In order to start trading, the amount that you need to send to your brokerage account from your bank is known as the minimum deposit. It is important for a person if they want to start trading. To invest in the different market, you need to send different minimum accounts, and if you want to know about that in detail, you can check out this website http://www.vixbrokers.com/minimumdeposit/icmarkets.html. If you do not have the idea of how you can deposit the amount, then you can check out the steps mentioned below-
Step #1 Open the broker account
The first step you need to follow while sending the minimum deposits is to open the account; most online trading account is open online. To open the account, a person needs to provide all their personal details such as their date of birth, the status of their employment, and a test of the knowledge they have about finance. Then there comes the last step of opening the account: identity and residency verification. For that, a person needs to upload the ID card copy and give proof of residence.
Step #2 Make the depositsOnce you open the account, you need to sign in to that and deposit the interface. Different methods are available to deposit the money in the account, and you can choose any one of them by entering the deposit amount, and after that, you can make the deposits. Following are the different method of deposit you can choose any one of them-
- Bank transfer
It is also known as the wire transfer; in this method, you need to add or enter your bank account number (bank account should be in your name) in the deposit interface. Then you need to begin the transfer from your bank. From the broker account, you will get the reference number you have to enter in the comment section of your transaction. It will help them to identify the transaction you have made.
- By credit or debit card
It is just like the transaction that you on online purchase; you need to enter the regular details of your card. But in other online purchase, you do not require the card that is in your name, but if you are choosing the card for the payment of IC market, then it is important for you o verify your car by scanning or send it to the broker. If you are considering card payment, it is one of the best and convenient ways of depositing money. But there are some times when you cannot pay the larger amount from the card because the broker finds a cap for the card deposit. At that time, you need to use the bank transfer.
- Online wallets
It is exactly the same as when you purchase other things online. Whenever you are depositing money using an online wallet, all you need to do to carry out the transaction is enter the credentials, such as you need to enter your username and password. Once it is done, your transaction will be processed.
These are the few methods you can consider to deposit the money in the account; you can choose any one of them which you think is convenient.
Step #3 Review your transaction
Once you are done with all these things, the next step you need to do is review the transaction you have made through the method mentioned above. It may take some time, such as 2 or 3 days, to show the transaction in your brokerage account. And when the transaction happens, they receive an email from the broker to confirm the receipt of the deposit they made.