Top PSPs for Your Brokerage in 2021


We have focused and talked about what PSPs (Payment Service Providers) are and how the data analyzed by them is useful for a CRM system if they are integrated. You can read more here. However, in this article, we would like to discuss how PSPs work from a more macro perspective.

So, we already have basic information on what PSPs are. But let us brush up on that anyway. Payment Service Providers are financial systems that allow you, as the merchant, to accept payments from your clients in many different ways: credit card, debit card, digital wallet, etc.

PSPs are ubiquitous and popular in small businesses and among entrepreneurs. It is much easier to open an account with a payment service provider than a bank as a merchant. Therefore, a lot of newer brokerage companies are nowadays moving towards PSPs as their payment gateways. Plus, using a PSP is always safer for both the company or business owner and the client because neither of their bank account details is exposed.

If you are starting a new brokerage firm or have already established one and are thinking of expanding your business, one of the best ways of accepting payment from your clients globally is using a payment service provider. Using a PSP, your clients can easily make deposits and also withdraw money from your platform. It would be best if you kept an eye on several factors for choosing a payment service provider (PSP) for your business. You should understand your organization's needs well and choose the PSP wisely to get the best out of it. We will provide some information about some famous PSPs here, but which one to choose depends completely on you and what you want from it.


Why Consult Your Software Provider?

Some people consider forex trading as a business with high risk; that is why you might find some PSPs that refuse to work with you. Some other PSPs might also ask for your regulatory license. But, this does not mean that you will not be able to find a payment service provider for your business if you are not regulated or do not have a license. You might have to look around a bit more.

Thanks to years of experience in this field, some software providers may know which PSPs accept clients that are not regulated. So, an easy way for you to find out is to ask your CRM provider. ClickaCRM's technical team is ready to offer this service for free to its clients. Even though a trustworthy software or CRM provider will not guarantee that they will get approval from a payment service provider for you, they can still make some good recommendations that will increase your chances of getting connected to a PSP that might accept you as a client.



If you have already looked into payment service providers and have read a little about their commissions, you might have realized that some PSPs tend to charge slightly more than merchant acquirers or banks. This could have multiple reasons. One of them might be that by working with PSPs, the payment service provider agrees to the risks involved in your business and is also responsible for your bank account details. So, if, for any reason, your funds fall victim to any breach, the payment service providers will be held accountable for that.

In any case, you will be required to pay two separate kinds of fees:

1. A flat fee for each transaction, whether you are sending money or receiving it.

2. A percentage of the total amount in the transaction. The latter might be liable to some changes according to the PSP’s terms and conditions. For example, you might be charged a smaller commission for larger amounts, or some countries are required to pay a higher commission fee than others.

The percentage fee is typically around 3% for online transactions, and the flat fee per transaction often ranges between $0.10 and $0.25. You can pass the cost along to your clients by adding an appropriate additional fee to a transaction, depending on how much it will cost you to submit the transaction. Keep in mind that your clients will most of the time be looking for the best prices, and you do not want to lose clients because of your high transaction fees. The best way is to read about several PSPs and try them out if possible to see which provider offers you the best rate.

Now, as promised in the previous article, let us talk about two of the most famous PSPs: Stripe and PayPal.



Stripe charges different fees in various conditions. We will look at some of them as examples.

With Stripe, if you are using cards and wallets, integrated per-transaction pricing will be applied for you. This means that you will be charged no setup fees or monthly fees. The price is the same for all cards and digital wallets, which is 2.9% + 30¢ per successful card charge, plus 1% for international cards, plus an extra 1% if currency conversion is required.

With ACH debit, ACH credit, or wire transfers, you can accept large payments or recurring charges securely for 0.8% of the total transaction plus a $5.00 cap.

Stripe also uses 3D authentication. This authentication method is used to verify a customer's identity before an online card purchase, for which you will be charged 3¢ per 3D secure attempt for accounts with custom pricing.



It is free to open a PayPal account and buy something using PayPal unless it involves a currency conversion. There may be fees for other transactions. PayPal rates for receiving domestic transactions vary between 3.40% to 5.40%, depending on your country or territory, plus the fixed fee.

The fixed fee you pay for each PayPal transaction also depends on the currency you are using. For example, if you are using USD as your main currency, you will be charged 0.30 USD for each transaction, but if your primary currency is GBP, PayPal charges you 0.20 GBP for each transaction. For a detailed list of fees and percentages on PayPal, visit