The UK forex broker FXOpen launched a promotional offer on the money deposits done via China’s domestic bank card system UnionPay. According to the announcement, the broker will reimburse the transaction fees charged by the card system, no matter what is the size of the transfer. The promotional offer is valid from March 1 till March 31.
The standard China UnionPay fees for clients of FXOpen are 3% of the sum + 2 CNY (can be increased up to 3% + 3.25 CNY depending on amount of payment) for deposits and 0.5% (or a minimum of CNY 20) for withdrawals.
Other means of money transfers to and from FXOpen include bank wire transfers (both international and local), Visa and MasterCard credit and debit cards, the electronic payment systems WebMoney, Skrill, RBK Money, QIWI Wallet, DixiPay, FasaPay, Payza, Yandex Money, Neteller, etc., cryptocurrencies such as Bitcoin and Litecoin and FXOpen prepaid cards.
FXOpen is regulated by UK’s FCA. It offers forex and CFD trade, via ECN and STP accounts with different level of experience and investment. The minimum deposit for a live account is $300 and the leverage is up to 1:500.
China UnionPay (CUP) is the only domestic bank card system in China. It works under the approval of the Chinese central bank and has 296 members, 232 of which are in China. CUP cards can be used in 141 countries across the world. It is is the second-largest payment network in value of processed transactions, behind the global leader Visa.