Forex Merchant Account

A forex merchant account is an exclusive bank account that allows you to accept credit cards (and other types of payments) on your website. 

How to connect a forex merchant account to your website?

Connecting a merchant account to the site may be not as simple as it seems. Banks provide many different verification steps not only to a company itself but also to the top management.

Let’s consider the basic requirements that a website must meet to connect a merchant account. Keep in mind that the list of criteria from bank to a bank may vary. However, general conditions remain the same.

• Firstly, the company’s website should be operational and standby.

Banks do not even take under consideration applications from companies whose sites are still under development. Unfinished sites are almost impossible to connect.

• An SSL certificate is also a must, which will ensure the security of communication.
• The site must necessarily contain the name, address, and contact information of the company.

In addition to this information, contact information for customer support, including e-mail or phone, are also required.

• A full description of the goods and services that are provided should also be displayed on the website.

In the case of forex brokers, the site must specify a detailed list of services provided by the forex broker (for example, trading, analytics, consulting services), and also, preferably, place a short but meaningful description of such services. At the same time, prices for services (or goods) should be indicated in the currency provided for payment.

One of the requirements of banks to open a merchant account is also the presence on the main page of the website of the logo of payment systems that the company will work with.

For companies providing consumers with physical goods, an imperative is the presence of a return policy and a delivery policy on the site.

Besides, for all companies, including forex brokers, the following data is required:

• Information about the protection of the personal data of the customer.
• Information on the website about the security of transactions.
• Terms and conditions of the transaction during the entire order process.
• The presence of the “Click to accept” button to confirm acceptance of the product or money return policy.