Paytrust Brokers 2024
Paytrust, or Paytrust88, is a digital payment gateway accepted by several trading brokers and forex platforms. As a popular financial transaction method in South East Asia, Paytrust enables traders from countries such as South Korea, Indonesia, Malaysia and China, to transfer funds quickly and safely.
If you’re new to the deposit option, we review the solutions on offer in this article, plus other key features of the interface, such as fees, security and customer service. We also list and compare the best brokers that accept Paytrust deposits.
Best Paytrust Brokers
Our extensive tests have revealed that these are the top 3 brokers with Paytrust:
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1
Deriv
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$50.01 Lots1:1000MFSA, LFSA, BVIFSC, VFSC, FSC, SVGFSACFDs, Multipliers, Accumulators, Synthetic Indices, Forex, Stocks, Options, Commodities, ETFsDeriv Trader, Deriv X, Deriv Go, MT5, cTrader, TradingViewNeteller, Visa, Skrill, WebMoney, FasaPay, Perfect Money, Diners Club, Banxa, Paytrust, Wire Transfer, Mastercard, Credit Card, JCB Card, Sticpay, Trustly, Volet, Paysafecard, AstroPay, Maestro, Airtm, Boleto, JetonCash, Przelewy24, Bitcoin PaymentsUSD, EUR, GBP -
2
Grand Capital40% deposit bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$100.01 Lots1:500FinaComCFDs, Forex, Indices, Shares, Energies, Metals, Cryptocurrencies, Binary OptionsMT4, MT5Wire Transfer, Neteller, FasaPay, Perfect Money, Western Union, RBK Money, Volet, PayRedeem, Debit Card, Credit Card, AstroPay, Paytrust, Bitcoin Payments, Ethereum PaymentsUSD, EUR, GBP, JPY, CHF, RUB -
3
GC OptionRisk Free Trading Days
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$10$1Binary Options on Forex, Metals and CryptosMT4, TradingViewWire Transfer, Credit Card, Debit Card, Mastercard, Bitcoin Payments, Ethereum Payments, FasaPay, Perfect Money, Paytrust, Maestro, AstroPay, PayRedeemUSD, EUR, GBP, JPY, RUB
Here is a short overview of each broker's pros and cons
- Deriv - Established in 1999, Deriv is an innovative broker now serving over 2.5 million global clients. The firm offers CFDs, multipliers and more recently accumulators, alongside its proprietary derived products which can't be found elsewhere, providing flexible short-term trading opportunities.
- Grand Capital - Grand Capital is a MetaTrader broker with welcome bonuses, trading competitions and an intuitive copy trading service. Several account types and 400+ assets provide trading opportunities for various types of investors and strategies. New users can also open an account and start trading in a matter of minutes.
- GC Option - GC Option is a binary options broker offering contracts with flexible contract lengths and payouts up to 86% on 27 instruments. This is one of the few binary options brokers to support MetaTrader 4, which it provides alongside two proprietary trading platforms.
Paytrust Brokers Comparison
| Broker | Minimum Deposit | Instruments | Platforms | Leverage |
|---|---|---|---|---|
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$5 | CFDs, Multipliers, Accumulators, Synthetic Indices, Forex, Stocks, Options, Commodities, ETFs | Deriv Trader, Deriv X, Deriv Go, MT5, cTrader, TradingView | 1:1000 |
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$10 | CFDs, Forex, Indices, Shares, Energies, Metals, Cryptocurrencies, Binary Options | MT4, MT5 | 1:500 |
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$10 | Binary Options on Forex, Metals and Cryptos | MT4, TradingView | - |
Deriv
"Deriv is ideal for active traders seeking alternative and unique ways to speculate on global financial markets, from multipliers and accumulator options to its bespoke synthetic indices, which mimic real market movements and are available 24/7, allowing for continuous trading opportunities regardless of market hours."
Christian Harris, Reviewer
Deriv Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Multipliers, Accumulators, Synthetic Indices, Forex, Stocks, Options, Commodities, ETFs |
| Regulator | MFSA, LFSA, BVIFSC, VFSC, FSC, SVGFSA |
| Platforms | Deriv Trader, Deriv X, Deriv Go, MT5, cTrader, TradingView |
| Minimum Deposit | $5 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:1000 |
| Account Currencies | USD, EUR, GBP |
Pros
- Although response times trail alternatives in our personal experience, Deriv offers 24/7 support and is one of the few brokers to offer WhatsApp assistance.
- Account funding is a breeze with a very low minimum deposit of $5 and a huge selection of payment options, plus Tether was added to the cashier in 2023.
- After integrating TradingView and adding MT5 web trader, Deriv now offers a first-class selection of charting tools across desktop, web and mobile devices.
