How Can I Deposit Funds – FAQ

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How Can I Deposit Funds? – FAQ

  1. Open the Deposits page within the My Money section in MyFXTM.
  2. Choose your preferred deposit method and click ‘Deposit’.
  3. Select the MyFXTM account or wallet you wish to deposit funds into and complete the necessary fields.
  4. Confirm your deposit details in the next page.

Some additional steps may be asked from your payment provider.

Watch our step-by-step guides on how to deposit in our How to videos.

How long does it take to process my deposit?

Details on the processing time for each payment method can be found on our Deposits and Withdrawals page.

If we need to request and verify additional information then the processing time might be longer.

Please note that FXTM is not liable for any delays caused by a 3 rd party payment processor.

I made a deposit during the weekend/bank holiday, when will it be processed?

All deposits made during the weekend/bank holidays will be processed according to the standard processing times for each payment method.

Can I deposit from a country other than my country of residence?

Yes, however you will need to send us an to email explaining the reason for this.

Can I deposit using a joint account?

Yes, you will need to firstly upload or email us the following:

  1. Joint Account Form
  2. Account holders’ identification (ID) documents
  3. A recent copy of a Bank Statement clearly stating the account holders’ names and account number.
  4. Payment confirmation from the specified account.
Can I deposit to my personal trading account using a corporate account?

If the funds are deposited through the shareholder’s personal bank account then:

If you are the sole shareholder: The deposit can be processed, but the withdrawal must be sent back to the same bank account as that which made the initial deposit.

If there are several shareholders: We need written consent from all shareholders. Once written consent is received then the funds will be processed. If a withdrawal is requested, the funds must be sent back to the same bank account as that which made the initial deposit.

Can I deposit using a method that is not in my name?

No, we do not accept third-party transfers. The name of the sender must match the name used when registering with FXTM.

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Can I deposit if my current balance is negative?

Yes you can. Simply contact Customer Support or our Back Office Department in order to correct the negative balance on your account.

I’m depositing via Credit/Debit Card, are there any more steps I should follow?

After completing the steps outlined in ‘How to deposit funds into my account?’ you will be redirected to your bank’s page where you will be asked to provide some additional information.

If this is your first deposit via Credit/Debit card you will need to upload or email a clear colour copy of the front and back of your credit card in order for us to process your request.

The following information should be visible:

  • The card-holders name (This must match the name used during registration).
  • Name of issuing bank
  • The last 4 digits of the card number (all others must be covered).
  • Credit/Debit card expiry date.
  • Cardholder’s signature.

The CVC2/CVV2 (last 3 digits on the back of your card) must also be covered.

An example can be found below:

If the card is linked to a joint account, please refer to our Joint Accounts section.

I’m depositing via E-wallet, are there any more steps I should follow?

After completing the steps outlined in ‘How to deposit funds into my account?’ you will be re-directed to your selected E-wallet’s website in order to approve your transaction.

Please note that some e-wallets may require additional details.

I’m depositing via Bank-Wire, are there any more steps I should follow?

After completing the steps outlined in ‘How to deposit funds into my account?’ you will be given details on how to proceed with an online payment or transfer from your bank account to FXTM’s bank account.

Once the transaction is complete, you will have to upload or email the payment confirmation showing the following:

  • The bank account number.
  • Bank account holder’s name (this should match the name used during registration).
  • Payment details.

Your transfer should be processed within 3-5 business days from the date the funds were sent from your account. If your deposit takes longer than 5 business days please contact our Back Office department .

Please note that FXTM is not responsible for any additional bank charges.

I’m depositing via Online Banking China, are there any more steps I should follow?

After completing the steps outlined in ‘How to deposit funds into my account?’ you will be asked to select the bank you wish to use and complete the necessary fields.

If this is your first deposit via Online Banking China, you will need to upload or email a screenshot of your bank statement showing:

  • Your name (this should match the name used during registration)
  • Your account number
  • The transaction to FXTM
I’m depositing via WebMoney, are there any more steps I should follow?

