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TeraFX Minimum Deposit

TeraFx Minimum Deposits

 

Overall Rating

4.7/5

Rated #61 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FCA

📱 Trading Desk

MT4

Crypto

Yes

📈 Total Pairs

59

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

The TeraFX minimum deposit amount to open a real trading account is 100 (one hundred) 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

The minimum deposit amount of US Dollar 100 when registering a live account is equivalent to ZAR1761.36 at the current exchange rate between US Dollar and South African Rand on the day and at the time that this article was written.

They are a UK-based broker and is authorized and regulated by one of the strictest and most demanding regulating 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.

In addition to ensuring client fund security through segregated accounts, regulated brokers such as TeraFX 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

 

They do not charge any fees when deposits are made into the trader’s account. Traders can make use of the following payment methods through which the minimum deposit amount can be paid:

  • Bank Wire Transfer
  • Credit/Debit Cards
  • Skrill
  • Neteller
  • Sofort
  • UnionPay

 

They support the following deposit currencies in which traders can fund their accounts including:

  • USD
  • GBP
  • EUR, and
  • PLN

 

Traders should note that PLN is not supported with E-Wallet payments, it can only be used when making Credit/Debit card transfers in addition to only being accepted when Citibank is used with Bank Wire Transfer.

 

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:

  1. Log in to the Client Portal and select ‘Deposit’
  2. Select the deposit method along with the amount.
  3. After the trader has made their selection, they will be redirected to the payment processor page to confirm their deposit.

 

Overall Rating

4.7/5

Rated #61 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FCA

📱 Trading Desk

MT4

Crypto

Yes

📈 Total Pairs

59

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Pros and Cons

✔️PROS ❌CONS
Quick and easy depositing of funds Limited amount of deposit currencies offered
Reliable payment options provided
Low minimum deposit
Deposit and withdrawal fees are not charged

 

You might also like: TeraFX Sign Up Bonus

You might also like: TeraFX Demo Account

You might also like: TeraFX Fees and Spreads

You might also like: TeraFX Account Types

 

FAQs

 

What is the minimum deposit for TeraFX?

US Dollar 100

 

How do I make a deposit and withdrawal with TeraFX?

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

  • Bank Wire Transfer
  • Credit/Debit Cards
  • Skrill
  • Neteller
  • Sofort
  • UnionPay

 

Does TeraFX charge withdrawal fees?

No.

Withdrawal fees are not charged, but traders will have to verify whether additional fees are waived by their banking institutions when depositing or withdrawing funds to their bank account.

 

How long does it take to make a withdrawal?

  • Bank Wire Transfer – between one to five business days
  • Credit/Debit Cards – two to five business days
  • Skrill – one to three business days
  • Neteller – one to three business days
  • Sofort – one to three business days
  • UnionPay – one to three business days

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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