FXCM Minimum Deposit Summary
FXCM Minimum Deposit R900
Deposit Methods Bank transfers, cards, E-wallets (Neteller, Skrill)
Account Types Retail Account, Professional Account, Active Trader Account, Islamic Account
Deposit Fees No Fee
Account Base Currencies EUR, CHF, USD, GBP
Withdrawal Fees R720 (Bank Transfer)
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FXCM’s minimum deposit in South Africa is R900 ($50).

If you trade with FXCM in South Africa, you should read this to learn about some important details of the minimum deposit requirement. We cover the available payment methods for deposits for deposits and withdrawals, the fees, the processing time for deposits/withdrawals and step-by-step guide to adding funds to your trading account.

What is the minimum deposit for FXCM?

The required minimum amount for deposit on FXCM is 900 ZAR ($50). This applies to all payment methods accepted on the platform and to the Retail Account.

FXCM offers only one account type, which is the Retail Account, they also have professional account which offers higher leverage and other features for experienced traders. You can apply for this account if you meet some criteria. You can also create a corporate account on FXCM.

Accepted Deposit Methods on FXCM South Africa

FXCM offers a range of ways to deposit into your trading account:

1) Credit/Debit Cards (Visa, MasterCard): FXCM allows you to add funds to your account with bank cards, the minimum deposit amount when using cards is R900 ($50), deposits via this method are credited within 24 hours.

FXCM also also allows you to withdraw funds to your cards, there is no fixed minimum amount for withdrawal, it usually takes about 3-5 business days for you to receive the funds in your card.

FXCM does not charge any fees for depositing or withdrawing with this method.

2) Bank Wire Transfers: Bank transfer are another accepted method to deposit funds to your account, the minimum amount is R900 ($50), and it is usually credited in 1-2 business days.

You can also withdraw funds to the local bank account used in funding your FXCM trading account. There is no compulsory minimum withdrawal amount, and it takes about 3-5 business days for you the funds to arrive your bank account.

Typically, deposits via bank transfers on FXCM are free, but withdrawals incur a fee of R720 ($40) per withdrawal.

3) E-wallets (Skrill, Neteller): You can use e-wallets to deposit funds on FXCM, the minimum amount for this method is R900 ($50) and it usually credited within 1 business day to your trading account.

Withdrawals to e-wallets are allowed on FXCM, no fix withdrawal amount is enforced, withdrawals to e-wallets usually take 3-5 business days to clear.

No fees are charged for deposits or withdrawals via e-wallets.

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Note: CFD trading is risky

FXCM Deposit Methods Table

Here is a summary of payment methods accepted by FXCM for deposits.

Deposit Methods Availability Minimum Deposit Charges Processing time
Internet banking/bank transfers Yes R900 ($50) Free Up to 2 business days
Cards Yes R900 ($50) Free Instant
E-wallet Yes (Skrill, Neteller) R900 ($50) Free Instant

FXCM Deposit Rules

1. Deposit Fees: FXCM does not impose any deposit fees when adding funds to your trading account, so the amount you deposit is what will be reflected in your account. However, you bank, payment processor or card issuer may charge an independent fee in the process.

2. Deposit Time: The it takes for your deposit to reflect in your FXCM trading account depends on the payment method used. Deposits via cards and e-wallets (Neteller, PayPal) are credited within 24 hours or 1 business day while deposits via bank transfers take 1-2 business days to be credited.

3. Payment Source: Third party deposits are not allowed on FXCM, all deposits must come from bank accounts, cards, or e-wallets that belong to you, the trading account owner. You are usually required to provide ID to verify your account when you first sign up.

How do I deposit money into FXCM?

Step 1) Sign in to your account via www.myfxcm.com/fxma/login.

Log in to FXCM South Africa

Step 2) Click on ‘Deposits’ on the account summary and choose your preferred deposit method.

Step 3) Enter the amount you want to deposit in the form and submit to complete the deposit.

Comparison Of FXCM Minimum Deposit With Other Brokers

Here is a comparison of FXCM minimum deposit with that of their competitors.

Broker Minimum Deposit
FXCM R900 ($50)
AvaTrade R1,950
FBS R100
Octa R480
HF Markets R100
IG Markets R4,000

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Note: CFD trading is risky

FXCM Minimum Deposit FAQs

Does FXCM work in South Africa?

Yes, you can create an account on FXCM if you are based in South Africa. FXCM operates legally in South Africa and is regulated by the Financial Sector Conduct Authority (FSCA).

What is the minimum account for FXCM?

ZAR 900 ($50) is the minimum amount you can deposit on FXCM platform. The same amount applies whether you are using cards, e-wallets or bank transfers to deposit funds.

Does FXCM have inactivity fees?

Yes, if your account is dormant for one year, that is you do not place any trade, FXCM will charge inactive account fee of R900 ($50) per year. If you have no funds in your trading account, the fee will not be charged and you will not accrue any negative balance.

How much does FXCM charge for withdrawal?

R720 ($40) is the withdrawal fee if you are withdrawing funds to your bank account via a wire transfer. Withdrawals to cards and e-wallets are free of charge on FXCM.

How long does FXCM deposit take?

It can be 24 hours or take up to 2 business days, depending on your payment method. If you deposit using cards or e-wallets (Neteller, Skrill), the funds are credited to your trading account within 24 hours or 1 business day. Deposits via bank transfers take 1-2 business days.

How long does it take to withdraw from FXCM?

2-5 business days is the typical time it takes for you receive funds after initiating a withdrawal on FXCM, depending on the payment method you choose. While local bank transfer withdrawals are received within 2 business days, it takes 5 business days for international bank transfer.

Card and e-wallet withdrawals are can take up to 5 business days for you to receive the money.

Can you withdraw money from FXCM?

Yes, log in to your trading account, on the account summary page, click ‘Withdraw Funds’, fill out the withdrawal form with the payment method you want to use and the amount, then ‘Submit’ the withdrawal request.

What is the maximum deposit for FXCM?

£30,000 is the maximum amount you can deposit per transaction via cards on FXCM.

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