- STEP 2 - Choosing A Deposit And Open Account
The most popular methods used to fund trading accounts are Credit / Debit Cards, and e-Wallets. Electronic Wallets like PayPal and Skrill are popular methods because of the additional layer of security involved however most brokers use the highest forms of SSL security available online. Bank Transfer are another popular method for larger investment amounts. Before selecting an investment amount make sure to find a broker you trust. For the list of recommended brokers, you can view our list of brokers. Here is a list, with a brief explanation of which deposit methods are popular and which brokers accept these investment types:
Main Advantages Debit/Credit Cards:
- Cards allow you to cash money at any time;
- Personal data security guarantee;
- Cards support a variety of partner, bonus and loyal programs;
- The ability to use online banking;
- Convenience and versatility of the service.
Main Advantages Skrill:
- Instant deposits without commission;
- Reliability and confidentiality;
- Instant money transfers around the world;
- Multilevel VIP program;
- Fast processing of cashouts.
Main Advantages PayPal:
- Excellent level of financial protection;
- High level of funds protection and return in case of loss;
- This payment system has a high speed of work;
- Conversion of currencies automatically;
- More than 250 million active accounts worldwide;
- Payment in large world stores;
- Keeping money in any of the 26 currencies.
Main Advantages Bank Transfer:
- Banks operate all over the world;
- Instant currency conversion;
- The ability to use a non-cash payment;
- Conversion of currencies automatically.
Main Advantages Neteller:
- 22 currencies to choose from to create an account;
- Free transfers between NETELLER accounts;
- When transferring to Skrill, the commission is 1%;
- Additional account in another currency;
- Possibility to buy cryptocurrency;
- Currency conversion with reduced fees;
- VIP statuses with different privileges.
Main Advantages UnionPay:
- Versatility and breadth of use of maps throughout the world;
- Fast way to pay for services and goods;
- Currency of your choice such as MNT, USD and CNY;
- Exclusive offers worldwide;
- Additional VIP services;
- Profitable non-cash conversion to yuan.
How to open an account with a Forex Broker?
After choosing a payment method and opening an account, you need to replenish the deposit for the amount provided by your account type and the terms of a particular broker. Some brokers provide the flexibility to manage your Forex account with a minimum amount of just $100. When replenishing your account, you should take into account that the withdrawal of profit in the future will be possible only in the way you made the replenishment.
How long does it take to open a Forex Account?
The account opening procedure takes 1 to 3 working days, depending on the broker’s terms. You will need to complete a simple form and attach documents confirming the identity and address of residence. After you register, in case of a delay in the specified period, contact the manager on the broker’s website. At the same time, you will receive a letter in the mail with your login and investor password of the created account.