Western Union is a public company and one of the largest online and in-person wire transfer services available. In the financial services industry, the best Western Union forex brokers are leading trading platforms that can be funded with the Western Union money-transfer solution.

For this guide, we’ll be looking through some of the key features and benefits of the top forex brokers that accept Western Union. We’ll compare the trading experiences, pricing models, spreads, and more. Let’s begin.

Your capital is at risk. 80.61% of retail investor accounts lose money when trading CFDs with this provider.

Top Western Union Forex Brokers Reviewed 

Western Union is known as the pioneer and frontrunner of global money-transferring services and can be used to fund trading accounts through bank transfers or a prepaid cards. In the section below, we provide reviews that highlight the different benefits of using the best Western Union forex brokers.

1. Capital.com – Overall Best Western Union Forex Broker

Those looking for the overall best Western Union forex broker should have Capital.com as their first consideration. Aside from providing 138 currency pairs to trade from, the most on our list, Capital.com has some of the lowest fees, tight spreads, and one of the most user-friendly proprietary platforms.

On the Capital.com web platform, users can check the latest market news of any instrument offered as well as the consensus of other traders whether they are buying or selling the asset. They can also set stop loss and take profit parameters to better monitor open positions.

Traders can use their Capital.com accounts and open positions on MetaTrader 4 (MT4) and utilize all the platform’s algorithmic trading features, forex signals, and tools. as well as trade from anywhere with the Capital.com mobile app which has access to more than 5,600 markets and all the same features as the web platform. Clients are even notified of price alerts through their mobile devices with the app.

In terms of regulations, Capital.com is licensed under the top regulatory commissions such as the Financial Conduct Authority (FCA) and Cyprus Securities and Exchange Commission (CySEC). Deposits from retail traders are also protected with the Investor Compensation Fund while accounts have negative balance protection.

Aside from forex, Capital.com users can buy crypto, stock CFDs, indices, and commodities. This means that portfolios are more diverse and can be more resilient as markets have varying degrees of price runs. 

Summing it all up, Capital.com has valuable features that stand to benefit most traders. Check out our Capital.com review to know more about how the broker can benefit you.

What We Like

Your capital is at risk. 80.61% of retail investor accounts lose money when trading CFDs with this provider.

2. eToro – Top Western Union Forex Broker for Copy Trading

Investors looking for a more hands-free trading experience should look to eToro, one of the best Western Union forex brokers for copy trading. The broker also has its own easy-to-use platform and mobile app that has access to 49 forex pairs, over 3,000 stocks, 23 commodities, and more.

Copy trading on eToro is facilitated by the platform’s CopyTrader feature, a technology which allows users to copy the trades of other experienced traders on the platform. This feature allows any eToro member, even new eToro account holders, the ability to copy the top investors with no extra fees. According to eToro, a 30.4% yearly average profit from the 50 most replicated traders was observed in 2021.

Smart Portfolios is another product that eToro offers which can help lessen the time for long-term investors to find opportunities to invest in different industries and markets. Smart Portfolios are pre-built investing strategies that range from cryptocurrencies, renewable energy, tech, and utilities.

However, day trading forex is still very much possible on the platform with up to 1:30 leverage for retail traders and 1:400 leverage for professional clients. New traders can make full use of eToro’s virtual portfolio where trading can be done completely risk-free with $100,000 in virtual equity.

What We Like

78% of retail investor accounts lose money when trading CFDs with this provider.

3. XTB – Leading Western Union Forex Broker with Fast Trade Executions

XTB is the leading CFD forex broker for the European market. Headquartered in Poland, the broker has almost 20 years of market experience under its belt and offers one of the most powerful trading platforms in terms of execution speeds and trading tools.

Over 4,000 instruments are supported on their platform, xStation, which has a simple yet intuitive design that can even be accessed on mobile devices. A built-in trading calculator is an important forex risk management component to the XTB trading experience as clients can already estimate the total costs of opening positions.

Customer support is another area where XTB shines as the service runs 24/7 to answer all queries and problems on the platform. The XTB group is also regulated by the top financial bodies like the FCA, FSC, and KNF. Anyone can try the platform out as XTB offers a 30-day free demo account that takes just a few minutes to set up.

What We Like

81% of retail investor accounts lose money when trading CFDs with this provider.

4. Libertex – Established Western Union Broker with Mobile Application

Libertex is another well-established forex broker from Europe. The broker has its own proprietary web and mobile platform as well as support for MT4 and MetaTrader 5 (MT5). They cater to over 3 million clients that span over 120 different countries.

