As we know, Forex or FX is short for Foreign Exchange. It’s important I mention the word “foreign” because we are talking about a global economy and a global market. This means many currencies, varying time zones and, though this sounds great for an expansive business model, it also comes with the very high risks of fraud since most transactions are credit-card based.
What’s important to know is that Forex is a business of currencies being sold, bought, traded, and speculated, with records showing an average of over five trillion US dollars per day!
So, this obviously means that Forex is a very lucrative business, seeing high returns, but what merchants need to understand also is that a secure Forex payment processing solution is needed in order to accept credit card transactions online or traders may incur dreadful losses due to fraud or other cybercriminal activity.
Let’s look at the reason why you should use Forex. — The answer is simple enough: the financial rewards are high. Still, what makes using Forex especially necessary for companies or traders is that working with currencies is not akin to working with stocks: currencies do not move independently as stocks do. Also, the great advantage of using fiat currency is its stability unlike commodity-based money such as gold.
It’s important to choose an experienced Forex payment solutions company to enable you to benefit from having a global economic hedge, allowing you to evaluate or speculate which currencies will lead to a better return on your investment. — It also gives you a hedge against political situations worldwide: by keeping “in the know” regarding political unrest or other events in the world that may affect the dollar, you can always switch currencies to avoid a loss. It’s a risk, but a calculated one.
Lastly, Forex trading offers you great capital appreciation, similar to stock investment and trading.
Now, Forex is considered “high risk”, and here’s why:
Banks and other institutions mark Forex as a ‘high-risk’ industry because of its potentially volatile and seemingly capricious nature. Forex businesses are remarkably high risk for reasons such as the exchange rate risk, the interest rate risk, the credit risk, the country, and liquidity risk, and the leverage risk.
The lack of regulation is the principal concern to banks, and for this reasonable concern, banks classify Forex payment processing as high-risk merchants.
Since there is no centralized foreign exchange market, all currency trading is done electronically. Forex payment processing companies have faced increased scrutiny, making forex merchant account services a high-risk industry. This has created difficulty for merchants to find stable Forex merchant account providers.
So, what is the problem with Forex?
Owing to the Forex market has a high trading volume, Forex assets are classified as highly liquid assets; and because they are leveraged products, there is great risk associated with Forex trading, which may result in hefty losses.
Considering this, traders need to account for these various risks when actively trading on the Forex market. Such risks are margin risk, political risk, interest rate risk, exchange rate risk, volatility risk, credit risk, operational risk, broker risk, devaluation risk, and fraud risk.
The Forex trading market allows trading companies and individual traders to leverage a considerable amount of money, which can generate substantial profits or incur considerable losses. Since banks and other financial institutions will not open a merchant account for your Forex business due to its being labeled ‘very high risk’, it may limit the number of investors you could attract worldwide, who might prefer using Forex as a payment method.
Now for a solution –
With any business, the solution is to partner with experts in Forex trading. The best solution is to have your Forex trading account register with a professional payment processing company in order to help facilitate your Forex business.
It’s beneficial for your Forex business to acquire a Forex merchant account so that the risks are minimal and the pay-outs optimal. — It is vital to have financial confidence when using the Forex Trading Merchant Account online, as well as to keep your account safe and have your payment processor offer top performance when trading by way of their extensive capital and risk-management procedures.
Paypound has an innovative Forex payment gateway and is a recognized Forex merchant account provider, offering tools to transform, grow and scale your online business globally.
So what is Paypound’s‘ total’ and bespoke offering for Forex Merchants?
Paypound has expansive knowledge and expertise in creating and supporting Forex merchant accounts. With its access to offshore acquiring banks, Paypound has the capacity to leverage its connections and relationships worldwide to secure a financial-banking solution to suit your Forex business trading account.
To mention a few, these are some of the highlights you can expect when partnering with Paypound and its ultimate and total Forex merchant account solution: —
_Low rates, fast pay-outs, and best terms available
_Your Forex account’s special needs are kept in mind always
_Extensive banking network
_Innovative and powerful anti-fraud management tools
_Multi-channel payment solutions
_Forex credit card payment gateway
_Robust reporting system to track your transactions.
Here are some other benefits to expect from partnering with Paypound:
_Accept over 100 currencies in 196 countries
_Rates starting at just 3.5%
_Settle your profit directly into your bank account
_Secure data transfers with PCI Level 1 compliance
_Reduce declined payments with Fraud Scrub technology
_Track your transactions with a robust reporting system
_98% application approval rate.
The great news is that Paypound offers enhanced liquidity for your customers, responsive payment options, one-click check-out experiences, and tailor-made payment options for your Forex merchant account.
Paypound has many other solutions for your Forex trading merchant account to put your mind at ease and enable you to concentrate on the business at hand rather than worry about the many payment processing issues. This will give you more time to concentrate on what you do best, enabling you to focus more actively on your customers.
We’re experts in handling high-risk merchant payment processing for a variety of high-risk industries, both big and small. Where low-risk providers turn their back, we welcome you with open arms, ready to help high-risk businesses get approved and stay approved.
If you would like to know more about our solutions, get in touch today.
Contact Us At
Call us at – (+44) 800 832 1733,
Mail us at -email@example.com,
Visit our website –https://paypound.ltd/