Baxter FX Minimum Deposit
Baxter FX Minimum Deposit
The Baxter FX minimum deposit amount that is required is $50,000.
The minimum deposit amount of $50,000 when registering a live account is equivalent to ZAR 924,470.00 at the current exchange rate between US Dollar and South African Rand on the day that this article was written.
Baxter FX is an Australian-based broker which is authorized and regulated by one of the strictest and most demanding regulating entities namely the ASIC, and as a regulated broker, one of the requirements is that client funds be kept in segregated accounts.
In complying with this, amidst several other strict rules and regulations, all client funds must be kept separate from the broker account, and it can only be used by traders to conduct trading activities.
In addition to ensuring client fund security through segregated accounts, regulated brokers such as Baxter FX are required to be a member of a compensation scheme or fund which pays out a certain amount to eligible clients in the case of company insolvency.
Deposit fees and deposit methods
Baxter FX does mention whether deposit fees are charged when traders fund their trading account and the only method through which traders can fund their accounts is by making use of Bank Wire Transfers due to the large minimum deposit sum.
Baxter FX supports a variety of deposit currencies in which traders can fund their accounts including:
- GBP, and
Step by step guide to deposit the minimum amount
Once the trader has completed the process of registering on the website, the trader can make the initial minimum deposit by making use of Bank Wire Transfer.
The Baxter FX website does not provide any guidelines as to how funds can be deposited or withdrawn from a trading account and the existing FAQ section on the website does not contain any further information.
Traders should take note that with making deposits by using Bank Wire Transfer, the transactions may take a certain amount of time depending on the method, time of the day, and day of the week.
Bank Wire Transfers take anything from a day to a few business days depending on the time the payment was made during the day along with the day of the week.
Pros and Cons
|1. Deposit fees are not charged||1. Only one payment method accepted|
|2. Bank Wire Transfer is a trusted method of payment|
What is the minimum deposit for Baxter FX?
How do I make a deposit and withdrawal with Baxter FX?
Baxter FX only offers traders with the option of using Bank Wire Transfer when making funding the trading account and when withdrawing funds from the account.
Baxter FX prohibits third party payments. Deposits and withdrawals must be to and from the same account that the trader registers when opening a live account.
Does Baxter FX charge withdrawal fees?
The Baxter FX website does not indicate whether withdrawal fees are charged.
How long does it take to make a withdrawal?
Bank Wire Transfer can take anything from 1 to 7 business days.