Arguably, the most sought-after platform for forex trading and exchange markets, MetaTrader 5, has been making the headlines for the right reasons. Firstly, the fact that this trading platform is comfortable and multi-functional makes it a number one choice for any online trader.
Apparently, Mt5 offers amazing technical analysis tools and a wide array of trading possibilities for stocks, forex, and futures.
Before the deposit, traders need to open live accounts at the preferred broker (for example open MT5 account at Hotforex). As client, you need to have access to the personal areas at the broker’s website.
But, how do you deposit money to your Mt5 account?
A trader can deposit money in a live MT5 account only if login into the broker’s personal area (members area), and then select a deposit method, insert deposit amount and finish a transaction. A trader can not deposit money using the MT5 platform, he needs to visit the preferred broker website. The broker can load the MT5 live account with funds.
1. CREATE A PERSONAL ACCOUNT
You need to choose right broker.A trader needs to analyze several major brokers. The first step is to register a personal account. The platform allows you to choose a private user name and password that will enable you to deposit and withdraw money from your account.
After your account has been created successfully, you can log in to your account.
2. SELECT A DEPOSIT METHOD
You can use a debit card, credit card, bill payment, bank transfer, Skrill, cheque or some other deposit method. Brokers add new payment methods every day.
Moreover, if you are depositing for the first time, you must wait for the funds to be cleared before you can use them for trading. You will also be requested to send proof of the payment. Bank transfer is only available during working days.
In the case of FBS, you will navigate to the “Financial Operations” on your account and click on the “Deposit Funds” option. This will allow you to deposit money to your account using your credit or debit card.
This is a list of payment options for Hotforex broker:
| Deposit and withdrawal options | Max. Deposit Amount | Min. Deposit Amount | Deposit Time |
|---|---|---|---|
| Wire Transfers | Unlimited | $100 | Funds sent by wire transfer usually take between 2-7 working days to be credited to your account. |
| Credit Card Union Pay | $8,000 | $50 | Up to 24 hours |
| Maestro card | $10,000 | $5 | Up to 10 minutes |
| Mastercard | $7.500 per transaction | $5 | Up to 10 minutes |
| Visa | $10,000 | $5 | Up to 10 minutes |
| Visa Electron | $10,000 | $5 | Up to 10 minutes |
| Bitcoin Cash | $10,000 | $5 | Up to 10 minutes (If bitcoin transaction is confirmed in the network) |
| Bitcoin BTC | $10,000 | $5 | Up to 10 minutes (If bitcoin transaction is confirmed in the network) |
| Bitcoin by Skrill | $500 | $5 | Up to 10 minutes (If bitcoin transaction is confirmed in the network) |
| Crypto payments | $10,000 | $100 | Up to 10 minutes (If transaction is confirmed in the network) |
| FastPay | $5,000 | $5 | Instant |
| Neteller | $50,000 | $5 | Instant |
| Skrill | $10,000 | $5 | Instant |
| Vload | Depends on your VLoad Tier | $10 | Up to 10 minutes |
| Webmoney | $50,000 | $5 | Instant |
3. INSERT THE DEPOSIT AMOUNT
You need to type in the deposit amount that you want your Mt5 account. You will also choose your preferred deposit currency before clicking the “Deposit” button.
4. INSERT YOUR CARD DETAILS or Wallet details
After clicking the “Deposit” button, you will be redirected to a secure payment page that will prompt you to insert your card details. The payment will be made successfully and securely after entering your card number, expiry date, and the CVC/CSC. Remember, depositing to this account is safe and secure, and you don’t have to worry about losing your card details to internet scammers.
If you use wallet deposit methods such as Skrill, PayPal, etc. – then just put amount and make the transaction.
5. DEPOSIT COMPLETE
After completing all the above processes, your funds will be processed, and they will reflect in your account immediately. Your funds will be available for trading in your Mt5 account.
CONCLUSION
At the push of a button, you can deposit money into your Mt5 account without any problems. However, you must note that third party payments are not acceptable, and they will be returned to the payer. Also, cheques from specific banks may require further proof before the money is made available in your Mt5 account. That said and done, Mt5 is an incredible trading platform for any modern trader. It offers a seamless experience that will take your trading to a whole new level.
