At Orbex, we make sure we provide a wide range of payment methods to ensure
you are able to fund your account with ease.
Here’s what you need to keep in mind when making your first deposit?
- Your Wallet Account currency VS your Trading Account currency
- The amount deposited
Note: Orbex accepts payments ONLY from accounts in the client's name. Any payments from third-party accounts will not be accepted and will be refunded.
Wallet Account Currency VS Trading Account Currency
When making your first deposit, please make sure that your Wallet Account
currency is the same as that of your Trading Account.
Otherwise, the funds deposited in your wallet account will be converted into your trading account currency, at the applicable foreign exchange rate, before being added to your trading account.
Tip: You can have Wallets in all of the available depositing currencies.
The Amount Deposited
When it comes to the amount of money you should deposit, here are a few things to consider beforehand:
- Minimum deposit requirements based on account type: Orbex offers a variety of Account Types, and for each, there’s a minimum deposit requirement. To view the types offered and the minimum deposit requirements for each, please click here.
- Leverage and Margin: it is a good idea to check if the amount deposited is sufficient to open trades based on your current leverage setting.
- In other words, you need to ensure that your available account margin is enough to sustain the positions you’d like to open using your available leverage. To calculate your required margin and position size, you may also use our free currency and pip value calculators.
Please visit the Payment Methods section in our Help Desk to learn more about our available payment methods.
What is the Orbex Wallet?
The Orbex Wallet is simply an account that you can use to store funds and make deposits, withdrawals, and internal transfers to and from your trading accounts.
Storing your funds in your Wallet also protects you from risking the entirety of your investment since your funds cannot be used as available margin and are stored separately from the funds in your trading accounts.
Where can I access my Wallet Account?
You can access your Wallet via your MyOrbex area once your KYC is fully complete. Upon logging in, you can see your Wallet on the right side of your client area.
You can also access your Wallet from the left sidebar menu. Inside, you can see all of your Wallet accounts and their current balances.
Deposit, Withdraw, and Transfer options are also available within the Wallet Dashboard.
How can I see the transaction history of my Wallet account?
You can see your transaction history through the History option, found on the right side of your Wallet Dashboard.
Can I have more than one Wallet account?
Yes, you can have up to 4 different wallet accounts, one for each of our available depositing currencies:
Can I use my Wallet account for trading?
No, you can only use the Wallet accounts for storing funds and making deposits, withdrawals, and internal transfers to and from your trading accounts.
Am I only allowed to deposit and withdraw funds from my Wallet account?
You may directly deposit into your trading account. However, when withdrawing funds, you can only withdraw from your Wallet account.
I deposited funds into my Wallet account, but my trading account is in a different currency, will there be an issue in transferring funds into it?
You can still transfer funds from your Wallet account to your Trading Account, even if they are of different currencies. However, it is suggested that your Wallet Account is in the same currency as your Trading Account.
Alternatively, the funds deposited in your wallet account will be converted into your trading account currency, at the prevailing foreign exchange rate, before being added into your trading account.
Things to consider about the Wallet Account:
- If a wallet is funded but there are no submitted identification documents and/or the provided documents are invalid, we will not verify the application until all due diligence processes are completed.
- If a wallet account is funded and a withdrawal is requested without being verified, or without trading activity, or with minimal trading activity, the client will be subjected subject to any and all Deposit/Withdrawal fees.
- Deposits can be added to your Wallet and/or Trading Account, but withdrawals can ONLY be requested via the Wallet account
- Funded Wallet accounts that remain unverified will be refunded back to the same source after fifteen (15) days from the date of deposit, after which point, we will proceed to terminate these accounts.