Fondex Minimum Deposit

 

 

 

A Fondex Minimum Deposit review

 

Fondex Minimum Deposit

 

The Fondex minimum deposit amount that Fondex requires is $0.

When opening a live trading account, there is no minimum deposit that has to be made in order to activate the account. Traders can deposit an amount which suits them to start trading on a live account.

When depositing funds into the trading account, traders need to take note of exchange rates between currencies, such as USD/ZAR where $1 is equivalent to ZAR18.51 or €0.20/£0.83

Traders should note that conversion of currencies that has been done is at the current exchange rate between US Dollar and South African Rand, Euro and Great British Pound on the day that this article was written.

Fondex is a Cyprus-based broker which is authorized and regulated by one of the strictest and most demanding regulating entities namely CySEC, 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.

In addition to ensuring client fund security through segregated accounts, regulated brokers such as Fondex are required to be a member of a compensation scheme or fund which pays out a certain amount to eligible clients in the case of company insolvency.

 

Deposit fees and deposit methods

 

Fondex does not charge any deposit fees regardless of the method of funding and the following payment methods are supported:

  • Credit/Debit Cards
  • Bank Wire Transfer
  • Bitcoin Wallet

 

Fondex does not support a wide variety of deposit currencies and these in turn are linked to certain payment methods such as:

  • Credit/Debit Card – USD, EUR, GBP
  • Bank Wire Transfer – EUR
  • Bitcoin Wallet – Bitcoin

 

Step by step guide to deposit the minimum amount

 

Once the trader has completed the process of registering and activating their live account, the trader can make an initial minimum deposit of their choosing by following these steps:

  1. Choose a payment methods and click the ‘Deposit’ button which is located next to the trader’s preferred payment method.
  2. The trader will then be redirected to the Fondex cTrader web and the deposit window.
  3. The trader will be required to enter their details in order to complete their deposit.

 

Pros and Cons

 

PROS CONS
1.      Deposit fees are not charged 1.      Only three payment methods provided
2.      Withdrawal fees are not charged on any payment methods with the exception to 0.9% for Bank Wire withdrawals less than EUR 1000 2.      Only four deposit currencies supported
3.      Payment methods supported are exceptionally reliable

 

FAQ

 

What is the minimum deposit for Fondex?

$0.

 

How do I make a deposit and withdrawal with Fondex?

You can make use of the following payment methods to deposit or withdraw funds:

  • Credit/Debit Cards
  • Bank Wire Transfer
  • Bitcoin Wallet

 

Does Fondex charge withdrawal fees?

  • No.As long as traders who use Bank Wire Transfer withdraw more than EUR 1000, otherwise there is an applicable 0.9% fee.

 

How long does it take to make a withdrawal?

  • Credit/Debit Cards – instant
  • Bank Wire Transfer – between one to five working days
  • Bitcoin Wallet – instant