How to deposit money in forex

If the funds are deposited through the shareholder’s personal bank account then: all deposits made during the weekend/bank holidays will be processed according to the standard processing times for each payment method.

Free forex bonuses

How to deposit money in forex, how to deposit money in forex.

How to deposit money in forex

In order to deposit funds you need to verify your profile first.

Open the deposits page within the my money section in myfxtm.

Choose your preferred deposit method and click ‘deposit’.

Select the myfxtm account or wallet you wish to deposit funds into and complete the necessary fields.

Confirm your deposit details in the next page.

Some additional steps may be asked from your payment provider.

Watch our step-by-step guides on how to deposit in our how to videos.

How long does it take to process my deposit?

Details on the processing time for each payment method can be found on our deposits and withdrawals page.

If we need to request and verify additional information then the processing time might be longer.

Please note that FXTM is not liable for any delays caused by a 3 rd party payment processor.

I made a deposit during the weekend/bank holiday, when will it be processed?

All deposits made during the weekend/bank holidays will be processed according to the standard processing times for each payment method.

Can I deposit from a country other than my country of residence?

Yes, however you will need to send us an to email explaining the reason for this.

Can I deposit using a joint account?

Yes, you will need to firstly upload or email us the following:

Joint account form

Account holders’ identification (ID) documents

A recent copy of a bank statement clearly stating the account holders’ names and account number.

Payment confirmation from the specified account.

Can I deposit to my personal trading account using a corporate account?

If the funds are deposited through the shareholder’s personal bank account then:

If you are the sole shareholder: the deposit can be processed, but the withdrawal must be sent back to the same bank account as that which made the initial deposit.

If there are several shareholders: we need written consent from all shareholders. Once written consent is received then the funds will be processed. If a withdrawal is requested, the funds must be sent back to the same bank account as that which made the initial deposit.

Can I deposit using a method that is not in my name?

No, we do not accept third-party transfers. The name of the sender must match the name used when registering with FXTM.

Can I deposit if my current balance is negative?

Yes you can. If you make a deposit while your balance is negative you will see that your current balance is no less than the amount you deposited. The company ensures that losses will never exceed the total available funds across the clients’ FXTM trading portfolio (negative balance protection).

I’m depositing via credit/debit card, are there any more steps I should follow?

After completing the steps outlined in ‘how to deposit funds into my account?’ you will be redirected to your bank’s page where you will be asked to provide some additional information.

If this is your first deposit via credit/debit card you will need to upload or email a clear colour copy of the front and back of your credit card in order for us to process your request.

The following information should be visible:

The card-holders name (this must match the name used during registration).

Name of issuing bank

The last 4 digits of the card number (all others must be covered).

Credit/debit card expiry date.

Cardholder’s signature.

The CVC2/CVV2 (last 3 digits on the back of your card) must also be covered.

An example can be found below:

If the card is linked to a joint account, please refer to our joint accounts section.

I’m depositing via E-wallet, are there any more steps I should follow?

After completing the steps outlined in ‘how to deposit funds into my account?’ you will be re-directed to your selected E-wallet’s website in order to approve your transaction.

Please note that some e-wallets may require additional details.

I’m depositing via bank-wire, are there any more steps I should follow?

After completing the steps outlined in ‘how to deposit funds into my account?’ you will be given details on how to proceed with an online payment or transfer from your bank account to FXTM’s bank account.

Once the transaction is complete, you will have to upload or email the payment confirmation showing the following:

The bank account number.

Bank account holder’s name (this should match the name used during registration).

Payment details.

Your transfer should be processed within 3-5 business days from the date the funds were sent from your account. If your deposit takes longer than 5 business days please contact our back office department .

Please note that FXTM is not responsible for any additional bank charges.

I’m depositing via online banking china, are there any more steps I should follow?

After completing the steps outlined in ‘how to deposit funds into my account?’ you will be asked to select the bank you wish to use and complete the necessary fields.

If this is your first deposit via online banking china, you will need to upload or email a screenshot of your bank statement showing:

Your name (this should match the name used during registration)

Your account number

The transaction to FXTM

I’m depositing via webmoney, are there any more steps I should follow?

If this is your first deposit, after completing the steps outlined in ‘how to deposit funds into my account?’ you will need to upload or emailemail a screenshot of your webmoney account showing the following.

Webmoney ID

Full name (this should match the name used during registration)

Address

WM passport type (deposits can only be accepted from accounts with ‘formal’ or higher WM passport status).

I’m depositing via western union, are there any more steps I should follow?

After completing the steps outlined in ‘how to deposit funds into my account?’ you will need to upload or email a scanned colour copy of the payment confirmation of the transaction made through western union quick pay.

Why is the balance in my account different than what I deposited?

This is possibly due to additional charges made by your payment provider/bank. If this is the case, you should contact your payment processor for further clarification as we do not have access to third-party service systems.

Making a deposit

How can I deposit funds into my account?

In order to deposit funds you need to verify your profile first.

Open the deposits page within the my money section in myfxtm.

Choose your preferred deposit method and click ‘deposit’.

Select the myfxtm account or wallet you wish to deposit funds into and complete the necessary fields.

Confirm your deposit details in the next page.

Some additional steps may be asked from your payment provider.