If this is your first deposit, after completing the steps outlined in ‘How to deposit funds into my account?’ you will need to upload or email a screenshot of your WebMoney account showing the following.

  • WebMoney ID
  • Full name (this should match the name used during registration)
  • Address
  • WM Passport type (deposits can only be accepted from accounts with ‘Formal’ or higher WM Passport status).
I’m depositing using local payment solutions are there any more steps I should follow?
Why is the balance in my account different than what I deposited?

This is possibly due to additional charges made by your payment provider/bank. If this is the case, you should contact your payment processor for further clarification as we do not have access to third-party service systems.

Making a deposit

How can I deposit funds into my account?
  1. Open the Deposits page within the My Money section in MyFXTM.
  2. Choose your preferred deposit method and click ‘Deposit’.
  3. Select the MyFXTM account or wallet you wish to deposit funds into and complete the necessary fields.
  4. Confirm your deposit details in the next page.

Some additional steps may be asked from your payment provider.

Watch our step-by-step guides on how to deposit in our How to videos.

How long does it take to process my deposit?

Details on the processing time for each payment method can be found on our Deposits and Withdrawals page.

If we need to request and verify additional information then the processing time might be longer.

Please note that FXTM is not liable for any delays caused by a 3 rd party payment processor.

I made a deposit during the weekend/bank holiday, when will it be processed?

All deposits made during the weekend/bank holidays will be processed according to the standard processing times for each payment method.

Can I deposit from a country other than my country of residence?

Yes, however you will need to send us an to email explaining the reason for this.

Can I deposit using a joint account?

Yes, you will need to firstly upload or email us the following:

  1. Joint Account Form
  2. Account holders’ identification (ID) documents
  3. A recent copy of a Bank Statement clearly stating the account holders’ names and account number.
  4. Payment confirmation from the specified account.
Can I deposit to my personal trading account using a corporate account?

If the funds are deposited through the shareholder’s personal bank account then:

If you are the sole shareholder: The deposit can be processed, but the withdrawal must be sent back to the same bank account as that which made the initial deposit.

If there are several shareholders: We need written consent from all shareholders. Once written consent is received then the funds will be processed. If a withdrawal is requested, the funds must be sent back to the same bank account as that which made the initial deposit.

Can I deposit using a method that is not in my name?

No, we do not accept third-party transfers. The name of the sender must match the name used when registering with FXTM.

Can I deposit if my current balance is negative?

Yes you can. Simply contact Customer Support or our Back Office Department in order to correct the negative balance on your account.

I’m depositing via Credit/Debit Card, are there any more steps I should follow?

After completing the steps outlined in ‘How to deposit funds into my account?’ you will be redirected to your bank’s page where you will be asked to provide some additional information.

If this is your first deposit via Credit/Debit card you will need to upload or email a clear colour copy of the front and back of your credit card in order for us to process your request.

The following information should be visible:

  • The card-holders name (This must match the name used during registration).
  • Name of issuing bank
  • The last 4 digits of the card number (all others must be covered).
  • Credit/Debit card expiry date.
  • Cardholder’s signature.

The CVC2/CVV2 (last 3 digits on the back of your card) must also be covered.

An example can be found below:

If the card is linked to a joint account, please refer to our Joint Accounts section.

I’m depositing via E-wallet, are there any more steps I should follow?

After completing the steps outlined in ‘How to deposit funds into my account?’ you will be re-directed to your selected E-wallet’s website in order to approve your transaction.

Please note that some e-wallets may require additional details.

I’m depositing via Bank-Wire, are there any more steps I should follow?

After completing the steps outlined in ‘How to deposit funds into my account?’ you will be given details on how to proceed with an online payment or transfer from your bank account to FXTM’s bank account.

Once the transaction is complete, you will have to upload or email the payment confirmation showing the following:

  • The bank account number.
  • Bank account holder’s name (this should match the name used during registration).
  • Payment details.

Your transfer should be processed within 3-5 business days from the date the funds were sent from your account. If your deposit takes longer than 5 business days please contact our Back Office department .

Please note that FXTM is not responsible for any additional bank charges.

