Forex and trading platform merchant category code 6211
Stockbrokers, forex brokers and trading platforms use merchant category code 6211 for securities brokers and dealers. Card deposits into a trading account are authorised in real time so the client can trade straight away, and the platform is settled the next working day.
Merchant category codes for forex and trading
The codes businesses in this sector come across most. Your provider sets the code when your account is opened, based on what you tell them about how you trade.
| Code | Industry | More |
|---|---|---|
| 6211 | Stockbrokers, forex and trading platforms | Industry guide |
| 6051 | Quasi cash, including cryptocurrency purchases | Industry guide |
Instant account funding
Traders expect their deposit to land in their account the moment they pay. Card deposits authorised in real time make that possible, and the platform itself is settled the next working day.
Deposits and withdrawals
Sending withdrawals back to the card that funded the account is good practice and one of the strongest protections against fraud and disputes. Clients see their money return the way it came in.
Licensing and trading platform payments
Trading platforms work under the permissions of a financial regulator. eCom Pay works with licensed brokers and trading platforms, and arranges the payment processing while regulatory obligations stay with the regulator.
Card payments for forex and trading, opinions from our specialists
Short views from our specialists, published to start a conversation. Agree or disagree, tell them on LinkedIn.
Most disputes on trading platforms are not fraud, they are regret. A client who lost money on a trade and can see a clean record of every deposit, every trade and every withdrawal rarely gets far with a chargeback.
Records help, but so does tone. A platform that answers a losing client quickly and politely often avoids the dispute entirely.
What to check in a card payments setup for forex and trading
Three questions worth asking any provider, and the eCom Pay answer.
Real time card deposits
Clients fund their account instantly.
Clear records of every movement
Deposits, trades and withdrawals that stand up if questioned.
Next working day settlement
No rolling reserve on the platform account.
Questions about merchant category codes for forex and trading
What is the MCC for a forex broker?
Forex brokers, stockbrokers and trading platforms use 6211, securities brokers and dealers.
Can trading platforms accept card deposits?
Yes, licensed brokers and platforms can take card deposits authorised in real time, with the platform settled the next working day.
Does eCom Pay work with unlicensed brokers?
No. eCom Pay works with licensed brokers and trading platforms only.
More industry guides
Card payments for forex and trading, set up properly
Approved in 24 hours once your documents are in, settled the next working day with no rolling reserve, and a UK team on the phone 24/7.