FXTM, a Cyprus-regulated forex broker, announced it is adding a payment option via China’s social network WeChat.
WeChat is a social and messaging network popular in China, which recently launched WeChatPay, a peer-to-peer money transferring service for the hundreds of millions of WeChat users. Its electronic wallet can also be used for direct payments in some shops.
Deposits via WeChatPay is available exclusively for the FXTM clients from China, Taiwan and Hong Kong. They can fund their accounts instantly with USD via the social network’s Scan&pay option.
According to FXTM, there will be no deposit limits for those using WeChatPay. The option is also available through WeChat’s mobile application for Android, iOS and Windows Mobile.
FXTM is based in Cyprus and regulated by the local watchdog, the Cyprus Securities and Exchange Commission. The broker offers trading in more than 100 instruments, including forex, spot metals, and CFDs on stocks, commodities, and exchange traded fund (ETFs). It serves retail and institutional clients alike and supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.
The broker accepts Visa, MasterCard, Maestro, and China UnionPay credit cards and bank wire transfers toBarclays Bank, Rietumu Banka, Promsvyazbank, and PPF Bank. The broker also works with electronic payment systems Skrill, Neteller, WebMoney, Payza. In addition, withdrawals are also possible via FXTM Virtual Mastercard and broker-to-broker transfers, while deposits can be made using e-wallets Western Union Quick Pay, Dotpay, and Alipay.