FXCM is a well-regulated broker that provides an average number of financial instruments compared to other brokers, including Forex, Commodities, Indices, Stock CFDs, and Cryptocurrencies. FXCM can attract large traders who value multiple platforms and some advanced trading tools. However, fixed leverage, high transaction fees, high exchange rates, and high-interest rates on negative balance accounts may be a turn-off for some traders. This article will deliver the details regarding FXCM Minimum deposit South Africa, so keep reading!
As a trader, FXCM provides trading in a variety of assets including currencies, cryptocurrencies, indices, commodities, stock baskets, and stock baskets. FXCM is compatible with MT4, Ninjatrader, Trading Station platform and Zulutrade to support all business plans including coverage, editing, and scanning. FXCM also provides free Islamic accounts.
How to open an account at FXCM?
- Click the “Open Account” button on the main page.
- Traders must choose their country of residence and place of work.
- Traders are then directed to FXCM’s secure servers and fill out an online form. To do this, you will need to choose your name, email address, desired currency and other information.
- The next step is to create a password and accept FXCM’s Terms of Service.
- Finally, buyers must upload documents proving their identity and place of residence.
- The process for opening an FXCM account is usually completely digital, but it may take longer for the support staff to verify your account.
What is FXCM minimum deposit?
The minimum deposit required to open an account with FXCM is $300, which also varies by region. This is not the lowest investment in the industry, but it can be considered standard in every sense. However, the minimum investment amount depends on the region, for example, a South African resident can open an account for as little as $50. Active trading accounts are designed for expert traders with a minimum investment of US $25,000 or a similar currency.
FXCM deposit method
FXCM only offers a limited set of payment methods, including the following:
- Bank or credit card payments
- Bank wire funding
Sellers should remember when applying for a debit/credit card withdrawal that they can only withdraw the entire amount deposited into the account. Larger amounts must be withdrawn by another method, such as bank transfer.
FXCM deposit fees
FXCM does not charge for incomplete deposit processes. However, the bank may incur intermediate wire transfer fees. FXCM supports major investment currencies such as US Dollar, Pound Sterling, and Euro, but does not support some currencies. However, FXCM has regional broker platforms that can accept minor currencies.
For example, FXCM South Africa operates South African Rand / South African Rand accounts. Retailers should contact customer service to find out which local accounts are supported.
How to deposit the minimum account?
Making a minimum deposit in FXCM is a simple process that includes the following steps:
- Log in to MyFXCM using your account username and password.
- Click on deposit funds.
- They have a payment gateway for customers who filled out an online form but did not receive an account username. After processing the first deposit, a username will be provided.