Deposit-WithdrawDeposit And Withdrawal Suggestions
The first step in kick-starting your journey with trading is by making a deposit.
A deposit is the investment capital and not the money you owe your broker.
It can be withdrawn at any instance!
It is very important to know some tips when it comes to depositing or withdrawing your trading money, especially when you are a beginner. Here are some tipswhichyouneed to know:
Be Aware of Your Broker's Pre-Requisites
Every times, brokers request for some proof of identification and address proof while making a deposit, apart from requesting for the above documents while creating your trading account.
This to prevent illegal money from entering into the system and thereby avoiding scams.
Usage of Pre-paid Cards
there are many brokers today who provide the option of making your deposit payments through pre-paid cards.
While these cards seem to be convenient in more ways than one while depositing money, you need to provide your actual bank account details while withdrawing the same.
Ensure that you are not put through this ordeal while you go ahead with the option of paying up through these pre-paid cards.
Your Deposit and Withdrawal Account Should be the Same!
A general clause which is stressed by almost every broker is that the withdrawals which a trader requests for should be in the same account from which he/she deposited the initial capital.
In many cases, traders carry on with the same trading account for years and in the meantime, the initial account from which the deposit was carried out might have been closed down or might have expired due to inactivity. It is important to ensure that this account stays alive to avoid some complications with withdrawal in the future.
Lookout for Bonus Deals
While it is important to ensure that bonuses don't tempt you into choosing the wrong broker, there are some genuine brokers who offer bonuses for the initial deposit which is done.
You may use this money for trading and in most cases, the bonus cannot be withdrawn immediately ..it depends on the contract