In many cases, the method you use for depositing money will also double as your withdrawal method. Most forex brokers provide a list of deposit and withdrawal methods they accept on their banking pages. There you should also be able to view transfer times and fees. On our site, you may read through detailed articles on all of these deposit method categories, as well as popular providers in each.

Note that not all forex brokers offer the same list of deposit methods. Some may accept only a few different methods, while others may provide dozens of options. Fees, transfer times, and other details also may vary from one broker to the next. For that reason, it is very important to check out the banking information for any broker you are thinking of using before you sign up. Best Forex Brokers Broker Reviews ECN Brokers Forex Bonus Comparison Forex Demo Accounts Academy Breaking News.

Home Deposit Methods. Last update: 14 October Deposit Methods Planning to trade forex online? What is a Deposit Method?

Common Deposit Methods for Forex in In , many different deposit methods are accepted for forex. Here are a few: Credit or debit card Bank transfer E-wallet i. PayPal , Skrill , etc. Prepaid cards i.

paysafecard Check or money order Bitcoin or other cryptocurrencies On our site, you may read through detailed articles on all of these deposit method categories, as well as popular providers in each. Best and most trusted forex brokers in November Used by. No Information. Trading Instruments. Examples include CFDs, stocks, currencies, metals, and commodity futures.

Type of Brokers. Trading Platforms. MT4 Platform for trading Forex, analysing financial markets and using expert advisors. MT5 Multi-asset platform for trading Forex and CFDs. Mobile App. WebTrader Trade online without downloading any software. Deposit Methods. More info Less info Trade Now Read Investing Review. Customer Support. More info Less info Trade Now Read 24Option Review. Bank transfer, Visa, MasterCard, Skrill, Neteller, PayPal, Union Pay, WebMoney and more.

More info Less info Trade Now Read AvaTrade Review. More info Less info Trade Now Read CityIndex Review. Bank transfer, Visa, MasterCard, Skrill, Neteller, FasaPay, American Express, Union Pay and more.

More info Less info Trade Now Read easyMarkets Review. More info Less info Trade Now Read ETFinance Review. There are many traders who are restricted to using just bank wires, which is quite restrictive. These traders have no choice but to use what is available. Security issues: Some payment methods tend to have better security than other payment methods. For instance, the use of bank wires ensures that money is routed through bank accounts where proper KYC documentation has been collected and the identities of those operating the accounts are known.

That is why some forex brokers insist on traders in certain countries to use only bank wires as the deposit method. Then there is the issue of cybersecurity. It is a lot easier for credit card accounts and digital wallets to be compromised. A credit card can be stolen or lost. If it falls into the wrong hands, it can be cloned and very bad things can happen. Some traders will therefore choose not to use them at all.

In contrast, a digital wallet or a bank account cannot be physically stolen. In very conservative societies where adoption of new technologies and new ways of doing things is slow, traders are more likely to adopt older means of payment such as the bank wire in conducting their forex account deposits.

Chargebacks and Refunds: Refunds and chargebacks are becoming a major consideration for traders who live in areas where the use of credit cards is widespread. If a trader used a credit card for depositing funds into a forex account, it will be easier to get a chargeback and refund for unauthorized transactions. Recurring payments: Where a trader needs to make repeat deposits, such as when using forex brokers with low minimum deposits, the credit card and digital wallet systems are the payment methods to use.

Wire transfers require repeated filling of relevant information in physical or online forms, which can be quite a hassle. The same reason is why credit cards and digital wallets are the payment systems best adapted for deployment of withdrawals using one-click payment functions on forex broker sites.

Ease of Transactions: Everyone is going mobile these days. Forex trading has gained a strong foothold on smartphones and tablet devices. Many traders who operate with their mobile, hand-held devices like to be able to use their devices to perform other forex-related functions, one of which is doing forex deposits.

Anyone who has tried to perform forex deposits on a smartphone will immediately tell you that it can be done in a breeze with credit cards and digital wallets. For instance, Skrill has a mobile app with multi-level authentication which enhances the security of transactions. Wire transfers are a bit more complicated to perform on mobile.

So those looking for ease of transactions have a clear choice to make. Speed of Transactions: Credit card deposits as well as deposits made with digital wallets are usually settled instantly. Withdrawals also take a maximum of hours to complete. Wire transfers take days to complete and are held up on weekends and holidays. Traders who love to do fast-paced deposits, trading and withdrawals will not fancy the delays that accompany the bank wire transfer method.

