Can I Fund a Trading Account With a Credit Card?

Credit cards can fund trading accounts on the foriegn currency exchange.

While most traditional stockbrokers will only accept cashier's checks, personal checks, money orders and wire transfers to fund trading accounts, many Forex brokers will accept those forms of payment as well as major credit cards.

A Fast Transaction

After you find a Forex broker you want to trade through, go to its website, look for the tab that allows you to make a deposit and enter your credit card information along with the amount you want to deposit. Unless the deposit is not approved, your funds should be available immediately in the account.

Limitations Apply

Many Forex brokers, however, have limitations on credit card deposits. Some will set minimum deposits limits of $50 or maximum deposits limits of $1,000 for accounts funded with credit cards, for example.

Use the Phone

If for whatever reason, you're uncomfortable with entering credit card numbers onto a website, you can always call customer service. Forex brokers have customer service representatives working around the clock who can help you use your credit card to make a deposit by phone.

References

• NASDAQ: A Hidden Account Killing Mistake - Using Credit Cards

Resources

• Get Credit Cards: Using Credit Cards to Trade Forex