Best PayID Brokers 2025
Discover the best brokers with PayID deposits and withdrawals following our rigorous hands-on tests.
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1Kraken is a major cryptocurrency exchange that offers a unique trading terminal and over 220 cryptocurrencies for trading. It provides up to 1:5 leverage for spot crypto trading with consistent rollover fees, and up to 1:50 leverage on futures. Additionally, it offers crypto staking services and features an interactive NFT marketplace.
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2Fusion Markets, an online broker since 2017, is regulated by the ASIC, VFSC and FSA. Known for its low-cost forex and CFD trading, it offers a variety of accounts and copy trading options for all types of traders. New traders can register and begin trading in three easy steps.
Compare Brokers
| Broker |  |
USD Account |
Demo Account |
Minimum Deposit |
Minimum Trade |
Leverage |
Copy Trading |
Regulator |
Instruments |
Platforms |
Account Currencies |
Automated Trading |
AI |
Guaranteed Stop Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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✓ | ✓ | $10 | Variable | ✗ | ✗ | FCA, FinCEN, FINTRAC, AUSTRAC, FSA | Cryptos | AlgoTrader, Quantower | USD, EUR, GBP, CAD, AUD, JPY, CHF | Kraken Futures is integrated in other platforms which have bots: Bookmap, Caspian, FMZ Quant, Gunbot, HaasOnline, Hyndor, Margin | ✗ | ✗ | |
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✓ | ✓ | $0 | 0.01 Lots | 1:500 | ✓ | ASIC, VFSC, FSA | CFDs, Forex, Stocks, Indices, Commodities, Crypto | MT4, MT5, cTrader, TradingView, DupliTrade | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD | Expert Advisors (EAs) on MetaTrader, cBots on cTrader | ✗ | ✗ | |
| Broker | |
USD Account |
Demo Account |
Minimum Deposit |
Minimum Trade |
Leverage |
Copy Trading |
Regulator |
Instruments |
Platforms |
Account Currencies |
Automated Trading |
AI |
Guaranteed Stop Loss |
Safety Comparison
Compare how safe the Best PayID Brokers 2025 are.
| Broker | Trust Rating |
Guaranteed Stop Loss |
Negative Balance Protection |
Segregated Accounts |
|---|---|---|---|---|
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✗ | ✗ | ✗ | |
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✗ | ✓ | ✓ | |
| Broker | Trust Rating |
Guaranteed Stop Loss |
Negative Balance Protection |
Segregated Accounts |
Mobile Trading Comparison
Compare the mobile trading features of the Best PayID Brokers 2025.
| Broker | Mobile Apps |
iOS Rating |
Android Rating |
Smart Watch App |
|---|---|---|---|---|
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✓ | ✗ | ||
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iOS & Android | ✗ | ||
| Broker | Mobile Apps |
iOS Rating |
Android Rating |
Smart Watch App |
Comparison for Beginners
Compare how suitable the Best PayID Brokers 2025 are for beginners.
| Broker | Demo Account |
Minimum Deposit |
Minimum Trade |
Education Rating |
Support Rating |
Fractional Shares |
Demo Competitions |
|---|---|---|---|---|---|---|---|
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✓ | $10 | Variable | ✗ | ✗ | ||
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✓ | $0 | 0.01 Lots | ✗ | ✗ | ||
| Broker | Demo Account |
Minimum Deposit |
Minimum Trade |
Education Rating |
Support Rating |
Fractional Shares |
Demo Competitions |
Comparison for Advanced Traders
Compare how suitable the Best PayID Brokers 2025 are for advanced or professional traders.
