| Updated: September 15, 2025- Jump to:
- How to Deposit
- How to Withdraw
- Pros of Using Paysafecard
- Cons of Using Paysafecard
- Fees and Limits
- Paysafecard Chargeback
- Security
- Conclusion
Are you looking for regulated and trustworthy forex brokers accepting Paysafecard? Our expert team of traders has tested many forex brokers using real accounts and compiled a list of the best ones that accept Paysafecard. Paysafecard is one of the most popular prepaid solutions currently available on the internet. It is one of several services operated by Paysafe Group, a company regulated by the UK Financial Conduct Authority.
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Currently, Paysafecard is available in dozens of countries and hundreds of thousands of retail locations all over the world. Moreover, its support is unparalleled by any other prepaid service and rivals credit cards and e-wallets in accessibility. As it happens, the online forex trading scene is also quite fond of Paysafecard and there are plenty of broker websites willing to accept payments via this method. Below, we will discuss the important aspects of using Paysafecard to trade forex and what you can expect from this prepaid solution.
How to fund a forex account with Paysafecard
Making a deposit via Paysafecard is one of the easiest aspects of forex trading, and after you have completed the procedure once, you will have no trouble repeating it. The process is quite straightforward and not very different from other payment methods. All you need to do is take your Paysafecard voucher and note the 16-digit code printed on it. Then, locate the payments page on the broker’s website and choose Paysafecard from the list of supported services. Enter the amount you wish to deposit and the code from the receipt. Once you confirm the transaction, the money will instantly appear in your balance, and you can use it to trade as you see fit.
Depositing via Paysafecard is simple and straightforward. You do not have to deal with many of the challenges that plague other banking solutions. Additionally, the process is identical on both desktop and mobile devices, giving you the opportunity to use all your devices for your forex trading needs.
How to withdraw from a forex account with Paysafecard
Withdrawals are not possible with Paysafecard. While the forex trading industry requires the constant movement of money between brokers and customers, Paysafecard was not designed with this in mind. Instead, it was created for small digital purchases rather than large-scale transactions. As such, Paysafecard can move money in only one direction – towards the broker. If you wish to cash out your balance, you will not be refused, but it will not happen via Paysafecard.
Most forex brokers will allow you to withdraw your funds via an old-fashioned bank transfer. To this end, you will need to provide the broker with your banking information and then wait for the payment to be approved. Once approved, the transaction will typically take between one and five business days to be processed.
Benefits of using Paysafecard for forex trading
Paysafecard offers several advantages that make the service appealing to customers. These benefits come in various forms and can have a significant impact on your forex trading experience. To begin with, Paysafecard facilitates instant deposits. The service is quick and effective at processing payments, ensuring you experience no downtime.
Another point to consider is that, for the most part, the service is completely free. There are no fees for making transactions or for purchasing a voucher. You will only be charged if you wish to withdraw the balance of a Paysafecard PIN to your bank account, after a long period of inactivity, or when making a transaction in a foreign currency. Naturally, these charges can be avoided with a little planning.
Another great advantage of Paysafecard is its availability at more than 400,000 retail locations worldwide. The chances are that there is a store near you offering Paysafecard vouchers, and you can easily pick one up. You can even do so during your regular errands. In terms of availability and ease of use, few services can compete with Paysafecard.
Disadvantages of using Paysafecard for forex trading
There are several reasons why Paysafecard may not be suitable for forex trading, and you should be aware of them before choosing a payment method. To begin with, the service does not support withdrawals, so you will need to find an alternative way to cash out. Typically, brokers will allow you to withdraw your balance via bank transfer, but this method is relatively slow and can take several business days to process.
Another drawback is that Paysafecard can have very low transaction limits. A single Paysafecard PIN can hold only up to $100, or an equivalent amount in another currency. This limit is exceptionally low, and most traders will find it inadequate. Although you can link several vouchers in the same transaction, this is not an ideal way to deposit funds. It is inconvenient and requires you to purchase multiple PINs in advance. If you wish to deposit sums in the thousands, you will need a different banking solution.
Last but not least, you have to purchase a physical voucher each time you want to deposit. Over time, repeatedly visiting a retail outlet can become inconvenient.
Fees and limits when using Paysafecard to trade forex
Paysafecard has clearly defined transaction limits and a fee structure that is generally advantageous to customers. Regarding the limits, Paysafecard is rather restricted. A voucher can be purchased in several denominations, with $100 being the maximum value per single PIN. On its own, this is incredibly low and will not satisfy the vast majority of traders. However, customers can link up to 10 PINs per transaction, allowing for a maximum payment of $1,000 at once. While this enables higher transfers, it is not an elegant solution, nor does it offer the flexibility of services with higher limits. Please note that Paysafecard applies different limits depending on the country, so there may be some discrepancies.
As far as cost is concerned, you can use Paysafecard for quite some time before you have to pay anything. Transactions carried out with Paysafecard are free on the service’s end, as is purchasing the voucher itself. However, fees can apply in certain circumstances. For instance, making a deposit in a foreign currency will incur exchange fees. Furthermore, an unused Paysafecard PIN will cost you $2.00 per month after 12 months of inactivity. Additionally, if you wish to withdraw the balance of a Paysafecard voucher, $7.50 will be deducted from the total amount.
Paysafecard chargeback on forex account
One area in which Paysafecard is notoriously inflexible is refunds and chargebacks. Specifically, there are no chargebacks when using Paysafecard in any form. The company does not reverse transactions under any circumstances – whether you make a payment by mistake, your PIN is stolen, or something else happens. If you are not careful with your money, there is no recourse and you will have to bear the loss.
Therefore, if you are scammed and a broker refuses to pay out, you will have no options at your disposal. This is something you really have to take into consideration if you choose to use Paysafecard for forex trading. If that is not a risk you are willing to accept, you would be better off with another payment solution.
Security when trading forex with Paysafecard
When it comes to security, Paysafecard can be ideal for certain customers, particularly those reluctant to share sensitive information online. The main advantage is that you are never required to submit any personal data. You can simply walk up to the counter at a retail location and purchase a voucher with no prior requirements. As a result, your important data cannot be leaked if it was never submitted in the first place.
Of course, if you wish to cash out you will have to use a different solution, most commonly a bank transfer. For this purpose, the broker will ask for your banking details, which will be stored behind a wall of high-end encryption. This makes the information illegible to any unauthorised parties, allowing you to trade in peace, knowing that you are not at risk.
Conclusion
All in all, Paysafecard is suitable for a niche group of customers, whereas many others may be better off with a different payment solution. The low limits and lack of withdrawal functionality prevent this service from being a premium payment method.