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Paying the Way Why You Need a Payment Provider with Forex Expertise

Paying the way: why you need a payment provider with forex expertise

The foreign exchange market has an average daily trading volume of over $7.5 trillion. This industry is considered high-risk for merchants applying for accounts due to its inherent volatility, susceptibility to fraudulent activities, and complex regulatory landscape.

Forex transactions often involve large amounts of money and are time-sensitive, making them attractive targets for fraudsters. Additionally, the stringent regulations imposed by financial authorities worldwide create challenges for merchants to maintain compliance. 

Therefore, it comes as no surprise that businesses operating in this space require robust, efficient, and reliable payment solutions. To succeed in this highly competitive environment, they need a payment provider with Forex expertise familiar with this industry’s unique needs, such as the ability to process payments in multiple currencies.

Using a payment provider with forex expertise

Here are the four big advantages of using a payment provider with Forex Expertise for your Forex business:

Industry knowledge and understanding

A payment provider with Forex expertise possesses a deep understanding of the industry's unique characteristics, trends, and challenges. This expertise allows them to offer tailored payment solutions that cater to the specific needs of Forex businesses, ensuring that transactions are conducted smoothly, securely, and efficiently.

Ensure regulatory compliance

The Forex market is heavily regulated, with strict rules and guidelines set by various regulatory bodies worldwide. A Forex payment provider with industry expertise is well-versed in these regulations and can help businesses navigate this complex landscape, ensuring full compliance and avoiding potential fines or legal issues.

Minimise fraud and chargebacks

Forex transactions are often high-value and time-sensitive, making them a prime target for fraudsters. A payment provider with Forex expertise can implement advanced fraud prevention measures, such as machine learning algorithms and real-time transaction monitoring, to minimise the risk of fraudulent activity and chargebacks.

Offer international reach

Forex businesses often operate globally, necessitating payment solutions that can accommodate multiple currencies and payment methods. A payment provider with Forex expertise can offer a wide range of international payment options, allowing businesses to reach clients in different countries easily.

Key considerations when choosing a payment provider

Choosing the right payment provider is crucial to ensure smooth, secure, and efficient transactions and seamless integration with existing systems. This section will delve into the key considerations when selecting a payment provider. By examining these essential aspects, businesses can make an informed decision and partner with a provider that aligns with their goals and requirements in the Forex industry:

Access to a dedicated account manager

A dedicated account manager is essential for businesses that require a high level of support and guidance in managing their payment processing needs. This professional should be knowledgeable about the Forex industry and able to offer personalised advice and assistance, ensuring that businesses can focus on their core activities.

Optimised approval rates

High approval rates are crucial for Forex businesses, as declined transactions can lead to lost revenue and customer dissatisfaction. It is extremely important for a payment provider that offers Forex services to demonstrate a track record of maximising approval rates by using advanced technology and industry-specific strategies.

Provide alternative payment methods

As the Forex market evolves, so do the payment preferences of its participants. Your payment provider should be able to accommodate a range of alternative payment methods, such as digital wallets and cryptocurrencies, in addition to traditional options like credit cards and bank transfers.


Fraud prevention

Fraud and financial crime have historically been a problem for the forex market. An efficient online payment gateway provider can not only help you keep fraud at bay but also protect your customers from potential financial risks.

Offer customer support

Finally, offering effective customer support, while crucial for any payment provider, it is particularly important for those serving the Forex industry. A Forex payment provider should offer round-the-clock support, with knowledgeable representatives available to assist with any issues that may arise.

Choosing the best forex merchant acquirer

When you choose Trust Payments as your payment gateway, you will receive a service that meets all the above requirements.

Our dedicated Forex account managers work closely with you to understand your specific payment processing needs. They will help you optimise transaction approval rates and minimise payment rejections. 

For impartial advice and quotes, contact us, and we’ll help you to choose the best Forex merchant account.

Security statement

Security is our top priority at Trust Payments and we strive to ensure that all data is kept secure at all times We keep all customer data safe with AES256 encryption, SSL Certificates, and a minimum of TLS1.2, between your website and our datacentres.

Our systems are scanned quarterly using the Qualys PCI Platform, an independent Qualified Security Assessor (QSA) and approved vendors – Omnicybersecurity (UK) & Forgenix (US) – to ensure compliance with the security requirements of the card schemes.

We follow a number of rigorous security procedures on a daily basis including, but not limited to, continuous monitoring of our perimeter, dark web monitoring, and internal checks to ensure that CIA triad is maintained at all times.

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