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Best MoneyGram Forex Brokers 2022

For this list, we have found and tested several MoneyGram forex brokers.

To select the best MoneyGram forex brokers, we opened real accounts with each broker and deposited between $4,000 and $8,000, then we placed real trades in each popular market to get the full picture of conditions, spreads, fees, etc.. We also contacted the customer support team to resolve the problems. Eventually we withdrew out funds to see if there’s any issue.

We picked out the best MoneyGram forex brokers based on our trading data and experience as a trader.

Is MoneyGram Forex Popular Payment Method?

MoneyGram is a leading P2P payment and money transfer provider based in the US. MoneyGram offers its different financial services to individuals and businesses across the globe. The platform operate in 200 countries and has gained over 180,000 client base.

For more information read MoneyGram Wikipedia article or visit their official website – moneygram.com.

With the global expansion of forex trading, forex brokers adapted MoneyGram and started to offer it as one of their funding methods. However, not many brokers offer Moneygram as an available option. If a broker does offer MoneyGram, it may be restricted in certain countries or regions.

Via MoneyGram, the payment can be transferred to the recipient’s bank account or wallet, or the money can be collected at the MoneyGram agent nearby. There are approximately 400,000 agents available.

Here are some of the advantages and disadvantages of MoneyGram:

ProsCons
🗾 200+ countries available🛡️ Regional Limitations
💻 370,000 agents⛔ No Tracking
🏆 Rewards Points💳 Fees

Best Forex Broker that Accept MoneyGram

To come up with this list, we have searched and tested several forex brokers accepting MoneyGram as a funding option. We opened real accounts and deposited money with each broker. Then we placed real trades to see each broker’s offering.

  • eToro – Best MoneyGram Forex Broker Overall
  • XM – Best MoneyGram Forex Broker for Beginners
  • BlackBull Markets – Best MT4 Forex Broker offering MoneyGram
  • FP Markets – Best Low Spread Forex Broker with MoneyGram

Best Overall Broker MoneyGram Forex

We picked eToro as the best MoneyGram forex broker overall.

eToro is a market leading social trading platform offering a good selection of brokerage features. It provides trading with multiple markets, such as forex, indices, commodities, stocks, exchange-traded funds (ETFs), and cryptocurrencies. The broker holds several licenses from UK, USA, Australia, and Cyprus regulators.

eToro allows MoneyGram to make deposits or withdrawals for multiple currencies with a minimum deposit of $100.

In general, eToro offers good trading conditions with free commissions and tight spreads on major market assets. Its easy to use platform attracts many clients, especially those who just decided to dig deeper into the forex market. It is also one of the most popular social trading platforms overall.

Best Forex Account MoneyGram for Beginners

We picked XM as the best Payoneer forex broker with a low deposit.

Founded in 2009, XM is a subsidiary company of Trading Point Holdings, providing forex and CFD trading to its clients across the globe. The broker offers over 1,000 tradable instruments in forex, commodities, stocks, indices, and cryptocurrencies with a minimum deposit as low as $1 and accepts MoneyGram as one of its payment options.

XM provides novice traders with excellent educational materials under its Tradepedia platform. This includes free access to courses, webinars and video tutorials that are suitable for beginners as well as tools which provide market research on different trading-related topics.

Best MT4 Forex Brokers with MoneyGram Deposit

We picked BlackBull Markets as the best Payoneer forex broker providing the MT4 platform.

Operating since 2014, BlackBull is a New Zealand-based forex and CFD broker offering its clients over 200 tradable instruments in forex, indices, stocks, and commodities. The broker is popular with its high leverage of 500:1 with a good trading environment and 24/7 support.

BlackBull provides an outstanding trading experience through MT4 giving access to such features as interactive charts, technical indicators, and more with the lowest spreads. The broker allows $200 minimum deposit through MoneyGram.

Best Forex Trading MoneyGram Broker with Lowest Spread

Founded in 2005, FP Markets, also known as First Prudential Markets is a global Forex and CFD provider headquartered in Australia. FP Markets offers a range of tradable instruments in forex, stocks, indices, commodities, and cryptocurrencies. The broker is best known for offering forex ECN pricing.

Our test showed that most of the spreads offered by the broker are lower than that industry average with 1.2 pips for forex and 1.3 pips for indices. MoneyGram is accepted as one of the payment methods for FP Markets.

MoneyGram Forex Broker List

Apart from the above-mentioned list of MoneyGram forex brokers, here’s a list of some of the forex brokers accepting MoneyGram. Not many brokers accept MoneyGram as a funding method.

Forex BrokerMoneyGramTest DetailsBroker Review
XM✔️ Deposit Amount: Over €5,000
Total Trade: 12 trades
XM Review
Pepperstone✔️ Deposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
eToro✔️ Deposit Amount: Over $6,000
Total Trade: 18 trades
eToro Review
Plus 500 ✔️ Deposit Amount: Over €6,000
Total Trade: 18 trades
Plus500 Review
Tickmill✔️ Deposit Amount: Over $8,000
Total Trade: 12 trades
Tickmill Review
BlackBull Markets✔️ Deposit Amount: Over €4,000
Total Trade: 12 trades
BlackBull Markets Review
FP Markets✔️ Deposit Amount: Over €6,000
Total Trade: 12 trades
FP Markets Review
HFM Markes✔️ Visit HFM Markets
Axiory✔️ Visit Axiory
BDSwiss✔️ Visit BDSwiss

FAQ and More on Forex Brokers with MoneyGram

Many traders often have a lot of questions regarding trading. We tried to find some of the most important questions related to MoneyGram forex brokers and give comprehensive answers.

MoneyGram Withdrawal in Forex

In most cases forex brokers allowing MoneyGram deposits also allow withdrawing funds; however, some regional restrictions might be applicable.

Withdrawing your funds from your trading account to your MoneyGram account is a simple process. You need to choose MoneyGram as a payment method in your account payment section and enter the amount of money you want to withdrawal. Most transfers take 3-4 business days to be executed.

US brokers that Allow MoneyGram

All forex brokers must be registered and authorised by the Commodity Futures Trading Commission (CFTC) and be a member of the National Futures Association (NFA) to legally operate in the United States. 

Here are some of the US MoneyGram Forex Brokers:

  • eToro
  • Forex.com

Europe Brokers that accept MoneyGram

Europian Union is highly beneficial region for forex trading. Most of the forex brokers hold several regulatory licenses from different countries.

Here are some of the most popular European brokers accepting MoneyGram as a funding option:

  • XM
  • Pepperstone