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How to Fund a Forex Account

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Ali Qamar

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Best Ways for Funding Forex Account

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A while ago, forex trading was limited to some folks and institutions. The reason being, it required significantly higher funds, but now things have changed with individuals investing to a minimum of $100. However, praise should be directed to the use of leverage.

 

You have an account, right? But, are you aware of the best ways to fund your account?

When buying shares, a ‘payin’ gets debited into your account, and when selling shares, a payout is credited. However, before buying, you first need to fund your trading account; it’s the starting point.

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Min.Deposit

$ 1

Leverage max

1

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1+

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1or more

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1or more
Recommended

Rating

Total cost

$ 0 Commission 3.5

Mobile App
10/10

Min.Deposit

$100

Spread min.

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Leverage max

100

Currency Pairs

40

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Demo
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Bank Transfer Credit Card Giropay Neteller Paypal Sepa Transfer Skrill

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FCA

What you can trade

Forex

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-

EUR/USD

-

EUR/JPY

0.3

EUR/CHF

0.2

GBP/USD

0.0

GBP/JPY

0.1

GBP/CHF

0.3

USD/JPY

0.0

USD/CHF

0.2

CHF/JPY

0.3

Additional Fee

Continuous rate

Variables

Conversión

Variables pips

Regulation

Yes

FCA

No

CYSEC

No

ASIC

No

CFTC

No

NFA

No

BAFIN

No

CMA

No

SCB

No

DFSA

No

CBFSAI

No

BVIFSC

No

FSCA

No

FSA

No

FFAJ

No

ADGM

No

FRSA

71% of retail investor accounts lose money when trading CFDs with this provider.

Rating

Total cost

$ 0 Commission 0

Mobile App
10/10

Min.Deposit

$100

Spread min.

- pips

Leverage max

400

Currency Pairs

50

Trading platforms

Demo
Webtrader
Mt4
MT5
Avasocial
Ava Options

Funding Methods

Bank Transfer Credit Card Neteller Skrill

Regulated by

CYSECASICCBFSAIBVIFSCFSCAFSAFFAJADGMFRSA

What you can trade

Forex

Indices

Actions

Cryptocurrencies

Raw Materials

Etfs

Average spread

EUR/GBP

1

EUR/USD

0.9

EUR/JPY

1

EUR/CHF

1

GBP/USD

1

GBP/JPY

1

GBP/CHF

1

USD/JPY

1

USD/CHF

1

CHF/JPY

1

Additional Fee

Continuous rate

-

Conversión

- pips

Regulation

No

FCA

Yes

CYSEC

Yes

ASIC

No

CFTC

No

NFA

No

BAFIN

No

CMA

No

SCB

No

DFSA

Yes

CBFSAI

Yes

BVIFSC

Yes

FSCA

Yes

FSA

Yes

FFAJ

Yes

ADGM

Yes

FRSA

71% of retail investor accounts lose money when trading CFDs with this provider.

Rating

Total cost

$ 0 Commission 6.00

Mobile App
7/10

Min.Deposit

$10

Spread min.

- pips

Leverage max

10

Currency Pairs

60

Trading platforms

Demo
Webtrader
Mt4

Funding Methods

Credit Card

What you can trade

Forex

Indices

Cryptocurrencies

Average spread

EUR/GBP

1

EUR/USD

1

EUR/JPY

1

EUR/CHF

1

GBP/USD

1

GBP/JPY

1

GBP/CHF

1

USD/JPY

1

USD/CHF

1

CHF/JPY

1

Additional Fee

Continuous rate

-

Conversión

- pips

Regulation

No

FCA

No

CYSEC

No

ASIC

No

CFTC

No

NFA

No

BAFIN

No

CMA

No

SCB

No

DFSA

No

CBFSAI

No

BVIFSC

No

FSCA

No

FSA

No

FFAJ

No

ADGM

No

FRSA

Your capital is at risk.

Rating

Total cost

$ 0 Commission 0.1

Mobile App
10/10

Min.Deposit

$50

Spread min.

- pips

Leverage max

500

Currency Pairs

40

Trading platforms

Demo
Webtrader
Mt4
STP/DMA
MT5

Funding Methods

Bank Transfer Credit Card Neteller Skrill

What you can trade

Forex

Indices

Actions

Raw Materials

Average spread

EUR/GBP

-

EUR/USD

-

EUR/JPY

-

EUR/CHF

-

GBP/USD

-

GBP/JPY

-

GBP/CHF

-

USD/JPY

-

USD/CHF

-

CHF/JPY

-

Additional Fee

Continuous rate

-

Conversión

- pips

Regulation

No

FCA

No

CYSEC

No

ASIC

No

CFTC

No

NFA

No

BAFIN

No

CMA

No

SCB

No

DFSA

No

CBFSAI

No

BVIFSC

No

FSCA

No

FSA

No

FFAJ

No

ADGM

No

FRSA

71% of retail investor accounts lose money when trading CFDs with this provider.

Some brokers may refuse to pay traders, and you don’t have to fall victim to those scenarios. Therefore, that’s why this article is best for you.

Forex Broker Funding Methods

One thing that makes forex trading even more attractive is the number of payment methods that are available for traders. The methods are all favorable for both deposits as well as withdrawal options.

These methods are placed in the following payment methods:

Offline Payment Methods

Offline methods are the traditional options, which are often involved when trading large sums of money into your account.

They include;

  • Cheque
  • Bank WIRE
  • Western Union
  • Local deposit

These methods are mostly expensive and will take you up to 5 days or even more for your funds to be in the account. Moreover, they have additional fees like bank transactions and currency exchange service fees.

But before making any significant transfer, ensure the broker is trusted. Offline payments come with a downside that whenever a scam happens, getting your funds back would be difficult.

eWallet Payment Options

Another category you can decide to apply is eWallet payment methods. The method is straightforward to use, has faster processing times, and it has lower transaction costs.

Therefore, this method sounds like the best shot (no wonder it’s overgrowing and getting popular).

The well-used methods in this category include;

  • CashU
  • PayPal
  • Neteller
  • Webmoney
  • Skrill

eWallet can be described as the best option a trader can use because its methods like Skrill and PayPal protect from any possible scams. Also, there’re bonuses from most forex brokers once a trader deposits using the eWallet methods.

Credit/Debit Cards

Another popular way of funding an account is via a debit or credit card. It’s the best as it’s more instant. But, it may not be appealing to you depending on your bank. The amount limit to deposit may differ with various banks.

Also, in cases of a broker being a scam, it’s easier to get a refund by merely a chargeback, but there’s a lot of explanation to do as well as some costs. However, it’s not a guarantee that you’ll get your money back.

 

AvaTrade - Established Broker With Commission-Free Trades

Our Rating

  • Minimum deposit of just 250 USD to get lifetime access to all the VIP channels
  • Awarded Best Global MT4 Forex Broker
  • Pay 0% on all CFD instruments
  • Thousands of CFD assets to trade
  • Leverage facilities available
  • Instantly deposit funds with a debit/credit card
71% of retail investor accounts lose money when trading CFDs with this provider.

 

Nevertheless, the best method of funding your trading account should always be safe to use, have cheaper transaction costs, and the processing times have to be quicker. The choice is for you to make, but for most traders, the eWallet is winning because it has all those attributes.

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