The KAB minimum deposit amount to open a real trading account is 100 (one hundred) US Dollar. The Minimum Deposit for 1st-time traders might vary based on the trading account type selected. Deposit activation can be up to 72 hours
The minimum deposit amount of US Dollar 100 when registering a live account is equivalent to ZAR1,758.83 at the current exchange rate between the US Dollar and South African Rand on the day that this article was written.
They are 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.
Despite this, all deposits are made into the broker account after the necessary conversion has been made into the corresponding base currencies that they support. The funds are kept in segregated accounts separate from the account of the broker.
They also form part of an Investor Compensation Fund that pays out a certain amount to eligible traders in the unlikely chance that the broker becomes bankrupted or insolvent. KAB additionally also offers negative balance protection to its clients.
Deposit fees and deposit methods
They do not charge any fees when deposits are made into the trader’s account and traders can use the following payment methods when depositing the minimum deposit amount:
- Bank Wire Transfer
They accept other deposit currencies but at a fixed exchange rate of 1 USD/7.78 HKD.
Traders should take note that payments made in any other currency apart from the base currencies of the various accounts may be subjected to conversion rates charged by their payment provider. The base currencies are USD, EUR, and GBP.
Step by step guide to depositing the minimum amount
Once the trader has completed the process of registering on the website, the trader can make the initial minimum deposit by following these steps:
- Log in to the Client Portal and select ‘Deposit’
- Select the deposit method along with the amount.
- After the trader has made their selection, they will be redirected to the payment processor page to confirm their deposit.
Traders should take note that with making deposits by using Bank Wire Transfer, the transactions may take a certain amount of time depending on the method, time of the day, any day of the week.
Bank Wire Transfers take anything from a day to a few business days depending on the time the payment was made during the day along with the day of the week.
Pros and Cons
|Deposit fees are not charged||Only two deposit payment methods|
|Conversion fees are charged|
You might also like: KAB Sign Up Bonus
You might also like: KAB Demo Account
You might also like: KAB Fees and Spreads
You might also like: KAB Islamic Account
You might also like: KAB Account Types
What is the minimum deposit for KAB?
US Dollar 100.
How do I make a deposit and withdrawal with KAB?
You can make use of the following payment methods to deposit or withdraw funds:
- Bank Wire Transfer
Does KAB charge withdrawal fees?
Yes, but it is not specified as to which withdrawal methods will have applicable withdrawal fees.
How long does it take to make a withdrawal?
- Bank Wire Transfer – between two to several business days
- UnionPay – between one to a few business days.