Best AstroPay Brokers 2024

AstroPay is an online payment service that helps millions of users make transfers every day, including retail traders. Following recent investments in the UK and Europe, there is also a growing list of brokers that accept AstroPay deposits.

Here, we rank the best AstroPay brokers in 2024. We also provide instructions on how to make deposits and withdrawals to and from your trading account with the payment method.

About AstroPay

The company was founded in 2009 in South America to offer an alternative payment method that accepts local currencies, providing an on-ramp for Latin Americans to make transactions with global companies over the internet.

In addition to its popularity in Latin America, AstroPay’s six million users span the UK, Europe, Asia, and Africa. This is largely due to the firm partnering with more than 200 global banks and payment systems, including:

• Visa and Mastercard in the UK, USA, and European countries
• Unified Payments Interface (UPI) in India and the UAE
• M-Pesa in Nigeria, Bangladesh, Kenya, and Malaysia

How AstroPay Works

AstroPay works in the same way as many e-wallets. To access the payment method, you will need to sign up for an account via the AstroPay website or mobile app. The registration process is simple: enter your name, date of birth, email address and phone number before setting a password.

After this, you can use a credit or debit card, cryptocurrency, or bank transfer to load funds into your AstroPay virtual account in your chosen currency, such as GBP.

If you sign up with one of the brokers that accept AstroPay deposits, you can then use your account details to connect the solution to your trading profile. When you make a trading deposit, money will be extracted directly from your AstroPay account.

Transaction Times

AstroPay brokers typically offer instant deposits. This includes Vantage, FXChoice, and EasyMarkets. However, some brokers may take longer. For example, when trading with RoboForex, transactions can take up to one working day.

Withdrawals can take longer, with the average waiting times at the aforementioned AstroPay brokers being two business days. This is in line with most electronic payment methods, as trading brokers often have to perform KYC checks before they can release trading profits. Importantly, it is also quicker than other payment methods, such as wire transfer.

If your transaction is taking longer than expected, contact your broker’s customer support team via live chat, email or telephone.

Payment Fees

Signing up for an AstroPay account is free, as is maintaining the account, so any fees incurred in a transaction will be from the broker’s end. Fortunately, deposits are usually free of charge, as is the case with Vantage, FXChoice, PU Prime, and most other brokers that accept AstroPay.

However, AstroPay brokers may charge a fee for processing withdrawals. RoboForex, for example, charges a 0.5% fee for withdrawals. Still, this is lower than fees often charged for other payment methods, including e-wallets like Skrill and Neteller, which can come with a 2.5% cost.

Security

It is a safe and reliable payment solution, compliant with Payment Card Industry Data Security Standard (PCI DSS). No sensitive data on transactions is stored and the network uses end-to-end encryption for additional security.

The company is also regulated by the Financial Conduct Authority (FCA) under Larstal Limited (an alternative name for the same company). The FCA is the UK’s regulatory body and is recognised within the finance industry for its strong consumer protection rules.

To further protect your trading capital, only sign up with AstroPay brokers that are regulated by the FCA.

How To Make Trading Deposits & Withdrawals With AstroPay

Making A Deposit

• Login to your broker and go to the deposit page/cashier portal in your trading account. Select AstroPay as your payment method
• Follow the prompts to enter your AstroPay card details and the amount you wish to deposit. Note, your broker may have a minimum deposit requirement
• Enter the phone number connected to your AstroPay account for identity confirmation through a verification code
• Confirm the transaction and wait for the funds to be transferred to your trading account

Making A Withdrawal

• Go to the withdrawal page of your broker and select it as the withdrawal method
• Enter the amount you wish to withdraw and follow the prompts to confirm the transaction
• Most withdrawals will be processed and cleared within several working days

To avoid delays, make sure your trading account is verified and that you have provided any copies of the ID documents requested.

Customer Service

AstroPay customer care can be contacted via an online form on the official website. Simply enter your name, email, contact number, and your query. You will then be contacted by customer service personnel.

On the downside, there is no live chat or contact phone number, though most AstroPay brokers provide assistance with deposits and withdrawals through chatbots and telephone support.

Pros Of AstroPay For UK Traders

• Fast and convenient: It can be used to instantly fund trading accounts without the need to enter sensitive financial information
• Secure: The payment method complies with industry anti-money laundering rules, uses end-to-end encryption, and is regulated by the FCA, all ensuring your data and money are safe and secure
• Widely accepted: It is accepted by more than 1,900 global websites, including a range of AstroPay brokers in the UK, making it a versatile payment option
• Anonymous: The firm allows users to make payments anonymously.

Cons Of AstroPay For UK Traders

• Popular Alternatives: Although there are various UK brokers that accept AstroPay deposits, it is not nearly as widely used as other e-wallets or online payment methods, such as PayPal, Skrill, or Neteller
• Customer Service: There is no contact phone or live chat option if you wish to contact customer support. You can only do so via an online request form, which typically has a longer response time than phone calls or live chat

Should Traders Deposit With AstroPay?

AstroPay is a trusted and secure payment solution. It is also quick and cheap, however, there are many more common payment methods available, so it may not have the same appeal to UK-based traders.

To make a deposit and start trading using the transfer solution today, sign up with one of the top AstroPay brokers.

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