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TurboForex Minimum Deposit

TurboForex Minimum Deposit

 

Overall Rating

4.4/5

Rated #556 of 
Recommended FX Brokers

💰Minimum Deposit

USD 250

🌐 Regulators

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

18

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

The TurboForex minimum deposit amount to open a real trading account is 10 (Ten) 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*

Finding a reputable list about TurboForex minimum deposit local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.

Below is an in-depth Minimum Deposit Review regarding this regulated Forex company, which will assist traders to make an informed decision, when it comes to funding your trading account.

 

Minimum Deposit

 

TurboForex has a minimum deposit requirement of $ 10 to open a Mini Account. The minimum amount required as an opening deposit for a Standard Account is $100.

This minimum deposit amount was equivalent to ZAR 150 and ZAR 1500 respectively, at the average currency exchange rate between the US Dollar and the South African Rand at the time of writing.

The Premium Account and the Fixed Account both require a minimum opening deposit of $1 000 and the minimum deposit to open an Interbank Account would be $5 000.

Depending on TurboForex’s authorization as a broker and its regulatory authorities, one of the requirements may be that client funds must be kept in segregated accounts from the broker account and could only be used by traders to conduct trading activities.

 

Deposit fees and deposit methods

 

When compared with other brokers, the minimum deposit that TurboForex requires when registering a live account is fair.

TurboForex offers traders several payment or deposit methods which can be used when making deposits. Funds always must be returned in the same method used to deposit.

TurboForex accepts the following payment methods:

  • Bank Transfer
  • Visa and MasterCard
  • Skrill
  • Neteller
  • Sofort
  • WebMoney

 

TurboForex does not levy additional fees, but third-party charges may be applicable. Processing times are not clearly indicated.

Any deposit currencies are accepted and will be automatically converted to the currency originally chosen when the account was opened.

Traders must ensure that they verify whether their financial institution waives its own fees as there may be additional fees payable.

 

Overall Rating

4.4/5

Rated #556 of 
Recommended FX Brokers

💰Minimum Deposit

USD 250

🌐 Regulators

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

18

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Step by step guide to depositing the minimum amount

 

Traders can fund their accounts from their own bank account by sending the funds to one of the TurboForex segregated client accounts or access the option to deposit the minimum amount from their personal area after having registered a live trading account and it had been approved.

Traders must log in to 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 to which they are sending them to. Should this not be done, traders may be subjected to currency conversion fees.

 

Pros and Cons

✔️ PROS ❌ CONS
Any currency can be used for funding accounts Contradictory information on the website
Low minimum deposit for mini account No Islamic Account available
No deposit fees or withdrawal fees Not properly regulated
Several account options
Several deposit methods can be used

 

You might also like: TurboForex Sign up Bonus

You might also like: TurboForex Demo Account

You might also like: TurboForex Fees and Spreads

You might also like: TurboForex Account types

 

FAQ’s

 

What is the minimum deposit required to open an account with TurboForex?

$ 10.

 

How do you make a deposit and withdraw money with TurboForex?

TurboForex offers the following deposit and withdrawal methods:

  • Bank Transfer
  • Visa and MasterCard
  • Skrill
  • Neteller
  • Sofort
  • WebMoney

 

Does TurboForex charge withdrawal fees?

No, but fees from financial institutions may be applicable.

 

How long does it take to make a withdrawal?

Depending on the payment method it may take from 24 hours to several days.

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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