| Broker | Automated Trading |
VPS |
API |
AI |
Pro Account |
Leverage |
Low Latency |
Extended Hours |
|---|---|---|---|---|---|---|---|---|
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Kraken Futures is integrated in other platforms which have bots: Bookmap, Caspian, FMZ Quant, Gunbot, HaasOnline, Hyndor, Margin | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ |
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Expert Advisors (EAs) on MetaTrader, cBots on cTrader | ✓ | ✗ | ✗ | ✗ | 1:500 | ✓ | ✗ |
| Broker | Automated Trading |
VPS |
API |
AI |
Pro Account |
Leverage |
Low Latency |
Extended Hours |
Accounts Comparison
Compare the trading accounts offered by Best PayID Brokers 2025.
| Broker | Demo Account |
Interest on Cash |
Islamic Account |
Joint Account |
Managed Account |
PAMM |
MAM |
LAMM |
Pro Account |
|---|---|---|---|---|---|---|---|---|---|
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✓ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ |
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✓ | ✗ | ✓ | ✗ | ✓ | ✓ | ✓ | ✗ | ✗ |
| Broker | Demo Account |
Interest on Cash |
Islamic Account |
Joint Account |
Managed Account |
PAMM |
MAM |
LAMM |
Pro Account |
Detailed Rating Comparison
Compare how we rated the Best PayID Brokers 2025 in key areas.
| Broker | Trust |
Platforms |
Assets |
Mobile |
Fees |
Accounts |
Research |
Education |
Support |
|---|---|---|---|---|---|---|---|---|---|
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| Broker | Trust |
Platforms |
Assets |
Mobile |
Fees |
Accounts |
Research |
Education |
Support |
Fee and Cost Comparison
Compare the cost of trading with the Best PayID Brokers 2025.
| Broker | Cost Rating |
Fixed Spreads |
Inactivity Fee |
CFD Stocks Spread |
EUR/USD Spread |
Crypto Spread |
|---|---|---|---|---|---|---|
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✗ | ✗ | ✗ | ✗ | 0-0.26% average | |
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✗ | $0 | 0.01 | 0.05 | From 0.04% | |
| Broker | Cost Rating |
Fixed Spreads |
Inactivity Fee |
CFD Stocks Spread |
EUR/USD Spread |
Crypto Spread |
Broker Popularity
See how popular the Best PayID Brokers 2025 are in terms of number of clients.
| Broker | Popularity |
|---|---|
| Kraken |
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| Fusion Markets |
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Why Trade With Kraken?
Kraken is suitable for traders seeking a variety of cryptocurrencies, including Bitcoin, and a strong history of security.
Pros
- Low minimum deposit of $10
- Enjoy low trading fees on Kraken Pro.
- A highly safe and secure service, with no recorded breaches in the ten years since it was established.
Cons
- Pro account's verification process is slow.
- Slow verification times
- Low leverage on spot trading
Why Trade With Fusion Markets?
Fusion Markets is a top choice for forex traders seeking competitive prices with near zero spreads, minimal commissions, and new TradingView integration. The company, based and regulated in Australia by the ASIC, is especially suitable for Australian traders.
Pros
- Execution speeds averaging 37 milliseconds significantly outpace many competitors, assisting traders in obtaining the best prices in quickly changing markets.
- Fusion Markets stands out for its competitive pricing, offering narrow spreads and lower-than-average commissions attractive to active traders.
- Fusion Markets offers a supported VPS solution for algorithmic traders, including a 25% discount if they choose the NYC Servers VPS for their MT4 or cTrader platforms.
Cons
- The lack of a beginner-friendly trading platform or app is a significant disadvantage compared to AvaTrade.
- Fusion Market falls short in providing educational resources compared to competitors like eToro and IG. It offers few guides and live video tutorials for inexperienced traders.
- The demo account lasts for 30 days, reducing its usefulness as a trading tool together with a real-money account.
Filters
Understanding PayID for Trading
PayID is a quick and easy online payment method in Australia, backed by more than 60 banks and financial institutions. It’s supported by a system called Osko and a handful of trading brokers, banks, and other businesses. Here’s a simple guide to how PayID works, how to make deposits into trading accounts, how fast payments are processed, and which brokers are top-rated for accepting PayID.