Traders will always have preferences for certain deposit methods, and the reasons have been discussed above. Brokers are in business to serve the interests of traders. Therefore, brokers will go all out to ensure that their platforms can offer traders the deposit methods of their choice. The offering of a payment method involves a series of complex integrations with the payment systems to ensure that everything is smooth and works out well.

In conclusion, it can be deduced that the choice of the deposit method for your forex account can influence your trading style and trading outcomes. It is indeed possible to deposit forex capital into your account on a Monday, trade from Tuesday to Thursday, and get your profits in your hands by Friday, and there are deposit methods that can support this trade pattern.

But for some other traders, there are restrictions in what payment systems they can use. This brings us to the question: is there any way that deposit bonus forex brokers and the forex no deposit bonus brokers can reach out to traders that live in regions of the world that are under-served by the existing payment channels? The preferred method is to work with local e-payment companies to develop country-specific payment channels to serve these populations.

This will help bring in more business for brokers and allow more people to start trading forex. Inside this section of the website you will find all the best brokers according to the payment methods they accept.

We have compiled these recommendations based on user feedback and on our own in-depth research of the various brokers. Find Forex Brokers in South Africa.

Kenya Forex Firm. April 24, Easy Forex is one of the most recommended forex brokerage firms in Kenya. Opening an account with them is easy, and you can start practicing how to trade forex by opening a demo account. However, after some time, you may feel that the time has come to start trading with real money.

Luckily Easy Forex is one of the best brokers that accept Mpesa as a means to fund your account. So, how do you deposit money into your Easy Forex account? Easy Forex provides forex traders with 4 types of accounts to choose from depending on the minimum amount of deposit that you have, the lot sizes you wish to trade and the level of desired margin level.

Your trading account needs to be funded before you can start trading. Doing so is easy and takes less than 5 minutes. You can fund your account from your debit ATM card, Credit Card, Direct Bank Transfer or using one of the accepted E-wallets. Credit cards have become the most convenient way for traders to deposit money into their Easy Forex accounts. The payment method is secure and takes only a few minutes. However, you need to note that most forex brokers insist that you can only withdraw funds from the same source that you used to deposit funds.

About the Author Patrick Mahinge. Save my name, email, and website in this browser for the next time I comment. Futures, CFDs, and Forex are leveraged products with a high degree of risk to your capital. Such products may not be suitable for all investors and therefore you need fully understand the risks associated with them and seek independent advice if necessary. The information in this site does not contain and should not be construed as containing investment advice or an investment recommendation, or an offer of or solicitation for a transaction in any financial instrument.

An address. Mon to Friday am to pm. Enter your email address to get the latest updates and offers. Skip to content Kenya Forex Firm. Home About Training Appointments Blog Contact. April 24, How to Deposit Money in Your Easy Forex Trading Account Patrick Mahinge. Forex Brokers. Easy Forex: Account Types Easy Forex provides forex traders with 4 types of accounts to choose from depending on the minimum amount of deposit that you have, the lot sizes you wish to trade and the level of desired margin level.

About the Author Patrick Mahinge Patrick Mahinge is a full time forex trader, money manager, and consultant to major financial funds. At only 35 years old he is widely considered an up and rising star in the forex trading community and is known for his simple time proven techniques. Since the founding of KenyaForexFirm. com in , his forecasts have been uncannily accurate and his subscribers have reaped the benefits.

com is Patrick's attempt to share his wisdom and knowledge about Forex Trading so traders can see through the clutter and get straight to the core of profitable trading. Leave a Comment Cancel reply Comment Name Email Website Save my name, email, and website in this browser for the next time I comment. Risk Disclosure Futures, CFDs, and Forex are leveraged products with a high degree of risk to your capital. Important How to Start Trading Best Forex Schools in Kenya CMA Regulated Forex Brokers Forex Trading Using Mpesa Make Money Trading Forex Learn Forex Trading.

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Forex trading is exciting, but the journey only starts when the trader actually deposits some money into the trading account in order to buy and sell currencies. Your Money. How does the process of depositing money into a forex trading account work with these methods? However, with the development of electronic trading networks and margin accounts , requirements have changed. What Is the Best Way to Fund a Forex Account? So, how do you deposit money into your Easy Forex account?

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