Learn Forex Trading Lesson #3: Funding your account

FUNDING AND WITHDRAWAL OPTIONS

Funding your forex account: no lottery!

The joy of trading forex comes when you can place money into your forex trading account as fast as possible, make a successful trade or two, and withdraw your money as fast as possible too.

Different forex brokers have their own funding and withdrawal options. The most widely used options are as follows:

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You need to seriously consider the options available for your country. For example, most countries can transfer money and withdraw money from their forex accounts using bank wire transfers. This is however the slowest method as it takes anything from 3 to 7 working days to effect the transfers. This is not acceptable for most traders, but for many, this is the only option.

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If you live in Europe, the Americas or in a place like South Africa, you can use PayPal or credit/debit cards which are about the fastest options. Transactions are concluded immediately. In countries where it is available, Moneybookers is another great option.

One important thing to note is that there are transaction charges for each type of transaction, so factor these in when funding and withdrawing from your account.

Some brokers offer customized debit cards for use in funding and withdrawing accounts. This is about one of the best ways to easily fund and withdraw from your trading account.

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Please no matter the medium of transfer of you funds, always ensure you stick to the funding and withdrawal limits so as not to run foul of international money laundering regulations.

eForexSystemReviews.com strongly recommends using either a debit card or direct bank transfer. In other words, only ever invest with money that you have, rather than on a credit line.

Our broker of choice is Capital Spreads, who allow you to deposit by means of debit (or credit) card, and bank transfer. They have some of the most competitive ranges we’ve seen (i.e. the narrowest gap between the buy and sell prices), and their customer service is excellent.