Union Pay Forex Brokers Use Union Pay International (UPI), Or China Union Pay (CUP), Which Is A Payment Service Provider Available To And Popular Amongst Online Day Trading Brokers.
The Best Union Pay Forex Brokers in 2022 List
Here’s a list and short descriptions of our best Union Pay forex brokers according to our research.
- XM – Best Overall Broker, Most Trusted
- IC Markets – Best Web-based Trading Platform
- FXTM – Excellent Overall, Best Platform Technology
- FBS – Great Overall, Best For Professionals
- FP Markets – Best Desktop Platform, U.S. Only
- EToro – Excellent All-Round Offering
- IG – Great Research And Education
- Oanda – Excellent All-Round Offering
- AvaTrade – Best For Copy And Crypto Trading
- OctaFx – Best Versatile Union Pay
1. XM - Best Overall Broker, Most Trusted
XM Group Is Made Up Of Four Regulated Online Brokers. Trading Point Of Financial Instruments Ltd Was Established In 2009 And It Is Regulated By The Cyprus Securities And Exchange Commission (CySEC 120/10). Trading Point Of Financial Instruments Pty Ltd Was Established In 2015 And It Is Regulated By The Australian Securities And Investments Commission (ASIC 443670).
XM Global Limited Was Established In 2017 And Is Regulated By The Financial Services Commission In Belize (000261/309). Trading Point MENA Limited Was Established In 2019 And Is Regulated By Dubai Financial Services Authority (DFSA Reference No. F003484).
XM Is A Highly Reliable Trading Platform That Removes The Uncertainty Behind Order Execution While Providing A High Level Of Compatibility With MetaTrader 4 And 5. Investors Who Wish To Trade ETFs Should Look Elsewhere, But There Are Still An Impressive Number Of Assets Available On XM. Traders Of All Experience Levels Can Learn To Trade Skillfully Using The Site’s Inclusive Educational Suite.
In Addition, For Any Questions The XM Team Is Ready To Respond Promptly In The Correct Language, As Support Team Is Available 7 Days A Week (24/5 For The EU-regulated Entity). Ultimately, XM Shines In The Areas That Are Most Important For Traders Who Value Accuracy And Cost-efficiency Over Other Value-added Perks.
| Forex Pairs | 57 pairs |
| Max Leverage | 1:1000 leverage |
| Pricing | – |
| Spread for USD/EUR | – |
| Mastercard Deposit Fee | None |
| Trading Platforms | Proprietary mobile app, MT4, MT5 |
2. IC Markets - Best Web-based Trading Platform
IC Markets Trading Company Was Founded In 2007 In Sydney, Australia. The Broker Is Licensed Under The Australian Financial Services License (AFSL) And The Australian Securities And Investment Commission (ASIC). The Broker Is Also A Member Of The Australian Financial Complaint Authority (AFCA), The Governing Body That Sets The Industry Standard For The Resolution Of Disputes Between Consumers And Financial Service Providers, And Regularly Undertakes Audits.
IC Markets Trading Company Has Been A Partner Of The Traders Union For Many Years And During This Time It Has Proven Its Reliability. The Broker Is Popular Amongst Traders Within The Forex Market Due To The Low Spreads Offered To Traders, The Availability Of Micro-lots (0.01), And The Quality Of The Customer Service. The Company Has A Fast Order Execution Speed And Is One Of The Fastest In The World.
The IC Markets Trading Company Meets The Needs Of Customers By Providing The Opportunity To Trade At Popular Markets With High Liquidity.
