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10 Best Forex Brokers accepting Cheques

A Cheque refers to a negotiable instrument which contains an unconditional order to a traders chosen bank to pay a certain sum mentioned in the cheque, from the investors account, to the person, business or broker to whom it is issued, or to the order of the specified person or the bearer.

 

  

 

 

10 Best Handpicked Forex Brokers accepting Cheques (2022):

  1. ✔️ Forex.com

 

Unfortunately, the selection of brokers who accept Cheques as a method of payment is few and far between.

 

Forex.com

Overall Rating

4.7/5

Rated #231 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FCA, CySec 

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

50

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Forex.com is a platform that can be used for trading foreign currencies and precious metals. Traders can trade over 80 currency pairs as well as silver and gold.

 

Pros and Cons

✔️ Pros❌ Cons
Segregates client fundsDoesn’t offer VPS
Established in 1999Not ASIC Regulated
Regulated by FCA
Minimum deposit from $50

 

To open a live trading account, traders will need a minimum deposit of at least $50.

 

Trading benefits

📊 Trading Features🔣 Accounts offered💰 Funding methods
Allows scalpingDemo accountCredit cards
Allows hedgingMini accountBank Transfer
Offers STPStandard account
Low minimum depositECN account
Islamic account

 

Customer support is available by phone, live chat, or email 24 hours a day during market hours.

 

IC Markets

Overall Rating

4.7/5

Rated #37 of
Recommended FX Brokers

💰Minimum Deposit

USD 200

🌐 Regulators

ASIC, CySEC, FSA, SCB

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

65

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

IC Markets is a regulated Forex ECN and CFD broker which offers more than 236+ financial instruments across Forex, Commodities, Indices, Bonds, Cryptocurrency, Stocks, and Futures on the MetaTrader 4, MetaTrader 5, and cTrader platforms for desktop, web, and mobile.  IC Markets is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), as well as the Seychelles Financial Services Authority (FSA).

 

Pros and Cons

✔️ Pros❌ Cons
Segregates client fundsLimited range of instruments
Established in 2007Not FCA Regulated
Regulated by ASIC
Minimum deposit from $200

 

IC Markets offers traders three main types of live trading accounts to choose from, including  Raw Islamic swap-free accounts and the use of a free demo trading account.

 

Trading benefits

📊 Trading Features🔣 Accounts offered💰 Funding methods
Allows scalpingDemo accountCredit cards
Allows hedgingMini accountBank Transfer
Offers STPStandard accountNeteller
Low minimum depositZero spread accountPayPal
ECN accountSkrill
Islamic account

 

Customer support is available 24/7 via Live Chat, Phone, and Email.

 

FXCM

Overall Rating

4.6/5

Rated #26 of
Recommended FX Brokers

💰Minimum Deposit

USD 300

🌐 Regulators

FCA, FSCA

📱 Trading Desk

MetaTrader 4, Trading Station

Crypto

Yes

📈 Total Pairs

7

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Forex Capital Markets Limited or FXCM is a Spread Betting, CFD, and Forex trading broker, authorized and regulated by the UK Financial Conduct Authority under the Forex Capital Markets Limited and is part of the Leucadia Company, which offers users the ability to trade on Forex, Forex Baskets, Indices, Commodities and Crypto on its own proprietary Trading Station platform for Desktop, Web, and Mobile, as well as on MetaTrader 4, NinaTrader and ZuluTrade.

 

Pros and Cons

✔️ Pros❌ Cons
Segregates client fundsLimited range of instruments
Established in 1999
Regulated by FCA
Minimum deposit from $1

 

FXCM offers traders 4 main types of trading accounts to choose from, including  Spread Betting, CFD Trading, Active Trader,s and Professional Clients. A Free Demo account is also made available.

 

Trading benefits

📊 Trading Features🔣 Accounts offered💰 Funding methods
Allows scalpingDemo accountCredit cards
Allows hedgingMini accountBank Transfer
Offers STPStandard accountPayoneer
Low min depositIslamic account

 

Customer Support is available via Live Chat, Phone, Email, and SMS.

 

FP Markets

Overall Rating

4.7/5

Rated #23 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

ASIC, CySEC

📱 Trading Desk

MT4, MT5

Crypto

Yes

📈 Total Pairs

60

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

FP Markets is a global, online broker regulated by the Australian ASIC and the Cypriot CySEC which was founded in 2005 and offer Forex trading and has a head office situated in Australia. When starting off with FP Markets traders will need to make a minimum deposit of $100 and a demo account is on offer with a wide variety of instruments and currency pairs on offer.