Thanks to its low spreads and instant trade executions, Libertex is also one of the best scalping brokers for traders. On the web platform, 51 currency pairs are supported with up to 1:30 leverage for forex trading while accounts trading through MT4 and MT5 can use up to 1:1000 leverage. 

Additionally, there are other types of trading instruments offered on the Libertex platform. These include ETFs, cryptocurrencies, commodities, and stocks which can be traded in the short term or bought for the long term with 0% commissions. Some of the best forex signals can be found in the different platforms that Libertex supports.

What We Like

62.2% of retail investor accounts lose money when trading CFDs with this provider.

5. Pepperstone – Spread Betting Forex Broker for Multiple Platforms

The last top Western Union forex broker we’ll be giving a close review of is Pepperstone, a popular spread betting platform that has integrated many trading platforms. With a maximum leverage of 1:200 for its more than 60 forex pairs, Pepperstone is a great option for high-volume and experienced forex traders.

As one of the best spread betting platforms, Pepperstone has access to some of the largest liquidity networks that are provided by Tier 1 banks, and other financial companies. Pairs are offered in some of the most competitive spreads which can start at 0 pips for EUR/USD and average 0.17 pips for commission-based accounts.

The two forex trading accounts that are offered on Pepperstone are the Razor account and the Standard account. The former requires a 3.5 USD commission for traders but has extremely low spreads while the latter offers 0% commission trading.

What We Like

74% of retail investor accounts lose money when trading CFDs with this provider.

Best Western Union Forex Brokers Compared

View the table below which showcases the key features of the best Western Union forex brokers.

What is Western Union?

Western Union is an American money-transferring company that has supported wire transfers since the late 1800s. It’s the biggest name in the industry and has helped millions of users send money for work or give immigrants a means of transferring funds to their families back home.

In 2021, Western Union customers made over 250 million transfers which amounted to a total of $80 billion for the year. Clients can choose to send money online, through the mobile app, or through one of their thousands of in-person stores across the world.

For receiving money, Western Union has enabled anyone to receive funds directly to their bank accounts. Additionally, they can receive the cash from the money transfer by going to one of the Western Union agent locations. Bills can also be easily integrated with Western Union through the mobile app as sending and receiving payments can be performed regularly or scheduled.

Benefits of Using a Western Union Forex Broker

For this section of this review, we’ll be looking at the key benefits of using a Western Union forex broker as well as how Western Union gives value to its customers.

Safe Transfers with Data Encryption Security

Western Union encrypts all its transfers and keeps user data secure. To fight fraud and even money laundering schemes, the wire transferring company has a fraud resource center that helps clients be more educated and stay protected from sources of fraud.

Touch ID is used to securely verify account holders on mobile while all payments are PCI DSS compliant to make sure data and payments remain secure. All transfers from accounts can be tracked via the unique tracking number given per encrypted transfers.

Convenient All-in-one Global Money Transferring

Western Union’s mobile application is highly reputable on both app stores with all its features in one place. Users can track their money transfers, view live exchange rates, send and receive money fast and easily, and transfer money to digital wallets. 

The app is also used for availing discounts through Western Union’s loyalty program which will be touched on below.

Loyalty Program with My WU

My WU is the loyalty program of Western Union which includes shopping at more than 12,000 online stores, exclusive deals from different brands, the ability to send gifts internationally, and earning cashback. These rewards can be availed of by My WU points which can even be used to donate to scholars who need funding for their education.

Cashback of up to 30% can also be redeemed either through the Western Union Website, the My WU portal, or the Western Union mobile app. Just like any reward service, this loyalty system encourages users to keep on the Western Union platform to send, receive, and track their funds.

Use an International Prepaid Card

Lastly, the Western Union Netspend Prepaid Mastercard is a debit card that lets US clients send and receive money transfers. No credit check or minimum balance is required to avail of the prepaid card which requires activation and ID verification.

Cardholders get to perform direct deposits which can be used to get paychecks and even government benefits faster than some other methods. Just like any other debit Mastercard, this can also be used to make online purchases like funding forex and other trading accounts.

Conclusion

The best Western Union forex broker should not only have the lowest costs and spreads but also give its clients the most seamless and intuitive trading experience possible. From the research provided by this review, the most crucial aspects and features that add to the trading experience were highlighted and compared.

Looking at everything that was covered, we found that Capital.com remains to be the overall best Western Union forex broker because of its easy-to-use platform, low spreads, and 0% commissions. With a minimum deposit of just 20 USD, opening an account with Capital.com can be done in just a few minutes.

If you want the optimal trading experience with instant trade executions, up to 1:30 leverage, and zero commissions, start trading with Capital.com by clicking on the link below.

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