Best American Express Brokers 2025

Understanding American Express for Trading

American Express (Amex) is a popular credit card that lets millions of people make fast, easy, and safe payments to different businesses. This guide will help you understand how to use American Express to fund trading accounts, covering important points like fees, interest rates, credit card types, and transfer limits.

We also review and rank the top brokers that accept American Express deposits.

How We Selected the Best Brokers for American Express

To find the best brokers that accept American Express, we:

– Looked through 500 online brokers and platforms that accept Amex payments.
– Checked if they support Amex deposits and withdrawals for trading.
– Ranked them using over 100 data points and personal observations.

How American Express Operates

American Express started in 1850 and originally offered a charge card for travelers, which allowed them to use credit. With the internet’s help, the company expanded to online payment services for customers.

Now, American Express is also part of financial markets, supporting brokers for trading. However, fewer brokers accept American Express compared to more common credit cards like Visa and Mastercard.

American Express works like any other credit card. You must regularly pay off any expenses, including what you spend with trading brokers or other merchants.

The main office is in New York, with other regional offices around the world, such as in Brighton, UK.

How Fast Are Transactions?

When using American Express with brokers, your deposits usually go through immediately. You’ll need a 6-digit code sent to your email or phone to verify it.

You can hasten this process by adding the broker to your favorite merchants list in your Amex app, but even without this, deposits should only take a few minutes.

Withdrawals must be approved by the broker first, and it can take up to 10 working days for the funds to appear on your card. If you want to transfer this balance to a linked Amex debit account, it requires a request to customer service, which typically takes up to 10 days but can be quicker.

Understanding Costs

Some brokers might charge fees for using American Express. This is because American Express charges merchants high fees for processing payments, both online and in stores.

Before opening a trading account, brokers that accept American Express should list any fees, which might be a flat fee below a certain balance or a percentage of the transaction.

Other potential charges include:

– FX Fees: If your payment is in a different currency than your Amex account, a foreign transaction fee up to 3% might apply.
– Annual Fees: Most Amex cards have a yearly fee ranging from no fee to thousands of dollars. The more expensive cards offer benefits like cashback or points.

Some Amex cards offer zero interest, so you aren’t required to pay off deposits and purchases immediately. However, paying off your balance regularly is a good practice.

Security Features

American Express is secure, making it a good option for payments with trading brokers and other merchants. Key security measures include:

– KYC (Know Your Customer): Before opening an account, provide a copy of your passport or driver’s license.
– Transaction Safe Key: You’ll receive a key via email or phone to approve deposits.
– Account Login: A user ID and password are required each time you log in.
– Customer Service Verification: You must pass a security check to get help from customer service.

Customer Support

American Express’s customer service is highly rated. You can reach them via chat anytime or through an international phone number. Real human agents, not bots, will assist you after a two-step security check.

To move a credit balance to a debit account, contact customer service and provide a bank statement for verification. Future transfers can be requested directly.

Pros of Using American Express for Trading

Using American Express for trading has several benefits:

– Easy to Use: Payments through the Amex app or website are simple.
– Rewards: Many Amex cards offer rewards like cashback or air miles.
– Convenient: If you already have an Amex card, you can easily deposit to brokers.
– Secure: Amex offers robust security measures.
– Excellent Support: You can rely on 24/7 customer service.

Cons of Using American Express for Trading

However, there are some downsides:

– Limited Acceptance: Not as many brokers accept Amex compared to Visa or Mastercard.
– High Spending Encouraged: The high credit limits can lead to spending more than you have.
– Slow Withdrawals: Withdrawal times can be much longer compared to other methods.

How to Use American Express to Fund Your Trading Account

Here are the steps to deposit with American Express:

1. Check Acceptance: Ensure your broker accepts Amex deposits and withdrawals. Details are usually on their website.
2. Confirm Fees: Look for any fees in the broker’s ‘cashier’ or similar section.
3. Check Transaction Times: Understand the deposit and withdrawal processing times to manage trading timelines.
4. Deposit/Withdraw: Proceed with transactions up to your credit limit or the broker’s transfer threshold, using your card details and SafeKey.

Accepted Countries

American Express is accepted in many countries, including:

– Australia, Canada, Dubai, Hong Kong, and several others.

Note that each broker may have its own country restrictions.

Is American Express a Good Option for Trading?

American Express is a widely used payment method, including with some trading brokers like FxPro and FXPrimus. However, fewer brokers accept it compared to other cards. Check our full broker list for trading.

FAQ

Do American Express Brokers Offer Instant Deposits?

Typically, deposits are near-instant with Amex, but withdrawals might take a few days. You’ll need a SafeKey for payments, which could slow the process.

Are American Express Trading Deposits Accepted Everywhere?

While Amex covers many countries, some brokers may limit where they accept traders. Check the broker’s website for specifics.

Is There an American Express Brokerage Account?

Yes, American Express offers brokerage accounts with various packages based on your balance. Check availability in your area on their site.

Which Forex Brokers Use American Express?

Top forex brokers using American Express include FxPro and FXPrimus. Visit our list to find suitable platforms for you.

Can I Use American Express with Zelle for Trading?

No, American Express does not support Zelle, but you can use Apple Pay or Google Pay.