platform | Yes |
| Social Trading / Copy Trading | Yes |
| Charting - Indicators / Studies (Total) | 80 |
| Android App | |
| Apple iOS App | Yes |
| Education (Forex or CFDs) | Yes |
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | Yes |
| Economic Calendar | Yes |
Overall Rating
Minimum Deposit
Trust Score
| Average Spread EUR/USD - Standard | 0.8 |
| All-in Cost EUR/USD - Active | 0.7 |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | Yes |
| Visa/Mastercard (Credit/Debit) | Yes |
| Year Founded | 2001 |
| Publicly Traded (Listed) | No |
| Bank | No |
| Tier-1 Licenses | 4 |
| Tier-2 Licenses | 2 |
| Forex Trading (Spot or CFDs) | Yes |
| Mobile Trading - Forex or CFDs | Yes |
| Tradeable Symbols (Total) | 6942 |
| Forex Pairs (Total) | 80 |
| Bitcoin | Yes |
| Virtual Trading (Demo) | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
| Proprietary Platform | Yes |
| Social Trading / Copy Trading | Yes |
| Charting - Indicators / Studies (Total) | 30 |
| Android App | |
| Apple iOS App | Yes |
| Education (Forex or CFDs) | Yes |
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | Yes |
| Economic Calendar | Yes |
What is Payoneer?
A Payoneer account provides a means for receiving money transfers from businesses around the world. Payoneer also offers a payments solution for businesses to make and receive payments. The company was founded in 2005 in New York and has since then risen to be ranked in the top 100 financial services companies worldwide. According to their website, their goal is to empower their customers so they can grow their businesses, enabling them to make and receive payments globally and confidently. Payoneer works with many major marketplaces and networks to provide payments for services, such as Fiverr, Amazon, Airbnb, iStock, and Google Trusted Stores. Small and medium-sized enterprises looking to connect to their own trading partners and customers can also benefit from their range of services.
Payoneer services
Payoneer makes it easy for individuals to receive money transfers from companies across borders, and for businesses to pay for services and goods from freelancers and other providers from around the world. The payment services are available in most countries and in over 150 different currencies. The payment solutions are fast and flexible and are suitable for a range of different customers, all of which are treated with the same level of efficiency. From freelance travel bloggers to large multinational corporations, Payoneer’s global money transfer services have already been trusted by 4 million users.
The charges are also very competitive. With a basic account, it is free to receive payments in the UK, EU, and the US. Withdrawing to a local bank account in the same currency is also free, however, a currency conversion charge of 2% above the market rate will be applied if the transferred funds are in a different currency to the bank account. For customers withdrawing USDs to a USD bank account, a charge of $3 applies. It should be noted that there also may be additional fees from a personal bank account, such as processing fees, landing fees or intermediary fees, which are not directly associated with Payoneer.
A 24/7 customer support service is also available to help clients with any questions they may have about the payments platform.
Advantages of using Payoneer to fund your trading account
Payoneer accounts are mainly used by individuals and businesses to bill clients and receive payments. The payment services are not directly used to fund and withdraw money from trading accounts, and in fact, inbound payments from Forex, binary and other trading accounts are prohibited.
However, Payoneer do offer a prepaid MasterCard. This can be used to fund any trading account that accepts MasterCard payments. No bank accounts are required to sign up to the Prepaid MasterCard, and funds are accessible within 2 hours of a payment being received onto the card.
BrokerNotes.co 2023 Overall Rankings
To recap, here are our top forex brokers for 2023, sorted by Overall ranking.
