Forex.com Minimum Deposit Editor’s Verdict
The Forex.com minimum deposit is $100 for both its commission-free and commission-based accounts, but Forex.com recommends deposits of at least $1,000 and $2,500, respectively. Forex.com also offers an STP Pro account, where Forex.com notes a recommended minimum deposit of $25,000.
The Forex.com account types and minimum deposit requirements are:
- Standard (Forex.com minimum deposit of $100, market maker account)
- Commission (Forex.com minimum deposit of $100, ECN account)
- STP Pro (Forex.com recommended deposit of $25,000, STP account)
Minimum Deposit for Forex.com vs. Other Brokers
MinimumDeposit | Forex.com | Axi | InstaForex | Tickmill | Admirals |
|---|---|---|---|---|---|
Commission-Free | $100 | $0 | $1 | $100 | $100 |
Commission-Based | $100 | $0 | $1 | $100 | $100 |
The Forex.com minimum deposit is $100, which is quite typical in the industry, and it offers both its account types and pricing environments for the same minimum deposit amount. The STP Pro alternative has the lowest trading costs.
Not all accounts are available to all traders, as availability depends upon geographic location. All operating subsidiaries offer the commission-free Standard account option. The Active Trader Program lowers trading costs by up to 15%, available on all account types.
Pros & Cons of the Forex.com Minimum Deposit
Pros of the Forex.com minimum deposit | Cons of the Forex.com minimum deposit |
|---|---|
Regulated Forex broker | Cryptocurrency deposits are not supported |
No internal deposit fees, only third-party payment processor costs | Limited deposit methods, restricted by geographic location |
Fast processing times on methods other than bank wires | |
Segregated client deposits from corporate funds at Tier 1 banks |
Forex.com Deposit Methods and Deposit Fees
Deposits at Forex.com remain free of internal costs, but traders may face third-party payment processor charges. A trader making a $100 deposit at the broker Forex.com will receive $100 in their trading account.
Forex.com deploys a deposit method environment heavily dependent on the operating subsidiary and client geographic location. Some traders may only deposit using bank wires or credit/debit cards, while others can use e-wallet services.
Forex traders should opt for the payment processor with the lowest transaction fees, and check the withdrawal process, as each withdrawal must follow the deposit path up to the deposit amount, with the excess amount processed via wire transfers.
The minimum and maximum deposit amounts, processing times, and fees vary between payment processors.
Forex.com Deposit Methods vs. Similar Brokers
DepositMethods | Forex.com | Axi | InstaForex | Tickmill | Admirals |
|---|---|---|---|---|---|
Bank wires | Yes | Yes | Yes | Yes | Yes |
Credit/debitcards | Yes | Yes | Yes | Yes | Yes |
Skrill | Yes | Yes | Yes | Yes | Yes |
WebMoney | No | No | Yes | Yes | No |
ChinaUnionPay | No | Yes | No | Yes | No |
PerfectMoney | No | No | Yes | No | No |
OtherE-wallets | Yes | Yes | Yes | Yes | Yes |
LocalizedMethods | No | Yes | Yes | No | No |
Crypto-currencies | No | Yes | Yes | No | No |
Noteworthy:
- Forex.com notes processing times for e-wallets as up to 30 minutes
- Credit card transactions take between one and two business days
- Bank wires can take between two to three business days
Forex.com Deposit Currencies
Forex.com only allows deposit currencies matching the account base currency, as confirmed by two customer support representatives. Many Forex brokers support more deposit currencies than account currencies, offering greater flexibility to their global client base. An account currency is the one where all trades settle. A deposit currency is the one traders can use to deposit into their trading accounts, supported by various payment processors, where a currency conversion fee may apply.
Forex.com supports the following account base currencies:
- US Dollar
- Euro
- British Pound
- Swiss Franc
- Polish Zloty
- Hungarian Forint
Forex.com supports the following deposit currencies:
- US Dollar
- Euro
- British Pound
- Swiss Franc
- Polish Zloty
- Hungarian Forint
A US Dollar account is the most suitable option for most traders, as the US Dollar is part of over 85% of all daily Forex trading volume. Forex.com restricts US-based traders to US Dollar accounts, while traders with its European subsidiaries have more choices.Traders can lower currency conversion fees by opening a multi-currency account with an online or brick-and-mortar bank, where transaction and conversion costs plus exchange rates are usually notably better versus online payment processors. It allows traders to ensure their deposit and account currencies match, as required by Forex.com.
