If you’re a Forex trader, you’ll also have the ability to make purchases using Western Union. In case of Forex, it can be alternatives payments. For instance, money orders, money transfer person to person, financial services, and business payments. Users can receive and send money to others via their official website, purchase gift cards or even pay bills.
It is a well-known financial sector company in the world. The office is in United States. Western Union is also being nominated as America’s best money exchange company. It has been one of the leading payment systems for years. It is used in over 200 countries around the world.
How to Fund a Forex Account with Western Union
In the case of a Forex broker, you can transfer your money directly to the individual broker’s bank account. There’s also the opportunity to use Western Union’s online service to move money without having to visit the company’s physical agent site.
Before you can link your Forex account you will need to get the broker’s banking details first so you can transfer your money via Western Union. This can be accomplished by contacting online broker support team.
The next move is to visit the Western Union agent that is nearest to you and fill out the receiver’s information in a form. Depending on your country of origin and the Forex broker, your money can be transferred either within a couple of minutes or 2 to 3 working days.
You will receive a tracking number (MTCN) after you have sent out your money. You will need to contact the online broker’s support agents and provide the MTCN so they can get your money. Additionally, this number will allow you to verify when your money will be transferred to the broker account.
How to Withdraw from a Forex Account to Western Union
Some Forex brokers may even let you cash out your money through Western Union. However, the procedure would be a tad different compared with the deposits you make through this payment service.
You can simply go to your Forex account’s payments section. And also, pick the option to withdraw. Type the amount you want to cash out, and pick it from the payment options available.
You will receive an MTCN once you have requested the withdrawal through Western Union, which you will need to obtain your money. Go to a local agent and have your tracking code. Keep in mind that receiving your money via Western Union could take 2 or even more business days.