XTB minimum deposit: A tutorial on how to deposit money
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Most investors start trading with a broker after they are satisfied with their minimum deposit requirements. The minimum deposit amount is a significant factor determining whether a trader is ready to invest with the broker.
It is a deciding factor to join the community of the online broker, especially for beginners. Many beginners who do not have any experience in trading consider minimum deposit of paramount importance.
A low minimum deposit amount shields them from making huge losses when they are in their learning stage. In contrast, a high amount of minimum deposit can risk the lifetime savings of the trader.
XTB does not specify a minimum deposit amount for its investors. It is why XTB is increasingly becoming the choice for many beginners. Since there is no stipulation of XTB minimum deposit, a beginner can trade through his live account with any amount.
It means that you can even begin investing with $10 or $100. It is totally your choice.
XTB is a simple and reliable trading platform. One can learn to trade with XTB by opening a demo account.
After becoming confident of your fund management skills, you can switch to an XTB live trading account. You can sign up for XTB live trading account without any trouble.
You only need to enter details like your mobile number, email ID, verification proofs, etc., to sign up for an XTB live trading. You can fund your live trading account with an XTB minimum deposit using any payment methods available at the online trading platform.
Since there is no minimum deposit amount, you can begin with any amount of your choice. Once you do this, you are ready to trade with XTB. Before we discuss the process of depositing funds into your XTB trading account, let us look at a few details about XTB.
About XTB
XTB is one of the largest CFDs and forex brokers in the world. It is a stock exchange-listed broker ready to offer retail investors access to hundreds of global markets.
XTB has 15 years of experience serving its clients in the best possible way. With its offices in more than 14 countries, XTB is committed to enhancing the experience of retail investors through its trading platform.
XTB is conscious of the changes taking place in its technological environment. It makes sure that none of its investors suffer because of outdated technology. XTB constantly aims at providing its users with the best experience on its website. That is why it has effective customer support ready to solve the problems of its valued clients.
Opening your XTB account is simple. You can start trading with XTB as soon as you fund your account with an XTB minimum deposit. Let us first view what the term ‘minimum deposit’ is?
What is a minimum deposit?
A minimum deposit is an amount with which a trader should fund his account. It is the amount that lets your trading account operative so that you can invest your funds across various securities.
The minimum deposit amount varies across different trading platforms. Some online trading platforms stipulate a very high minimum deposit for the traders. It is a big no-no for beginners who do not have much experience in trading. A high minimum deposit is like risking the entire savings for beginners.
On the other hand, some online brokers have almost nil minimum deposit amounts. The low minimum deposit feature attracts many investors to the online trading platform.
XTB is one such platform that offers ease of investment to traders. When trading with XTB, one does not have to worry about any XTB minimum deposit. The below section will help you know more details about the XTB minimum deposit.
How much is the XTB minimum deposit?
If you are about to start trading with XTB, there is a piece of reliving news for you. You can quit worrying about the XTB minimum deposit as there is none. You can start trading various CFDs, forex, and other securities with XTB without any stipulation of the minimum deposit amount.
| XTB minimum deposit | $0 |
You can fund your XTB live account with whatever amount suits you. If you are willing, you can even fund your trading account with a high deposit. However, it is preferable only if you are a professional trader.
You can increase your XTB minimum deposit once you learn the skills of risk and fund management. XTB supports various payment methods that you can use to fund your account with an XTB minimum deposit. Let us look at these payment methods.
Available deposit methods
All online trading platforms seek to offer convenience to their users in terms of deposit methods. They provide many options to the investors as far as deposits are concerned. The main reason behind this is to offer alternatives to the users if they get stuck with one payment method.
Here is a list of all the payment methods that XTB supports.
● Credit and debit cards
● Bank transfers
● Electronic wallets
Let us discuss these XTB payment methods in detail.
#1 Credit and debit cards
You can use your credit/debit cards to fund your trading account with an XTB minimum deposit. Using a credit card for funding your account is similar to using it for online shopping.
You can select the credit or debit card as your deposit method. You can add all the relevant details like your card number, CVV, etc., and make the payment. For using your credit or debit card to fund your account with an XTB minimum deposit, you will need to verify that it is your credit card.
You can upload the scanned image of your credit or debit card to complete the verification process. As a beginner, you should also note that you cannot use someone else’s card to fund your trading account. XTB does not support third-party deposits and withdrawals.