 

Over 100 instruments and over 60 currency pairs in total is on offer, on the popular MT4 forex trading platform.  FP Markets also offers traders mobile apps for Android and iOS.

 

Pros and Cons

✔️ Pros❌ Cons
Low Forex FeesHigh Stock CFD fees
Easy Account OpeningLimited Product Portfolio
Quick Deposit and WithdrawalOutdated Platform

 

Trading benefits

📊 Trading Features🔣 Accounts offered💰 Funding methods
Allows scalpingMini accountBank Transfer
Allows hedgingStandard accountCredit/Debit
Offers STPECN accountElectronic Wallets
Low min depositSTP account
Offers Negative Balance ProtectionManaged account

 

All accounts support a wide range of languages including English, Spanish, Portuguese, Romanian, Bulgarian, Arabic, Russian, French, Italian, Greek, Philippines, Latvian, Polish, Indonesian, Thai, Malay, German, and Vietnamese.

 

Customer Service is available via email, phone, and live chat.

 

Forex Time (FXTM)

Overall Rating

4.6/5

Rated #32 of
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators

CySec, FSCA 

📱 Trading Desk

MetaTrader4, Metatrader 5

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

FXTM or ForexTime was founded in 2011 and is a registered brand name of Exinity Limited, regulated by the Financial Services Commission of Mauritius with license number C113012295.  FXTM offers users seven different account types where the execution method, range of markets, available platform, and commissions and fees may vary.  Three accounts are offered under the Standard category.  Forex Time (FXTM) is a MetaTrader broker which offers forex and CFD traders multiple account options for both MT4 and MT5 platforms.

 

Pros and Cons

✔️ Pros❌ Cons
Segregates client fundsLimited range of instruments
Established in 2011Not ASIC Regulated
Regulated by CySEC
Minimum deposit from $10

 

FXTM provides research in the form of daily technical and fundamental news analysis provided by an in-house team of analysts.

 

Trading benefits

📊 Trading Features🔣 Accounts offered💰 Funding methods
Allows scalpingDemo accountCredit cards
Allows hedgingMicro accountBank Transfer
Offers STPMini accountPayoneer
Low minimum depositStandard accountNeteller
Offers Negative Balance ProtectionZero spread account
ECN account
Islamic account

 

Customer Service is available by phone, email, and online chat options – WhatsApp, live chat, Viber, Telegram, or Messenger.

 

eToro

Overall Rating

4.8/5

Rated #20 of
Recommended FX Brokers

💰Minimum Deposit

USD 50

🌐 Regulators

CySec, FCA 

📱 Trading Desk

No Trading Desk

Crypto

Yes

📈 Total Pairs

47

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

* Etoro has lowered the amount of the minimum FTD to $ 50 for the following countries: Germany, Austria, Netherlands, Norway, UK, Ireland, Spain, Italy, Sweden, Switzerland.

 

eToro is an online broker which was founded in 2006 and offers CFDs and Social Trading, with a head office based in Cyprus, UK.  eToro is supervised by the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) regulatory bodies, and has been in operation for over 14 years.

 

Pros and Cons

✔️ Pros❌ Cons
Used by 6,000,000+ tradersDoesn’t allow scalping
Established in 2006Inactivity Fee
Regulated by FCA, CySEC, and ASICLimited range of instruments

 

eToro offers traders two ways to trade: CFDs, Social Trading and eToro traders will need to make a minimum deposit of $200 and the platform can accommodate various levels of traders from beginner to expert.  Traders can trade in a wide variety of over 100 instruments and over 50 currency pairs on eToro’s user-friendly custom trading platform which is available as a browser-based web application. eToro also offers traders mobile apps for Android and iOS, making it easier to keep an eye on and execute trades.

 

Trading benefits

📊 Trading Features🔣 Accounts offered💰 Funding methods
Offers STPDemo accountCredit cards
Low minimum depositMicro accountBank Transfer
Mini accountPayPal
Standard accountSkrill
Islamic accountPayoneer
Neteller

 

eToro supports a wide range of languages including English, German, Spanish, French, and Italian.  24/6 customer support is available via telephone and support ticket.

