How to Open a Live FOREX Account With American Express
You may deposit funds online into a live FOREX account using major debit and credit cards, such as American Express. Many FOREX brokers have a system in place to accept money transfers from American Express, while some do not. It is a safe and speedy method of funding a live trading account that provides access to the fast-moving foreign exchange market where traders buy and sell world currencies as they rise and fall in value.
Other People Are Reading
Instructions
-
-
1
Choosing a FOREX broker depends on how much you plan to initially deposit. Find an online FOREX broker that you are comfortable with and log on to its website (see the Resources section). You must register for a live account and possibly send a signed application by U.S. Postal Service before depositing funds. While making your decision, you will find that some brokers have trading platforms that are easier to navigate than others. Some FOREX brokers require higher minimum deposits and others offer various levels of customer support based on the size of the initial deposit.
-
2
Type the card numbers correctly when transferring funds to the FOREX account. Look for a tab or icon on the FOREX broker's home page which allows you to make a deposit using American Express. Click on that tab and follow the instructions for entering your American Express card account number, including the four digit security code located just above the account number on the right side of the card.
-
-
3
After your transaction clears, you can trade world currencies. Click "Pay Now" to confirm your money transfer. All credit card and debit card payments are cleared through PayPal. You will then be redirected to the PayPal main page for the payment. If you have a PayPal account, you'll be asked to log in to confirm the payment. If you don't have a PayPal account, you will be asked to re-enter your credit card and personal information. The payment will be confirmed if it matches with the information that you entered previously on the FOREX broker's website.
-
1
Tips & Warnings
If the money transfer occurs outside of normal business hours (9 a.m. to 5 p.m.) or on the weekend (Saturday and Sunday), the account will be credited the next business day.
All American Express payments must come from an account that has the exact same name as the name on the FOREX account.
Corporate American Express cards usually are not accepted for funding FOREX accounts.
References
Resources
- Photo Credit credit card image by NatUlrich from Fotolia.com computers screen 2 image by chrisharvey from Fotolia.com credit card numbers image by Yury Shirokov from Fotolia.com Victory image by Mykola Velychko from Fotolia.com
