AstroPay is one of the payment methods that holds a special place in the industry for several years now. Established in 2009 under AP Global Corporation LLP ownership, Astropay is a rapidly growing global payment solution. Since, AstroPay has dedicated most of its time, resources, and best effort to developing the secure and time-efficient service, quite a few notable Forex brokers adopted it as their payment method. The company is offering online payment solutions in regions with emerging economies.
AstroPay has more than five hundred partner merchants and millions of active users currently registered on the platform of the payment services provider. AstroPay holds authorization by the Financial Conduct Authority in the United Kingdom (FCA) under the Electronic Money Regulations. The best thing about using AstroPay for trading is that after you purchase an AstroPay card, deposits and withdrawals, as well as transactions come with little to no fees at all.
AstroPay cards come at different prices starting from 10 US dollars and reaching 1000 US dollars eventually. There are no transaction fees applicable to AstroPay card users. However, depending on the base currency of the account conversion fees will apply. The article below will be discussing one of the most talked-about online payment processing platforms – AstroPay. AstroPay review will concentrate on its strengths and weaknesses, AstroPay Forex brokers, and platform specifics for the new users.
Use AstroPay for payments with XM
As Forex trading is all about currencies, global payment options like AstroPay come especially in handy both for the traders and the brokers. The main reason for that is that AstroPay allows all of its users to make transactions, purchases, or withdrawals in their preferred and local currencies. Moreover, the service offered by the company is considered to be one of the most reliable and secure ones out there. Therefore, the number of AustroPay accepted sites is increasing day by day. We have prepared the list of some of the top Forex brokers that list Astropay as one of their payment methods for the traders:
5$
CySEC, FCA, ASIC
30$, 50%+20%
30:1
2009
MT4, MT5, WebTrader
$100
CySEC, CBI, FSA, FFAJ, BVI FSC, FSCA, FSRA
1:400
2006
MT4, MT5, WebTrader, AvaTradeGO
USD 5,000
FINMA, FCA, ASIC, FSA, MAS, AFM
N/A
1:30
1992
SaxoTraderGo, SaxoTraderPro
$5
SVGFSA, FCA, DFSA, FSCA, FSA
From 30% to 100%
1:1000
2010
MT4, MT5
15
CySEC
30%
1:500
2015
MT4, WebTrader
$250
FSCA
1:200
2012
MT4, WebTrader
100$
FCA
N/A
30:1
2008
Custom
$10
Risk Warning: YOUR CAPITAL MIGHT BE AT RISK
N/A
1:1000
2013
Proprietary
10 USD
FCA, CySEC, FSA
N/A
1:Unlimited
2008
MT4, MT5, WebTerminal
$10
N/A
N/A
1:500
2019
MT4, custom
$10
1:500
MT4
250$
FCA, NFA
N/A
200:1
1999
MT4
$25
ASIC, CySEC, FSA, BVI
50%
1:400
2001
WebTrader, MT4, TradingView
100
FCA, CySEC, DIFC, CIMA
N/A
500:1
1977
MT4, MT5
$100 AUD
ASIC
N/A
500:1
2005
WebTrader, MT4, MT5, IRESS
AUD$200
ASIC, SCB, CMA, CySEC, FCA, BaFin and DFSA
N/A
1:400
2010
MT4, MT5, cTrader, TradingView
$50
N/A
N/A
1:500
2015
MT4
1 USD
ASIC, FCA
10 USD
1:500
2005
MT4, MT5, WebTrader
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Based in the United Kingdom, Astropay is a platform that offers its customers online services for purchasing at international websites. The fundamental point of the service provider is that the clients can execute the transactions in their preferred local payment methods and currency. AstroPay initially launched in Latin America, where customers from most of the major markets of the region had no access to international payment solutions. Since then the company has broadened its scope of demographics and is now successfully operating in Asia, Africa, and some European countries alongside Latin America. People from all of the listed regions have the ability to store, deposit, purchase, and withdraw funds in their local currencies.
The company has two main products – AstroPay card and AstroPay wallet. The AstroPay Card is a prepaid voucher issued by the company under the name of the client with the credit limit set in advance. The card can be used while purchasing or transferring funds from the AstroPay account to one of the merchants listed with the company. At the moment, the number of AstroPay supported sites or merchants is over 500. Furthermore, the payment solution offers more than 200 payment methods, including Visa, Mastercard, Google Pay, and many more popular options that can be found locally in your country of residence.