 

EasyMarkets

Overall Rating

4.9/5

Rated #18 of
Recommended FX Brokers

💰Minimum Deposit

$100

🌐 Regulators

CySEC, ASIC, BVI, FSA

📱 Trading Desk

MetaTrader 4, TradingView

Crypto

Yes

📈 Total Pairs

275+

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

EasyMarkets is one of the most popular choices for Beginners and is regulated by CSEC (Cyprus) and ASIC (Australia) and offers beginner forex traders:

 

  • Enhanced risk management tools as standard
  • Fixed spreads on all forex pairings
  • An easy-to-use forex trading platform

 

Pros and Cons

✔️ Pros❌ Cons
Segregates client fundsDoesn’t offer VPS
Established in 2003Limited range of instruments
Regulated by CySEC and ASICNot FCA Regulated
Minimum deposit from $1

 

The available trading platforms offered are MT4 and the EasyMarkets web platform.

 

Trading benefits

📊 Trading Features🔣 Accounts offered💰 Funding methods
Allows scalpingDemo accountCredit cards
Allows hedgingMicro accountBank Transfer
Low minimum depositMini accountPayoneer
Guaranteed stop lossStandard accountNeteller
Offers Negative Balance ProtectionIslamic account

 

Customer Support is available 24/5 via various chat channels, email, phone, and web forms.

 

FBS

Over 16 000 000+ Traders

Overall Rating

4.7/5

Rated #71 of
Recommended FX Brokers

💰Minimum Deposit

USD 1

🌐 Regulators

IFSC, FSCA (south africa), ASIC, CySEC

📱 Trading Desk

MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform

Crypto

Yes

📈 Total Pairs

250

☪️ Islamic Account

No

📊 Trading Fees

Low

Welcome bonus

$140 (Find out More)

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

FBS

 

FBS is a Forex and CFD broker which is authorized and regulated by the International Financial Services Commission (IFSC) of Belize and the Cyprus Securities and Exchange Commission (CySEC).

 

Pros and Cons

✔️ Pros❌ Cons
Negative Balance ProtectionLimited Tradable assets
Excellent RegulationLimited Trading Platforms
Available in Multiple Countries
Award-Winning Service

 

FBS offers users the option to trade on Forex, Indices, Stocks, Metals, and Energies across the MetaTrader 4, MetaTrader 5, and FBS Trader trading platforms.

 

Trading benefits

📊 Trading Features🔣 Accounts offered💰 Funding methods
Copy TradingCent accountWire Transfer
Rapid Order ExecutionMicro accountCredit/Debit
Standard accountNeteller
Zero spread accountBitwallet
ECN accountPerfect Money

 

Customer Support is available 24/7 via a Call-back service, online Live Chat, Telegram, Viber, and Facebook Messenger.

 

IG

Overall Rating

4.8/5

Rated #38 of 
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF.

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

80

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

IG Group was founded in 1974 and is regulated by the Financial Conduct Authority (FCA) in the U.K. and the Australian Securities and Investment Commission (ASIC) in Australia.

 

Pros and Cons

✔️ Pros❌ Cons
Used by 178,000+ tradersInactivity Fee
Established in 1974Limited range of instruments
Regulated by Financial Conduct Authority and ASIC
Minimum deposit from $250

 

The country of a trader’s residency will determine which account type they can open. In most countries, they will only be able to trade forex, CFDs, and options.  Traders can choose between two trading platforms, IG’s proprietary trading platform or MetaTrader 4.

 

Trading benefits

📊 Trading Features🔣 Accounts offered💰 Funding methods
Allows scalpingDemo accountCredit cards
Allows hedgingMini accountBank Transfer
Offers STPStandard accountPayPal
Low minimum depositPayoneer
Guaranteed stop loss

 

Customer Service is available 24/7 via Phone, Live Chat, and Email.

 

HYCM

Overall Rating

4.5/5

Rated #36 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FCA

📱 Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

📈 Total Pairs

69

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

HYCM is an online broker which was founded in 1977 and offers Forex and CFDs trading on the popular MT4 forex trading platform plus mobile apps for Android and iOS.

 

Pros and Cons

✔️ Pros❌ Cons
Segregates client fundsDoesn’t offer VPS
Established in 1977Inactivity Fee
Regulated by FCALimited range of instruments
Minimum deposit from $1Not ASIC Regulated

 

Traders starting off with HYCM will need to make a minimum deposit of at least $100 and have the choice to sign up for a demo account perfect for various levels of traders, experienced or novice.

A wide variety of instruments and currency pairs are available for trade namely over 100 instruments and over 40 currency pairs

 

Trading benefits

📊 Trading Features🔣 Accounts offered💰 Funding methods
Allows scalpingMicro accountCredit cards
Allows hedgingMini accountBank Transfer
Low minimum depositStandard accountPayPal
Islamic accountPayoneer

 

HYCM customer service is available through WhatsApp, Skype, Viber, Telegram Instant messaging services, Facebook Chat, and Phone – 24/5.

 

  

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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