| FxPesa Minimum Deposit Summary | |
|---|---|
| FxPesa Minimum Deposit | 0 KES |
| Deposit Methods | Bank wire, E-wallets (Skrill, Neteller), Cards (Visa Card, MasterCard), Mobile Money (MPesa) |
| Account Types | Standard Account, Premier Account |
| Deposit Fees | Free |
| Account Base Currencies | KES, USD |
| Withdrawal Fees | Depending on withdrawal method |
| Visit FxPesa | |
FxPesa’s minimum deposit is 0 KES ($0).
If you’re considering FxPesa as your broker, you might be wondering, “how much do I need to start trading with FxPesa?”
FxPesa is the trading name for EGM securities and is regulated by the Kenyan Capital Market Authority (CMA).
In this article, we extensively discuss the minimum deposit for FxPesa, deposit methods, and deposit rules. We also compare their minimum deposit with other brokers.
What Is The Minimum Deposit For FxPesa?
FxPesa has a minimum deposit of $0, however the actual minimum deposit will depend on the deposit method and the type of account. Here is a quick summary of FxPesa minimum deposit for each account:
Standard Account: The FxPesa Standard Account is designed for both novice and intermediate traders. With a minimum deposit of 0 KES or $0, you have the flexibility to deposit any amount you prefer, and the minimum deposit requirement will depend on the chosen deposit method.
Premier Account: The Premier account caters to experienced and high volume traders, requiring a minimum deposit of 1300 KES ($100).
FxPesa Deposit Methods
FxPesa provides various deposit methods, but these different methods have different minimum deposit requirements.
Keep in mind that if the minimum deposit for your preferred payment method is bigger than your account minimum deposit, you have to deposit the minimum deposit for your payment method.
On the same note, if your account minimum deposit amount is bigger than that of the payment method, you have to deposit the account minimum deposit.
Here is a quick overview of FxPesa deposit methods and their minimum deposit:
Bank Wire
Bank wire deposits require a minimum of 50 USD or 8,000 KES, while the minimum withdrawal amount is also 50 USD. The maximum deposit and withdrawal limits are determined by your third-party financial institution.
E-wallet
FxPesa supports Neteller and Skrill e-wallets for both deposits and withdrawals. The minimum deposit and withdrawal amount for e-wallets is $5, while the maximum deposit and withdrawal amount is $5,000.
Credit/Debit Cards
FxPesa accepts both Visa and MasterCard for deposits, with a minimum deposit of $5 or equivalent and a maximum withdrawal of $1 or equivalent.
Mobile Payment Methods
FxPesa supports deposits using MPesa mobile money payment in Kenya. MPesa has a minimum deposit of 800 KES and a maximum deposit per transaction of 800 KES.
You can withdraw up to 500,000 KES from your MPesa account to fund your FXPesa account.
The minimum withdrawal to MPesa is 10 KES, and the maximum withdrawal per transaction is 150,000 KES. The maximum withdrawal per day is 500,000 KES.
FxPesa Deposit Methods Table
The table below summarizes the deposit methods available on Fxpesa and their minimum deposits.
| Deposit Methods | Availability | Minimum Deposit | Charges | Processing time |
|---|---|---|---|---|
| E-Wallet | Yes (Neteller, Skrill) | $5 or 800 KES | Free | Instant |
| Bank Wire | Yes | $50 or 8000 KES | Free | 1-5 working days |
| Credit/Debit card | Yes (VisaCard, MasterCard) | $5 or 800 KES | Free | Instant |
| Mobile Money | Yes (MPesa) | 800 KES | Free | Instant (First time deposit may take longer) |
FxPesa Deposit Rules
Here are some basic rules you should know and keep in mind about depositing into your FxPesa account
1) Deposit Fee: FxPesa does not charge any deposit fee on any of the deposit methods. However, your third-party financial institution may charge you a fee when you sell to your FxPesa account.
They may charge a withdrawal fee, you should Check your client areas for the withdrawal fee associated with each withdrawal method.
2) Minimum and Maximum Deposit: The amount you are able to deposit will be dependent on the minimum and maximum deposit requirements of your trading account and the minimum and maximum amount per transaction on the third-party transaction institution you are using.
3) ChargeBack: When you deposit using a Credit/Debit card and request to cancel the deposit, your payment provider may charge a cancellation fee.
How Do I Fund My FxPesa Account?
Here is a step by step guide on how to deposit on FxPesa
1) Visit your FxPesa Client Portal
2) Click on ‘Deposit tab’ on the left side of your screen
3) Choose a deposit method
4) Select the account where you will be depositing to
Note: CFD trading is risky
5) Enter the amount you wish to deposit and follow the prompts to complete the process
Comparison Of FxPesa Minimum Deposit With Other Brokers
The table below shows a comparison between the minimum deposit of FxPesa and other brokers.
| Broker | Minimum Deposit |
|---|---|
| FxPesa | $0 (0 KES) |
| Exness | $10 (1,315 KES) |
| HF Markets | $0 (0 KES) |
| Pepperstone | $0 (0 KES) |
| Octa | $25 ((3,300 KES) |
| XM | $5 (KES 670) |
Note: CFD trading is risky
Frequently Asked Questions
Does FxPesa Use MPesa?
Yes, FxPesa uses MPesa as a payment method. This means that you can deposit and withdraw from your FxPesa account using MPesa.
How Long Does FxPesa Withdrawal Take?
Withdrawal from FxPesa typically takes 1-2 working days but may take as long as 15 working days before the transaction is complete.
What Is FxPesa Minimum Deposit In Kenya?
The Minimum deposit for FxPesa in Kenya is 0 KES, however, it may be more depending on the payment method and the type of account.
Note: Your capital is at risk