Deposit at Forex Brokers

You have been receiving some amazingly lucrative offers to open a trading account with a Forex broker. Like other marketing offers, you have been ignoring these one as well. However, the last email offering 50% bonus on deposit of $10,000 caught your attention. Whether you are a newbie or a Forex veteran, such an offer is surely going to get you hooked. Don’t you think it’s too good to be true? Just think of it, Forex brokers are in the market for some profit. Why would they offer such a huge amount as a welcome gift?

Forex industry is popular for such outrageous marketing claims and fake brokers. And these are among the tell tale signs of a Forex Scam. We do not mean to scare you by any chance. Not all brokers are fraudulent. It is just that we want to be more thorough and careful in your selection of a brokerage house. Surely you do not want some fake Forex agent to lure you in making a usurious deposit, and then disappear at the time of giving the promised bonuses or unnecessarily delay the withdrawal process. Just spend a few minutes reading this article and you can save your hard earned money from getting into the wrong hands.

Type of Accounts

One of the first few details that you are required to fill in the registration form is the type of account that you intend to open with that broker. And for that it’s important to have a complete knowhow on the types of Forex accounts and their requirements before clicking any option. Your selection would determine the minimum amount of funds needed to get in the Forex trading arena.

>> Click here to claim your $100,000 demo account!

Mini Accounts

Mini live accounts are recommended to investors who are new in the field of Forex trading. The fact that these trading accounts require the least amount of funds to start with makes it highly popular among greenhorn investors. Although the exact amount of deposit varies among the brokers, but in any case it stays in between the range of $50 to $500. Accordingly, the risk, return and bonus amount is also less as compared to other type of accounts. One factor that makes mini accounts popular among new traders is its “Guaranteed Limited Risk” feature. It means that the trader would not lose more than the initial principle investment.

Now you have two things to look for when looking for a Forex agent. First, no matter how high the bonus amount is, the minimum deposit should lie within this range. And secondly, the brokerage house must offer the limited risk feature in the mini account. There are some brokers in the industry who don’t embed this option in their written agreement and later on use your capital recklessly to make up for the small amount of deposits.

Standard Accounts

Another option for you is to register for a standard account which requires you to deposit within $500-$10,000. The average deposit amount in these accounts is $2,000 with a leverage ratio of 200:1. Even standard accounts have the “Guaranteed Limited Risk” feature, however very few brokers offer it.

VIP Accounts/Managed Accounts

Now this is the most lucrative, high return and high risk account. The average minimum amount of deposit is $10,000 with no limit on the maximum side. Also known as platinum, gold or privileged accounts, here the brokers assign you a personal trade manager. All you have to have to do is fatten your Forex trading account and leave the rest to your trade manager. He/she will invest on your behalf as per your trading preferences.

>> Click here to open a VIP account at Avatrade!

Stay Alert…

Whether you have $500 or $50,000 or even more in your bank or trading accounts, it is your hard earned money after all. The fact that you are wealthy or have strong financial backup does not mean the Forex agent should be reckless with you. We would always recommend you to start off with a free demo or the less risky mini account. Try the broker’s services, customer support, deposit bonus policies, Forex binary options, and most importantly the withdrawal procedure. Delaying the withdrawal process or deducting extra hidden commission is a very common trend in the Forex industry. Even the industry news and market review are not as reliable. Just spare a month or two to test the broker and once you are completely satisfied, hop on. Don’t get manipulated by the outrageous and extremely lucrative marketing claims of Forex brokers.

Be informed! Be patient! It’s a matter of your entire life’s savings.