Forex.com is a name that turns heads whenever it’s mentioned within the forest industry. It is one of the biggest forex brokers in the industry and its services revered all over. Forex.com from the USA and most of these features and services are the best in the industry thanks to the highly developed trading infrastructure in the United States.
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Forex.com is among the cheapest forex the cars that you can trade on, if not the cheapest. It is also who respected because forex Traders on forex.com are guaranteed that their funds are safe and that their trades are executed within the right time.
The main company that owns and operates forex.com traded in the New York Stock Exchange meaning it has deep liquidity and holds a good position on the forex market. That translates into top-notch services executing your trade is concerned as well as providing you with resourceful market tips and reports.
As exciting as the conversation about trading on Forex.com, our focus today is on how you can transact with forex.com, and what are its minimum deposits. Why are we concerned with minimum deposits? You might ask. It’s because the minimum deposits can be the difference between being able to trade on forex.com or not.
Before you get to the transaction methods available on forex.com, let’s try to understand how much money You’re going to need to be able to trade on Forex.com. That is where the conversation about minimum deposits comes in.
Forex.Com Minimum Deposits
There isn’t much to write home about forest.com minimum deposits, and that’s because all its accounts require the same minimum deposit. You are going to need $50 only to get started on any forex.com trading account. It wouldn’t hurt to review the kind of trading accounts that forex.com though.
Forex.com is known to have four different trading accounts, although they are quite similar to each other. The four accounts are;
- Individual account
- Joint account
- Corporate account
- Sharia account
As we’ve mentioned above, these four accounts are quite similar in terms of the trading tools you’ll find inside them, and the kind of trading support you are going to get if you hold them. The main distinction between the accounts is just the ownership structure. Forex.com concentrates on making it possible for forex traders to own a trading account as a single person or as an entity. If you take a closer look at the names of the various account, you are going to understand how they are held and operated.
The Sharia account could be said to be a little bit different though. The account is designed with Islamic teachings and ideals in mind, and it is meant to be used by Muslims. You might ask why they need to have a special trading account. There are certain Islamic teachings that do not marry well with forex trading as we know it. As such the account is designed to ensure Muslims are able to take part in the forex market without compromising their religious beliefs.
Now that we have a clearer picture of the trading accounts on forex.com under the kind of money you need to deposit in order to get started, let’s explore how you actually deposit those funds into your forex.com.
Deposit and withdrawal methods on forex.com
Depositing and withdrawing funds from forex.com has never and should not be difficult. As the top forex broker that it is, it ensures that transactions between it and its clients are as seamless as possible. As you might already know, that is if you have transacted with any other online business or broker, there are three standard categories of methods of transacting online. Forex.com features all three. They are;
- Credit and debit cards
- Wire and bank transfers
Under E-wallets there are several service providers. The case is the same for Credit or debit cards. Why are in bank transfers work in a similar fashion across or forex brokers or any other online businesses. Let’s explore the various methods offered by forex.com under each of these categories.
E-wallets are the most modern methods of transacting with online businesses. Many millennials believe there is no better way for transacting than e-wallets. It is difficult to argue with them given the convenience and the pocket-friendliness of using e-wallets. The case is no difference in forex.com. There is quite a number of e-wallet services on forex.com and they are the most preferred by the millions of traders on the platform.
Among the e-wallets available on forex.com.
- Perfect Pay, etc
The list above contains some of the most notable names in the e-wallet industry. These are very convenient and economical payment services to use. Another interesting aspect about them is the way they are embedded in it makes the forex.com platform. It quite easy for you to make the deposit.
Unfortunately, each of these e-wallets is restricted to certain countries. None of them is available in all the countries that forex.com operates in. As such, it is highly unlikely that you will have the luxury to choose from all the options available. Most Traders will have an option between two or three of them. You are lucky if you have more than four options available to you. If you have access to one of them, it’s enough and it will allow you to trade with forex.com seamlessly.
Just like anywhere else where e-wallets are used, you are forex.com deposits through e-wallets are instant. If you’ve just noticed at Reading opportunity and you want to make a deposit as soon as possible e-wallets should be your method of choice.
Credit or debit cards
According to us, credit or debit cards are just as convenient as e-wallets. People who have been using credit and debit cards to make payments online for the longest time. The use of cards has only gotten better with the time, and it’s going to be a while before any other technology can beat it. Forex.com with some of the biggest names in the card service-providers industry.
Maestro, Visa, Visa Electron, and MasterCard are some of these big names. If you have any of these cards, there is no reason as to why you should not be able to trade with forex.com. Just like e-wallets, card payments are instant. It is another ideal option if you want to see you’re trading balance reflecting immediately on your trading account.
Cards are also quite economical. You will not incur any exorbitant charges while depositing funds of forex.com. Any charges that you might incur while using your card from your bank or service provider. If any the charges are usually quite negligible.
One thing you must have in mind is that cards are attached to a particular location. While signing up for your cards you must have attached a particular address to it. While making the deposit your computer will pick your location through your IP address and compare it to the address registered on your card in order to verify the transaction. That means that there is a high likelihood that your payment will be rejected if you are far away from the address on the card.
Wire and bank transfers
Last but not least, let’s talk about wire or bank transfers. Many new Traders would not expect to find wire transfers as one of the methods of transacting with online platforms such as forex.com. However, if you dig a little bit deeper, you are going to realize that they are very important. Here is why!
Forex.com is a big forex broker that has managed to launch its operations in a lot of countries around the world. Some of these countries are emerging markets and the trading infrastructure might not be very developed. That means that hi-Tech money-transfer methods such as cards and e-wallets might not be available. It, therefore, follows that traders in such places do not have a choice but to use wire transfers.
Also, no other method can beat the reliability of wire transfers. Wire transfers will never have downtimes or breakdowns and are not susceptible to attack by hackers and scammers. If you have any doubts about the safety of your fans while using any of the other methods, you can use wire transfers and rest assured that your money is completely safe.
Many Traders do not like transacting with wire transfers though. It is easy to understand why. Wire transfers are expensive and slow. Each wire transfer will cost you many times what a similar credit card or e-wallet payment would. Also, you will have to wait for not less than three business days before the transaction is complete. Nobody is getting excited about that.
Forex.com is a top forex broker in many ways. There is nothing you can take away from it. Please note that it is not our business to promote any forex program, but we feel obliged to bring you what we find to be the best services for individual forex brokers.