Watch our step-by-step guides on how to deposit in our how to videos.

How long does it take to process my deposit?

Details on the processing time for each payment method can be found on our deposits and withdrawals page.

If we need to request and verify additional information then the processing time might be longer.

Please note that FXTM is not liable for any delays caused by a 3 rd party payment processor.

I made a deposit during the weekend/bank holiday, when will it be processed?

All deposits made during the weekend/bank holidays will be processed according to the standard processing times for each payment method.

Can I deposit from a country other than my country of residence?

Yes, however you will need to send us an to email explaining the reason for this.

Can I deposit using a joint account?

Yes, you will need to firstly upload or email us the following:

Joint account form

Account holders’ identification (ID) documents

A recent copy of a bank statement clearly stating the account holders’ names and account number.

Payment confirmation from the specified account.

Can I deposit to my personal trading account using a corporate account?

If the funds are deposited through the shareholder’s personal bank account then:

If you are the sole shareholder: the deposit can be processed, but the withdrawal must be sent back to the same bank account as that which made the initial deposit.

Can I deposit using a method that is not in my name?

No, we do not accept third-party transfers. The name of the sender must match the name used when registering with FXTM.

Can I deposit if my current balance is negative?

I’m depositing via credit/debit card, are there any more steps I should follow?

After completing the steps outlined in ‘how to deposit funds into my account?’ you will be redirected to your bank’s page where you will be asked to provide some additional information.

If this is your first deposit via credit/debit card you will need to upload or email a clear colour copy of the front and back of your credit card in order for us to process your request.

The following information should be visible:

The card-holders name (this must match the name used during registration).

Name of issuing bank

The last 4 digits of the card number (all others must be covered).

Credit/debit card expiry date.

Cardholder’s signature.

The CVC2/CVV2 (last 3 digits on the back of your card) must also be covered.

An example can be found below:

If the card is linked to a joint account, please refer to our joint accounts section.

I’m depositing via E-wallet, are there any more steps I should follow?

After completing the steps outlined in ‘how to deposit funds into my account?’ you will be re-directed to your selected E-wallet’s website in order to approve your transaction.

Please note that some e-wallets may require additional details.

I’m depositing via bank-wire, are there any more steps I should follow?

Once the transaction is complete, you will have to upload or email the payment confirmation showing the following:

The bank account number.

Bank account holder’s name (this should match the name used during registration).

Payment details.

Please note that FXTM is not responsible for any additional bank charges.

I’m depositing via online banking china, are there any more steps I should follow?

After completing the steps outlined in ‘how to deposit funds into my account?’ you will be asked to select the bank you wish to use and complete the necessary fields.

If this is your first deposit via online banking china, you will need to upload or email a screenshot of your bank statement showing:

Your name (this should match the name used during registration)

Your account number

The transaction to FXTM

I’m depositing via webmoney, are there any more steps I should follow?

Webmoney ID

Full name (this should match the name used during registration)

Address

WM passport type (deposits can only be accepted from accounts with ‘formal’ or higher WM passport status).

I’m depositing via western union, are there any more steps I should follow?

Why is the balance in my account different than what I deposited?

Policies & regulation

FXTM brand is authorized and regulated in various jurisdictions.

Forextime limited (www.Forextime.Com/eu) is regulated by the cyprus securities and exchange commission with CIF license number 185/12, licensed by the financial sector conduct authority (FSCA) of south africa, with FSP no. 46614. The company is also registered with the financial conduct authority of the UK with number 600475.

Forextime (www.Forextime.Com/uk) is authorised and regulated by the financial conduct authority with license number 777911.

Exinity limited (www.Forextime.Com) is regulated by the financial services commission of the republic of mauritius with an investment dealer license bearing license number C113012295.

Risk warning: cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

Regional restrictions: FXTM brand does not provide services to residents of the USA, mauritius, japan, canada, haiti, suriname, the democratic republic of korea, puerto rico, brazil, the occupied area of cyprus and hong kong. Find out more in the regulations section of our faqs.

How do you fund a forex account?

The forex (FX) market is where currencies from around the world are traded. A foreign exchange account is typically what is used to trade and hold foreign currencies online. Using these accounts is easier than it has ever been in the past. Typically, you will just need to open a new account, deposit the amount of money you choose in your country’s currency, and then you are free to sell and buy currency pairs as you see fit.

Key takeaways

Forex accounts are used to hold and trade foreign currencies.

It is easier than ever for individuals to participate in forex trading, due to the development of margin accounts and electronic trading.

You can invest in forex with as little as $1,000.

The biggest difference between trading equities and trading on forex is the amount of leverage required.

Forex accounts can be funded by credit card, wire transfer, personal check, or bank check.

In the past, currency trading was limited to certain individuals and institutions. That's because the funds required to play were significantly higher than for any other investment instrument. However, with the development of electronic trading networks and margin accounts, requirements have changed. Although nearly 75% of forex trading is still done by large banks and financial institutions, individuals are now able to invest in forex with as little as $1,000—thanks in large part to the use of leverage. Despite these changes, making high returns on highly-leveraged currency trades can be difficult, and will require a good amount of patience and skill.

How forex trading works

By using a margin account, investors essentially borrow money from their brokers. Of course, margin accounts can also be used by investors to trade in equity securities. The main difference between trading equities and trading forex on margin is the degree of leverage that is provided.