| Company | Overall Rating | Minimum Deposit | Average Spread EUR/USD - Standard | Trust Score | Tradeable Symbols (Total) | Read Review | Visit Site |
 IG
|
9.9 | £250.00 | 0.98 | 99 | 19537 | IG Review |
Visit Site
|
 Saxo Bank
|
9.7 | 0 | 0.9 | 99 | 70000 | Saxo Bank Review | |
 Interactive Brokers
|
9.9 | $0 | 0.63 | 99 | 8500 | Interactive Brokers Review | |
 CMC Markets
|
9.6 | $0 | 0.51 | 99 | 12074 | CMC Markets Review | |
 TD Ameritrade
|
9.3 | $0 | 1.25 | 99 | 0 | TD Ameritrade Review | |
 FOREX.com
|
9.4 | $100 | 1.4 | 99 | 5500 | FOREX.com Review |
Visit Site
|
 City Index
|
9.3 | £100.00 | 1.4 | 99 | 13500 | City Index Review | |
 XTB
|
9.1 | $0 | 1.07 | 96 | 6010 | XTB Group Review | |
 eToro
|
8.8 | $10-$10,000 | 1 | 90 | 3479 | eToro Review | |
 Swissquote
|
8.8 | $1000 | N/A | 99 | 472 | Swissquote Review | |
 AvaTrade
|
8.7 | $100 | 0.92 | 94 | 1260 | AvaTrade Review | |
 FXCM
|
8.5 | Starts from $50 | 1.38 | 95 | 440 | FXCM Review | |
 Plus500
|
8.6 | €100 | 0.8 (August 2021) | 99 | 5500 | Plus500 Review | |
 Capital.com
|
8.7 | $20 | 0.67 | 87 | 3119 | Capital.com Review | |
 XM Group
|
8.4 | $5 | 1.6 | 88 | 1429 | XM Group Review | |
 Pepperstone
|
8.4 | $200 | 0.77 | 95 | 2342 | Pepperstone Review | |
 OANDA
|
8.5 | $0 | 1.57 | 93 | 1744 | OANDA Review | |
 Admiral Markets
|
8.5 | $100 | 0.8 | 93 | 6942 | Admiral Markets Review | |
 FP Markets
|
8.3 | $100 AUD | 1.1 | 87 | 10000 | FP Markets Review | |
 IC Markets
|
8.1 | $200 | 0.62 | 84 | 3583 | IC Markets Review | |
 Markets.com
|
8.1 | $100 | 1.9 | 96 | 2179 | Markets.com Review | |
 FxPro
|
8.1 | $100 | 1.51 | 90 | 2249 | FxPro Review | |
 Tickmill
|
8.1 | $100 | 0.51 | 83 | 725 | Tickmill Review | |
 Fineco Bank
|
8.0 | $0 | N/A | 95 | 126 | Fineco Bank Review | |
 BlackBull Markets
|
8.0 | $0 | 0.827 | 77 | 26000 | BlackBull Markets Review | |
 DooPrime
|
7.8 | $100 | N/A | 83 | 10000 | DooPrime Review | |
 Vantage
|
8.0 | $50 | 1.30 | 90 | 1000 | Vantage Review | |
 BDSwiss
|
7.7 | $100-$5000 | 1.6 | 81 | 1081 | BDSwiss Review | |
 HFM
|
7.9 | $0 | 1.2 | 86 | 3500 | HFM Review | |
 FlowBank
|
7.7 | $0 | N/A | 80 | 408600 | FlowBank Review | |
 HYCM (Henyep Capital Markets)
|
7.9 | $20 | 0.6 | 88 | 1199 | HYCM Review | |
 Trading 212
|
7.7 | €10 | N/A | 77 | 9732 | Trading 212 Review | |
 ThinkMarkets
|
7.8 | $0 | 1.1 | 92 | 4000 | ThinkMarkets Review | |
 Eightcap
|
7.5 | $100 | 1.0 | 85 | 736 | Eightcap Review | |
 Trade Nation
|
7.6 | $0 | 0.6 | 83 | 601 | Trade Nation Review | |
 Moneta Markets
|
7.5 | $50 | 1.27 | 72 | 1016 | Moneta Markets Review | |
 VT Markets
|
7.3 | $100 | 1.2 | 70 | 1000 | VT Markets Review | |
 TMGM
|
7.6 | $100 | 0.96 | 83 | 12000 | TMGM Review | |
 ACY Securities
|
7.4 | $50 | 1.2 | 75 | 2200 | ACY Securities Review | |
 easyMarkets
|
7.3 | $50 | 0.9 | 80 | 199 | easyMarkets Review | |
 RoboForex (RoboMarkets)
|
7.3 | $100 | 1.4 | 71 | 12000 | Roboforex (RoboMarkets) Review | |
 IronFX
|
7.2 | $50 | 1.2 | 84 | 340 | IronFX Review | |
 Exness
|
7.0 | $1 | 0.9 | 68 | 112 | Exness Review | |
 Spreadex
|
7.2 | $0 | 0.78 | 71 | 2000 | Spreadex Review | |
 IFC Markets
|
7.2 | $1 | 1.44 | 67 | 630 | ATFX Review | |
 Trade360
|
7.2 | $250 | N/A | 76 | 1062 | Trade360 Review | |
 Axi
|
7.1 | $0 | N/A | 81 | 175 | Axitrader Review | |
 GKFX
|
7.0 | $0 | N/A | 65 | 354 | GKFX Review | |
 Vestle
|
7.0 | -1 | N/A | 78 | 750 | Vestle Review | |
