UNIONPAY BROKERS

Replenishing your trading account using China UnionPay bears some nuances. Keep in mind that the majority of the Forex brokers usually set a limit for a maximum amount of money that you can transfer via this online payment system. Besides, the set up caps are specific from the transaction point of view since your own bank may also impose stricter limits to the transferred amount. In case you are in doubt about the maximum amount, consult your bank manager. 

Usually, the majority of brokers express the maximum deposit amount accepted from UnionPay in the national Chinese currency. We recommend you visiting your chosen bank’s web portal before depositing money means through China Union Pay. This will keep you away from using an ineligible web browser since many Chinese banks support the restricted number of browsers only. Otherwise, place your bet on Internet Explorer 8 or latest versions, QQ or Liebao to make a deposit. In case you will choose an inappropriate browser, you will fail to finish the operation.

Typically, FX brokers do not charge deposits through Union Pay. However, there may be some deviations from the rules. So, visit the chosen broker’s website to make sure that you replenishing operation will not be charged extra fees. Sometimes, brokerage houses offer commission-free transactions in case you deposit more than $30 using a China UnionPay system, for example. As for withdrawals, the brokers may set the minimum and maximum limits for a single transaction there too. In most cases, it varies from 50 up to 50,000 CNY.

The China residents get an incontestable benefit in collaborating with China UnionPay Forex Brokers since they may withdraw and deposit money without paying conversion fees. These sums could reach impressive marks sometimes. Instead, they are offered to pay a fixed commission, which is set by the selected FX brokerage house – 5 CNY, for instance.