For equity securities, brokers usually offer a 2:1 leverage to investors. On the other hand, forex traders are offered between 50:1 and 200:1 leverage. This means that traders need to deposit between $250 and $2,000 to trade positions of $50,000 to $100,000.

Learning the ins and outs of investing in a market that contains foreign currencies can be a useful skill to develop in today’s hyper-connected world.

How to fund a forex account

Forex traders are usually given several options when deciding how they will deposit funds into trading accounts. Credit card deposits have by far become the easiest way. Since the development of online payment services, digital credit card payouts have become increasingly efficient and secure. Investors can simply log in to their respective forex accounts, type in their credit card information and the funds will be posted in about one business day.

Investors can also transfer funds into their trading accounts from an existing bank account or send the funds through a wire transfer or online check. When choosing to perform a wire transfer, keep in mind that most banks will charge about $30 per wire, and there may be a delay of two to three days before the amount will show in the recipient’s account for the first transfer performed.

Traders are also usually able to write a personal check or a bank check directly to their forex brokers. The only problem with using these other methods is the amount of time that is needed to process the payments. For example, paper checks can be held for up to 10 business days (depending on the individual’s bank and the state) before being added to a trading account.

How to deposit money in your easy forex trading account

Easy forex is one of the most recommended forex brokerage firms in kenya. Opening an account with them is easy, and you can start practicing how to trade forex by opening a demo account. However, after some time, you may feel that the time has come to start trading with real money.

Luckily easy forex is one of the best brokers that accept mpesa as a means to fund your account. So, how do you deposit money into your easy forex account?

Easy forex: account types

Easy forex provides forex traders with 4 types of accounts to choose from depending on the minimum amount of deposit that you have, the lot sizes you wish to trade and the level of desired margin level.

The four account types offered are:

Mini account– requires $25 to open.

Gold account– minimum deposit is $500

Platinum– minimum deposit is $5,000

VIP– minimum deposit is $10,000

Funding your easy forex account

Your trading account needs to be funded before you can start trading. Doing so is easy and takes less than 5 minutes.

You can fund your account from your debit (ATM) card, credit card, direct bank transfer or using one of the accepted E-wallets.

Credit cards have become the most convenient way for traders to deposit money into their easy forex accounts. The payment method is secure and takes only a few minutes. Simply type your credit card details on the deposit form, and hit ‘deposit”.

However, you need to note that most forex brokers insist that you can only withdraw funds from the same source that you used to deposit funds. Don’t use your friends skrill account if you do not wish to withdraw your profits from the same account.

XM deposit and withdrawal methods in 2021

In our xm.Com broker review, we described the basic features and offers of this famous forex broker. In this article, we will analyze only deposit and withdrawal options.
XM is one of the leading foreign exchange (forex) brokers globally, and millions of traders worldwide are using XM for forex trading. Many of these forex traders are investing large amounts of money for forex trading. They would like to find out the XM deposit and withdrawal methods to make a decision accordingly. One of the factors affecting the choice of the deposit or withdrawal method is the country in which the trader is residing. Some payment/withdrawal methods are popular in each country due to several factors, and the trader will usually use that method since the fees will be less. Unless specified, the currencies for the deposit and withdrawal methods are USD, EUR, GBP, CHF, HUF, PLN, AUD.

XM deposit and withdrawal methods are online payment methods that XM forex broker allows for traders. XM.Com deposit and withdrawal methods are credit card, debit card, neteller, skrill, unionpay, bank wire. XM withdrawal options for partners are skrill, neteller, and bank wire.

XM offers payment options for traders, such as:

VISA

VISA electron

Mastercard

Maestro

Diners club international

Unionpay

XM card

Skrill

Neteller

Web money

Bank wire

The minimum deposit for an XM account is $5 for MICRO and STANDARD forex trading accounts, $50 for ULTRA LOW trading accounts, $10 000 for SHARES accounts.XM minimum withdrawal value is $5 for MICRO and STANDARD forex trading accounts, $50 for ULTRA LOW trading accounts, while for SHARES accounts is $10 000. The minimum deposit value for the XM account and minimum withdrawal for the XM account is related to the type of order and not the payment method. Skrill withdrawal option is one of the most used payment methods, and the minimum deposit for skrill (withdrawal too) is based on account types.

XM deposit methods

How to deposit the XM account? There are several XM deposit options:

XM credit/debit card

XM accepts deposits using credit and debit cards from visa, visa electron, mastercard, maestro. The minimum deposit amount is $5, and the amount is immediately credited to the user’s forex account. There are no fees for using this deposit method. Since most people have a debit or credit card, this deposit method is widely preferred. However, most credit and debit cards have a limit, so the amount which can be deposited is also limited.

XM electronic payment

All the electronic payment methods have no fees and a minimum deposit of $5. Neteller, skrill, and unionpay are some of the electronic payment methods. For neteller and skrill, the amount is credited to the forex account immediately, while for union pay, the deposit will be processed within 24 hours. Cash only accepts USD deposits and przelewy24 accepts PLN deposits, and the amount is instantly credited to the forex account. For bitcoin, deposits in only three currencies, USD, EUR, JPY, are accepted, and it may take up to one hour for the payment to get processed.

