Forex Traders often wish to trade with brokers that offer suitable trading conditions, affordable minimum deposits, and easy-to-use trading platforms. Sometimes they even trade with loosely regulated forex brokers for lower minimum deposits and higher leverage. Forex.com is one of the highly regulated forex brokers that offer online trading services to traders worldwide. It is regulated by IIROC, CIMA, FFAJ, FCA, NFA, etc.
If you are considering using Forex.com as your broker, you may be wondering about the minimum deposit requirements and deposit conditions of Forex.com. In this guide, we will provide you with a comprehensive overview of Forex.com’s minimum deposit requirements, deposit process, and other important information you need to know before you start your trading journey
What is the minimum deposit for Forex.com?
The minimum deposit of Forex.com is $100.
Forex.com Overview
- Founded In: 2001
- Founder: Gain Capital
- Headquarters: United States
- Minimum Deposit: $50
- Maximum Leverage: 50:1
- Regulations:FCA, DFSA, FSCA, FSA(Seychelles), CMA, and CySEC
- Trading platform:Mobile App, Web Trader, Meta Trader 5
- Account Types: 2, (Standard, Raw Spread)
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, ACH Payments (echeck)
- US Traders: Accepted
How to Fund Your Forex.com Account: A step by Step Guide
Step 1: Log in to Your Forex.com Account
To fund your Forex.com account, you’ll first need to create your Forex.com account or log in to your existing account. Open your preferred web browser and go to the official Forex.com website. Then visit the login section. You will find it in the Manubar. Enter your registered username and password in the provided fields and click on the “Log In” to access your account dashboard.
Step 2: Go to the Deposit Section
Once logged in, go to the deposit section within your Forex.com account. This section is typically located in the main menu or sidebar of the platform. Look for options labeled as “Deposit,” “Funding,” or similar terms. Click on this section to proceed to the next step.
Step 3: Choose Deposit Methods
In the deposit section, you’ll find available deposit methods for funding your Forex.com account. These methods may include direct Bitcoin deposit, Bitcoin via Instacoin, and wire transfer via Instacoin. Forex.com currently does not offer any other deposit methods other than Bitcoin.
Step 4: Enter Payment Details
Once you’ve selected your preferred deposit method, you’ll need to enter the relevant payment details to start the transaction. Depending on the chosen method, this could involve entering your Bitcoin wallet address for direct Bitcoin deposits, following instructions provided by Instacoin for Bitcoin transactions, or providing bank details for wire transfers via Instacoin. Ensure that you accurately enter all required information to prevent any delays or errors in the funding process.
Step 5: Complete Process
After entering the necessary payment details, carefully review the information to ensure accuracy. Once satisfied, proceed to complete the deposit process by following the instructions provided on the platform. This may involve confirming the transaction, verifying any security measures, and completing the deposit. Upon successful completion, the funds should be credited to your Forex.com trading account which allows you to start trading on the platform.
How to Withdraw Funds from Forex.com
To withdraw funds from Forex.com, follow these steps:
- Log in to your Forex.com account.
- Go to the “Withdraw Funds” or “Withdrawal” section.
- Select your preferred withdrawal method (e.g., Bitcoin, wire transfer).
- Enter the amount you wish to withdraw.
- Follow any additional on-screen instructions for your chosen withdrawal method.
- Confirm the withdrawal request.
- Wait for the withdrawal to be processed by Forex.com.
Frequently Asked Questions (FAQs)
What is Forex.com?
Founded in 2001, Forex.com is a leading online forex and CFD broker that provides access to a wide range of trading instruments. It is a well-established and regulated forex broker that offers MT4, MT5, and Tradingview platforms for US residents and traders from other countries. Forex.com is known for its competitive pricing, advanced trading technology, and comprehensive research and analysis tools. It offers over 80 currency pairs, stocks, ETFs, gold, and silver for your personal investment and trading options. Gain capital operates this trading platform.
What is the Maximum Deposit of Forex.com?
Forex.com does not have a maximum deposit limit. You may deposit as much as you want. However, your deposit methods might have transaction limits. For example, Paypal, Neteller, and Skrill have a max deposit limit of 50,000 of your base currency (USD, GBP, EUR)
What currency can I deposit into Forex.com?
Forex.com accepts multiple base currencies, including AUD, USD, GBP, and EUR. If your country’s base currency is not listed, you can convert and deposit funds in your preferred currency.
What is the maximum leverage of Forex.com?
The Maximum Leverage of Forex.com is 50:1. It means that you can trade up to 50 times the equivalent amount of base currency you have in your account.
How much does it cost to deposit in Forex.com?
Forex.com does not charge any fees for deposits made via any method. However, your card issuer or payment provider may or may not impose a small fee. If you convert your currency and make a deposit, conversion charges might be applicable
What is the Minimum trade size of Forex.com?
The Minimum trade size of Forex.com is 0.01. It is worth mentioning that a lot is a standard contract size in the currency market. It equals 100,000 units of a base currency, so 0.01 lots account for 1000 units of the base currency
What is the Maximum Trade size of Forex.com?
There is no maximum lot size limitation, except available liquidity, marginal requirements, and maximum instrument exposure.
How long does it take to deposit on Forex.com?
Forex.com deposits are usually instant. The broker accepts multiple deposit methods. However, the deposit turnaround time (TAT) may vary depending on the chosen payment methods.
- Visa debit/credit card: Immediate
- Mastercard debit/credit card: Immediate
- PayPal: Immediate
- Domestic bank transfer: Same day
- International Bank Transfer: 1-5 working days
Forex.com does not accept payments from third parties. The payment account holder must match the account holder’s name. For joint accounts, the Forex.com account must be opened in the name of any one of the joint account holders.
How much should I deposit in my Forex.com account?
You may deposit any amount you want. If you are a beginner, you may start with as little as $100 or less. As you gain knowledge, you may deposit your desired amount and start trading.
What trading platform does Forex.com use?
Forex.com uses MT4, MT5, WebTrader, Desktop Terminal, and TradingView trading platforms.
Final Verdict :
The minimum deposit at Forex.com is $100. This amount is high for traders, especially for beginners. Many beginners may be discouraged from trading with the broker due to this high minimum deposit. However, if you consider the broker’s regulations, reputation, and services, this minimum deposit might be worth it. If you are still looking to trade with a broker that has a lower minimum deposit, you may consider Forex.com, XM, Exness, etc
