Sticpay

Sticpay promises to make the payment process simple and efficient. In this review, we explore how it works, from deposit and withdrawal methods to fees and security. We’ve also compiled a list of the best supporting brokers below.

The top Sticpay platforms in 2024 include XM and FBS.

How Sticpay works

Sticpay is a wallet and payment services provider that enables users to make instant transfers over the internet. You can also make deposits and withdrawals to and from online brokers. The company offers a mobile app and the Stic card, which lets you use ATMs around the globe.

Sticpay was founded in London in 2018 and has made waves since its launch with promising features and an exciting pitch to investors. Their goal is to make online payments easy, fast and secure for everyone.

The registration process is relatively simple. Fill in the form, get SMS validated and submit your documents for verification. Note, Sticpay asks for proof of identity, such as a passport and proof of address, such as a bill.

Stic Card

With the Stic card, you can access the money in your e-wallet from anywhere in the world. Users can spend up to $2,000 a day on online purchases and $5,000 on ATM withdrawals. The monthly limit for purchases and withdrawals combined is $9,500 or the equivalent in your local currency. Note, when you use the Stic card, conversion rates apply immediately.

Swing traders are always looking for new ways to streamline the user experience and investing process. Fortunately, Sticpay is available in over 190 countries with 29 national currencies supported. It also allows cross-border payments without hassle or hidden fees using Visa, MasterCard, China UnionPay, bank wire transfer, plus cryptocurrencies such as Bitcoin and Litecoin.

Transaction Times

Sticpay is a fast payment option, with almost instant deposits and withdrawals at brokers. Of course, some platform withdrawal times vary, so check terms and conditions before opening an account.

Bank wire transfers take the usual one to two business days for local banks to process, and three to five days for international accounts. However, cryptocurrencies take up to 24 hours and credit card transfers only take one hour.

The minimum deposit and withdrawal amounts are $5 for cryptocurrencies, $10 for credit cards and $100 for bank wire. Local currencies other than the dollar use the equivalent amount.

Pricing Review

Fees are competitive. Deposits cost 1-2% for wire transfers, 1% for cryptocurrency and 3.85-5% for credit cards. Withdrawals cost 1.3% to the Stic card, 5% through wire transfers (with local fees varying by country), China UnionPay at CN¥ 30.00 + 2.5%, Bitcoin at Ƀ 0.00077000 + 3%, and Litecoin at 3%.

Fortunately, deposits and withdrawals to forex and stock brokers are usually free. For international merchants and customers, fees are 2.5% + $0.3 for fiat payments and 1.8% for cryptocurrency transactions.

Unlike other e-wallets like Skrill and Neteller, conversion fees are nearly half. Withdrawals from ATMs (1%) are also less expensive than those made through Skrill (1.75%), Neteller (3.95%) and Ecopayz (2%). In addition, the firm doesn’t charge an inactivity fee.

Security

Sticpay is reputable and secure.

Firstly, the e-wallet employs extensive anti-fraud and security measures, including comprehensive KYC (Know Your Customer) and AML (Anti Money Laundering) checks on both merchants and end-users.

Secondly, the company keeps its clients’ cash in separate accounts. Users have unrestricted access and the option to withdraw funds at any time. The brand also offers 24-hour customer support.

Finally, the firm is registered and authorized by the UK Financial Conduct Authority (FCA) and the Labuan Financial Services Authority (LOFSA).

Pros of Sticpay for Traders

Reasons to start trading with Sticpay include:

• Stic card
• Mobile app
• Secure e-wallet
• Positive user reviews
• Cryptocurrencies accepted
• International money transfers
• Secure sign up and login process
• Low deposit and withdrawal fees
• Supported by multiple brokers including Axiory and LandFX
• Available in over 190 countries with 29 fiat currencies supported

Cons of Sticpay for Traders

Downsides to trading with Sticpay include:

• Not available in several countries, including the USA
• Limited liability in the company’s terms and conditions
• Slim cryptocurrency options – only Bitcoin and Litecoin accepted

How to Make Sticpay Deposits & Withdrawals

Here is a quick step by step guide to making transfers on your trading platform:

• Log in to your broker
• Go to the deposits / withdrawals category
• Select your trading account and payment method
• Enter your desired amount and confirm the transaction

Depending on your broker, this process may be slightly different. For example, some may ask for security verifications such as a password or phone number. You can check with your brokerage’s customer support team for clarity.

Verdict

Sticpay is a fast, secure and cheap option for swing traders. It also typically comes with zero fees at the deposit and withdrawal stage. Importantly, the transfer solution offers considerably lower costs than e-wallets like Skrill, Neteller, and Ecopayz. Investors can also use their payment account internationally, with the option of a prepaid card. In addition, cryptocurrencies are accepted.

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