XM banking

For sofort banking, deposits are only accepted in eur & GBP. Though the minimum amount is $5, and there are no fees, the deposit processing time will vary depending on the country. For conventional bank transfer of deposit amount in the forex account, at least two hundred USD or equivalent will have to be deposited in the forex account at a time. The fees depend on the bank, which is used. The amount deposited in the bank account will be credited to the forex account within two to five business days.

XM withdrawal review

If a user wishes to withdraw his money from the XM account, they will have to provide the know your customer (KYC) documents, which are specified. These documents are necessary to prevent money laundering according to the various regulatory bodies’ requirements in different countries. XM has an online and offline form where the customer’s personal information and background details have to be provided. This information will help XM in providing better service to their customers.

Compared to deposits, there are fewer withdrawal methods, which are discussed below. Unless specified, the XM user will have to withdraw at least five USD at a time, and there are no fees for withdrawal. The processing time for the withdrawal request is usually 24 hours on working days if the customer has completed the KYC requirements and submitted the documents required. These documents are the identity proof and proof of address of the trader. However, the amount will be credited to the linked bank account, usually only after three to five business working days.

XM credit cards and electronic payment

Visa, visa electron credit and debit cards, maestro and mastercard credit cards can be used for withdrawing funds. Unionpay is another option for fund withdrawal. Similarly, skrill ( earlier called moneybookers) and neteller are electronic payment methods used for fund withdrawal. Bitcoin can also be used for withdrawing the money in the XM account, though funds can only be withdrawn in USD, EUR, and JPY. Usually, credit/debit card withdrawals are given top priority by XM, followed by bitcoin withdrawals and neteller/skrill (e-wallet) withdrawals.

XM bank wire transfer

Many of the forex traders are trading in large amounts, and they prefer to make bank wire transfers to withdraw their profit.

The smallest amount permitted for making a withdrawal to a bank account is two hundred dollars. The withdrawal fees will vary based on the bank selected by the trader. The amount is usually credited to the bank account two to five business days after the withdrawal request is made. XM may process the bank withdrawal requests more slowly. The longest period of XM bank wire transfer withdrawal was 5 days in my last 8 years.

XM fund safety

To keep their clients’ funds, the forex traders safe, XM takes all measures to prevent unauthorized access to their information systems. All the funds of their clients are segregated and kept with the most reputed banks worldwide. Additionally, XM is also offering negative balance protection to their clients. XM has a risk management system implemented, which will ensure that the trader’s loss will be limited to the amount deposited with XM only.

Forex trading without any deposit

Many people are interested in forex trading yet do not have the money to take the risk. However, it is still possible to get some experience in forex trading without making a deposit.

XM no deposit bonus

To encourage people who are curious about forex trading, XM offers a $30 no deposit bonus to all those who create a new account with XM. This allows the new trader to take the risk of trading without risking his own money. The amount is directly credited to the live trading account and helps the trader understand market conditions.

XM demo account

XM also allows new traders to create a demo or virtual account to trade in forex with virtual money. The trader will be given $50,000 in virtual money for each account created, which he can use to trade, become familiar with the features, and test strategies. A trader can create any number of demo accounts to practice trading. If the demo account is inactive for a long period, it will be deleted immediately.

Deposits & withdrawals

At FXTM, making deposits and withdrawals is simple and straight forward and hardly takes up any of your time. We are constantly striving to offer you even more deposit and withdrawal options and to make the process even easier. If you have any queries just contact our client support team.

deposit method	currency	fees / commission	processing time	deposit funds
visa	EUR, USD, GBP	no commission	2 hours	fund
mastercard	EUR, USD, GBP	no commission	2 hours	fund
maestro	EUR, USD, GBP	no commission	2 hours	fund

deposit method	currency	fees / commission	processing time	deposit funds
paypal	GBP , USD , EUR	no commission	instant	fund
VIP skrill / moneybookers	EUR, USD, GBP, PLN, CZK	no commission	2 hours	fund
VIP neteller	EUR, INR, USD, GBP, PLN, NGN	no commission	2 hours	fund
western union quick pay	USD	no commission	24 - 48 hours**	fund
dotpay	PLN , EUR	no commission	2 hours	fund

withdrawal method	currency	fees / commission	processing time	withdrawal funds
visa	EUR, USD, GBP	2 EUR/ 3 USD/ 2 GBP	same business day***	withdrawal
mastercard	EUR, USD, GBP	2 EUR/ 3 USD/ 2 GBP	same business day***	withdrawal
maestro	EUR, USD, GBP	2 GBP/ 3 USD/ 2 EUR	same business day***	withdrawal

withdrawal method	currency	fees / commission	processing time	withdrawal funds
paypal	GBP, USD, EUR	2%	same business day***	withdrawal
VIP skrill / moneybookers	EUR, USD, GBP, PLN, CZK	no commission	same business day***	withdrawal
VIP neteller	EUR, INR, USD, GBP, PLN, NGN	no commission	same business day***	withdrawal

When an account has been deemed inactive (no trading activity) for a period of 6 months, we will apply an inactivity fee of 5 EUR/ USD/ GBP.

Please note that a processing delay may occur for your transaction in case of a request for additional information or evidence as part of FXTM's due diligence & regulatory procedures. FXTM is not liable for transactional delays in case such information and/or evidence is not received on time.

