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Best Payoneer Forex Brokers 2023

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

To select the best Payoneer 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, as well as spreads, fees, etc.. We also contacted the customer support team. Eventually we withdrew out funds to see if there’s any issue.

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

What is Payoneer?

Payoneer is a global payment solution providing money transfer and digital payment services, as well as working capital.

For more information, visit the Payoneer website – payoneer.com or read the Wikipedia article.

  • The company is headquartered in New York with approximately 1,200 people employed
  • Companies like Google, Airbnb, Amazon, and Upwork use Payoneer to execute mass payouts worldwide
  • In 2019, Payoneer partnered with Toptal freelancing platform to facilitate cross-border payment
  • In 2021, Payoneer went public on Nasdaq under the ticket PAYO

Unlike PayPal or any other similar platforms, Payoneer is not an all-in-one payment provider, nor a merchant account provider. Its main purpose is to enable businesses to pay each other domestically or internationally.

Payoneer’s technical characteristics:

Devices Payoneer
Web✔️
IOS✔️
Android✔️
Desktop
Support
Online✔️
Phone✔️

Best Payoneer Supported Forex Brokers

It should be noted that there are not so many brokers with Payoneer, also some limitations for withdrawal might be applicable.

To come up with this list. we have searched and tested several forex brokers accepting Payoneer 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.

  • Pepperstone – Best Overall Forex Broker with Payoneer Deposit
  • XM – Best Broker who uses Payoneer for Beginners
  • FP Markets – Best Broker with Payoneer Low Minimum Deposit
  • Blackbull Markets – Best Payoneer Broker with MT4 Platform

Best Overall Forex Broker with Payoneer Deposit

We chose Pepperstone as the best Payoneer forex broker overall.

Founded in 2010, Pepperstone is a global CFD and forex reading provider licensed by 5 regulators worldwide including top-tier FCA, ASIC, and CySEC. The broker gives clients access to forex pairs, indices, stocks, commodities, cryptocurrencies, and a currency index.

Pepperstone offers competitive spreads with only 1.15 pips on EUR/USD pair with excellent trading conditions and unlimited trading strategies. Moreover, the broker offers excellent educational materials suitable for both beginner and expert traders.

Best Broker who uses Payoneer for Beginners

We picked XM as the best Payoneer forex broker for beginners.

Founded in 1974, IG is world-winning forex and CFD trading provider serving over 178,000 clients across 13 countries. The broker is highly regulated with multiple tradable instruments.

IG offers novice traders excellent educational materials under its IG Academia platform providing free access to its courses, webinars, and video tutorials suitable for beginners, also provides free access to market research tools, and a demo account allowing beginners to try different trading strategies before starting real trades.

Best Broker with Payoneer Low Minimum Deposit

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

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

XM offers novice traders excellent educational materials under its Tradepedia platform providing free access to its courses, webinars, and video tutorials suitable for beginners, also provides free access to market research tools.

Best Payoneer Broker with MT4 Platform

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

Established in 2014, BlackBull is a New Zealand-based forex and CFD broker offering its clients over 200 tradable instruments in forex, indices, stocks, and commodities. It’s one of the few regulated forex brokers with 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.

List of Forex Brokers that Accept Payoneer

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

Forex BrokerPayoneerTest 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
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
IG✔️ Visit IG Markets
BDSwiss✔️ Visit BDSwiss

FAQ and More on Forex Brokers Accepting Payoneer as a Payment Method

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

Can I Withdraw with Payoneer from Forex Broker?

Typically Payoneer forex brokers allow traders to withdraw their funds from their forex accounts. However, some limitations might be applicable.

The withdrawing process from your forex account to your Payoneer is as simple as the deposit process. At your broker’s payment section you need to select Payoneer as a withdrawal option entering the amount of money you want to withdraw.

It generally takes 2-5 business days for your funds to transfer to your Payoneer account.