Brokers Accepting CashU For Payment Method
If you live in the Middle East, CashU is one of the most popular online payment services there. CashU is a digital wallet that allows clients to pay or transfer money online instantly and offer users its own pre-paid MasterCard with no absolutely additional fees attached. Introduced in July 2002, CashU has targeted the Middle East and North African markets where it serves close to 2.3 million customers. This is the reason why many of the forex brokers that are expanding in the North African and Middle East market accept CashU as one of their payment methods.
|Broker||Regulation||Max Leverage||Min Deposit||General Rating|
| FXOpen |
ASIC, 412871 |
FCA (UK) 579202
| FIBOGroup |
CySEC, 118/10 |
FSC (BVI) SIBA/L/14/1063
| XM |
| ASIC 443670 |
CNMV (Spain), 2010157773
CONSOB (Italy), 3046
FCA (UK), 538324
FSP (New Zealand), FSP235905
| Weltrade |
IFSC (Belize), IFSC/60/350/TS/15-16 ||1:500||$25||Review|
| Xtrade |
ASIC, 342628 |
IFSC (Belize), IFSC/60/383/TS/15
NAFD (Russia) A
| 24option |
| IFSC (Belize) 000319/38 ||1:400||$100||Review|
| TryMarkets |
United Arab Emirates
IFSC (Belize), FSC/60/337/TS/17 ||1:500||$500||Review|
| Abshire-Smith |
FCA (UK), 551970 ||1:200||$500||Review|
| CM Trading |
| FSA (Seychelles) SD070 |
FSCA (South Africa), 38782
| GAINSY |
Saint Vincent and the Grenadines
FSA (St. Vincent & the Grenadines), 21559 ||1:500||$10||Review|
| WSSolution |
Saint Vincent and the Grenadines
| Trade12 |
| GANNMarkets |
| The Financial Commission 21.05.2020 ||1:400||$10||Review|
| FXB Trading |
Saint Vincent and the Grenadines
FSA (St. Vincent & the Grenadines), 22500 ||1:500||$250||Review|
| AMEGA |
| Boston Merchant Financial |
ASIC, 379035 |
FCA (UK), 563348
FSC (Bulgaria), RG-03-220
FSP (New Zealand), FSP328066
| Just2Trade |
CySEC, 281/15 ||1:500||$100||Review|
| FXGate |
FSA (Labuan), MB/19/0031 ||1:100||$100||Review|
| Yadix |
FSA (Seychelles), SD021 ||1:500||$100||Review|
| UFX |
CySEC, 127/10 |
Vanuatu Financial Services Commission 14581
| ATFX |
| Banque de France 75626 |
CNMV (Spain), 4185
CNVM (Romania), 110536
FCA (UK), 760555
Finansinspektionen (Sweden), FT00096123
FSA (Sweden), NOR-149113
| BMFN |
Vanuatu Financial Services Commission, 40202 ||1:400||$50||Review|
| Trade Fintech |
| IFC Markets |
British Virgin Islands
| CySEC 147/11 |
FSA (Labuan), MB / 20/004
FSC (BVI), SIBA/L/14/1073
CASHU is one of the oldest payment solution providers out there as they have started their business in July 2002. This company is serving almost 3 million people in the Middle East and North Africa, available at 300,000 points of purchase for e-wallet funding, and accepted by more than 7,000 online stores. CASHU is popular not only among online store customers and online gamers but also among forex traders, VoIP users, IT service, and many more.
The founding company, Jabbar Internet Group (Maktoob), has its headquarters built in Dubai International Financial Center. Some of the offices are located in Amman, Jordan and Cairo, Egypt.
Everyone that engages in e-commerce wants safe and fast transactions. To that end, This company is built around the most sophisticated fraud prevention and Anti-Money Laundering system, therefore decreasing the risk that is often linked with online payment. Such features are beneficial for forex traders as well.
How to Fund a Forex Account with CASHU?
Most forex traders would want a user-friendly and undemanding payment system. With CASHU, all it takes is pay the official website a visit in order to create an account, verify it, then fund the account using a prepaid card, credit card, or any other payment methods. The website itself can help locating a store that sells prepaid cards in a number of denominations from $10 all the way to $300. Once you buy one of those cards, you will find a string of 18-digit code that you can enter to top up your CASHU account.
Now that your account already has some cash on it, you are almost ready to fund your forex trading account on your platform of choice. To do so, you will need your CASHU's wallet account number, email address, or the phone number that you have used to sign in to your CASHU account.
It is quite easy from here; just enter the amount that you wish to transfer from your CASHU account to your forex account then confirm that amount by typing in your CASHU account number and password. In a matter of hours, you will see that amount is deducted from your CASHU account and added to your forex account. Be advised that some platforms may charge some fees.
Is CASHU Beneficial for Forex Traders?
Here are some advantages of CASHU that might be useful to you:
We are all here to make some money. Therefore, we will need to remove any unnecessary expenses. This is one corner that you might want to cut in order to reduce the running cost of your trading account. So, choosing CASHU as a low-cost payment system can be the right choice.
CASHU is not only available on your desktop but also on your mobile device, a great addition to the feature if you wish to add funds at a moment's notice.
As mentioned earlier, this company is built around a secure fraud prevention. CASHU will also protect both your personal and banking details. So there is one less thing to worry about. You can pay more attention to your trading activity instead.
- Easy to access
You do not even need a bank account to create a CASHU account, this ease of access can be very useful for any forex traders.
Even new traders can easily use CASHU’s service. Just type the amount, log in to your CASHU account, verify your transaction, and you are done.
Is There Any Drawback?
Despite all the benefits, there are a few disadvantages to consider as well:
- Only available in certain regions
This company exclusively runs in the Middle East and North Africa area. So if you conduct your trading activities outside those area, you may not be able to employ their service.
- No withdrawal
This is probably quite a big deal for many traders, some people might even consider moving to other e-payment service providers just because of this inconvenience.
Careful, You May Need to Mind the Fees
Now let us take a look at this table below to see how much you need to spend in order to use their service.
In conclusion, CASHU is a reliable, cheap, and easy top-up service if you trade forex in the MENA area, especially if your access to a credit card is limited. Pay their website a visit to see if their service seems interesting to you.