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Credit/Debit cards

Funding your trading account using Credit or Debit cards is also another popular way for traders who want to deposit instantly.

However, the amount you can deposit will depend on the limits enforced by your bank, so traders need to check this first. Secondly, in the event that you want to request a refund because the forex broker is a scam, you can simply chargeback.

However, there are costs involved including having to explain to your bank manager on the transaction. Note that by requesting a chargeback it does not guarantee you will get your money back, therefore traders need to be extra cautious when funding their accounts with Credit or Debit cards.

There is also the risk that the forex broker you use could save your credit card data, and if this data falls into the wrong hands can cause you a lot of trouble.

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