 Octa
|
7.2 | $25 | 0.9 | 70 | 229 | OctaFX Review | |
 FXOpen
|
7 | $100 | N/A | 80 | 87 | FXOpen Review | |
 TeleTrade
|
7.1 | $100 | N/A | 71 | 500 | Teletrade Review | |
 FXPrimus
|
7.0 | $100 | N/A | 71 | 140 | FXPrimus Review |
Visit Site
|
 Forex4you
|
6.9 | $0 | N/A | 61 | 150 | Forex4you Review | |
 GBE brokers
|
6.8 | $500 | N/A | 71 | 500 | GBE Brokers Review | |
 Alpari
|
6.8 | $20 | N/A | 68 | 105 | Alpari Review | |
 TopFX
|
6.7 | Depends on payment method | N/A | 67 | 655 | TopFX Review | |
 Libertex (Forex Club)
|
6.7 | $10 | N/A | 73 | 300 | Libertex Review | |
 LegacyFX
|
6.7 | $500 | N/A | 67 | 425 | LegacyFX Review | |
 FXGT.com
|
6.6 | $5 | N/A | 69 | 117 | FXGT Review | |
 ATFX
|
6.5 | $500 | N/A | 67 | 150 | ATFX Review | |
 Xtrade
|
6.5 | $250 | N/A | 80 | 142 | Xtrade Review | |
 UFX
|
6.6 | $100 | 3 | 67 | 619 | UFX Review |
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At BrokerNotes.co, our data-driven reviews of online brokers are based on our own extensive testing of each broker's products and services as well as the qualified observations of our expert editorial team. In conjunction with our sister site, ForexBrokers.com, we’ve published well over 100,000 words of research and collected thousands of data points across hundreds of variables. Our in-depth trading guides are created with the same rigorous, data-driven approach.
Our proprietary Trust Score rating system tracks data from over 100 regulatory jurisdictions to help forex traders understand the regulatory status of their forex broker and choose a broker that they can trust.
Our editorial team is led by Steven Hatzakis, an industry veteran with decades of experience and a deep understanding of the forex market. Our team conducts thorough testing on a wide range of brokers, platforms, products, technologies, third-party trading tools, and mobile apps. We also test for the availability of high-quality educational content, actionable market research resources, and the accessibility and capabilities of mobile platforms. All of our ratings and rankings are based on the collection and validation of thousands of data points and our in-depth product testing.
Part of our testing process involves in-depth research into commissions and fees. We dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads (we always strive to determine the average spreads for each broker to better serve our readers), and a variety of other fee-based data points.
All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go.
When testing mobile apps or mobile products, we test on both Apple and Android devices. For Apple, we test with the iPhone XS running iOS 16, and for Android we use the Samsung Galaxy S9+ and Samsung Galaxy S20 Ultra devices running Android OS 13.
All of the content on BrokerNotes.co is researched, fact-checked, and edited by members of our editorial team. Our ratings and rankings are driven by our independent data collection. We may use generative AI tools to assist in some of the rote aspects of our content production processes, but the substance of our content, as well as our opinions and evaluations are based on our extensive research and product testing. Read our Generative AI policy to learn more.
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Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.
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