Cons
- Leverage up to 1:1000 will appeal to traders with a large risk appetite but frustratingly there is no ability to flex the leverage in the account area.
- Although there’s a basic blog, there's little in terms of technical analysis or market reports which could help active traders identify potential opportunities.
- Apart from the MFSA in the EU, Deriv lacks top-tier regulatory credentials, reducing the level of safeguards like access to investor compensation.
Grand Capital
"Grand Capital is a good broker for traders familiar with MetaTrader plus passive investors interested in copy trading and LAMM solutions. On the downside, the broker's regulatory credentials lag behind competitors."
Grand Capital Quick Facts
| Bonus Offer | 40% deposit bonus |
|---|---|
| Demo Account | Yes |
| Instruments | CFDs, Forex, Indices, Shares, Energies, Metals, Cryptocurrencies, Binary Options |
| Regulator | FinaCom |
| Platforms | MT4, MT5 |
| Minimum Deposit | $10 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:500 |
| Account Currencies | USD, EUR, GBP, JPY, CHF, RUB |
Pros
- Demo competitions with cash prizes
- Full range of investments including dedicated GC Option brand for binaries
- Micro account for beginners
Cons
- Basic education and market research
- Limited regulatory oversight
- High spreads on some assets
GC Option
"GC Option is ideal for binary traders seeking access to the MetaTrader 4 platform, as it is one of the only binary options firms that supports it, requiring a $100 deposit to achieve ‘Gold’ status. It’s also designed for short-term traders with contracts ranging from just 1 minute to 48 hours."
GC Option Quick Facts
| Bonus Offer | Risk Free Trading Days |
|---|---|
| Demo Account | Yes |
| Instruments | Binary Options on Forex, Metals and Cryptos |
| Platforms | MT4, TradingView |
| Minimum Deposit | $10 |
| Minimum Trade | $1 |
| Account Currencies | USD, EUR, GBP, JPY, RUB |
Pros
- The free demo account with $10,000 in virtual funds is an excellent place to learn how binary options work, including the broker’s double touch binaries which aren’t available at most brokers.
- GC Option offers fast and dependable support available 24/7 with response times of under 2 minutes based on testing over several years, and a particularly receptive live chat service.
- GC Option is fairly unique in its position as a binary options broker that provides access to MT4, though you need to achieve Gold status to trade on it.
Cons
- The breadth of tradable assets at GC Option needs serious improvement, with just approximately 30 instruments spanning currencies, cryptos and commodities, but zero stocks.
- Whilst the $10 minimum deposit is low within the industry, over 50% of the withdrawal options incur a charge and many consist of cryptocurrencies or banking solutions in Africa and India.
- Despite 15+ years in the market and being a spin-off of the established Grand Capital brand, GC Option remains unregulated with limited safeguards for investors.
How Did We Choose The Best PayTrust Brokers?
To list the top PayTrust brokers, we:
- Scanned our directory of 500 online brokers, focusing on all those that accept PayTrust payments
- Verified that they support PayTrust deposits and withdrawals for online trading
- Sorted them by their total score, based on our analysis of 100+ data points and first-hand observations
What Is Paytrust?
As part of the growing payment provider market, Paytrust operates as an intermediary between a client’s bank and online services, such as trading brokers. Many traders have opted to deposit and withdraw funds via the payment solution, due to the added layer of security that using an intermediary provides.
Founded in 2016, Paytrust88 supports many major banks within South East Asia, providing a consolidated platform where traders can deposit in a choice of currency, including Thai baht (THB), Vietnamese dong (VND) and Malaysian ringgit (MYR). The payment gateway also offers solutions for clients wishing to quickly convert their local currency into dollars when making a deposit.
The payment gateway operates on a secure encrypted platform that can be linked to online brokerages and optimised for use on any device. However, the company does not currently offer its solutions on a mobile app, meaning that clients can only manage their accounts via a web browser.
Fees
Paytrust appeals to traders largely due to the lack of fees needed for deposits and its availability as a payment service with many brokers. Some brokers may even absorb any transaction fees, subject to the trader depositing a certain amount. The payment solution also supports unlimited daily transactions, although some brokers may apply limits or fees for transferring money within their platform.
If exchanging currency through Paytrust, there may also be additional fees or commissions built into their swap rates. It’s worth comparing the exchange rates offered by the brand to those of foreign exchanges, to get the best value.
Transaction Speed
Once set up with bank details, Paytrust88 is a fast and safe method of depositing funds onto a brokerage or exchange. Upon opening the payment portal, traders are required to input their bank login details and password to ensure transaction security. Once these steps are complete, funds will be quickly available for trading.
Withdrawal times can vary from broker to broker, but most Paytrust withdrawals are processed within one business day. The transfer solution ensures clients that funds can be safely withdrawn with minimal delay.
