FXCC Minimum Deposit
FXCC Minimum Deposit
The FXCC minimum deposit amount that FXCC requires is $100.
The minimum deposit of $100 when registering a live account is equivalent to ZAR1,852.93 at the current exchange rate between US Dollar and South African Rand on the day that this article was written.
FXCC is a Cyprus-based broker which is authorized and regulated by a strict and demanding regulating entity 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 FXCC 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
FXCC does not charge any deposit fees when traders deposit the minimum deposit amount.
Traders will need to verify with their payment providers in case they waive any additional fees when transactions are made through the various payment methods supported by FXCC.
FXCC only supports three deposit currencies in which traders can fund their accounts, namely:
Step by step guide to deposit the minimum amount
Once the trader has completed the process of registering on the website along with registering for the demo account, the trader will need to verify their email address and then wait for their credentials/password to be emailed to them.
Once the trader’s account has been verified, the trader can log into their Client Portal and follow these steps:
- Select ‘Deposit’ on the Client Portal and select the preferred payment method along with the deposit currency in which the minimum deposit will be made.
- Traders can then follow the prompts as they appear to complete the deposit.
Pros and Cons
|1. Deposit fees are not charged||1. None noted|
|2. Minimum deposit amount is average on the entry-level account|
|3. Variety of payment methods supported|
What is the minimum deposit for FXCC?
This will depend on the account that the trader uses and minimum deposit between accounts ranges from $100-$100,000.
How do I make a deposit and withdrawal with FXCC?
You can make use of a wide variety of supported payment methods, including, but not limited to:
- Credit/Debit Cards
- Bank Wire Transfer
- Union Pay
- Various e-wallets, and several others.
Does FXCC charge withdrawal fees?
Deposit/Withdrawal fees are covered by FXCC.
How long does it take to make a withdrawal?
- Credit/Debit Cards – 5 to 10 working days
- Bank Wire Transfer – 5 to 7 working days
- Union Pay – 2 to 5 working days
- E-wallets including Neteller and Skrill – Instant
- Moneta ru, Yandex and Neosurf – Instant
- Other payment methods such as PSE, efecty, BCP, Pago Efectivo and others take up to 7 working days.
July 8, 2020