In case of no trading activity, or if any form of abuse is found relating to the reimbursement policy, FXTM reserves the right to reclaim any reimbursement fees. If you request to withdraw your funds after no trading activity, FXTM reserves the right to charge you the equivalent amount of any banking fees incurred, or 3% of the total withdrawal amount.

** your deposit may take up to 5 business days in the unlikely case that forextime is unable to verify your information or your funds have not yet been received to the forextime account.

***provided that you have submitted all relevant documentation requested by FXTM (if any) by that same business day. Moreover and as in regards to CC withdrawals specifically, the funds will be posted to your bank account within 3-5 business days of being processed by us. Should you encounter any delays after the provided time-frame please contact us in order to investigate it.

All back office transfers are processed during standard business hours, i.E. 08:00-18:00 GMT+2 (GMT+3 DST), mon-fri.

For further regulatory information as regards the payment service providers please click here.

For information about transfers between your trading accounts please visit our internal transfers page.

Policies & regulation

FXTM brand is authorized and regulated in various jurisdictions.

Forextime (www.Forextime.Com/uk) is authorised and regulated by the financial conduct authority with license number 777911.

Exinity limited (www.Forextime.Com) is regulated by the financial services commission of the republic of mauritius with an investment dealer license bearing license number C113012295.

How to deposit money in your easy forex trading account

Luckily easy forex is one of the best brokers that accept mpesa as a means to fund your account. So, how do you deposit money into your easy forex account?

Easy forex: account types

The four account types offered are:

Mini account– requires $25 to open.

Gold account– minimum deposit is $500

Platinum– minimum deposit is $5,000

VIP– minimum deposit is $10,000

Funding your easy forex account

Your trading account needs to be funded before you can start trading. Doing so is easy and takes less than 5 minutes.

You can fund your account from your debit (ATM) card, credit card, direct bank transfer or using one of the accepted E-wallets.

Forex.Com minimum deposit

All reviews and top lists updated for 2021. Check out the annual brokerchooser awards.

Forex.Com minimum deposit amount

The minimum deposit at forex.Com is $100.

Check the following comparison table to see how forex.Com stacks up against similar brokers when it comes to minimum deposits:

Forex.Com minimum deposit vs. Similar brokers

forex.Com	oanda	IG
minimum deposit	$100	$0	$0

They expect to deposit 100 of your account currency but they advise to have at least 1000 units of your account currency

The minimum deposit means that you will first need to transfer this amount to your brokerage account from your bank account in order to start trading. It is sometimes called an initial deposit or funding.

Beyond the required minimum deposit, there are a couple of other factors to consider when you are about to open an account at forex.Com. Here are the main pros and cons when it comes to depositing at forex.Com:

Pros	cons
• credit/debit card deposit	none
• no deposit fee
• several account base currencies

Visit broker
79% of retail CFD accounts lose money

Why does forex.Com require a minimum deposit?
Online brokers sometimes require a minimum deposit in order to cover their initial costs associated with creating a new account and to ensure their profitability. The higher the amount you deposited, the higher the chance for you to trade more and generate bigger profits for the broker.

In some cases, the very high minimum deposit (like the £1 million amount at the VIP account of saxo bank) is there to differentiate the level of services they offer you.

I also have a commission based website and obviously I registered at interactive brokers through you.

Especially the easy to understand fees table was great!

Forex.Com minimum deposit
forex.Com deposit fees and deposit methods

Forex.Com does not charge a deposit fee. This is great because the broker won't deduct anything from your deposits and you only have to calculate with the costs charged by the bank / third-party you send the money with. If you want to know more about forex.Com fees, check out the fee chapter of our forex.Com review.

While there is no deposit fee at forex.Com, the available deposit methods are also important for you. See how forex.Com deposit methods compare with similar online brokers:

Forex.Com deposit methods vs. Similar brokers

forex.Com	oanda	IG
bank transfer	yes	yes	yes
credit/debit card	yes	yes	yes
electronic wallets	yes	yes	yes

The average transfer times for the different methods are:

Wire transfer: 2-3 days

Credit / debit card and online wallets: instant or a few hours

A minor issue with depositing money to forex.Com is that based on our experience it's not user-friendly compared to similar brokers. This means either that the interface is not user-friendly or that figuring out where and how you have to make the transfer is a bit complicated.

The interface to send the minimum deposit to Forex.com

Find out more about depositing to forex.Com on their official website:

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79% of retail CFD accounts lose money

Forex.Com minimum deposit
deposit currencies

Each trading account has a base currency, which means that the broker will hold your deposited money in that currency. At some brokers, you can also have more trading accounts with different base currencies. For example, at IG, it is possible to have both EUR and USD-based accounts.

Why does this matter? A currency conversion fee will be charged if you deposit in a different currency than the base currency of the target trading account. It's likely not a big deal but something you should be aware of.

Some online brokers offer trading accounts only in the major currencies (i.E. USD, GBP, EUR and sometimes JPY) and some support a lot more than that.