Security
When considering a service like Paytrust, traders must prioritise the safety of their transactions and funds. Some brokers and payment services can operate as scams, so traders should always do their due diligence before putting their bank details anywhere. Some legitimate companies can also be hacked and have their customer data stolen.
Paytrust is a legitimate transaction intermediary which ensures that the brokerage does not have direct access to your payment information. The payment solutions claims to use “the highest encryption standard available”, providing traders with a secure connection between the broker and bank. However, it is unclear whether additional protection measures are in place, such as two-factor authentication.
How To Deposit Using Paytrust
Once you have identified a broker that offers Paytrust deposits, making payments is a simple process. For example, these are the steps we followed at Deriv:
- Log in to your account and head to the deposit and withdrawal section.
- Determine the amount you wish to deposit or withdraw and enter the details into the Paytrust88 online request form. The payment gateway will open a new window that serves as the secure interface between the client’s bank and the broker.
- Traders will be required to log in to their Paytrust account before confirming the bank account they wish to use for the transfer. You may need to answer additional security questions, depending on your bank.
- The transaction is then completed and your balance will update accordingly.
Advantages Of Using Paytrust For Traders
There are several benefits of using Paytrust to fund trading accounts:
- No Daily Limits – The company enables traders to safely deposit and withdraw unlimited amounts of funds from brokers and exchanges. It is worth mentioning that individual brokers may set their own transfer limits.
- Ease Of Use – Once a Paytrust account is set up, transferring funds through the payment gateway is straightforward and efficient. Using the payment gateway eliminates the need for traders to manually input bank details or complete lengthy wire transfers to brokers, allowing them more time to trade.
- Fast Transaction Speeds – Whether depositing or withdrawing funds, traders benefit from the quick transfer speeds facilitated by the payment provider. Faster transfers may mean greater trading opportunities and enhanced fund liquidity.
- Enhanced Security – Traders don’t have to worry about giving their bank details to brokers who may be vulnerable to data leaks or are not trustworthy. Of course, traders should do their due diligence when signing up to any broker. Deposited funds may still be at risk, as well as any other personal information provided.
- Well-Supported – Many top forex brokers offer Paytrust, especially those available in Asian markets. This means clients can pay money in or out with brokers they can trust. These include FP Markets and Deriv.com. It also allows investors to fund trading accounts using several major regional banks, including Maybank and CIMB.
Disadvantages Of Using Paytrust For Traders
We’ve identified a few potential drawbacks of trading with Paytrust:
- Some Brokers Charge Fees – While many brokers opt to cover Paytrust’s transaction fees, some pass these levies onto traders. Several brokers enforce minimum transaction amounts for fee exemption, which isn’t ideal for traders who wish to make smaller transfers.
- Conversion Costs – As a payment gateway that supports a range of local Asian currencies, Paytrust sets conversion rates when exchanging currency. These rates may not be preferable and might include hidden fees, so try and make sure that transfers using the payment solution remain in the same currency on both ends.
- Missing Security Features – The brand provides a safe and trustworthy platform for transactions, utilising strong encryption and secure logins. However, some enhanced security features such as two-factor authentication are missing from their service. This is something to bear in mind for cautious traders.
- Region Limited – Unfortunately, the company does not support any banks or currencies for traders outside of South East Asia. You can find suitable alternatives by searching for common payment providers in your region, or by checking out trader reviews.
- Lack of Customer Support – Other than a customer request form, Paytrust does not provide any other methods of contact initially on the website, such as an email, contact number or mailing address. Some competitors offer a range of methods including a live chat, so this may be a considerable drawback for some.
Is Paytrust Good For Day Trading?
All in all, Paytrust is a safe and legitimate method of transferring funds on a brokerage platform for forex traders in South East Asia. Operating with major banks in Indonesia, Malaysia and China such as Maybank and CIMB, the payment solution aims to support trader deposits and withdrawals seamlessly. Before using any payment service, make sure to look out for potential transaction fees or any limited security features which may compromise your investments.
FAQ
How Does Paytrust Work With My Trading Account?
Paytrust is an online payment provider that links your bank account to your live trading account. The payment gateway offers fast deposits and withdrawals in a range of Asian market currencies including THB, VND and MYR.
Is Paytrust Safe To Use With My Trading Account?
Paytrust88 is a legitimate international payment gateway accepted by many brokers and forex exchanges. When using the solution to transfer funds, traders can rely on encryption to keep their data safe. That said, it’s also important to trade with a trusted brokerage that complies with security standards.
How Do I Contact Paytrust If There Is An Issue Depositing To My Trading Account?
The company provides limited customer support. For information or help, traders will need to sign up for an account by filling in the customer request form on the website.