ChinaUnionPay brokers: Top forex brokers accepting ChinaUnionPay deposits

Broker Country Rating Min. Deposit Website
UK, Cyprus, South Africa, UAE4.7/5$1Read the review
Malta, Mauritius4.2/5$1Read the review
Australia4/5$100Read the review
New Zealand 3.9/5$1Read the review
Australia3.8/5$100Read the review
Cyprus, Australia3/5$100Read the review

ChinaUnionPay is not only one of the most popular payment methods around, it is in fact the biggest payment card issuer in existence with over 6 billion issued cards only in China. The numbers expand substantially when one adds the rest of the world.

ChinaUnionPay is considered the gateway to the Chinese forex market. It is the only network on mainland China that links all the ATM and banks in an intricate system that eases the transaction of money. What’s more is that most global brokers accept ChinaUnionPay cards.

ChinaUnionPay is a state sponsored and People’s Bank of China approved credit and debit card issuer which has completely monopolized the Chinese market. It is always linked to a client’s bank account and each transaction requires a physical card in order to proceed.

Furthermore, many Asian (non-Chinese) European and North American ATMs and businesses accept UnionPay withdrawals and payments.

The payment system has processing fees attached to it, which should not be a surprise. The fee is charged exclusively to sellers, it being a 0.7% kept by the bank(s) involved, plus a small 0.1% commission by UnionPay. Buyers are not affected by fees. Furthermore, ChinaUnionPay supports a huge array of base currencies, eliminating the nuisances caused by conversion fees.