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MFX Broker Inc Minimum Deposit

MFX Broker Inc Minimum Deposit

Overall Rating

4.7/5

Rated #254 of
Recommended FX Brokers

💰Minimum Deposit

USD 500

🌐 Regulators

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

28

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

The MFX Broker Inc Minimum Deposit amount to open a real trading account is 1 (one) 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

This minimum deposit amount is equivalent to ZAR 15 at the current average exchange rate between the US Dollar and the South African Rand.

They do not regulated by strict regulatory entities, only by the Financial Services Commission (IFSC) of Belize, and offshore brokers often don’t require high minimum deposits for accounts.

The broker claims that it keeps client funds 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 they require when registering a live account is very low.

They require the following minimum deposits and account sizes for its different accounts:

A Micro Account can be opened with only $1, or ZAR 16.

A Standard Account can be opened with a minimum amount of $5 or ZAR 76.

An ECN Account can be opened with a deposit of $ 500 or ZAR 7610 and the minimum size of the CFD Account is also $ 500.

They offer traders the following payment methods which can be used when making deposits:

  • CONTACT,
  • Credit or debit cards,
  • DIXIPAY,
  • EgoPay,
  • FasaPay,
  • Liqpay,
  • MoneyGram,
  • OKPAY,
  • QIWI,
  • RBK Money,
  • UnionPay,
  • WebMoney,
  • Western Union,
  • Wire transfer and
  • Yandex Money

 

Deposit currencies that are accepted include:

  • EUR
  • USD
  • RUB

 

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 deposit the minimum amount

When funding the trading account, traders can do it from their own bank account by sending the funds to one of their 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 into their personal area, select the option for deposits, 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 which they are sending it to. Should this not be done, traders may be subjected to currency conversion fees.

 

Overall Rating

4.7/5

Rated #254 of
Recommended FX Brokers

💰Minimum Deposit

USD 500

🌐 Regulators

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

28

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Pros and Cons

✔️PROS ❌CONS
Low minimum deposit requirement Account base currencies are limited
Reliable payment methods offered Currency conversion fees may apply

 

You might also like: MFX Broker Inc Sign up bonus

You might also like: MFX Broker Inc Demo account

You might also like: MFX Broker Inc Fees and Spreads

You might also like: MFX Broker Inc Account Types

You might also like: MFX Broker Inc Islamic Account

 

FAQ

DEPOSITS AND WITHDRAWALS

What is the minimum deposit required to open an account with MFX BROKER INC?

$ 1

How do you make a deposit and withdraw money with MFX BROKER INC?

They offer the following deposit and withdrawal methods:

  • CONTACT,
  • Credit or debit cards,
  • DIXIPAY,
  • EgoPay,
  • FasaPay,
  • Liqpay,
  • MoneyGram,
  • OKPAY,
  • QIWI,
  • RBK Money,
  • UnionPay,
  • WebMoney,
  • Western Union,
  • Wire transfer and
  • Yandex Money

Does MFX BROKER INC charge withdrawal fees?

Fees from financial institutions may be applicable.

How long does it take to make a withdrawal?

Depending on bank services it may take several days longer for the money to be available in a customer’s bank account.

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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