Generally, the minimum deposit requirement depends on several factors:
Account type
Each trading account type has its own features and specifications; i.e. minimum deposit required, spreads, available instruments, execution types, commissions, etc. The choice of account depends on your trading preferences.
You can start trading on the real Forex market with a deposit $200 and have access to the most number of trading instruments on Advantage or Advantage Plus accounts.
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ADVANTAGE MINIMUM DEPOSIT$/€/£ 200, ₦350,000* |
ADVANTAGE PLUS MINIMUM DEPOSIT$/€/£ 200, ₦350,000* |
*NGN-denominated accounts are only available for residents of Nigeria.
Read more about our different trading accounts: What is the difference between the Advantage and Advantage Plus accounts?
Regional deposit requirements
All clients can open any account type we offer Advantage and Advantage Plus. There may be a different minimum deposit requirement for some regions, and you'll find more information on your MyFXTM dashboard.
Payment methods
Different payment methods or systems have different minimum deposit requirements.
Please also be aware that if you deposit less than 30$ or equivalent we will charge a $3 transaction fee. For clients in Nigeria, the 2,500 NGN fee will be charged for deposits of less than 25,000 NGN.
Margin requirements
Margin is the amount needed to open a new order. You'll need to have enough margin on your account to keep your positions open.
The margin required to open a new position depends on the account leverage, trading volume, and the leverage applicable to the trading instruments that you'd like to trade.
For instance, the minimum deposit on an Advantage account is $200. However, if you'd like to buy 3 lots of CRUDE, you would need to deposit $795, as explained in the below example.
Notional value = Crude price * Contract Size * Trading Volume
In this example, the notional value for 3 lots of Crude = $73*1000 * 3 lots = $219,000
Margin Required = (100,000 / 500) +(119,000/200) = $795
How much can my second deposit be?
Once you've made your initial deposit and activated your trading account, you're welcome to deposit any amount you'd like. Depending on your account type and location, maximum deposit amounts may apply. If you'd like to deposit more than the stated maximum deposit, you'll need to make the deposits in separate amounts.
Do I need to deposit funds on a demo account?
On demo accounts, you'll be given virtual funds to practice forex trading, so you're not required to make a deposit of any real funds to use on your demo account. If you run out of virtual funds, you can add more practice funds from your dashboard.