Forex Trading with Amex

amexAmerican Express is the third most popular provider of credit and debit cards. This is one of the oldest financial services corporations and it has been offering its services for over 150 years. Currently, American Express is part of the Dow Jones Industrial Average and a component of the S&P 500 Index. According to last year’s figures, American Express cards generate 24% of the total credit card transactions in the United States.

Despite the company’s name, their credit and debit cards are offered around the entire world, so it is very likely that you can get an AmEx credit card from your local banking institution. These cards are quite popular among traders, because they are accepted by major Forex brokers, so you can easily withdraw or deposit funds in your account.

Amex Forex Brokers

AmEx cards are quite popular because of the unique cash back rewards that often come with them. In some countries, you can get up to 5% cash-back from all your purchases done with an AmEx credit card. Not only this, but AmEx cards also don’t have a spending limit, so you won’t have any problems making large purchases or spending a lot of money in a short amount of time. Of course, depending on your budget and needs, you can ask your banking institution to set specific limits.

Unfortunately, AmEx cards have one huge flaw and this is the fact that they aren’t accepted in many major stores, so it is always a good idea to have a back-up credit card. The other problem with AmEx cards is the large annual fee that you need to pay in order to keep using the card, but depending on your budget and requirements, the fee may not be a major issue for you.

These cards are liked by many Forex traders, but they are still not as popular as VISA or MasterCard. With an American Express credit card, you’ll be able to work with a wide range of Forex brokers and deposit or withdraw money using different currencies.

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