Forex.Com trading account currencies vs. Similar brokers

forex.Com	oanda	IG
number of base currencies	6	9	6

Forex.Com supports the major currencies like USD, GBP and EUR, but does not support minor currencies. If you would deposit in a major currency anyway, then the online broker won't have to convert it. However, if you use a minor currency that is not supported, forex.Com will convert your deposits and you will be charged a currency conversion fee.

A convenient way to save on the currency conversion fee if you wish to fund your brokerage account from a less common currency (or just a currency different from your existing bank account) can be to open a multi-currency digital bank account. At revolut or transferwise the account opening only takes a few minutes after which you can upload your existing currency into your new account, exchange it in-app at great rates, then deposit it into your brokerage account for free or cheap.

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Forex.Com minimum deposit
steps of sending the minimum deposit

The specific process of sending your minimum deposit to forex.Com might vary slightly from the following, but generally the process involves the following steps:

Step 1: open your broker account

At most brokers, you can open your trading account online. To open an account, you have to provide your personal details, like your date of birth or employment status, and there is also usually a test about your financial knowledge. The last step of the account opening is the verification of your identity and residency. For this verification you usually have to upload a copy of your ID card and a document that validates your proof of residence, for example, a bank statement.

If you don't know which broker is suitable for you, use our broker selector tool.

Step 2: make the deposit

First you have to sign in to your already opened trading account and find the depositing interface. After this, you select one of the deposit methods the broker supports, enter the deposit amount and make the deposit.

The deposit methods can be one or more of the following:

Bank transfer (sometimes called wire transfer): you have to add your bank account number in the deposit interface. The bank account has to be in your name. After this, you need to start a bank transfer from your bank. The broker will give you a reference number that you'll have to enter as a comment in your transaction. This will allow them to identify your deposit.

Credit or debit cards: just as with a normal online purchase, you are required to enter the regular card details. However, unlike any other online purchase, it's required to use a card that's in your name. In some cases, like with IC markets, you'll also need to verify your card by scanning it and sending it to the broker. This is yet another anti-money laundering measure on their end. Card payment is usually the preferred and most convenient way of depositing. On the other hand, some brokers define a cap for card deposits, so for a larger amount you might have to use the bank transfer.

Online wallets like paypal, skrill, neteller, etc.: it works just like any other online purchase. The interface of the wallet will pop up where you'll have to enter your credentials (username and password) and carry out your transaction.

Step 3: review your transaction

Depending on the method you chose, it might take a couple of days for your deposit to show up on your brokerage account. When it happens, the brokers usually send you an email to confirm the receipt of the deposit.

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Forex trading without deposit | no deposit bonus explained

It’s generally known that in order to get started in forex, you need to put a lot of resources into it. And while these resources can be your time and energy, the most straightforward one is, of course, your money.

It’s no surprise that one regular lot is equal to 100,000 currency units – forex trading is definitely an expensive endeavor. However, there are still some ways in which you can start trading forex while maintaining some sort of profitability without spending hundreds of thousands of dollars.

No deposit bonus in a glance

In forex trading you can, in fact, start trading with no money of your own or even making a deposit. With free no deposit bonus offered by the top forex brokers, you can start forex trading without deposit with a good boost.

There is no sense in hiding the fact that FX trading is risky, especially if you are trading without proper knowledge and at least minimal experience. In an attempt to prevail over the risk of losing your money and to stay safe, it is undoubtedly better to start trading with a free forex account or no deposit bonus offered by various FX brokers. Especially if such deals are not so rare at this time and even best forex brokers sometimes offer such deals.

It is always better to preview all conditions that offer you an option to trade without money of your own. So, be sure to start forex trading without a deposit now and get yourself a good and reliable deal!

But let’s say that although you’ve learned how to start deposit free forex trading, it’s still too risky for you. Thankfully, there is an alternative. One way to start trading with a broker is by opening a free forex demo account for beginners. A demo account will allow you to try your hand at trading on the real market without ever touching real money. One of the best brokers to try a free demo account with would be FXTM. If you don’t want to be working with FXTM and want access to a reliable forex broker that offers its services around the globe, alpari offers a similar service, including forex trading demo accounts. If you are a US citizen that wants to trade with local brokers, then you should go for forex.Com, who offer their services within the US and are known to be one of the best brokers in the world.

Transparent pricing and fast, reliable trade executions on over 80 currencies

Start trading with the largest forex broker in the US

How to start forex trading without deposit: tips & recommendations

As a matter of fact, a lot of brokers worldwide try to offer their clients those no deposit deals, and we’ve even seen some trading apps without deposit popping up here and there. Do not perceive this as an act of generosity though, those bonuses serve as a sort of protection for them also. But still, this is good for you if you want to start forex trading without a deposit.

Here are some of the main considerations that can help you spot a decent no deposit bonus:

If you somehow dislike conditions and terms offered by the broker – simply skip the promotion. Let’s investigate the ways that may help you find the best bonus in FX. First of all, bonuses must be easy to understand and transparent in general conditions. If you see non-explicit information presented, avoid the promotion or ask the broker for clarification.

If you wish to take part in the particular promotion and start forex trading without investment, then do not overlook terms and conditions. Even the smallest detail must be in your sight. A free bonus is actually not always 100% free. Some brokers may ask you to deposit some money in order to collect your profits. Indeed, such promotions are scams.