#2 Bank transfer
Bank transfer is another option you can use to fund your trading account with an XTB minimum deposit. If you seek to deposit funds into your trading account through a bank transfer, you can select this as your preferred option.
After this, you can enter all the details of your bank account to make the payment for your deposit. However, you should make sure that you verify your bank account with the broker before doing so.
For this, you can upload the scanned image of your bank statement, which has your name and bank account number on it. The bank statement should also contain the name and address of the bank and the bank account holder.
By doing this, you can successfully verify your bank account with XTB and use it to fund your live trading account. The thing about third-party deposits holds for bank transfers also. You can fund your account with an XTB minimum deposit only through your bank account and not someone else’s.
#3 Electronic wallets
Electronic wallets are picking up the pace for making many online payments. You can use your electronic or e-wallet to make an XTB minimum deposit into your live trading account.
XTB lets you use your Skrill wallet to deposit funds into your account.
You can select the electronic wallet as your desired payment method under the ‘add funds’ option. Once you approve the payment, your XTB trading account gets funded with the deposit amount.
How to deposit – tutorial
Depositing funds into your XTB trading account involves three simple steps.
- Signing up and logging into your XTB live trading account
- Choose the ‘deposit funds’ option and select your desired payment method
- Review the payment and click on the ‘confirm’ option to fund your account.
Let us look at these steps in a more detailed way.
#1 Signing up and logging into your XTB live trading account
The very first step to deposit funds into your XTB trading account is to sign up for an account. You can sign up for a trading account with XTB by visiting its website. You can click on the create account option and enter all the relevant details. After signing up, you can log in by entering the login credentials.
#2 Choose the ‘deposit funds’ option and select your desired payment method
After logging in, choose the ‘deposit funds’ option to fund your trading account with an XTB minimum deposit. Clicking on this option will open a list of payment methods that you can use to deposit funds into your trading account.
XTB accepts payments made through credit cards, bank transfers, and electronic wallets. You can select a payment method that you think is suitable for you.
#3 Review the payment and click on the ‘confirm’ option to fund your account
After selecting a deposit method, enter the amount you want to add to your XTB account. When deciding about an amount to deposit, you don’t have to think about the XTB minimum deposit as there is no fixed minimum deposit at XTB.
You can enter the amount of your choice and click on the confirm button. After this, you can wait for the payment to reflect in your trading account. Payments made through different payment modes have a varied processing time.
A few of them can take longer to process. However, deposits through other options are quick and hassle-free. The section below will give you an overview of the processing time of your deposits.
How long does it take for a deposit to reflect in your account?
As mentioned before, processing time differs according to the payment methods you choose. Payments made through some modes can take slightly longer to show in your trading account.
Once you use your credit or debit card, the deposit will reflect in your XTB live trading account within a few hours. The same holds for the payments made via electronic wallets.
Payment method | Time involved |
Credit/debit cards | 2-3 hours |
Electronic wallets | Instant |
Bank transfers | 3-4 working days |
However, using a bank transfer to fund your trading account with an XTB minimum deposit can prove to be a little time-consuming. XTB minimum deposits made through bank transfers can take up to 3-4 working days to update your trading account balance.
If you need to add funds to your trading account through a bank transfer immediately to maintain the margin for open trade, you can contact the customer support of XTB to expedite the fund transfer process.
Deposit currencies
While funding your account with an XTB minimum deposit, you should also be wary of the deposit currencies. It is because you might have to pay additional charges for currency conversions.
Deposit Currencies | Availability |
USD | Yes |
EUR | Yes |
GBP | Yes |
HUF | Yes |
XTB supports all the major currencies in the world. You can fund your XTB trading account with an XTB minimum deposit using USD, EUR, GBP, and HUF
If you wish to deposit funds in any other currency, you might incur a currency conversion cost.
Fees that occur
While most online trading platforms charge very high fees from their clients, XTB does not charge anything. All the deposits you make into your XTB trading account are free of any cost.
You should note that if you fund your XTB minimum deposit through your electronic wallet, you will have to pay a deposit fee equivalent to 2% of the total deposit amount. It means that if you are funding your account with 100 USD through your electronic wallet, you will have to incur a deposit fee of 2 USD.
