The Finspreads minimum deposit amount to open a real trading account is 50 (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 Finspreads 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.
Finspreads has a minimum deposit requirement of $ 50.
This minimum deposit amount is equivalent to ZAR749.17 at the current exchange rate between the US Dollar and the South African Rand at the time of writing.
Finspreads is a broker that is authorized and regulated by strict regulatory entities namely 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.
Deposit fees and deposit methods
When compared with other brokers, the minimum deposit that Finspreads requires when registering a live account is exceptionally low.
Finspreads offers traders the following payment methods which can be used when making deposits:
- Direct Bank Transfer
- Debit Cards – Visa, MasterCard, Electron, and Maestro
- Credit Cards – Visa and MasterCard
Deposit currencies that are accepted include:
Although there are no charges on deposits made into the trader’s account applicable to payment options, there is however a 1.5% processing fee when using a credit card to make a deposit.
Traders must ensure that they verify whether their financial institution waives its own fees as there may be additional fees payable. These often depend on the payment method used as well as the amount which is deposited into the trading account.
Step by step guide to depositing the minimum amount
When funding the trading account, traders can do it from their own bank account by sending the funds to one of the Finspreads segregated client accounts.
Traders can also access the option to deposit the minimum amount from their personal area after having registered a live trading account which has, subsequently, been approved.
Traders must log in to their personal area, click on the ‘Account’ tab on the top-right corner of the trading platform and then select the option for ‘Fund Your Account.
Three links will appear:
- Fund your account
- Add a card to your account
- Remove a card from your account
Select the applicable link 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|
|Low minimum deposit requirement||Account base currencies are limited|
|Reliable payment methods offered||Limited payment methods offered|
|No deposit fees charged on credit or debit cards||Currency conversion fees may apply|
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What is the minimum deposit for Finspreads?
How do I make a deposit and withdrawal with Finspreads?
- Direct Bank Transfer
- Credit cards
- Debit cards
Does Finspreads charge withdrawal fees?
No. But depending on the payment method used there might be fees applicable from the financial provider used.
How long does it take to make a withdrawal?
This will depend on the payment method used. It is not clear how long withdrawals take with Finspreads.