The Forex industry is complicated. As high-risk businesses, Forex companies are associated with challenges concerning payment processing. Because of that, Forex merchants should make it a priority to seek out reputable payment processors that can get them a Forex merchant account with ease.
What is a Forex merchant account? Because of this type of merchant account, you are able to process transactions by Forex brokerage firms safely, securely, and without delay. The payment processor will enable your company’s clients to fund their trading accounts online.
The purpose of a Forex merchant account is to make sure traders can process monetary transactions and fund their trading accounts by debit/credit. It provides the security the customers need, and it creates an easy gateway for the money to pass through swiftly and effortlessly.
The foreign exchange market is a virtual arena where large numbers of people earn money on an ongoing basis. This is made possible through special Forex platforms or Forex brokers. Forex brokers are in constant need, and with the exponential growth of the marketplace, they are also perpetually increasing in numbers. The higher the technology tree grows, the more need there is for bigger and better advancements in terms of trading, resources, and of course, revenue.
Because of the high-risk nature of the industry, Forex merchants are often seen as a potential risk to any financial institution willing to take them on. The good news is that this doesn’t spell doom and gloom for the business. High-risk merchant account providers, like Octapay, are proficient in dealing with banks on behalf of the Forex merchant. No need to panic or become despondent; there is profitability at the end of the tunnel.
When searching for a merchant account provider, you may note that there are hundreds of companies offering these services. Each of them comes with their own advantages and particulars, but considering the field, Forex experts are hard to come by. Because the industry is everchanging, it’s difficult to find a payment processor with up-to-date information and expertise. This is where a lot of companies fall short. Ideally, you want your account provider to inform you of the changes in the industry, not the other way around.
When clients make deposits, the importance of the ease and speed of the transaction cannot be understated. This money is the bread and butter of the Forex company, and understanding that clients’ needs and comfort come first should be the priority of both the merchant and the processor. Remember, your success is the account provider’s bread and butter. So symbiosis is paramount. It’s another reason why working with the right payment provider is critical for Forex merchants.
Octapay are the leaders in Forex credit card processing. The high-risk nature of Forex merchants makes it a challenge for them to get approved by underwriters. This is where Octapay comes in. They specialise in high-risk industries, in particular Forex, cryptocurrency and online gaming. With only three niche fields of expertise, it’s no wonder they have an expanding client base grounded predominantly on referrals.
At Octapay, our clients are our only priority. We form familiar relationships based on mutual trust and understanding.
If you have any questions or would just like to know more about what we offer, why not give us a call. We have a dedicated team to help companies that are established, as well as companies that are just starting out. Let us guide you to a profitable tomorrow.