I’m depositing via Online Banking China, are there any more steps I should follow?

After completing the steps outlined in ‘How to deposit funds into my account?’ you will be asked to select the bank you wish to use and complete the necessary fields.

If this is your first deposit via Online Banking China, you will need to upload or email a screenshot of your bank statement showing:

  • Your name (this should match the name used during registration)
  • Your account number
  • The transaction to FXTM
I’m depositing via WebMoney, are there any more steps I should follow?

If this is your first deposit, after completing the steps outlined in ‘How to deposit funds into my account?’ you will need to upload or email a screenshot of your WebMoney account showing the following.

  • WebMoney ID
  • Full name (this should match the name used during registration)
  • Address
  • WM Passport type (deposits can only be accepted from accounts with ‘Formal’ or higher WM Passport status).
I’m depositing using local payment solutions are there any more steps I should follow?
Why is the balance in my account different than what I deposited?

This is possibly due to additional charges made by your payment provider/bank. If this is the case, you should contact your payment processor for further clarification as we do not have access to third-party service systems.

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FXTM brand is authorized and regulated in various jurisdictions.

ForexTime Limited (www.forextime.com/eu) is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614. The company is also registered with the Financial Conduct Authority of the UK with number 600475.

ForexTime UK Limited (www.forextime.com/uk) is authorised and regulated by the Financial Conduct Authority with license number 777911.

Exinity Limited (www.forextime.com) is regulated by the Financial Services Commission of the Republic of Mauritius with an Investment Dealer License bearing license number C113012295.

Card transactions are processed via FT Global Services Ltd, Reg No. HE 335426 and registered address at Tassou Papadopoulou 6, Flat /office 22, Ag. Dometios, 2373, Nicosia, Cyprus. Address for cardholder correspondence: [email protected]

Exinity Limited is a member of Financial Commission, an international organization engaged in a resolution of disputes within the financial services industry in the Forex market.

Risk Warning: Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of the FXTM brand based on the legal requirements in his/her country of residence. Please read FXTM’s full Risk Disclosure.

Regional restrictions: FXTM brand does not provide services to residents of the USA, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, the Occupied Area of Cyprus. Find out more in the Regulations section of our FAQs.

Question: How can I deposit funds into MT4 account? How long does it take?

RFXT – What’s now?

We are no longer promoting RFXT. The information regarding to RFXT on the website ‘Hercules.Finance’ maybe outdated. ref. RFXT

RFXT provides various funding methods to have you start trading right away.

You can deposit by wire transfer, cheque, credit card, and a large range of ‘ePayment’ solutions.

Domestic wire transfers within Australia usually take between 1-3 business days to arrive while international transfers can take up to 7 business days.

Personal cheque require 5 business days of clearance by the bank before being deposited while banker’s cheque can be deposited in your account right away.

Deposits by credit card and ePayment options are processed into the Client Trust account immediately and is then credited manually to your trading account within working hours.

Any transfers after working hours will be deposited into your account at the start of the next business day.

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We are no longer promoting RFXT. The information regarding to RFXT on the website ‘Hercules.Finance’ maybe outdated. ref. RFXT

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Funds Availability Rules and Your Deposits

When you deposit a check, you naturally expect the money to show up in your bank account. You probably also expect to be able to use that money whenever you need it. In most cases, that’s exactly how it works, and there are no problems.

However, problems do sometimes arise. Your bank may put a hold on the money, and you can’t withdraw cash or spend it as quickly as you hoped. Your bank’s funds availability policy, along with federal regulations, spells out exactly how long everything is supposed to take.

Funds Availability

A bank’s “funds availability policy disclosure” explains how long you need to wait to spend or withdraw funds after you make a deposit.     Federal law provides some limitations on holding periods, but banks set their own policies.   Banks provide that information to prevent surprises, but most people don’t pay attention to these policies until they’re stuck waiting for funds to clear.

The details about your bank’s policy should be part of your account agreement or included in other disclosures provided by your bank.

Holding Deposits

When you deposit funds into your account, the bank often puts a hold on those deposits, requiring you to wait for at least one business day before you can use the money. 