Payment Method | Deposit fees |
Bank transfers | No fee |
Credit or debit cards | No fee |
Electronic wallet | 2% of the total deposit amount |
XTB does not have any control over extra charges that you might have to pay to your bank for handling the transactions. This fee is called the convenience fee that your bank charges from you. XTB does not cover it for you.
Other than this, deposits made through card payments or bank transfers do not carry any deposit fee on them.
Things to keep in mind while funding your XTB account
If you are a beginner, you might want to consider a few things before depositing funds in your bank account.
Third-party deposits
Some beginners mistake using a third-party bank account, credit/debit card, or electronic wallet to fund their account. It is one thing that you should avoid altogether. XTB does not support third-party deposits and refunds the amount to its source.
Inactivity fee
Funding your account with an XTB minimum deposit and leaving it inactive for more than 12 months can cost you money. Like many online trading platforms, XTB also charges an inactivity fee from its clients.
The XTB inactivity fee amounts to 10 Euros monthly. If you are dealing in any other currency, you will have to pay an inactivity fee equivalent to 10 Euros.
Conclusion
If you are looking for a broker with zero minimum deposit, XTB is the choice for you. It is a trusted multi-asset broker providing outstanding customer service to its clients. You can find a wide variety of forex and CFDs on this online trading platform.
XTB offers you everything to experience to get an enhanced trading experience. XTB has a well-designed trading platform called xStation 5. It comes packed with all the innovative features that make it tempting to join the community of XTB.
If you are only beginning and want to learn to trade, you can access various educational content on the website. XTB also offers many research and technical tools to make one proficient in trading.
Most investors prefer XTB because there is no stipulation of the minimum deposit amount. One can deposit any amount of his choice using the payment methods available on the website. The zero XTB minimum deposit draws many new investors to the online trading platform.
FAQ – The most asked questions about XTB minimum deposit :
Do I have to worry about XTB minimum deposit?
No, you don’t have to worry about the XTB minimum deposit. You need not deposit a minimum amount into your XTB live trading account. You can start trading on XTB with any amount fitting into your budget.
How can I deposit funds into my XTB trading account?
You can fund your trading account with an XTB minimum deposit by following certain steps. You can log into your XTB trading account and click on the ‘deposit funds’ option. After this, you can select a payment method and confirm your XTB deposit.
Which payment methods can we use to fund our XTB trading account?
XTB offers payment options of credit cards, debit cards, bank transfers, and electronic wallets to fund your deposit. Traders can use any of the available methods to update the balance of their XTB trading account.
How long does it take for the funds to reflect into my XTB trading account?
After approving payment for the XTB deposit, you can expect the payment to update your trading account shortly. However, if you use the option of bank transfer, it might take nearly 3 to 4 working days. Payments through cards and electronic wallets are quick, and these payments update your trading account balance in a short time.
Can I use a third-party account to fund my XTB deposit?
No, you cannot use a third party’s bank account or card to fund your XTB deposits. If you deposit using a third-party account, the amount will get refunded to the payment source. It is against the legal regulations to use a third-party account to deposit or withdraw funds.
Do I have to pay any deposit fee to XTB for funding my account?
No, you don’t have to pay any deposit fee to XTB for funding your trading account. However, you might have to pay a convenience or a handling fee to your bank for making bank transfers or card payments.
Is there any fixed XTB minimum deposit?
XTB presents two live trading account options- Standard and Swap-Free. Neither of them demands an XTB minimum deposit. Nevertheless, the suggested minimum deposit amount is USD 100 / R1600 ZAR for the first live trade. So, you can start by depositing an amount of USD 100 / R1600 ZAR.
Is XTB minimum deposit amount affordable?
Yes, the XTB minimum deposit amount is affordable for most traders. You can start trading on XTB by depositing funds amounting to only 100 USD. Thus, even a beginner can use XTB for trading. With such a low minimum deposit amount, XTB gives an unbeatable trading experience to users.
What payment methods are available to make an XTB minimum deposit?
Traders can use a lot of payment methods to make an XTB minimum deposit. For instance, you can use basic payment methods such as bank transfers, cryptocurrency, electronic wallets, and cards.
How long does an XTB minimum deposit take?
XTB minimum deposit takes a short time. A trader can get started with trading on XTB as soon as he approves the payment for the deposit at his end. So, the payments for an XTB minimum deposit are quick and instant.
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Last Updated on January 27, 2023 by Arkady Müller