Forex.com Trading Account Currencies vs. Similar Brokers
AccountCurrencies | Forex.com | Axi | InstaForex | Tickmill | Admirals |
|---|---|---|---|---|---|
US Dollar | Yes | Yes | Yes | Yes | Yes |
Euro | Yes | Yes | Yes | Yes | Yes |
British Pound | Yes | Yes | No | Yes | Yes |
Swiss Franc | Yes | Yes | No | No | Yes |
AustralianDollar | No | Yes | No | No | No |
Others | Yes | Yes | Yes | No | Yes |
Total | 6 | 10 | 3 | 3 | 10 |
A Steps by step guide to deposit money on Forex.com account
Traders can send the Forex.com minimum deposit from their secure back office once they verify their trading account, a mandatory step to pass regulatory stipulated AML/KYC requirements. Sending a copy of their government-issued ID and one proof of residency document will pass the verification process for most Forex traders. Only verified trading accounts may request withdrawals.
How Forex traders can send their Forex.com minimum deposit:
1. Completing the online registration form grants access to the secure back office. Forex.com asks traders for their country of residency, e-mail address, desired username, and password, title, first and last name, date of birth, valid phone number, and account base currency. The Euro, the British Pound, and the US Dollar are the default options, while the other three account currencies are available after sending a request to customer support.
2. Uploading a copy of a government-issued ID and one proof of residency document will pass account verification in most cases and is a mandatory step.
3. Logging in to the verified trading account, and navigating to the deposit tab, will list available deposit methods. Traders must select their desired deposit option and fill out the amount they wish to deposit. Depending on the payment processor, traders could be redirected to the website of the third-party payment processors, requiring a log-in and confirmation of the deposit.
4. Forex.com notes it processes most online payment processor deposits within 30 minutes. Credit/debit cards and bank wires can take up to three business days. Traders will receive an e-mail from Forex.com confirming the deposit, which will also show in the payment history of the used payment processor.
How Does the Minimum Deposit Work?
The minimum deposit ensures that client transactions yield sufficient broker revenues to maintain services. Each financial services institution and provided accounts have a minimum deposit requirement, and so does Forex.com. Unlike many brokers, the Forex.com minimum deposit is $100 for all its trading accounts, while the recommended minimums are $1,000 for Standard, $2,500 for Commission, and $25,000 for STP Pro, where the minimum transaction size is 100,000K.
The most basic trading services and higher trading costs are usually available with lower minimum deposit requirements. A lower price structure and innovative features exist with higher capital commitments, and Forex.com is no exception.
Due to intense competition across the global brokerage sectors, minimum deposit requirements decreased, ensuring accessibility and flexibility to an expanding client base. Some brokers rely solely on their trading environment to deliver a competitive edge, increase revenues via scale and offer trading accounts with no minimum deposit requirement.
FAQs
What are Forex.com's fees?
The fees depend on the trading account and range between $7.00 and $14.00 for major currency pairs. The Active trader program can lower trading costs by up to 15%.
How do you withdraw from Forex.com?
Traders can withdraw from Forex.com by sending a withdrawal request via the secure back office.
What are Forex.com's deposit currencies?
The accepted deposit currencies at Forex.com are the US Dollar, the Euro, the British Pound, the Swiss Franc, the Polish Zloty, and Hungarian Forint.
What is the minimum deposit at Forex.com?
The minimum deposit at Forex.com is $100.
Does Forex.com have an instant deposit?
Forex.com notes instant deposits, identified as immediate under its FAQ section covering deposits for e-wallet and credit/debit card transactions.
How long does it take to deposit at Forex.com?
Forex.com notes deposit times for e-wallets and credit/debit cards as instant. Bank wires can take up to two business days.
Does Forex.com offer a no-deposit bonus?
Forex.com does not offer a no-deposit bonus, but traders may qualify for a deposit bonus, depending on their geographic location and operating subsidiary.
What are the deposit methods at Forex.com?
Forex.com supports bank wires, credit/debit cards, Skrill, and Neteller as deposit methods.