Why Banks Hold Deposits

The money you deposit doesn’t arrive at your bank for several business days (or more) after your deposit. The hold is intended to protect the bank from losing money.   If the check bounces or some other complication arises, the bank will have an opportunity to fix the problem before you have the opportunity to spend the funds.

Holds Protect You, Too

Holds can also help you avoid problems, but you are ultimately responsible for any deposit you make to your account. If your bank allows you to spend funds from a check that later bounces (which can happen several weeks after you deposit the check), you may have to pay fees in addition to repaying the bank for the money they gave you.   It might not be your fault if someone writes you a bad check, but it’s still your problem if you spend money that you don’t actually have. That’s why it’s critical to verify funds on suspect checks and avoid taking check payments from people you don’t trust.

Holding Times

Federal regulations limit how banks can set up their funds availability policies.   Banks are allowed to be less strict if they want. For example, banks can make funds available immediately, and they often do so, but they cannot hold funds forever. 

Whenever you make a deposit and you want to use the money soon, ask your bank when your funds will be available.

If there is a hold on your deposit, the bank should provide you with the release date on your receipt. In some cases, they add a hold later (and mail you a notice), so if you’re running low on funds, it’s wise to check your account balance before spending.

Next Business Day Deposits

Most banks say that they “generally” make funds available on the business day after you make a deposit, but there are exceptions. Cash deposits made to a bank employee must be made available within one business day (business days are weekdays that are not holidays), and those deposits are often available immediately. Certain types of checks must also be available in one business day: 

  • Official bank checks like cashier’s checks
  • Checks issued by the U.S. Treasury (such as your tax refund or Social Security)
  • Checks for $200 or less
  • Checks drawn on the same bank that you’re depositing to
  • USPS money orders

Electronic deposits like wire transfers and direct deposits are also generally available within one day.

Longer Hold Times

The Expedited Funds Availability Act (Regulation CC) sets rules on how quickly banks need to release your funds. It allows longer hold times under specific circumstances. Those situations might be called exceptions. 

When an exception applies, the bank may hold funds for a “reasonable” amount of time. “Reasonable” is not specifically defined. Five business days or so is a typical hold time, but longer holds are possible.

More Than $5,000

If you deposit more than $5,000 in checks, the first $5,000 must be made available according to the bank’s standard holding policy, but a longer hold can apply to the remaining amount.   For example, when the checks are government checks, cashier’s checks, or another low-risk item, the bank should make the first $5,000 available on the next business day, as long as the deposit meets certain criteria.

Redeposited Checks

If a check is redeposited (because it bounced when it was first deposited), the bank can add a longer hold. You should also be concerned about receiving checks from someone whose check has previously bounced.

Repeatedly Overdrawn Account

Overdrawing your account (or spending more money than you have available in the account) doesn’t just cause hefty bank fees—it can also lead to holds on your deposits. This makes it even easier to go into the negative.

Reasonable Doubt

If the bank suspects that the check will not be honored, they can add extra hold time. Common reasons that qualify as “reasonable doubt” include postdated checks and checks that are more than 60 days old.

New Accounts

Brand new accounts are especially risky for banks. If your account is less than 30 days old, expect to have checks held for up to nine days. However, electronic payments and official checks should have at least partial next-day availability. 

These regulations also apply to federally insured credit unions.

Watch the Cut-Off Time

It’s always important to define your terms. When you deposit a check, you probably think you did it “today,” but you may have missed the cut-off for starting the deposit process on that calendar day. When making an important deposit, ask the teller which day your deposit counts toward and whether any holds apply. Your receipt should have that information as well, but it never hurts to verify the details.

If it’s late in the day, you might be better off depositing at an ATM or through your bank’s mobile app (by snapping a photo of the check). Those methods often have later cut-off times. However, that strategy can backfire if you’re unfamiliar with the technology. Complications can arise, especially at ATMs that don’t create an image of your check. Trying out new deposit methods is best when you don’t need all of the money soon and your account is in good standing. When in doubt, ask your bank’s customer service department for advice about how to expedite the deposit process.

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