How We Picked the Best Brokers for PayID
To find the best brokers that use PayID, we:
– Checked our list of 500 online platforms to see which ones accept PayID
– Made sure these brokers support both PayID deposits and withdrawals for trading
– Used over 100 pieces of data and tests to give each broker a rating
What Exactly is PayID?
PayID is a system introduced in 2018 by the Australian financial services industry and the Reserve Bank of Australia. It allows people to make quick transactions without using the usual bank account and branch numbers. Instead, you can link simple details like an email address or phone number to your account. This is helpful for making payments or funding a trading account. It can also be used for buying digital currencies through recognized exchanges such as Binance, although platforms like Xero don’t currently support PayID.
What is Osko?
Osko is a payment service that’s similar to PayID and was also created under the New Payments Platform in Australia. While Osko requires a simple bank account and branch number, it can also integrate PayID. It’s supported by major banks like Westpac and ANZ, allowing you to send and receive money almost instantly, any time of day. There is a $5,000 daily limit for payments through this service.
Banks That Accept PayID
Many Australian banks support PayID, but not all have it fully integrated yet. Keep up with your bank’s announcements to see if they offer PayID. Some banks currently supporting it include Heritage Bank, Citibank, Bankwest, and more.
Fees When Using PayID
While PayID itself can be added for free to your online banking, some brokers might charge processing fees. However, there are brokers like Binance that don’t charge any fees for using PayID. Always check if there are any charges before you start trading.
How Fast is PayID?
PayID processes transactions instantly, similar to services like PayPal. For example, if you send money from a Commbank account using PayID, the transaction is confirmed immediately. But be aware, banks and brokers may have their own processing times that could delay your funds being available.
Is PayID Secure?
Yes, PayID is a secure way to transfer money with trading platforms. It works within your online banking environment, keeping your account details private. There are security checks in place to make sure you know exactly who you’re paying. There have been instances of misuse, but these were resolved quickly without any accounts being compromised.
How to Deposit Money Using PayID
To use PayID for making deposits, follow these easy steps:
1. Create a PayID and link it to your bank account.
2. Log in to your trading platform’s client area.
3. Go to the payments section and initiate a deposit.
4. Enter the recipient’s PayID through your online banking.
5. Choose an optional reference and enter the amount you wish to deposit.
6. Complete the transaction.
Note that PayID can only be used to add money to your account, not to withdraw.
Benefits of Using PayID for Traders
– Multiple Account Links: You can connect several accounts to one PayID.
– Merchant Check: Merchants need specific Australian business credentials, offering a reliable payment experience.
– Instant Transactions: Most transactions take under a minute and can be done anytime.
– Simple Setup: No app downloads, just connect it through your online banking.
– Privacy Protected: Your personal bank details aren’t shared when using PayID.
– Fast Creation: Setting up takes only a few minutes.
Limitations of Using PayID for Traders
– Limited Brokers: Not many trading brokers offer PayID yet.
– Deposit Only: You can’t withdraw funds using PayID.
– Cancellation Issues: Once a transaction is made, it’s hard to cancel it.
– Domestic Only: PayID doesn’t work for sending money internationally.
Is PayID a Good Fit for Trading?
PayID offers quick and private transactions, making it a great way to fund some trading accounts in Australia. However, its inability to facilitate international transfers or withdrawals could be limiting for some traders.
Frequently Asked Questions
Is PayID Safe to Use at My Trading Platform?
Yes, PayID is safe as it keeps your banking information private and has confirmation checks to ensure you’re paying the right person. It’s useful beyond trading too, allowing payments for things like phone bills.
Are PayID Transactions Instant for Trading Accounts?
Yes, PayID transactions are typically instant. If there’s any delay, it’s likely on the part of the broker or bank.
How Do I Use PayID for My Trading Account and How Does it Work?
Look for the PayID option on your broker’s deposit page. Enter your unique ID, then follow the instructions provided. Keep in mind, not all brokers offer PayID yet.