Credit and Debit FAQs
- May I send funds from someone else's credit card account?
- No. FXCM may not make nor receive any payment via a third party, as we can neither guarantee the receipt, nor the return of such payments.
- How long will it take for a credit/debit card deposit to appear in my trading account?
- Most transactions will generally clear within one business day, however, please note that in some cases, delays in processing may occur.
- Is my credit card information secure?
- Your credit card information is secured by our transaction vendor's patent-pending encryption technology to ensure that your data is not compromised. So, right from the start, your credit card transactions are protected by the strongest encryption protocol in the industry.
- How much can I fund at one time?
- The minimum deposit for use of our online system is $100. The maximum deposit is $10,000 within one calendar month.
The minimum initial deposit for a Standard 10k account is $2,000.
- Can I pay with a Diner's card? American Express? Maestro?
- At this time, we only accept Visa and MasterCard.
- Can I pay via credit card from any country?
- We accept payments from over 150 countries worldwide. All funds will be converted to USD prior to receipt. Please check with your card-issuing company for exact conversion rates.
- Will I receive a receipt of my transaction?
- Within minutes of making a deposit, an e-mail containing a transaction number will be sent to the e-mail address submitted on the online deposit form.
- What is the withdrawal procedure when an account is funded by credit card?
- Accounts funded via credit card may be restricted to receiving withdrawals via credit card. There are no administrative fees associated with issuing your withdrawal request to your credit/debit card.
- Can I use my Visa Prepaid card or a Gift card to fund my FXCM account if my name appears on it and it has a Visa logo?
- Please do not send funds using a Prepaid or Gift Card. The origin of funds using gift cards or prepaid cards cannot be verified and therefore are not accepted. Deposits received in this manner will be returned to the originating card.
Wire FAQs
- To whom should the wire be sent?
- Wire transfers should be sent to Forex Capital Markets.
- How long will it take for my wire to arrive?
- Domestic wires take anywhere from one to two business days to arrive. International wires arrive in three to five business days.
- How long will it take for a wire deposit to appear in my trading account?
- Like official checks, wire transfers will be deposited into your trading account generally within one business day after receipt at our bank.
- May I send a wire drawn on someone else's account?
- No. FXCM may neither make nor receive any payment via a third party. We can neither guarantee the receipt nor the return of such payments.
- Can I send wire transfers in foreign currency?
- FXCM accepts funds in multiple currencies. If you send foreign currency to our USD account, the bank will automatically convert it to U.S. dollars at an exchange rate specified by them, which will not necessarily be favorable.
- How do I fund a non-USD denominated account?
- Non-USD denominated accounts must be funded via wire transfer, preferably in the currency denomination of the account. If you do not plan to wire funds in the denomination of your desired trading account, please contact FXCM's Operations department.
Paper Check FAQs
- To whom should the check be made payable?
- Checks should be made payable to Forex Capital Markets.
- What needs to be on the check?
- Please indicate your trading account number on the check (or "TEMPORARY ID" for new accounts). This will help expedite processing and avoid unnecessary errors or delays.
- May I fund my trading account using a personal check?
- FXCM accepts personal checks in the amount of $2,000 or more.
- May I send cash?
- No, we cannot accept cash. In addition, FXCM can neither guarantee the receipt nor the return of such payments.
- May I send a check drawn on someone else's account?
- No. FXCM may neither make nor receive any payment via a third party. We can neither guarantee the receipt nor the return of such payments.
- May I send a check from any bank?
- Only USD checks are accepted drawn on a U.S. banking institution. Foreign checks will not be accepted. Only checks with ABA routing numbers will be accepted (i.e., check must have a U.S. affiliate or corresponding bank).
- May I send checks in foreign currency, such as Canadian dollars?
- No. Only checks in USD will be accepted. If you wish to send any other currency, please do so via a wire transfer. Funding in a foreign currency.
- How long will it take for a check deposit to appear in my trading account?
- After receipt, personal checks take ten business days to clear because they must clear both the client's bank account as well as FXCM's bank account. A common misconception among clients is that a check, once having cleared the client's bank, should have automatically cleared our bank as well. This is, however, not the case. Personal checks and checks drawn on brokerage accounts, depending on the bank and state from which they are drawn, usually take up to ten business days to clear our bank.
Like wire transfers, all official checks, such as a certified, cashier's, or bank check, will be deposited into your trading account generally within one business day after receipt.
- May I send a check from another brokerage firm, such as E-Trade or Fidelity?
- Forex Capital Markets LLC does accept personal and brokerage checks for regular forex accounts as long as they are being sent from an account in the client's name. In other words, funds sent from a reputable brokerage firm, such as E-Trade, are acceptable because the funds are coming from your personal trading account at that firm. However, Forex Capital Markets LLC must wait for such checks to clear our bank.
- Can I make a check or cash deposit by going to the nearest Bank of America or HSBC branch?
- No. ATM or bank-branch deposits are typically received by FXCM without any information as regards to the account or individual from whom the payment originated. If such deposits are received, FXCM will require additional documents for proof of ownership and the funds will be returned. Please note that FXCM can neither guarantee the receipt nor the return of such payments.
- May I send in money orders or travelers checks?
- Any cash equivalent payments such as money orders and travelers checks will be returned to you via UPS because we are unable to verify the origin of these funds.
ACH FAQs
- How long will it take for my ACH deposit to appear in my account?
- ACH deposits may clear into your account as soon as 1 business day, but in some cases up to 5 business days. You can check your account balance to verify if your funds have been applied to your account by logging in to the FXCM Trading Station or www.myfxcm.com. If FXCM is unable to verify all deposit information you will be contacted via email.
Before you complete this transaction, you must first contact your bank and make sure that your bank account does not have a debit block. Otherwise, your payment will be rejected.
If you designate a weekend or bank holiday, the bank will withdraw the payment on the next business day.
- May I send funds drawn from someone else's bank account?
- No Third Party payments - FXCM does not accept funds for any trading account via a third party. We can neither guarantee the receipt, nor the return of such payments. Please keep in mind that restrictions on third party payments are set by banks and U.S. authorities, which have developed extensive procedures, regulations, and laws to stop the transfer of illegal funds, commonly known as money laundering.
- Can I make an ACH deposit in foreign currency?
- Deposits are only accepted in USD.
- What are the minimum and maximum ACH deposit amounts?
- There is a minimum deposit of $100 and a maximum deposit of $50,000 per transaction.
- Once I fund via ACH, are there restrictions on method of withdrawal?
- Withdrawal via paper check or bank wire are the available methods of withdrawal for you at this time. Withdrawals via ACH will be made available in the near future.
- Am I eligible to submit an ACH deposit?
- You are eligible to submit an ACH deposit if you have a USD denominated bank account which is domiciled in the United States. Youll need to be able provide your bank account number, and ABA routing number from your checkbook.
- Can I fund my Corporate/LLC/Partnership/Trust account using my own personal checking account?
- No, this constitutes a Third Party payment. To fund this account via ACH deposit, you must use a checking account associated with your Corporation/LLC/Partnership/Trust.
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