FXCM Minimum Deposit
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If you plan to trade with an FXCM broker for the first time, knowing about the FXCM minimum deposit should be your top priority. No doubt that a minimum deposit is an excellent investment for all first-time traders at any broker platform.
Likewise, the FXCM broker platform offers some great trading opportunities to both old and new investors. Right through this guide, we will discuss all the essential details about FXCM minimum deposit, payment methods and how to deposit funds in your account.
Introduction about FXCM minimum deposit
Nevertheless, all the active traders have to deposit a minimum amount of $25,000 for trading high volume on their accounts.
|Minimum Deposit||$50 (for the non-EU & UK clients)|
|Base Currencies||EUR, USD, CHF, GBP, AUD|
What is the FXCM deposit bonus?
If you open your account in South Africa, FXCM offers the trader a deposit bonus of $20. However, the promotion bonus cannot be withdrawn immediately. Although you cannot withdraw the bonus right away, you can surely use it to trade within the platform!
Which are the FXCM accepted deposit currencies?
To start trading with FXCM, this broker platform supports a variety of base currencies. Including:
Additionally, a few other base currencies are supported to meet the requirements of all traders. Make sure FXCM supports the currency you plan to trade before you make any deposit. If this is not the case, an unsupported currency will be charged with a conversion fee.
FXCM minimum deposit vs other brokers: Comparison table
In the below table, we will compare the minimum deposit details of FXCM with other top leading forex brokers:
|Number of deposit methods||3||9||11|
|Account Currencies||USD, EUR, GBP, AUD, CHF||USD, EUR, GBP, NGN, ZAR, AED||USD, EUR, GBP, NGN|
Steps to follow to deposit funds in your FXCM account
Step no 1: Open your free demo account
As a beginner, you can learn about forex trading and funding by creating a demo account on the FXCM platform. It even allows you to test some trading strategies. Demo accounts are available unlimitedly, so you can still use a demo account even after you open a standard account.
Step No 2: Go for the live account
For experienced traders, opening a live account is the next step towards becoming a professional trader. As soon as FXCM verifies your account, you can instantly start depositing the amount to trade with.
To deposit the amount, you must meet a minimum deposit amount and wait for a specific period.
Which payment methods are available to deposit at the FXCM account?
The FXCM broker is so popular because it does not charge a single amount on deposits. Instead, possibly, they deduct some charges from a bank or the third party at the time of depositing.
Few FXCM deposit payment methods are:
- Bank transfer
- Debit card/credit card
- Electronic wallet (Skrill, Neteller, or Union Pay)
Each of the payment methods which we have discussed above has a duration to complete the depositing process. Transfer time of each method is:
- Cable transfer will take a maximum of 2-3 days
- Debit cards or credit cards can take a couple of hours
- The online wallet will work instantly if the internet connection is fast
Few other payment methods which an FXCM trader can use are Union Pay, Skrill, Master Card, Neteller, Bank Wire and Visa.
For the FXCM account users, deposits should be transacted in USD ($) and Europe (€). This is because only these two currencies can be used when a transaction is being made. If not, you have to convert your currency into any of these two. Otherwise, a trader cannot make any deposit.
Upon changing the currency, the deposit will instantly change financially.
Does FXCM charge any deposit fees?
Being an FXCM broker user, you should have explicit knowledge about the commission and deposit fees. Therefore, looking for a broker platform that is deposit free plays a vital role for any new trader.
With FXCM, a user does not have to pay a single penny on their deposit. This is an excellent opportunity for new users!
Additionally, the platform does not impose any rules or restrictions on traders. A lower fee is applied to the trader if they want to save their money. It is easy to deposit your funds with FXCM through an e-wallet and credit card or a debit card.
Pros and cons of FXCM minimum deposit
- Minimum deposit amount for all traders
- A variety of base currencies are supported
- No fee is charged for funding the account
- The deposit bonus is available
- Supported deposit methods are limited
FXCM minimum deposit: FAQs
1. Does FXCM offer a free demo account to learn to trade?
A free demo account is also available by FXCM to create an account with and start trading as a beginner.
2. How can you deposit money into FXCM?
Sign up into your account and click the “deposit” option. Next, choose the payment method to start trading with. You can follow the same steps if you are depositing from the App.
3. Does FXCM charge any withdrawal fees?
FXCM does not charge, but the selected payment processing provider might charge a small handling fee.
Is FXCM legit to start trading with?
To sum up, FXCM is a top leading broker platform with minimum deposits online compared to other broker platforms. Therefore, it’s easy and legit to make maximum profits with FXCM by creating an online account based on your financial position.
It is free from scam stories and licensed to perform trading activities with no cheat. So start trading with FXCM without a single delay!
Jason Morgan is an experienced forex analyst and writer with a deep understanding of the financial markets. With over 13+ years of industry experience, he has honed his skills in analyzing and forecasting currency movements, providing valuable insights to traders and investors.
Forex Content Writer | Market Analyst