Forex / OB industry and credit card processor for Visa & Mastercard in Europe

Z

zarzar

New Member
Mar 21, 2017
9
0
161
Hello guys,

I would like to know if you know a reliable credit card processor who would accept to work with a start-up specialised in Forex / BO without a licence. This company would target European customers with Visa and Mastercard payments.

I had several rejections for those reasons :

- You are a start-up you do not have record, we do not know you or come back when you make strong figures,
- You do not have licence to operate in Europe we cannot accept you

To finish, I would like to know if there is a way to passby the checking process or to redefine your business in order to not be flagged as Forex / BO operator for the processor or even for the acquiring bank (this is the acquiring bank who do not like Forex / BO industry due to no licence, high risks of fraud, ML, chargebacks and stuff like that).

I saw a lot of companies in Forex and BO without licence who are registered in Eastern Europe and who are processing Visa and Mastercard credit cards, it is probably due to very comprehensive banks... I do not know yet.

Fellas if you have some experience with this please tell me It would help me 🙂

Thanks have a great day
 
Welcome aboard 🙂

What you are looking for is not easy to accomplish. It takes some people years to find the right acquiring bank and payment gateway to accept the business.

The biggest problem is that you are not licensed, which means there are huge fines to any of the banks that will process payments for your business if Visa or MC find out about it. The next problem is that I read it as you don't have been processing credit cards before for your business. Correct me if I'm wrong. That mean there is a huge risk of ultra high charge backs because you have no experience with this part of your business.

There are payment processors around that may take your business for sure, but can you afford a processing rate of 10 or even 15% ? + a transaction fee of say 1 euro ?
How much volume do you expect to go through the account?
What is the exact service you are going to offer and do you have a website already?
What measures have you taken to prevent credit card fraud?

Sorry to sound like a dump a*s, but that's something you need to consider!
 
Hello Auric, Thanks for welcome.

I perfectly got all what you say and it is understandable.

Europe Cysec licence requires minimum 500 K€ cash and maybe the next european directive in 2018 - 2020 about financial products MiFiD 2 will ban Forex / binary options casino for retail traders so it would be crazy to burn 500 K€ right now. Better wait MiFiD2 before getting licensed in Cysec. Moreover, Europe is banning or slowing the industry like in Belgium or France, maybe Irland maybe Netherlands soon.

I understand the risks for the acquiring bank but some operators have the solution. I know it.

About experience, that is not a big deal. there is process, measures and control to avoid that chargebacks. I do not have a big experience but I know the standards and how it has to be done. I also know pretty good my field and it is safe about it.

Of course I'am ready to pay high commissions due to the risks my partners support. I just want reliable and serious pay outs. I will clean the balance everyday. I do not trust processor who can take me.
I expect minimum 100K€ a month.

This is binary platform where you can trade. nothing special. website is ready to live but i want the credit card first.

Auric, if you got idea feel free 🙂 I am pretty sure I will find even if it is costly but if I can avoid pain. better sleep.

Thanks fella
 
Welcome @zarzar 🙂

Have you already been in touch with any payment processor that is able to help you or did all decline your business?

Have you tried processors like Instabill? they are known to take risky business. There is also Durango, https://www.durangomerchantservices.com/ they are actually very trustworthy and during the last 12 years I have been working with them from time to time.

Hope it can help you a little.

For fraud protection you need to use services like MaxMind for your business, you may look for similar services to compare each other.

Toggle signature

Latest Video Interviews, Offshore Company Resources, Payment Processing Tips & Tricks, Articles and Anonymity Hints only a click away!
Support the Freedom of Speech of our Community

Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​
 
@Admin what about Walid do you think he can take it? just wondering why you not suggested it?!
 
auric said:
auric said:
@Admin what about Walid do you think he can take it? just wondering why you not suggested it?!
Click to expand...
Click to expand...
Maybe, but I will need more info.. won't post it here will contact OP if it is an option..

Toggle signature

Latest Video Interviews, Offshore Company Resources, Payment Processing Tips & Tricks, Articles and Anonymity Hints only a click away!
Support the Freedom of Speech of our Community

Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​
 
Instabill and Durango asks a licence.

US processors are not the easiest one. I have tried them.

When they hear the Word Forex or Binary immediatly they ask the licence like a vampire asks for bloods.

I would like to be considered as a casino not like a bank but unfortunatly i am the one who think like that 🙂

Yes please Admin everything is an option for me.
 
Do you asked Durango if they know other processors? Can you remember, did you just speak with an employee there or some of the guys in a higher position?

Toggle signature

Latest Video Interviews, Offshore Company Resources, Payment Processing Tips & Tricks, Articles and Anonymity Hints only a click away!
Support the Freedom of Speech of our Community

Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​
 
Yep he sent me to Epoch but it was a wrong direction because Epoch do only p***O.

I spoke to a random sales man.
 
ahh that may be the problem!

Well, you have the website ready right? this is new business correct?

I need some more concrete info in order to get in touch with a few guys 🙂

Toggle signature

Latest Video Interviews, Offshore Company Resources, Payment Processing Tips & Tricks, Articles and Anonymity Hints only a click away!
Support the Freedom of Speech of our Community

Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​
 
yes start up no processing record. website ready but not live yet. i will make it live only for a serious application.

Thanks Admin that's cool !
 
can you put the website on a demo url or domain? without to show the processors in question the URL it's complicated.

You can PM me the URL if don't want to post it here..

Toggle signature

Latest Video Interviews, Offshore Company Resources, Payment Processing Tips & Tricks, Articles and Anonymity Hints only a click away!
Support the Freedom of Speech of our Community

Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​
 
You must log in or register to reply here.

JohnnyDoe.is is an uncensored discussion forum
focused on free speech,
independent thinking, and controversial ideas.
Everyone is responsible for their own words.

Quick Navigation

Forums

User Menu

Login
Community platform by JohnnyDoe © 2025 JohnnyDoe
  • Width
  • Queries
    12
  • Time
    0.6162s
  • Memory
    14.08MB
Top Bottom