Western Union is a public company and one of the largest online and in-person wire transfer services available. In the financial services industry, the best Western Union forex brokers are leading trading platforms that can be funded with the Western Union money-transfer solution.

For this guide, we’ll be looking through some of the key features and benefits of the top forex brokers that accept Western Union. We’ll compare the trading experiences, pricing models, spreads, and more. Let’s begin.

The 8 Best Western Union Forex Brokers in 2024 List

Here’s the list of the ten best Western Union forex brokers based on our research.

  1. XTB – Leading Western Union Forex Broker with Fast Trade Executions
  2. Libertex – Established Western Union Broker with Mobile Application
  3. Pepperstone – Spread Betting Forex Broker for Multiple Platforms
  4. AvaTrade – Best MT4 Western Union Broker with Low Trading Costs
  5. Forex.com – Leveraged CFD Western Union Forex Broker available for US Traders
  6. FXTM – Low Spread Western Union Forex Broker with Trading Guides
  7. Blueberry Markets – Trusted Western Union Broker with Trade Signals
  8. Vantage – Top Western Union Forex Broker for Fast Account Opening

Top Western Union Forex Brokers Reviewed 

Western Union is known as the pioneer and frontrunner of global money-transferring services and can be used to fund trading accounts through bank transfers or a prepaid cards. In the section below, we provide reviews that highlight the different benefits of using the best Western Union forex brokers.

1. XTB – Leading Western Union Forex Broker with Fast Trade Executions

xtb-logo

XTB is the leading CFD forex broker for the European market. Headquartered in Poland, the broker has almost 20 years of market experience under its belt and offers one of the most powerful trading platforms in terms of execution speeds and trading tools.

Over 4,000 instruments are supported on their platform, xStation, which has a simple yet intuitive design that can even be accessed on mobile devices. A built-in trading calculator is an important forex risk management component to the XTB trading experience as clients can already estimate the total costs of opening positions.

xtb platform

Customer support is another area where XTB shines as the service runs 24/7 to answer all queries and problems on the platform. The XTB group is also regulated by the top financial bodies like the FCA, FSC, and KNF. Anyone can try the platform out as XTB offers a 30-day free demo account that takes just a few minutes to set up.

Forex Pairs 48 pairs
Max Leverage 1:30 leverage for retail clients
Pricing 0% commission
Spread for USD/EUR From 0.1 pips
Minimum Deposit Requirement None
Trading Platforms Proprietary platform
Accepts US Clients No

What We Like

  • Fast trade speeds at low spreads
  • No dealing desk required for orders
  • Demo trading account available
  • Mobile app available
  • MT4 integrated
  • Over 2,100 global markets supported

Your capital is at risk. 77% of retail CFD accounts lose money.

2. Libertex – Established Western Union Broker with Mobile Application

libertex logo Libertex is another well-established forex broker from Europe. The broker has its own proprietary web and mobile platform as well as support for MT4 and MetaTrader 5 (MT5). They cater to over 3 million clients that span over 120 different countries.

Thanks to its low spreads and instant trade executions, Libertex is also one of the best scalping brokers for traders. On the web platform, 51 currency pairs are supported with up to 1:30 leverage for forex trading while accounts trading through MT4 and MT5 can use up to 1:1000 leverage. 

libertex home

Additionally, there are other types of trading instruments offered on the Libertex platform. These include ETFs, cryptocurrencies, commodities, and stocks which can be traded in the short term or bought for the long term with 0% commissions. Some of the best forex signals can be found in the different platforms that Libertex supports.

Forex Pairs 51 pairs
Max Leverage 1:30 leverage for retail clients
Pricing From 0% commission
Spread for USD/EUR From 0.3 pips
Minimum Deposit Requirement 100 EUR
Trading Platforms Proprietary, MT4, MT5
Accepts US Clients No

What We Like

  • More than 3 million clients from 120 countries
  • Award-winning forex broker
  • Trade CFD stocks, crypto, indices, and ETFs
  • 0% commission share investing account available
  • Supports MT4 and MT5 platforms

78.31% of retail investor accounts lose money when trading CFDs with this provider.

3. Pepperstone – Spread Betting Forex Broker for Multiple Platforms

The last top Western Union forex broker we’ll be giving a close review of is Pepperstone, a popular spread betting platform that has integrated many trading platforms. With a maximum leverage of 1:200 for its more than 60 forex pairs, Pepperstone is a great option for high-volume and experienced forex traders.

As one of the best spread betting platforms, Pepperstone has access to some of the largest liquidity networks that are provided by Tier 1 banks, and other financial companies. Pairs are offered in some of the most competitive spreads which can start at 0 pips for EUR/USD and average 0.17 pips for commission-based accounts.

pepperstone homepage

The two forex trading accounts that are offered on Pepperstone are the Razor account and the Standard account. The former requires a 3.5 USD commission for traders but has extremely low spreads while the latter offers 0% commission trading.

