Best Dragonpay Brokers 2026

Understanding Dragonpay for Trading

Dragonpay is a digital payment service from the Philippines that helps traders who don’t have bank accounts to make online purchases through a digital account or mobile app. This guide will break down what you need to know about using Dragonpay for trading, including fees, speed, and security. We’ll also point you to the best brokers that accept Dragonpay.

How We Picked the Best Brokers for Dragonpay

To select the top brokers that accept Dragonpay, we:

• Reviewed 500 online brokers and platforms, weeding out those that don’t accept Dragonpay
• Confirmed that the remaining brokers support deposits and withdrawals via Dragonpay
• Ranked them based on over 100 data points and our own assessments

What is Dragonpay?

Dragonpay is a payment service established in 2010 to offer an alternative for people and businesses without access to traditional banks or online payment systems like PayPal. The goal is to make payments convenient and accessible for Filipinos worldwide, especially in e-commerce and e-banking.

Since its inception, Dragonpay has become a widely accepted payment method at numerous companies and merchants like 7-Eleven, Shopee, and Netflix. Traders have also adopted it, with brokers like FP Markets and NordFX accepting it for trading account deposits and withdrawals.

How Dragonpay Works

Here’s how to use Dragonpay:

• Top up your Dragonpay account using various methods, such as GCash or major banks like Metrobank and BDO.
• Use the funds to complete your purchases or deposit into your trading account.
• You can also buy prepaid credits via the Dragonpay app and use these for payments.
• The service can be accessed through their website or Android app.

Fees

Dragonpay offers two service options:

• Dragonpay Lite: Free setup but has a 20 Php transaction fee, except with some e-wallets.
• Full Dragonpay: A one-time setup fee of 36,000 Php, gaining access to all channels like GCash, with transaction fees ranging between 10-20 Php.

Speed

Dragonpay is known for its fast processing:

• Deposits usually reflect instantly with brokers, allowing for quick trading of assets like stocks and cryptocurrencies.
• Withdrawals are processed quickly, but brokers might have their own delays, typically taking 24 hours to two days.
• Refunds can take up to two weeks, requiring proper documentation.

Security

Dragonpay utilizes SSL technology for data protection, similar to most banks, ensuring secure transactions. It verifies transactions thoroughly, maintaining a trustworthy reputation for money transfers.

How to Deposit Using Dragonpay

Depositing with Dragonpay might vary slightly, but here’s a general process using Eightcap as an example:

1. Go to the payments area in your broker’s client section.
2. Select Dragonpay from the payment options.
3. Log in through the Dragonpay website or app, specifying the amount to deposit.
4. Confirm the payment details.
5. Receive a notification when the transfer is complete.

Benefits

Using Dragonpay for trading offers several advantages:

• Reliability: Instant transactions and minimal issues.
• Transfer Limits: No daily or per-transaction limits with a full account.
• Cost: Low fees, around 20 Php per transaction.
• Customer Service: Accessible support every day, including weekends.

Drawbacks

Some potential downsides include:

• Limited Brokers: Not all platforms accept Dragonpay deposits, limiting broker selection.
• Setup Fees: High initial cost for a full account setup, around 36,000 Php.

Is Dragonpay Suitable for Trading?

Yes, Dragonpay is highly rated in the Philippines due to its low fees and quick transactions, making it ideal for traders eager to start investing. Check our list of brokers that accept Dragonpay to begin trading.

FAQ

Do All Brokers Accept Dragonpay?

No, not all brokers support Dragonpay. You can check in the broker’s payment section or use our list of brokers accepting Dragonpay.

How Do I Use Dragonpay to Deposit into My Trading Account?

Navigate to your broker’s payments section, select Dragonpay, log in to the portal, enter the deposit amount, and confirm your payment.

Is Dragonpay Available 24/7 for Depositing?

Yes, Dragonpay can be used anytime for deposits and withdrawals. Most brokers allow constant deposits, though processing times may differ. Dragonpay support is available during specific hours throughout the week and weekends.