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Financial Spreads Minimum Deposit

Financial Spreads Minimum Deposit

 

Overall Rating

4.7/5

Rated #– of 
Recommended FX Brokers

💰Minimum Deposit

USD 250

🌐 Regulators

FCA

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

30

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

The Financial Spreads minimum deposit amount to open a real trading account is 250 (Two Hundred and Fifty) 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 Financial Spreads 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

 

The minimum deposit amount required to open a broker account with Financial Spreads is GBP 250, which is an industry-standard minimum deposit amount amongst most brokers in the industry today.

 

Deposit fees and deposit methods

 

Financial Spreads offers deposits and withdrawals via bank transfer, credit/debit cards, and online payments, although the broker does not indicate which online payment processors are supported.

Added to this, the broker does not provide any information regarding deposit fees and withdrawal fees, which is concerning, as such fees represent valuable information for traders wishing to understand the broker’s overall cost structure.

As for the accepted deposit currencies, unfortunately, the broker has an extremely limited selection, which consists of GBP, USD, and EUR only. Those depositing in smaller currencies, such as ZAR/Rand, may incur conversion fees.

This is unfortunate, as conversion fees can become costly over time, and eat into traders’ withdrawable profit over time.

Financial Spreads is well regulated by the UK’s Financial Conduct Authority (FCA), which provides an elevated level of deposit security.

As such, deposits made by private individuals and small businesses to any authorized firms are protected by the Financial Services Compensation Scheme, FSCS. Therefore, each individual client could make a claim up to £85,000, i.e., the FSCS deposit compensation limit.

In the extremely unlikely event that this FCA-regulated firm was to go into liquidation and there was a deficiency in the client money bank accounts, individual clients could make a claim up to £50,000, i.e., the FSCS investment compensation limit.

Furthermore, under the requirements of the FCA, all funds are held in segregated accounts with top-tier banks to avoid any financial misappropriation.

 

Step by step guide to depositing the minimum amount

 

Funding your account with Financial Spreads is a very simple process which consists of the following steps:

  • Navigate to the account section on the broker’s website
  • Log into your account
  • Click on “make a deposit”
  • Select your preferred deposit method

 

Pros and Cons

✔️ PROS ❌ CONS
Acceptable minimum deposit Limited information regarding available online deposit methods
A limited number of deposit currencies
Little information regarding deposit fees and withdrawal fees

 

You might also like: Financial Spreads Sign up Bonus

You might also like: Financial Spreads Demo Account

You might also like: Financial Spreads Fees and Spreads

You might also like: Financial Spreads Account types

 

FAQ’s

 

What is the minimum deposit for Financial Spreads?

The minimum deposit amount required to open a broker account with Financial Spreads is GBP 250, which is a standard minimum deposit amount amongst most brokers in the industry today.

 

How do I make a deposit and withdrawal with Financial Spreads?

Financial Spreads offers deposits and withdrawals via bank transfer, credit/debit cards and online payments, although the broker does not indicate which online payment processors are supported.

 

Do Financial Spreads charge withdrawal fees?

The broker does not provide any information regarding deposit fees and withdrawal fees, which is concerning, as such fees represent valuable information for traders wishing to understand the broker’s overall cost structure.

 

How long does it take to make a withdrawal?

Bank wire transfers can take up to three working days, depending on the bank and your location, while most online payments can take up to 10 minutes.

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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