FXOpen Minimum Deposit

 

A FXOpen Minimum Deposit review

 

FXOpen Minimum Deposit

 

The FXOpen minimum deposit amount that FXOpen requires is $1.

The minimum deposit amount of $1 when registering a live account is equivalent to ZAR18.51 at the current exchange rate between US Dollar and South African Rand on the day that this article was written.

The minimum deposit amount will depend on the type of account that the trader opens, and it ranges from $1 – $100.

FXOpen is a UK-based broker which is authorized and regulated by one of the strictest and most demanding regulating entities namely the FCA, 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 FXOpen 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

 

FXOpen does not charge deposit fees when traders fund their trading account and traders can use any of the following deposit methods which includes, but is not limited to:

  • Bank Wire Transfer
  • Walao! Pay
  • Local Wire Transfers (or Skrill)
  • Local Deposits
  • Alfa-Click
  • China UnionPay
  • Credit/Debit Cards, and several others.

 

FXOpen supports a variety of deposit currencies in which traders can fund their accounts including:

Base deposit currencies including USD, EUR, GBP, AUD, CHF, JPY, and RUB

 

The deposit currencies available will depend on the payment method used, other deposit currencies also include:

  • MYR
  • THB
  • IDR
  • VND
  • CNY

 

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 using these steps:

  1. Log into the Client Portal and select either one of the supported payment methods in the ‘Add Funds’ menu.
  2. Complete the form with the amount that the trader would like to deposit, in this case the minimum deposit amount, along with currency, trading account number and then click on ‘Add Funds’.
  3. The trader will then be redirected to the gateway of the chosen preferred payment method to complete the transaction.

 

Pros and Cons

 

PROS CONS
1.      Deposit fees are not charged 1.      None Noted
2.      Various deposit currencies supported  
3.      A wide variety of payment methods supported  

 

FAQ

 

What is the minimum deposit for FXOpen?

$1.

 

How do I make a deposit and withdrawal with FXOpen?

  • Bank Wire Transfer
  • Walao! Pay
  • Local Wire Transfers (or Skrill)
  • Local Deposits
  • Alfa-Click
  • China UnionPay
  • Credit/Debit Cards, and several others.

 

Does FXOpen charge withdrawal fees?

Yes.

  • Bank Wire Transfer – From 15 EUR, 45 USD, 1,500 RUB, 35 GBP, 45 CHF/ 65 AUD/ 5,000 JPY.
  • Walao! Pay – 2% or a minimum TBH 20 for Thailand, 2% or minimum MYR for Malaysia, 2% or IDR 5,000 for Indonesia, 2% or VND 10,000 for Vietnam.
  • Local Bank Transfers via Skrill – 1% or maximum $0.68.
  • PayPaid – 2%
  • Credit/Debit Cards – 2.5% or USD/EUR 3.5 and RUB 50.
  • China UnionPay – 3.5% but not less than 3 CNY (RMB).
  • WebMoney – USD/EUR 0.8% or maximum $50/€
  • Perfect Money – 0.5%
  • QIWI Wallet – 1% for RUB and USD
  • Yandex Money – 1%
  • FasaPay – 0.5% minimum $0.1 or 100 IDR

 

How long does it take to make a withdrawal?

  • Bank Wire Transfer – one to three business days
  • Walao! Pay, PayPaid, Credit/Debit Cards, China UnionPay, and all e-Wallets – during one business day.
  • Local Withdrawal – up to three bank business days.

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