Discover the best forex brokers that accept EcoPayz and how eWalletBooster can provide cashback on your deposits and a host of other bonuses!
October 14, 2022, London
EcoPayz is an incredibly popular e-money transfer service with a boatload of reasons for users to get into FX. If the fact that they're accepted in over 40 countries with dozens of national currencies available wasn't enough, we've got more.
Below, you'll find tips on choosing the best forex broker, a few suggestions of our own, a little FX FAQ, and some super-handy guides to the most basic EcoPayz transactions.
Table of Contents:
Up first, we're talking about how to pick a broker.
Choosing a new FX broker is always hard - especially if you've never done it before. Since we've been doing this for (seemingly) ages, it's only fair that we share our personal criteria for selecting a broker. While this is all general advice, each of the following questions is an excellent way to judge the quality of any given broker:
Ask each of these, and their answers will tell you a lot. Some, like 1, 2, and 3 are obvious (EcoPayz = good, fees = bad), but others may be a bit more cloudy. Asking who regulates the broker, which tools they use, and if they're a new business helps to feel out what each broker offers - and we want that.
With that said, take a peek at the options below for some brokers that we know are a great choice.
This next section is simple. EcoPayz is great, but the early stages (i.e., non-VIP stages) can be a hassle. Because of this, eWalletBooster offers an excellent, super simple, and (most importantly) free option - pairing your eWalletBooster and EcoPayz accounts.
Take a peek at the graph below to see the difference between a standard non-VIP account (left) and an eWalletBooster account (right).
|Without eWalletBooster||With eWalletBooster|
|Beginning VIP||Silver, extremely limited||Instant Gold VIP|
|P2P Fee||1.5%, min. €.50 transaction||Free|
|Verification Time||1-5 business days||Within 12 hours|
Luckily, that's a pretty obvious decision; signing up with eWalletBooster is free, takes less than five minutes, and requires no personal financial information - seriously, it's that simple. Claim your EcoPayz Welcome Bonus Now!
As with most services from EcoPayz, depositing with a forex broker is almost too simple. Before we get you the guide, you'll need to know a few things:
No matter which broker you choose, though, the process below will not change:
Your funds will be available within one day, though most users find that they appear within fifteen minutes or less.
Luckily, this is a nearly identical process to that of depositing. Keep in mind that, as with above, the names and locations of buttons may change. Additionally, your funds will take slightly longer to clear; 2-3 business days, to be precise.
Otherwise, refer to the instructions above. Log in, select Withdrawal, and choose EcoPayz. Once you've done that, you simply need to confirm the amount, currency, and method, log into EcoPayz, and confirm the transaction.
Is forex legal? (UK)
Forex is entirely legal in the UK, assuming that you use a properly licensed and regulated forex broker. As forex doesn't occur in-person, only online, this next step is incredibly important:
Before continuing, you need to check the Financial Conduct Authority (FCA) Financial Search Register.
Look to see what clients the broker serves (retail or professional), and see if they provide any of the following investments. If so, chances are you've found a quality broker:
Is EcoPayz a strong choice for forex? (UK)
Yes! EcoPayz prioritizes speed, security, and ease of use for all users - each of which is incredibly helpful for forex investors.
What does EcoPayz offer FX users?
EcoPayz offers FX users a few things. Beyond the obvious (near-instant, super-secure transactions in dozens of currencies), most benefits lie in their VIP programme.
This, in tandem with eWalletBooster, makes for an excellent forex experience thanks to reduced FX fees, free P2P transactions, lowered fees, and raised limits.
Why is EcoPayz popular for forex in the UK?
EcoPayz is popular with forex users in the UK because that's kinda their whole thing. When you're globally accepted in dozens of countries and take over 40 national currencies, it's hard not to be well-suited to FX.
Plus, you know, they offer state-of-the-art encryption and secondary security measures, along with near-instant transactions - which makes a big difference when seconds can mean turning a profit vs. a loss.
Age Restrictions: United Kingdom
All UK citizens must be at least eighteen (18) years old for FX, and all EcoPayz users must be at least 18 years old to use any of the platform's services (including FX).
Location Restrictions: United Kingdom
UK citizens can trade FX without any major restrictions placed upon them - just be sure to use a registered, licensed broker.
While EcoPayz won't apply any restrictions to you beyond those of your account (VIP) type, the government will. How does the saying go? "Nothing in life is certain but death and taxes," yep - that's it.
And, surprise, surprise, that old yank (Benjamin Franklin) was onto something - as the HMRC will rank you into one of three categories based on your FX profits:
|This refers to individuals that make the majority of their annual income from self-employed trading; it's treated as any other self-employed trade. You can read more here about the UK self-employment guidelines.||All profits and losses are taxed against Capital Gains by the HMRC.||This applies to any FX trader that doesn't make at least £12,300 in profits (2022/23). Speculative traders do not pay capital gains taxes on FX, spread betting, or CFDs until meeting this threshold.|
EcoPayz & Forex: History (UK)
EcoPayz was founded in 2000, making them one of the oldest e-money transfer services on the market. They specialize in P2P & merchant transactions, forex, cryptocurrency, and online gambling.
As a UK-centred company, EcoPayz is regulated by the Financial Conduct Authority (FCA), and is held to an incredibly high standard. This means that they follow the law to the letter, which is something you definitely want with the service that's handling your money. Over the years, eWalletBooster and EcoPayz have partnered to offer their users better terms, more rewards, and a generally more high-quality experience - all for free.
So if you like trading FX on your terms (i.e., incredibly low fees, lower barrier to entry, cashback on select transactions, and more), then check out our eWalletBooster's EcoPayz deal - you'll be surprised how much we can offer for so little investment on your end.
Get ecoPayz “Gold VIP” status for FREE
Earn CASHBACK on your transfers
FREE P2P transfers (usually 1.5%)
FREE Verification (no deposit required!)
Instant verification (usually 1-5 days)
Discounted 1.49% FX Fee (usually 2.99%)
REFER-A-FRIEND to earn even more
Exclusive eWalletBooster REWARDS dashboard