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DMM FX Minimum Deposit

DMM FX Minimum Deposit

 

Overall Rating

4.3/5

Rated #370 of 
Recommended FX Brokers

💰Minimum Deposit

USD 200

🌐 Regulators

ASIC, FSA

📱 Trading Desk

MetaTrader 4 

Crypto

Yes

📈 Total Pairs

21

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

The DMM FX minimum deposit amount to open a real trading account is 200 (Two Hundred) US Dollars. The Minimum Deposit for 1st-time traders might vary based on the trading account type selected. Deposit activation can be up to 72 hours*

Finding a reputable list about DMM FX minimum deposit local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.

Below is an in-depth Minimum Deposit Review regarding this regulated Forex company, which will assist traders to make an informed decision, when it comes to funding your trading account.

 

Minimum Deposit

 

DMM FX has a minimum deposit requirement of $ 200.

This minimum deposit amount was equivalent to ZAR 3030 at the average currency exchange rate between the US Dollar and the South African Rand at the time of writing.

Depending on DMM FX’s authorization as a broker and its regulatory authorities, one of the requirements may be that client funds must be kept in segregated accounts from the broker account and could only be used by traders to conduct trading activities.

 

Deposit fees and deposit methods

 

When compared with other brokers, the minimum deposit that DMM FX requires when registering a live account is not too high.

DMM FX offers traders several payment or deposit methods which can be used when making deposits. Funds always must be returned in the same method used to deposit.

DMM FX accepts the following payment methods:

  • China UnionPay Cards
  • Skrill
  • Neteller
  • Fasapay
  • POLipay
  • Wire Transfers
  • BPAY

 

DMM FX does not levy additional fees, but third-party charges may be applicable. Usually, withdrawals take one to two business days but depending on bank services it may take several days longer for the money to be available in a customer’s bank account.

Deposit currencies that are accepted include USD AUD, EUR, GBP, NZD.

Traders must ensure that they verify whether their financial institution waives its own fees as there may be additional fees payable.

 

Overall Rating

4.3/5

Rated #370 of 
Recommended FX Brokers

💰Minimum Deposit

USD 200

🌐 Regulators

ASIC, FSA

📱 Trading Desk

MetaTrader 4 

Crypto

Yes

📈 Total Pairs

21

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Step by step guide to depositing the minimum amount

 

Traders can fund their accounts from their own bank account by sending the funds to one of the DMM FX segregated client accounts or access the option to deposit the minimum amount from their personal area after having registered a live trading account and it had been approved.

Traders must log in to their personal area, select the option for deposits, and follow the instructions to make a deposit into their trading account. Traders must ensure that they select the correct deposit currency before they make a deposit.

Funds must be transferred in the same currency as the bank account to which they are sending them to. Should this not be done, traders may be subjected to currency conversion fees.

 

Pros and Cons

✔️ PROS ❌ CONS
Many payment methods available No compensation scheme is available
MetaTrader platform available to traders No option to open an Islamic or swap-free account
No deposit fees or withdrawal fees charged Only one trading account available to traders
Regulated by Australian Securities and Investments Commission (ASIC) in Australia and the Financial Services Agency (FSA) in Japan.
The broker offers tight spreads

 

You might also like: DMM FX Sign-Up Bonus

You might also like: DMM FX Brokers Fees And Spreads 

You might also like: DMM FX Demo Account

You might also like: DMM FX Account types

 

FAQ’s

 

What is the minimum deposit required to open an account with DMM FX?

$ 200.

 

How do you make a deposit and withdraw money with DMM FX?

DMM FX offers the following deposit and withdrawal methods:

  • China UnionPay Cards
  • Skrill
  • Neteller
  • Fasapay
  • POLipay
  • Wire Transfers
  • BPAY

 

The same method that was used to fund an account must normally be used to withdraw money. Also, monies will usually only be refunded to accounts in the same name as the trading account.

 

Does DMM FX charge withdrawal fees?

Withdrawals to overseas bank accounts incur an AUD $20 bank handling fee.

Fees from financial institutions may also be applicable.

 

How long does it take to make a withdrawal?

Usually, withdrawals take one to two business days but depending on bank services it may take several days longer for the money to be available in a customer’s bank account.

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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