IC Markets Offers Traders The Use Of MT4, MT5, And CTrader Trading Platforms, As Well As The Mobile App. In Particular, The Wide Choice Of Trading Tools – More Than 60 Currency Pairs, Futures, CFDs On Indices, Stocks, Commodities, Metals.
| Forex Pairs | Over 61 pairs |
| Max Leverage | Up to 1:500 leverage |
| Pricing | $3.5 per lot per side for Raw Spread account, 0% commission for Standard account |
| Spread for USD/EUR | From 0 pips for Raw Spread account;From 0.6 pips for Standard account |
| Mastercard Deposit Fee | None |
| Trading Platforms | WebTrader, MT4, MT5, cTrader. ZuluTrade |
3. FXTM - Excellent Overall, Best Platform Technology
FXTM Or ForexTime Was Founded In 2011 And Is A Global CFD And FX Broker. It Is Regulated By Several Financial Authorities, Including The UK Financial Conduct Authority (FCA) And The Cyprus Securities And Exchange Commission (CySEC). FXTM Is Considered Safe Because It Is Regulated By The Top-Tier FCA.
It Also Has A Minimum Deposit Of Just $10, So If You're New To Trading You Can Get Started Without Worrying Too Much About Jumping Right In With A Lot Of Capital.
FXTM’s Commission Structure Is Very Competitive. You Can Enjoy Zero Commission When Trading US Stocks On Our MT5 Accounts. The Commission Charge For Hong Kong Stocks Is As Low As 0.05% And For Stock CFDs There Are No Other Fees Except For Spreads And Swaps.
| Forex Pairs | 27 pairs |
| Max Leverage | 1:2000 leverage |
| Pricing | 0.4 – 2 USD per lot for Advantage accounts, 0% commission for Micro and Advantage Plus accounts |
| Spread for USD/EUR | From 0.0 pips for ECN Prime account; From 1.5 pips for Mirco and Advantage Plus accounts |
| Mastercard Deposit Fee | None |
| Trading Platforms | MT4, MT5, Webtrader |
4. FBS - Great Overall, Best For Professionals
The FBS Brokerage Company Provides Traders With Several Trading Accounts To Choose From: A Free Demo Account And Several Types Of Real Accounts With Different Conditions. This Allows Its Clients To Choose The Best Option Based On The Trading Strategy And Financial Instrument, As Well As Individual Requirements. The Broker Provides All Traders With Negative Balance Protection.
FBS Is The Right Company For Those Traders Who Prefer To Trade Manually And Use Expert Advisors. However, The Broker Does Not Offer Passive Investment Options Other Than Trading Robots. The Company Does Not Provide For The Possibility Of Investing In PAMM Accounts Or Automatic Copying Of Trading Operations Of Experienced Traders.
FBS Provides Services In The Forex Market Globally. The Company Has Been Operating For A Little Over 10 Years. The Broker Takes A Responsible Approach To Performing The Tasks Assigned To It. FBS Offers Its Trading Clients Optimal Working Conditions And Popular Financial Instruments. The Company Is Characterized By Convenient Trading Terminals, Including A Mobile Version Of Its Own Platform, And Frequent Innovations.
Because The Regulator Of FBS Is The Cyprus Securities And Exchange Commission (CySEC), There Is A Guarantee Of Transparency And Safety Of The Trader’s Funds.
| Forex Pairs | 43 pairs |
| Max Leverage | 1:3000 for certain accounts |
| Pricing | $6 commission for ECN account, 0% commission for Standard account |
| Spread for USD/EUR | From 0 pips |
| Mastercard Deposit Fee | None |
| Trading Platforms | Proprietary app, MT4, MT5 |
Best Union PayForex Brokers Compared
Below is a table summary to help you compare the best Union Pay Forex Brokers.
