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DEPOSIT FUNDS
FXDD requires a minimum initial deposit of $500 to open a mini account and $5,000 for a standard account. Funds can be transferred to FXDD by a bank wire, check or through PayPal.
Wire Instructions
Wiring of funds is the preferred and the fastest way to transfer funds. Please allow 1-2 days business days for the funds to be credited to the customer's account.
JPMorgan Chase
Bank Address:
1 Chase Manhattan Plaza
NewYork, NY 10005
Swift Code: CHASUS33
ABA Number: 021000021
Account Name (Beneficiary): FXDirectDealer, LLC
Account Number: 066654637
Special Instructions: (Please specifiy your name and FXDD account information here)
Mailing a Check
Checks should be sent to our New York Office at the following address:
FXDD
75 Park Place - 4th Floor
New York, New York 10007
Attention Customer Accounts
FXDD does not assume responsibility for checks that are sent via the mail, nor will we consider funds available for trading until they have been deposited, cleared and credited to the customer's account. This generally takes 5 business days from the time the check is received.
Restrictions prohibit FXDD from accepting cash or cash equivalents such as money orders, cashiers checks, travelers checks or personal checks from an individual that is different from the account applicant (a third party).
Transfer by PayPalŪ
Clients may send funds to FXDD using PayPal services as an alternative to sending a wire transfer or check. Services provided by PayPal are independent of FXDD, as PayPal is not an affiliate or subsidiary of FXDD. Furthermore, using PayPal as a means of transferring funds is only within the discretions of each individual customer. FXDD does not endorse or recommend usage of PayPal over any other form of payment. FXDD will credit the customer's trading account within 3-4 business days of receiving confirmation of the customer's PayPal transaction.
Customers may only fund an account with FXDD once their account is approved and they have received an email with an FXDD account number. Any payments sent to FXDD must match the customer's name and account number held at FXDD, in accordance with the acting financial regulations and the Patriot Act. FXDD does not accept third party payment and neither executes third party payments, nor guarantees the receipt or the return of such payments.
Transactions are limited to a minimum of $100 per transaction and maximum of $2,000 a day.
Clients can also deposit by credit cards through PayPal.
How to Fund an Account with PayPal:
To read more about PayPal services and policies, please read the instructions and the disclosures posted on the PayPal Website thoroughly: www.paypal.com . FXDD recommends that all policies and procedures regarding transfer, fees, etc. are clearly understood by the customer prior to opening an account with PayPal or using their services.
Clients may not withdraw funds from their FXDD account using PayPal services. All withdrawal requests must be processed via wire transfer or check by FXDD.
Given the possibility of losing your entire investment, speculation in the foreign exchange market should only be conducted with risk capital funds that if lost will not significantly affect your financial well-being.
DEPOSIT FAQ's
Q: Do you accept credit cards as the deposit/withdrawal method for the accounts?
A: Yes, we accept credit cards through PayPal.
Q: What bank is FXDD using for customer deposit?
A: FXDD uses JPMorgan for customer deposits.
Q: Can funds be transferred from a different bank account other than my own?
A: Funds can only be transferred from the bank account listed on the form, or a matching name from a different banking account.
Q: How long does it take for my money to hit the system by personal check?
A: It usually takes 5 business days to clear a personal check, but of course we will be monitoring the account and we will notify you immediately.
Q: Do you charge a wiring fee?
A: No, FXDD does not charge a wiring fee for incoming and outgoing wires.
Q: How can I withdraw funds from my account?
A: To download the Funds Redemption Form, please click here.
The FXDD Funds Redemption form needs to be filled out and submitted by E-mail or FAX at +1.212.937.3845. Please note that the US federal law prohibits FXDD from redeeming funds to a bank account or person that is different than the name and account used to initially open the account.
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Q: What currencies can I deposit?
A: FXDD only accepts deposits in USD.
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