| Updated: September 15, 2025- Jump to:
- How to Deposit
- How to Withdraw
- Pros of Using POLi
- Cons of Using POLi
- Fees and Limits
- POLi Chargeback
- Security
- Conclusion
Are you looking for regulated and trustworthy Forex brokers that accept POLi? This payment option allows customers to pay directly and securely using online banking. Our expert team of traders tested many Forex brokers using real accounts and compiled a list of the best that accept POLi.
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POLi has increasingly come into focus for many users. POLi Payments Pty Ltd, which operates the service, was established in 2006 in Melbourne, Australia. At present, POLi operates exclusively in New Zealand and Australia, but it appears the company intends to expand its footprint in the near future.
POLi is an online payment option that has risen to the top thanks to its efficiency and user-friendliness. The solution has a constantly growing user base and enjoys the approval of many Forex traders. One of POLi’s most notable benefits is that using the method does not require a credit or debit card. Instead, you can purchase goods or transfer funds to your Forex trading account via online banking.
How to fund a Forex account with POLi
POLi is extremely easy to use, which is one of its main benefits. Traders will be spared the hassle of going through lengthy registration procedures before they can make payments via POLi. Many traders choose this method because they do not need to remember additional login credentials, as is the case with e-wallets. In practice, POLi acts as a mediator between your bank and the broker. Thus, traders avoid the inconvenience that usually arises when they have to enter personal and banking details after choosing a bank transfer.
The only requirement to use the payment method is to have an account with one of the financial institutions that POLi supports.
POLi partners with six banks in New Zealand: Bank of New Zealand, Kiwibank, TSB Bank, Westpac, ASB and ANZ. Australians can manage their funds through POLi provided they have an account with Bank of Melbourne, Bankwest, Commonwealth Bank, NAB, ME Bank, ANZ, BOQ, BankSA, Bendigo Bank, Citibank, CUA, IMB Building Society, Newcastle Permanent, People’s Choice Credit Union, Suncorp or St. George Bank.
As long as your bank appears in the list above, you can start uploading funds to your Forex trading account. Simply visit your chosen broker and navigate to the page listing all available funding methods. After selecting POLi as your preferred option, choose your bank, select the transaction currency, and decide how much you wish to load. For added convenience, traders are not asked to enter further information because POLi automatically completes the required details.
If you have not used POLi before, you may wish to execute a payment in demo mode to familiarise yourself with the process.
When the pop-up window appears, enter your online banking credentials to log in. Once you have authorised the transaction, you can begin trading immediately, as deposits via POLi are almost instantaneous.
How to withdraw from a Forex trading account with POLi
When trading Forex, you need a convenient banking solution for withdrawals as well as deposits. Although POLi excels for deposits, one of its biggest shortcomings is that it is unavailable when it comes to withdrawing your profits.
In other words, you must select another payment method to withdraw your funds easily. Many traders opt for a bank transfer when requesting a cash-out, although better options may sometimes be available.
Thankfully, most brokers offer ample withdrawal options, so traders are unlikely to struggle when choosing another method.
Benefits of using POLi for Forex trading
POLi has gained considerable popularity in recent years, so many brokers now offer it as a convenient way to fund your account. However, to determine whether POLi suits you, it is wise to weigh up its benefits and drawbacks.
Firstly, unlike many similar services, POLi does not charge a registration fee, making it a budget-friendly option. Payments via the solution are also free: whenever you make a transaction, you are not charged extra fees. The company endeavours to ensure transactions remain cost-free for all customers, which is laudable.
POLi has removed the previously required registration steps, which were simply annoying and could even deter users from using the service. Completing a payment via POLi merely involves logging into your online banking and confirming the transaction.
Some readers may have concerns about using their online banking. The company places great emphasis on customer satisfaction and the safety of personal and banking data. To achieve this, the company never stores the username and password traders use to access online banking. In addition, the system undergoes regular audits to ensure any vulnerabilities are detected and addressed promptly.
Another reason why security-conscious traders favour POLi is that payments do not involve linking a credit or debit card, as is often required by other processors. Indeed, traders do not even need to possess a card to make payments through POLi.
Perhaps the speed of transactions is the benefit traders appreciate most. Depositing via POLi is instant, with funds credited to your balance in the blink of an eye. Needless to say, time-efficiency is crucial for traders.
Disadvantages of using POLi for Forex trading
Although traders enjoy many perks when managing funds through POLi, the method has a few weaknesses they should consider.
First and foremost, traders can use POLi only if they hold an account with one of the supported banks. Because other payment solutions are more widely available, they may be preferred over POLi.
Although POLi collaborates with several banks in New Zealand and Australia, customers of unsupported institutions cannot use it. In such cases, traders must either choose another payment solution or open an account with one of the listed banks.
The other major disadvantage is that POLi supports only one-way transactions. Forex traders cannot withdraw via POLi, so they must choose a different method to access their winnings.
Another drawback is that payments made via POLi cannot be reversed. Therefore, if you intend to use the service, always double-check the transaction details before confirming.
Fees and limits when using POLi to trade Forex
Affordability remains one of the payment solution’s most distinctive traits. Whereas many processors charge fees for account setup and each transaction, POLi takes a different approach.
POLi never charges extra fees for transactions, which gives it a clear advantage over many other solutions. The company also encourages merchants not to apply additional charges to payments processed via POLi because it aims to make the service completely free for users.
That said, before depositing via POLi, traders should check whether their broker applies extra charges to transactions made through this processor. The vast majority of brokers do not levy such fees and, if they do, they are usually negligible.
POLi chargeback on a Forex account
If traders cannot withdraw the profit in their balance, they should first contact the broker’s support team. If the broker fails to provide an explanation, consider contacting the regulator that issued the broker’s licence.
Chargebacks are another option, but they should be viewed as a last resort. Traders must remember that transactions executed through POLi cannot be reversed. According to the company’s terms and conditions, users who detect a mistaken or unauthorised payment must contact their bank to clarify the situation.
Whereas cardholders can dispute transactions, this option is unavailable to POLi users. Therefore, examine brokers carefully before placing your trust in them.
Security when trading Forex with POLi
Although POLi has several downsides, it remains one of the most straightforward and secure ways to top up your Forex trading account. As noted, POLi acts as a proxy, giving you instant access to online banking. Traders do not expose personal or banking details to POLi because no account needs to be created to process transactions.
The company does not store the credentials used to log into your online banking, further strengthening transaction security. Moreover, none of your payment requests is stored on the company’s servers, so no one can view them even if a security fault is detected.
POLi undergoes regular external security checks, which should inspire additional confidence. The company also employs 2048-bit encryption to secure communications, demonstrating its strong focus on security.
Conclusion
Ultimately, POLi remains a good alternative for Forex trading, especially if traders do not mind using another payment solution for withdrawals. Deposits via POLi are instant and, in most cases, free. However, a major limitation is that the service is available only to users who hold an account with one of the supported banks in New Zealand or Australia.