| Forex Brokers | Forex Pairs | Max Leverage | Pricing | Spread for EUR/USD | Union Pay Deposit Fee | Trading Platforms |
|---|---|---|---|---|---|---|
| XM | 57 pairs | 1:1000 leverage | - | - | None | Proprietary mobile app, MT4, MT5 |
| IC Markets | Over 61 pairs | Up to 1:500 leverage | $3.5 per lot per side for Raw Spread account, 0% commission for Standard account | From 0 pips for Raw Spread account;From 0.6 pips for Standard account | None | WebTrader, MT4, MT5, cTrader. ZuluTrade |
| FXTM | 27 pairs | 1:2000 leverage | 0.4 – 2 USD per lot for Advantage accounts, 0% commission for Micro and Advantage Plus accounts | From 0.0 pips for ECN Prime account; From 1.5 pips for Mirco and Advantage Plus accounts | None | MT4, MT5, Webtrader |
| FBS | 43 pairs | 1:3000 for certain accounts | $6 commission for ECN account, 0% commission for Standard account | From 0 pips | None | Proprietary app, MT4, MT5 |
| FP Markets | 60 pairs | 500:1 leverage | $3.00 commission per | 1.2 pips | None | Metatrader 4,Metatrader 5,Social Trading And WebTrader |
| EToro | 49 pairs | 1:30 for retail clients | 0% commission | 1 pip | None | Proprietary platform |
| IG | 80 forex pairs | 1:50 leverage | Inactivity Fee Of $12 Per Month | 0.1 Pips | None | MT4, ProRealTime, L2 Dealer |
| Oanda | 70 pairs | 1:50 for retail clients | From 0% commission | From 0.7 pips | None | Proprietary, MT4, TradingView |
| AvaTrade | 55 pairs | 1:400 for retail accounts | 0% commission | 0.9 pips | None | Proprietary App, MT4, MT5, WebTrader |
| OctaFx | 35 currency pairs | 1:500 leverage | 10,000 USD | 0.6 Pips | None | Metatrader 4, Metatrader 5 |
What is Union Pay?
UnionPay Brokers Is An Online Investment Platform That Offers A Unique And Convenient Way To Invest In Chinese Stocks. The Platform Enables Users To Buy And Sell Chinese Stocks Without The Need For A Broker.
UnionPay Brokers Is A Subsidiary Of UnionPay, The Largest Bank In China. The Platform Was Launched In 2020 And Is Headquartered In Beijing. Unionpay Brokers Is Regulated By The China Securities Regulatory Commission (CSRC).
Withdrawals Can Be Made In A Variety Of Ways And Vary In Fees. Some Of The Options Include:
• Mastercard
• Credit Card
• Visa
Benefits of Using a Union Pay Forex Broker
What Are The Risks Of Using UnionPay Brokers
There Are A Number Of Risks Associated With Using Unionpay Brokers. These Include:
- The Platform May Be Subject To Downtime Due To Maintenance Or Technical Issues.
- The Platform May Be Subject To Sudden Changes In Regulations By The CSRC.
- The Platform May Be Subject To Hacks Or Cyber-Attacks.
- The Platform May Be Subject To Sudden Changes In Market Conditions.
- Users May Lose Money If They Make Poor Investment Decisions.
What Are The Benefits Of Using UnionPay Brokers
There Are A Number Of Benefits Of Using Unionpay Brokers. These Include:
- The Platform Offers A Convenient Way To Invest In Chinese Stocks Without The Need For A Broker.
- The Platform Is Regulated By The CSRC.
- The Platform Offers A Variety Of Investment Products Including Stocks, Mutual Funds, And Bonds.
- The Platform Provides A User-Friendly Interface And Is Available In Both English And Chinese.
Deposits & Withdrawals
For The Various Forex And Stock Brokers That Do Accept UnionPay, Funding Is Fast And Easy. Make Sure To Check In Advance With Your Broker What The Minimum Deposit Amount Is, Especially If You’re Using A Prepaid Card.
If You Have Deposited Using UnionPay, Withdrawals May Need To Be Issued Via The Same Account. Always Make Sure That The Name And Address On Your ID Documents Are The Same As Your UPI Registration Details. It Is Also Worth Flagging That There May Be Overseas Withdrawal Limits With Some Brokers; You Can Check This By Contacting Customer Support When You Open An Account And Login.
Conclusion
UnionPay Brokers Is A Convenient Way To Invest In Chinese Stocks Without The Need For A Broker. The Platform Is Regulated By The CSRC And Offers A Variety Of Investment Products. However, There Are A Number Of Risks Associated With Using The Platform.
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