Best Payoneer Brokers 2025

Understanding Payoneer

Payoneer is like a digital wallet that helps you send and receive money online. It’s used worldwide in many countries and by different businesses, including online trader services. Here’s a simplified guide to how it works, the fees involved, and more.

How We Picked Top Brokers Supporting Payoneer

To find the best brokers that work with Payoneer, we:

• Checked through 500 online brokers to make sure they accept Payoneer.
• Made sure these brokers handle Payoneer for deposits and withdrawals.
• Ranked them based on their overall service quality.

What Is Payoneer Exactly?

Payoneer is an online service that helps businesses move money around. It works in over 190 countries and uses about 70 different currencies. Unlike regular e-wallets, Payoneer is built for business use, which means it’s designed more for business transactions than everyday use.

How Payoneer Functions

Using Payoneer, clients—including traders—can move money with ease. They can use an e-wallet, a virtual bank account, or a prepaid Mastercard provided by Payoneer. You can then transfer the money to a regular bank account or use it to invest with brokers that support Payoneer’s prepaid card.

Understanding Payoneer Fees

Payoneer charges some fees, which include:

• $29.95 for inactive accounts each year.
• 0.5% of the currency exchange amount.
• Free transfers to another Payoneer account.
• Up to 3% fee for transferring to non-Payoneer accounts.
• Flat fees for withdrawing to a local currency account that start at $1.50.

Good news, though! Many brokers, like eToro, don’t charge any extra fees when you deposit with Payoneer.

How Fast Are Payoneer Transactions?

Generally, Payoneer transactions are very fast. For example, eToro allows immediate deposits for users in certain countries, including Argentina and Brazil, in US Dollars. However, transferring money from Payoneer to a regular bank account might take a few days.

Safety and Security with Payoneer

Payoneer is safe and regulated by many financial agencies around the world. Top companies like Amazon and Google use it, and well-known banks work with it to ensure the platform’s security. Your account is protected with features like two-step verification to keep your funds secure.

Setting Up an Account

When setting up a Payoneer account, you can choose between different account types based on your needs. If you’re a trader, you might need a ‘small and midsized business’ account to send payments. Similarly, if you need to receive money, you can select a ‘freelancer’ account. You’ll get a Digital Mastercard to spend your funds easily.

Loading Money to Payoneer

Payoneer doesn’t allow you to deposit cash traditionally. Instead, you can receive money through linked online platforms or other Payoneer accounts. You can connect a bank account to Payoneer and spend directly using their Mastercard.

Depositing with Payoneer

To deposit money into your broker account using Payoneer, use the prepaid Mastercard. Here’s a simple example of how you might do it:

1. Select ‘Deposit’ on the broker’s website.
2. Choose the Mastercard option.
3. Follow the steps to complete your deposit.

Pros of Using Payoneer for Trading

Some advantages of using brokers that accept Payoneer include:

• Fast deposits.
• Safe transfer and storage of funds.
• Licensed in multiple countries.
• Compatible with 70 types of currency.

Cons of Using Payoneer for Trading

Some limitations include:

• Only supports Mastercard transfers.
• Limited connections with trading brokers.
• Minimum deposit required for Mastercard access.
• No withdrawal options from brokers to Payoneer.
• Doesn’t support cryptocurrencies.
• Focused on businesses rather than individual traders.

Is Payoneer Suitable for Trading?

Payoneer is handy for certain countries and currencies, but it doesn’t directly connect with many trading brokers. You need to use their prepaid Mastercard. Other simpler methods like PayPal or Skrill might be more convenient for traders.

FAQs

Which Brokers Accept Payoneer Deposits?

Only a few brokers, like eToro, can handle deposits using Payoneer’s Mastercard.

Can I Withdraw Money From a Broker to Payoneer?

You can only receive money from specific platforms or other Payoneer accounts. For easier withdrawals, consider using PayPal, which is widely accepted by brokers.

Is Payoneer Safe for Storing Trading Funds?

Though not designed specifically for trading, Payoneer is safe for storing funds given its strong regulatory oversight and security measures.

Will Payoneer Support More Brokers in the Future?

Unlikely. Payoneer is primarily for business payments instead of general e-wallet use, so it may not expand much into trading.

How Do I Fund a Brokerage Account with Payoneer?

Set up your Payoneer account, receive at least $100, and request a Prepaid Mastercard. Use this card for deposits with brokers that support Payoneer, like eToro.