FIRST MARKETS Deposit

first markets Deposit & Withdrawal Guide 2025: Methods, Limits, and Processing Times Explained

Part 1: first markets Minimum Deposit Requirements

first markets Minimum Deposit Explained

The minimum deposit required to start trading with first markets is $100 USD. This applies to both Standard and Raw accounts under the MetaTrader platform.

Account-Type Comparison:

• Standard Account: $100 minimum deposit, no commission, spreads from 1.0 pip.
• Raw Account: $100 minimum deposit, $3 commission per side, spreads from 0.0 pips.

Advantages:

1. Low Entry Barrier: The $100 minimum deposit makes it accessible for beginner traders.
2. Flexible Account Options: Traders can choose between commission-free and low-spread accounts.
3. Regulated Environment: First markets is regulated by ASIC (Australia) and CySEC (Cyprus), ensuring a secure trading environment.
4. Diverse Trading Options: Access to a variety of trading instruments including forex, commodities, and cryptocurrencies.

Disadvantages:

1. Limited Advanced Features: Some advanced trading tools may require higher deposits or different account types.
2. Commission on Raw Accounts: Traders opting for the Raw Account will incur commissions on trades.
3. Currency Conversion Fees: If depositing in a currency other than USD, conversion fees may apply.
4. Withdrawal Restrictions: Withdrawals must be made to the same source as the deposit, which can limit flexibility.

Competitor Comparison:

Compared to other brokers, first markets' minimum deposit is competitive, especially when considering the range of trading instruments available. Many brokers require higher minimum deposits, often starting at $200 or more.

Part 2: first markets Deposit Methods

first markets Deposit Methods Comprehensive Guide

Available Deposit Methods:

1. Bank Transfer

• Processing Time: 1-3 business days
• Fees: Typically free, but may incur bank charges
• Availability: Global
• Limits: Minimum $100
• Pros: Secure and reliable
• Cons: Slower processing time compared to e-wallets

1. Credit/Debit Cards (Visa, MasterCard)

• Processing Time: Instant
• Fees: No fees from first markets, but card issuer fees may apply
• Availability: Global
• Limits: Minimum $100
• Pros: Quick and easy to use
• Cons: May not be available for all countries

1. E-Wallets (Skrill, Neteller)

• Processing Time: Instant
• Fees: Generally low or no fees
• Availability: Global
• Limits: Minimum $100
• Pros: Fast transactions
• Cons: Requires account setup with the e-wallet provider

1. Cryptocurrency (e.g., USDT)

• Processing Time: Up to 1 hour
• Fees: Varies by network
• Availability: Depends on jurisdiction
• Limits: Minimum $100
• Pros: Decentralized and secure
• Cons: Volatility in cryptocurrency value

1. Local Payment Options (Interac, etc.)

• Processing Time: Instant to 1-2 business days
• Fees: Typically free
• Availability: Specific regions (e.g., Canada for Interac)
• Limits: Minimum $100
• Pros: Convenient for local users
• Cons: Limited to specific countries

Supported Currencies:

• USD, AUD, EUR, GBP, and various cryptocurrencies.

Recommended Methods:

• For speed, credit/debit cards and e-wallets are recommended. For security, bank transfers are preferred.

Part 3: first markets Deposit Process

first markets Deposit Steps Explained

Step-by-Step Deposit Procedure:

1. Log into your first markets account.
2. Navigate to the 'Funding' section.
3. Select 'Deposit' and choose your preferred method.
4. Enter the deposit amount (minimum $100).
5. Complete the required details and confirm the transaction.

Mobile vs Web Platform Differences:

• The deposit process is similar on both platforms, but the mobile app may have a more streamlined interface.

KYC/Verification Notes:

• Users may need to complete KYC verification before making their first deposit. This typically includes providing identification documents.

Common Issues and Solutions:

• Transaction Failures: Ensure that the payment method is valid and has sufficient funds.
• Delayed Processing: Contact customer support if funds do not appear within the expected timeframe.

Typical Fund Crediting Times:

• Deposits via credit/debit cards and e-wallets are usually instant, while bank transfers may take 1-3 business days.

Part 4: first markets Withdrawal Methods

first markets Withdrawal Methods Overview

Available Withdrawal Channels:

1. Bank Wire Transfer

• Processing Time: 2-5 business days
• Fees: No internal fees, but banks may charge
• Supported Currencies: USD, AUD, EUR, GBP
• Limits: Minimum $100
• Pros: Reliable for large amounts
• Cons: Slower processing time

1. Credit/Debit Cards

• Processing Time: 3-5 business days
• Fees: No fees from first markets
• Supported Currencies: USD, AUD, EUR, GBP
• Limits: Minimum $100
• Pros: Familiar method for many users
• Cons: Not available for all countries

1. E-Wallets (Skrill, Neteller)

• Processing Time: Instant to a few hours
• Fees: Generally low or no fees
• Supported Currencies: USD, AUD, EUR, GBP
• Limits: Minimum $100
• Pros: Fast and convenient
• Cons: Requires prior deposit via the same method

1. Cryptocurrency

• Processing Time: Instant
• Fees: Varies by network
• Supported Currencies: BTC, ETH, USDT
• Limits: Minimum $100
• Pros: Fast and secure
• Cons: Volatility in cryptocurrency value

Recommended Withdrawal Options:

• For speed, e-wallets are recommended. For reliability, bank wire transfers are preferred.

Part 5: first markets Withdrawal Process

first markets Withdrawal Steps Explained

Step-by-Step Withdrawal Instructions:

1. Log into your first markets account.
2. Go to the 'Funds' section and select 'Withdraw'.
3. Choose your preferred withdrawal method.
4. Enter the amount you wish to withdraw (minimum $100).
5. Confirm your bank or wallet details and submit the request.

ID Verification Requirements:

• Users may need to provide identification documents to verify their identity before processing withdrawals.

Expected Fund Arrival Time:

• E-wallet withdrawals are typically instant, while bank wire transfers may take 2-5 business days.

Typical Delay Reasons and How to Resolve Them:

• Verification Issues: Ensure all documents are submitted and verified.
• Bank Processing Times: Contact your bank if funds are delayed beyond the expected timeframe.

FAQs – first markets Deposits & Withdrawals

1. What is the minimum deposit for first markets？

• The minimum deposit for first markets is $100 USD.

1. How long do withdrawals take？

• Withdrawals can take anywhere from instant (for e-wallets) to 2-5 business days (for bank wire transfers).

1. Are there fees for deposits or withdrawals？

• First markets does not charge internal fees for deposits or withdrawals, but third-party fees may apply.

1. Can I use the same method for both deposits and withdrawals？

• Yes, withdrawals must be made to the same method used for deposits.

1. Does first markets support cryptocurrency or local payment methods？

• Yes, first markets supports cryptocurrency deposits and withdrawals, as well as local payment methods like Interac for specific regions.