Be attentive, because some forex brokers can demonstrate a good opportunity with their no deposit bonus, however it may ask to complete the trading volume requirement. Stay away from the bonus that asks to complete more than 1 lot for $10 to further unlock the profits and balance.

Bonuses can vary in terms of geographical location requirements. Therefore, ensure that FX bonus accounts of the broker are given in your country as well if you desire to start forex trading without investment. Furthermore, there can be account restrictions. This means that no deposit bonuses may not always be available for every account at a particular broker. Thus, check whether you applied for a correct account.

In addition, make sure what instruments can be traded to withdraw your profit before you begin trading as sometimes FX bonus accounts are not available for some of them. As for the withdrawal, some forex bonus brokers limit the maximum profit available to withdraw from the account. So, do not miss this field before you start trading on your no deposit FX bonus account.

Bonuses are frequently represented only in 1 currency equivalent. However, there are many no deposit bonuses that evaluate a similar amount in your local currency, so doing your research in order to figure out how to join forex trading without making any deposits is a good way for ensuring success in the long run.

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How to start forex trading without a deposit?

As one of the cases, no deposit bonus may come with SMS verification. It is recommended to make sure that you have the right phone number prior to start applying for the bonus.

One of the last tips that can help you find a trustworthy no deposit bonus, or at least help you get through a scammer, is to save the terms and conditions document as a .Pdf file. Do this even if you deal with the best no deposit forex bonus account. You can use the help of your account manager and ask him to confirm all the statements of the bonus promotion in which you participate.

Start forex trading without deposit: introduction to best no deposit bonuses

Although there are very good no deposit bonuses offered by industry leaders and most proficient brokers, you should understand one fact: FX bonuses without a deposit are most frequently offered by bad brokers. That is the very reason why you should be very careful not to get entangled with a scammer.

All this leads to us stressing how important it is to be attentive at all times, so be attentive to details when researching how to start trading with no deposit bonuses. Fortunately, we have examples of the best brokers/investment firms.

Start forex trading without investment: XM forex broker

To begin with, XM is recognized by the united kingdom-based organization – investors in people for its powerful efforts in developing individuals to realize their entire potential and achieve both individual and corporate goals. We should also admit that this organization provides a huge amount of proven tools and resources specially designed to complement its unique framework with an aim to boost performance and indeed maximize sustainability. XM achieves this standard by showing that it is a driving force in the online trading sector and is committed to the provision of services and products of the best quality. How to start forex trading without money? If you are interested, you can claim the XM 30 USD no deposit bonus!

Get your 30 USD no deposit bonus with XM, and start trading today

*clients registered under the EU regulated entity of the group are not eligible for the bonus

No deposit bonus as an alternative – is it worth it?

So, now that you know what no deposit bonuses are and how they work, one question remains active: is it actually worth it to sign up for one yourself? Will you get any significant benefit from it?

The answer to that question is subjective; some traders can definitely find use in this type of promotion by amassing a small account balance and then turning it into a full-blown trading career. But in order to do so, you need to be very careful not to catch a scammer instead of a legitimate promotion issuer.

As for other traders, they often prefer spending their own money, which gives them more incentive to be more careful in the market – after all, it’s their own money they’re risking.

So, suffice to say no deposit bonuses have their time and place; one just has to seize that exact moment.

10 ways to avoid losing money in forex

The global forex market is the largest financial market in the world and the potential to reap profits in the arena entices foreign-exchange traders of all levels: from greenhorns just learning about financial markets to well-seasoned professionals with years of trading experience. Because access to the market is easy—with round-the-clock sessions, significant leverage, and relatively low costs—many forex traders quickly enter the market, but then quickly exit after experiencing losses and setbacks. Here are 10 tips to help aspiring traders avoid losing money and stay in the game in the competitive world of forex trading.

Do your homework

Just because forex is easy to get into doesn’t mean due diligence should be avoided. Learning about forex is integral to a trader’s success. While the majority of trading knowledge comes from live trading and experience, a trader should learn everything about the forex markets, including the geopolitical and economic factors that affect a trader’s preferred currencies.

Key takeaways

In order to avoid losing money in foreign exchange, do your homework and look for a reputable broker.

Use a practice account before you go live and be sure to keep analysis techniques to a minimum in order for them to be effective.

It's important to use proper money management techniques and to start small when you go live.

Control the amount of leverage and keep a trading journal.

Be sure to understand the tax implications and treat your trading as a business.

Homework is an ongoing effort as traders need to be prepared to adapt to changing market conditions, regulations, and world events. Part of this research process involves developing a trading plan—a systematic method for screening and evaluating investments, determining the amount of risk that is or should be taken, and formulating short-term and long-term investment objectives.

How do you make money trading money?

Find a reputable broker

The forex industry has much less oversight than other markets, so it is possible to end up doing business with a less-than-reputable forex broker. Due to concerns about the safety of deposits and the overall integrity of a broker, forex traders should only open an account with a firm that is a member of the national futures association (NFA) and is registered with the commodity futures trading commission (CFTC) as a futures commission merchant. each country outside the united states has its own regulatory body with which legitimate forex brokers should be registered.

Traders should also research each broker’s account offerings, including leverage amounts, commissions and spreads, initial deposits, and account funding and withdrawal policies. A helpful customer service representative should have the information and will be able to answer any questions regarding the firm’s services and policies.