AstroPay has many competitors on the market and it is not easy to distinguish oneself from the major players that have already settled down with leading countries, such as the US, Canada, and Australia. However, the company explored the existing problems in the developing regions and put their best effort into solving them. Here are some of the benefits of using AstroPay:
One of the biggest advantages of using AstroPay is the fact that there are no payment rejections. The payment service provider tries to keep its service as simple as possible. Furthermore, the local taxes are not applicable to transactions, payment receipts, or withdrawals. The security measures of AstroPay guarantee that there are no fraudulent behaviors on the platform.
AstroPay operates in a way that even if you are shopping on an international website you can purchase items in your local currency. There will be no fees other than the ones for conversion. This way you save a lot of money and time to avoid exchanges in your bank account and instead let AstroPay solve for it.
AstroPay supports more than 200 popular payment methods, which users can utilize to deposit and withdraw their funds. It includes top-tier bank wire transfers, credit and debit cards with Visa, Mastercard, American Express and etc. as well as the most common online payment solution and e-wallet platforms.
Setting up an AstroPay account takes a minute or two with only a few registration steps. It has one of the most user-friendly platforms with a simplistic interface and easy navigation system. Even buying an AstroPay card will take up to 5 minutes maximum including the time to choose your card and customize it.
Trade with AstroPay account securely at XM
One of the major limitations of the AstroPay payment solution is its lack of worldwide coverage. Even though, the company is currently entering the market of Europe, from most of the European countries the platform is still not fully accessible. Furthermore, Australian, US, or Canadian users cannot use AstroPay and there is no indication that the company is planning to enter those markets any time in the future. We also encountered several reviews that concerned mediocre customer support of AstroPay. The users complained that whenever they encountered some issues and approached Help Center, it took ages to get a response back from them. However, whenever we requested information from the Support, we received an answer in just a few hours. Let’s look at the main points that we don’t like about AstroPay:
AstroPay operates in developing countries at the moment. Therefore, the service is not available in most of the countries from the European Union region, the United States, Canada, Australia and etc. Despite the fact that AstroPay is regulated in the United Kingdom by the Financial Conduct Authority (FCA), due to extremely high competition it cannot operate in Europe.
There are not many channels through which customers can contact the customer support team of the AstroPay platform. AstroPay has an email address where users can approach the support team and a mobile phone number. However, there are no toll-free numbers available, call-back features, or live chat available.
Compared to its competitors, AstroPay has a relatively small customer base of around 2 million active users. It becomes an issue for finding new merchants since the companies will prefer to use services that operate with larger customer bases and cover more share of the worldwide population.
Depositing using an AstroPay card is the same as depositing from a regular debit or credit card. However, you have to first make sure that the website you are using is on the list of AstroPay accepted sites. To check it, find the payment options on the website and see if AstroPay is listed within the methods. After you confirm that it is allowed to use the virtual card, you can go through three simple steps to deposit funds with an AstroPay card.
The information regarding your AstroPay Card can be accessed on the official website of AstroPay. After you log in to your account, you have to find a wallet, where your purchased cards will be displayed.
When it comes to AstroPay withdrawal options, the payment processing platform gives two choices to its clients. You can withdraw your funds either in your cryptocurrency wallet or in your bank account. Most of the popular options for cryptocurrency wallets are already merchants of AstroPay, meaning that it is highly unlikely that you will encounter no issues while withdrawing your funds in Bitcoin to your wallet. To withdraw the remaining balance on one of your purchased AstroPay cards, you have to follow these steps below:
AstroPay also allows its users to ask for a refund for the purchased card, in case the client decided to close the account. However, a refund should be requested within several days of purchasing the card. Send your card return request to [email protected] and state the reasons for your decision.
Registering with AstroPay is as easy as it gets. Beforehand, make sure that the access to the products that AstroPay offers is not prohibited by Applicable Laws in the jurisdiction of your residence country. Furthermore, it is a strict requirement of the platform that you are considered to be of the legal age at the time of registering with AstroPay in your country of residence. None of the products offered by the company are eligible for minors. If you comply with all the above-mentioned requirements you can proceed with creating your free account at AstroPay global payment solutions platform. Follow the steps explained below:
At this point your account is complete and you can access your full profile at AstroPay. You can purchase the card according to your preferences or requirements and/or deposit the funds in your wallet. In case of questions, you can always approach [email protected]. Congratulations on your first steps towards becoming an Astro Forex trader! Once again, you can also use the AstroPay card promo code after registering your account, which encourages users to start using this payment method and get all the advantages that come with using it.
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