Forex Pairs Over 60 pairs
Max Leverage 1:200 for retail clients
Pricing 3.5 USD per lot for razor accounts, 0% for standard account
Spread for USD/EUR From 0 pips
Minimum Deposit Requirement 100 USD
Trading Platforms TradingView, cTrader, MT4, MT5
Accepts US Clients No

What We Like

  • Supports spread betting trading
  • Open positions for more than 1,200 instruments
  • Uses MT4, MT5, TradingView, and cTrader
  • Advanced market analysis and research provided
  • Regulated by the FCA, ASIC, SCB, and other financial commissions

74% of retail investor accounts lose money when trading CFDs with this provider.

Best Western Union Forex Brokers Compared

View the table below which showcases the key features of the best Western Union forex brokers.

Forex Brokers Forex Pairs Max Leverage Pricing Spread for EUR/USD  Minimum Deposit Requirement  Trading Platforms Accepts US Clients
XTB 48 pairs 1:30 leverage 0% commission From 0.1 pips None Proprietary platform No
Libertex 51 pairs 1:200 leverage From 0% commission From 0.3 pips 100 EUR Proprietary, MT4, MT5 No
Pepperstone Over 60 pairs 1:200 for retail clients 3.5 USD per lot for raw accounts, 0% for standard account From 0 pips 10 USD TradingView, cTrader, MT4, MT5 No
AvaTrade 55 pairs 1:400 for retail accounts 0% commission 0.9 pips 100 USD, EUR Proprietary App, MT4, MT5, WebTrader No
Forex.com Over 80 pairs 1:200 for retail clients 0% commission for Standard account, 5 USD per 100K trader for Commission account From 0.2 pips None Proprietary web platform, MT4, TradingView, Mobile App Yes
FXTM 27 pairs 1:2000 leverage 0.4 – 2 USD per lot for Advantage accounts, 0% commission for Micro and Advantage Plus accounts From 0.0 pips for ECN Prime account; From 1.5 pips for Mirco and Advantage Plus accounts None MT4, MT5, Webtrader No
Blueberry Markets 43 pairs 1:5000 leverage 0% commission for Standard account, 7 USD per trade for Direct account From 0 pips 100 USD Web Trader, MT4, MT5 No
Vantage Over 40 pairs 1:500 leverage $3 per lot per side for Raw ECN account, 0% commission for Standard STP account From 0 pips for Raw ECN account 50 USD Proprietary app, ProTrader, WebTrader, MT4, MT5 No

What is Western Union?

Western Union is an American money-transferring company that has supported wire transfers since the late 1800s. It’s the biggest name in the industry and has helped millions of users send money for work or give immigrants a means of transferring funds to their families back home.

In 2021, Western Union customers made over 250 million transfers which amounted to a total of $80 billion for the year. Clients can choose to send money online, through the mobile app, or through one of their thousands of in-person stores across the world.

For receiving money, Western Union has enabled anyone to receive funds directly to their bank accounts. Additionally, they can receive the cash from the money transfer by going to one of the Western Union agent locations. Bills can also be easily integrated with Western Union through the mobile app as sending and receiving payments can be performed regularly or scheduled.

Benefits of Using a Western Union Forex Broker

For this section of this review, we’ll be looking at the key benefits of using a Western Union forex broker as well as how Western Union gives value to its customers.

Safe Transfers with Data Encryption Security

Western Union encrypts all its transfers and keeps user data secure. To fight fraud and even money laundering schemes, the wire transferring company has a fraud resource center that helps clients be more educated and stay protected from sources of fraud.

Touch ID is used to securely verify account holders on mobile while all payments are PCI DSS compliant to make sure data and payments remain secure. All transfers from accounts can be tracked via the unique tracking number given per encrypted transfers.

Convenient All-in-one Global Money Transferring

Western Union’s mobile application is highly reputable on both app stores with all its features in one place. Users can track their money transfers, view live exchange rates, send and receive money fast and easily, and transfer money to digital wallets. 

The app is also used for availing discounts through Western Union’s loyalty program which will be touched on below.

Loyalty Program with My WU

My WU is the loyalty program of Western Union which includes shopping at more than 12,000 online stores, exclusive deals from different brands, the ability to send gifts internationally, and earning cashback. These rewards can be availed of by My WU points which can even be used to donate to scholars who need funding for their education.

Cashback of up to 30% can also be redeemed either through the Western Union Website, the My WU portal, or the Western Union mobile app. Just like any reward service, this loyalty system encourages users to keep on the Western Union platform to send, receive, and track their funds.

Use an International Prepaid Card

Lastly, the Western Union Netspend Prepaid Mastercard is a debit card that lets US clients send and receive money transfers. No credit check or minimum balance is required to avail of the prepaid card which requires activation and ID verification.

Cardholders get to perform direct deposits which can be used to get paychecks and even government benefits faster than some other methods. Just like any other debit Mastercard, this can also be used to make online purchases like funding forex and other trading accounts.

Conclusion

The best Western Union forex broker should not only have the lowest costs and spreads but also give its clients the most seamless and intuitive trading experience possible. From the research provided by this review, the most crucial aspects and features that add to the trading experience were highlighted and compared.

FAQs

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