| FBS Minimum Deposit Summary | |
|---|---|
| FBS Minimum Deposit | GHS 50 |
| Deposit Methods | Mobile Money, Cards, e-Wallets |
| Account Types | Standard Account, Islamic Account |
| Deposit Fees | 3.5% for mobile money |
| Account Base Currencies | USD, EUR |
| Withdrawal Fees | 2.5% for mobile money |
| Visit FBS | |
FBS minimum deposit is GHS 50.
This review is a breakdown of FBS minimum deposit requirements in Ghana, supported payment methods, associated fees, and how FBS’s minimum deposit compares to other CFDs and forex brokers in Ghana. Let’s find out how much you need to get started with FBS.
What’s the minimum deposit for FBS?
FBS offers only 1 trading account for all traders and the minimum deposit for the FBS account is GHS 50. However, the actual minimum deposit on FBS in Ghana depends on the payment method you are using.
Mobile money payment (MTN MoMo) require a minimum deposit of 50 GHC while cards require a minimum deposit of $5.
Accepted Deposit Methods on FBS Ghana
FBS offers a range of ways to deposit into your trading account:
1) Mobile Money Payment (MTN MoMo, Vodafone): FBS accepts deposits via local mobile money payment, only MTN MoMo is supported for deposits. The minimum amount when depositing via mobile money is GHS 50, it takes about 15-20 minutes for funds to be credited to your trading account. FBS charges deposit fees of 3.5% of the deposit amount per transaction for deposits via mobile money in Ghana.
You can also withdraw to your mobile money account from FBS, MTN and Vodafone are supported for withdrawal. Minimum withdrawal amount is GHS 20, which is processed with 15-20 minutes for you to the receive the funds and can take up to a few days if there is a delay. FBS does charges a fee of 2.5% per transaction for withdrawals to mobile money in Ghana.
2)Credit/Debit Cards (Visa, Maestro): FBS accepts deposits via cards. The minimum deposit when using cards on FBS is €6, funds are generally credited instantly to your trading account. FBS charges zero fees for deposits via cards.
FBS also supports withdrawal to cards, the minimum withdrawal amount on FBS for card withdrawals is €5. It takes about 15-20 minutes for the withdrawal to be processed and can take up to 7 days to receive the funds. FBS charges withdrawal fees, starting from €2 per transaction.
3) E-wallets (Skrill, Neteller and others): You can also make deposits to your FBS account through E-wallets like Skrill and Neteller. The required minimum deposit is $10, it is credited instantly and its free of charge with no deposit fees.
FBS also supports withdrawals to e-wallets like Skrill and Neteller. The minimum amount allowed is $10 for Skrill. Withdrawals are typically processed within 20 minutes and can take up to 48 hours for you to receive the funds. Withdrawal charges for e-wallets starts from 2% per transaction (with a minimum of $1 and max of $30).
Note: CFD trading is risky
FBS Deposit Methods Table
The table below summarizes the deposit methods accepted by FBS for deposits.
| Deposit Methods | Availability | Minimum Deposit | Fees | Processing time |
|---|---|---|---|---|
| Internet banking/bank transfers | Yes | GHS 50 | 3.5% | 15-20 minutes |
| Cards | Yes | €6 | Free | Instant |
| E-wallet (FPX) | Yes | $10 | Free | Instant |
FBS Deposit Rules
1. Deposit Fees: FBS charge deposit fee when you are depositing funds using the mobile money payment option in Ghana. The fee is 3.5% for deposits via MTN MoMo. Although FBS offers free deposits for payment methods like cards and e-wallets. Note that your bank, card issuer or payment processor may charge an independent fee.
2. Deposit Time: You can make deposits to your FBS trading account at anytime. Deposits via cards (Mastercard/Visa) and e-wallet (FPX and Neteller) are credited instantly, while mobile money deposits take 15-20 minutes to be credited.
3. Payment Source: Deposits must come from accounts (banks, cards, e-wallets) held in your own name. You will be required to verify your account before you can deposit using cards. You will need to provide your ID and proof of address to verify your account. You will also be required your phone number.
How do I deposit money into my FBS account?
Step 1: Access your FBS dashboard.
Step 2: Navigate and click on ‘Deposit’ then select for your preferred payment method for deposit.
Step 3: Input the desired amount to add to add to your trading account, then click the ‘Deposit’ button. Follow the prompts to finalize your deposit transaction.
Comparison Of FBS Minimum Deposit With Other Brokers
Here is a comparison of FBS minimum deposit with that of their competitors.
| Broker | Minimum Deposit |
|---|---|
| FBS | GHS 50 |
| Exness | GHS 156 ($10) |
| HF Markets | GHS 65 |
| IC Markets | GHS 3,068 ($200) |
| XM | GHS 77 ($5) |
Note: CFD trading is risky
FBS Minimum Deposit Ghana FAQs
What is the minimum amount to start trading with FBS?
GHS 50 is the minimum amount you can deposit on FBS to start trading. This applies if you are depositing via mobile money (MTN) in Ghana. The minimum amount when depositing with e-wallet is $10 and €6.
What is the minimum withdrawal from FBS trader?
GHS 20 is the minimum withdrawal amount from FBS in Ghana. This applies if you are withdrawing funds to mobile money account (MTN and Vodafone). The minimum withdrawal for cards is €5 and e-wallets is (Skrill) is $10.
How long do FBS withdrawal take?
Withdrawals on FBS are processed 15-20 minutes for mobile money, however, it can take up to 7 days for you to receive the funds in your card. It takes 48 hours for bank accounts and e-wallets (Neteller) to receive the funds.
How long does FBS deposit take?
It takes 15-20 minutes for deposits via Ghana mobile money payments to be credited to your trading account, while cards and e-wallets deposits are credited instantly.
Can I deposit in FBS without verification?
You cannot deposit on FBS without verification. You must first verify your identity and address to activate your account. You will need to submit proof of address and government issued ID card as well as verify your phone via a code.
How much is the deposit fee on FBS
3.5% is the deposit fee on FBS if you are using mobile money in Ghana. FBS offers free deposits when you use cards or e-wallets. However, your payment processor, bank or card may charge an independent fee.
Can I deposit $1 on FBS?
No, the minimum amount you can deposit on FBS in Ghana is GHS 50 via mobile money. The minimum is €6 and $10 for cards and e-wallets respectively.
Does FBS have a GHS account?
No, FBS does not offer a trading account in GHC currency, however, you can make deposits in GHS and it will converted to your trading account currency which is either USD or EUR.
Note: Your capital is at risk