iDEAL brokers: Top forex brokers accepting iDEAL deposits

Broker Country Rating Min. Deposit Website
Cyprus, Australia4.5/5$100Read the review
Cyprus4.2/5$100Read the review
UK, Cyprus, Australia4.1/5$200Read the review
Cyprus, South Africa, Australia3.9/5$100Read the review

iDEAL is an electronic payment method that is very popular in the Netherlands. In fact the service is so used that it covers over 50% of all the payment transactions in the country. The principle of iDEAL is simple: customers can purchase services or goods online, using a direct online transfer from their bank accounts via iDEAL.

The company is operated by the Dutch firm Currence, which is supported by all major Dutch banks: ABN AMRO, ASN Bank, Friesland Bank, ING Bank, Knab, Rabobank, RegioBank, SNS Bank, Triodos Bank and Van Lanschot.

iDEAL is technically free-to-use for clients purchasing on the internet, however e-shops can impose fees for their services; it depends on the marketplace. This fee, if present, is always mentioned before the final purchase is made, in order to inform the customer about it.

There is an exception. When the payment is customer-to-customer using Ideal QR codes, there is a fixed fee of €0,30 per transaction. The charge is applied to either the sender or the buyer; they or the circumstances decide which one pays the commission.

There is one major drawback with iDEAL: users cannot request a chargeback, even tough the service utilizes a banking interface and bases its concept on online banking. So users must be careful on where and who they make their purchases from, because if the seller fails to deliver on a promise and a payment is already made, there is no way to return your money.