Use a practice account

Nearly all trading platforms come with a practice account, sometimes called a simulated account or demo account, which allow traders to place hypothetical trades without a funded account. Perhaps the most important benefit of a practice account is that it allows a trader to become adept at order-entry techniques.

Few things are as damaging to a trading account (and a trader’s confidence) as pushing the wrong button when opening or exiting a position. It is not uncommon, for example, for a new trader to accidentally add to a losing position instead of closing the trade. Multiple errors in order entry can lead to large, unprotected losing trades. Aside from the devastating financial implications, making trading mistakes is incredibly stressful. Practice makes perfect. Experiment with order entries before placing real money on the line.

$5 trillion

The average daily amount of trading in the global forex market.

Keep charts clean

Once a forex trader opens an account, it may be tempting to take advantage of all the technical analysis tools offered by the trading platform. While many of these indicators are well-suited to the forex markets, it is important to remember to keep analysis techniques to a minimum in order for them to be effective. Using multiples of the same types of indicators, such as two volatility indicators or two oscillators, for example, can become redundant and can even give opposing signals. This should be avoided.

Any analysis technique that is not regularly used to enhance trading performance should be removed from the chart. In addition to the tools that are applied to the chart, pay attention to the overall look of the workspace. The chosen colors, fonts, and types of price bars (line, candle bar, range bar, etc.) should create an easy-to-read-and-interpret chart, allowing the trader to respond more effectively to changing market conditions.

Protect your trading account

While there is much focus on making money in forex trading, it is important to learn how to avoid losing money. Proper money management techniques are an integral part of the process. Many veteran traders would agree that one can enter a position at any price and still make money—it’s how one gets out of the trade that matters.

Part of this is knowing when to accept your losses and move on. Always using a protective stop loss—a strategy designed to protect existing gains or thwart further losses by means of a stop-loss order or limit order—is an effective way to make sure that losses remain reasonable. Traders can also consider using a maximum daily loss amount beyond which all positions would be closed and no new trades initiated until the next trading session.

While traders should have plans to limit losses, it is equally essential to protect profits. Money management techniques such as utilizing trailing stops (a stop order that can be set at a defined percentage away from a security’s current market price) can help preserve winnings while still giving a trade room to grow.

Start small when going live

Once a trader has done their homework, spent time with a practice account, and has a trading plan in place, it may be time to go live—that is, start trading with real money at stake. No amount of practice trading can exactly simulate real trading. As such, it is vital to start small when going live.

Factors like emotions and slippage (the difference between the expected price of a trade and the price at which the trade is actually executed) cannot be fully understood and accounted for until trading live. Additionally, a trading plan that performed like a champ in backtesting results or practice trading could, in reality, fail miserably when applied to a live market. By starting small, a trader can evaluate their trading plan and emotions, and gain more practice in executing precise order entries—without risking the entire trading account in the process.

Use reasonable leverage

Forex trading is unique in the amount of leverage that is afforded to its participants. One reason forex appeals to active traders is the opportunity to make potentially large profits with a very small investment—sometimes as little as $50. Properly used, leverage does provide the potential for growth. But leverage can just as easily amplify losses.

A trader can control the amount of leverage used by basing position size on the account balance. For example, if a trader has $10,000 in a forex account, a $100,000 position (one standard lot) would utilize 10:1 leverage. While the trader could open a much larger position if they were to maximize leverage, a smaller position will limit risk.

Keep good records

A trading journal is an effective way to learn from both losses and successes in forex trading. Keeping a record of trading activity containing dates, instruments, profits, losses, and, perhaps most important, the trader’s own performance and emotions can be incredibly beneficial to growing as a successful trader. When periodically reviewed, a trading journal provides important feedback that makes learning possible. Einstein once said that “insanity is doing the same thing over and over and expecting different results.” without a trading journal and good record keeping, traders are likely to continue making the same mistakes, minimizing their chances of becoming profitable and successful traders.

Know tax impact and treatment

It is important to understand the tax implications and treatment of forex trading activity in order to be prepared at tax time. Consulting with a qualified accountant or tax specialist can help avoid any surprises and can help individuals take advantage of various tax laws, such as marked-to-market accounting (recording the value of an asset to reflect its current market levels).

Since tax laws change regularly, it is prudent to develop a relationship with a trusted and reliable professional who can guide and manage all tax-related matters.

Treat trading as a business

It is essential to treat forex trading as a business and to remember that individual wins and losses don’t matter in the short run. It is how the trading business performs over time that is important. As such, traders should try to avoid becoming overly emotional about either wins or losses, and treat each as just another day at the office.

As with any business, forex trading incurs expenses, losses, taxes, risk and uncertainty. Also, just as small businesses rarely become successful overnight, neither do most forex traders. Planning, setting realistic goals, staying organized, and learning from both successes and failures will help ensure a long, successful career as a forex trader.

The bottom line

The worldwide forex market is attractive to many traders because of the low account requirements, round-the-clock trading, and access to high amounts of leverage. When approached as a business, forex trading can be profitable and rewarding, but reaching a level of success is extremely challenging and can take a long time. Traders can improve their odds by taking steps to avoid losses: doing research, not over-leveraging positions, using sound money management techniques, and approaching forex trading as a business.

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