As a new forex trader, after going through the rudimentary tutorials on forex trading and knowing the basic prerequisites of forex trading like the importance and the need of a broker, you tend to look out for a reliable broker.
After successful registering with a broker and you are done with the Demo account, you want to go into the business and begin a new life therein.
Funding your forex account is the new step to get started, you fund your account based on the minimum deposit specified by the broker, this is what you will know as you read the terms and conditions of the broker you chose to startup with.
Funding your broker account is quite easy, it can be carried out using different ways but these am about to unravel are the common and most easiest ways to fund your broker account:
- Debit and Credit card deposit:
This method is one of the common and most easiest ways to transact online, it can be done anytime, any day and at your convenience provided you know how to get this done. You can fund your forex account through the credit card method, all you just need to do is to log in your forex account, select the credit card payment option. Enter your card details, the card number and the code on the opposite side of the card, enter your pin and click on make payment. Immediately you do these, the exact amount you intend to fund your account with would be deducted from your bank account. This is just how simple and easy it is.
- Using PayPal
PayPal is one of the most fastest method to transact online, this platform is active in over 150 countries in the world. Operating PayPal account is very simple and easy too. All you need to do is just to open a PayPal account in your country, this can be used to transact online.
To fund your forex account using PayPal, log on to your forex account, select the PayPal payment option. Immediately you will be redirected into PayPal login page where you will be instructed to enter your PayPal login details, after your successful login just click on pay for “your account funding” and it will be effected with a twinkle of an eye.
This is just how simple it is and your forex account will be activated.
- Using the wire transfer method
This method is a little bit technical but still very useful.
All you need to do is to walk up to your bank and inform them the intent of your transaction, that is, funding your forex broker to facilitate the activation of your forex account.
Once your broker confirms your payment, you will be notified and your account will be funded and made active.
You just need to be patient because it is not as fast as the other two.
Funding your forex account is very important because without funding, you are still far from the business.
Funding can be done in various ways as provided by the broker, the three aforementioned ways are the most popular ways and they are always available in the payment options.
Ensure you register with a reliable broker to avoid being duped.