How To Deposit Money To Forex Without Commission in India?
How To Make Deposit with Indian Money to Forex Broker without Commission?
In this blog, we are going to see a tip to deposit money to forex without commission in India for Indian traders who are trading with forex broker.
Disclaimer – This procedure is only for Indian Traders who are trading with AvaTrade.
For this, you have to open 3 accounts.
- AvaTrade – Global Forex Broker
- Astropay – International E-Wallet
- XM – Global Forex Broker providing UPI service in India
Table of Contents
AvaTrade India
AvaTrade provides a trading and broking platform with zero commission and low spread.
Open an Account with AvaTrade with the below link. And Follow the given steps.
To Open an account in AvaTrade –> Click Here…
Step 1: Enter your Email id, Password, and Mobile number, then click Create Account.
(Save your Email Id and Password for future login purposes.)
Step 2: On the next page, Enter the required details like DOB, Address, and Trading Experience details.
Then In Trading Platform Click –> MetaTrader 5 Futures, Base Currency –> USD.
Step 3: Enter profile details like Occupation, Income, and Saving. Then Click submit.
Your Account will be created.
Step 4: Now you have to verify your account. Click menu –> Upload documents –>
1) Upload ID Card Front and Back (Aadhar Card, Passport, National ID, or Driver’s Licence).
2) Upload Utility Bills (bank A/C statements, mortgage statements, Visa statements, vehicle
insurance policy, taxation documentation.) The document must be dated within 6 months
before the current date. The name and Address should be clear in the document.
3) Enter the PAN card number and click submit.
Your Account will be verified soon and you can deposit and start trading.
Astropay India
Astropay is the E-wallet to transfer indian money to a forex broker account (AvaTrade).
Open an Account with Astropay with the below link. And Follow the given steps.
To Open an account in Astropay–> Click Here…
Step 1: Create Account –> Enter your mobile number –> Click Continue
Step 2: Enter the OTP received to your mobile number –> Click Continue
Step 3: In this step, you can enter the password or you also skip this process.
Step 4: Enter Name, DOB (as per in the Aadhar card), and Email Id. –> then your account will be created
Step 5: Verify the account. Go to My Account –> Personal Information –> Fill the Personal data and Address
Step 6: Verify the Email id –> click send verification to mail –> then go to gmail and verify the astropay mail sent to you mail.
Step 7: Validate your identity. –> Scan your Aadhar Front and back –> take a selfie of your face and upload
Validate completed. Your account will be verified to make the transaction.
XM Broker
XM also provides a trading and broking platform but the spread is high compared to AvaTrade.
Open an Account with XM with the below link. And Follow the given steps.
To an Open account in XM–> Click Here…
Step 1: Enter Mail Id, Password, and Partner Code (YBK8F) –> Click Register
Step 2: A verification mail will be sent to your mail id. So go to gmail and verify the mail sent by XM.
Step 3: Enter personal details. Name, DOB, Address (as per in the Aadhar card)
Step 4: Add financial details.
Step 5: Verify your identity. Scan your id card (Aadhar front and back) and take a selfie of yourself.
In a few minutes your account will be activated and you will get an verified to your mail. Then you can make deposit.
AvaTrade Deposit method through AstroPay without Commission
If we deposit in AvaTrade directly through Astropay you have to pay an extra commission of 10%.
But if you do as per our procedure you will not get charged commission by Astropay.
After successfully verifying and completing the account opening process of the AvaTrade, Astropay, and XM, Do the below procedure to avoid commission.
Step 1: Deposit $12 (which is 1250 = 1007+charges) in Astropay through UPI (for the first time only).
Procedure –> Click Add –> Select USD –> Enter $12 –> Make payment through UPI –> Enter UPI id and make the payment in the UPI app. The money will added to your Astropay e-wallet
Step 2: Now Deposit $12 in XM (to activate Astropay in XM).
Login to XM –> Click Deposit –> Click Astropay –> Enter the amount ($12) –> Click declare and deposit –> Enter Astropay mobile no –> Enter OTP –> Then your deposit is completed. Money will be added to your XM account.
Step 3: Now again make a deposit of $90 (approx. Rs.7550) to the XM account through UPI. (this is to transfer $102 = $12+$90 to AvaTrade account).
Procedure –> Login to XM –> Click deposit –> Click UPI –> Enter amount ($90 in indian rupee) –> UPI Id and make payment. –> Then your money will be updated in your XM account. And the amount will be $90+$12 = $102.
Step 4: Now withdraw $102 from XM account to Astropay e-wallet.
Go to XM –> Click withdrawal –> Click Astropay –> Enter the amount ($102) and withdraw –> The amount will be transferred to Astropay e-wallet.
Step 5: After you receive money from XM to Astropay, now you have to transfer it to AvaTrade.
Go to AvaFutures and Login –> Click deposit in the menu column –> Click Astropay –> Enter the amount ($102) and make a deposit –> Amount will be transferred to AvaFutures account. Now you can trade with AvaFutures.
Withdrawal Method from AvaTrade
Step 1: Login to AvaFuture –> Click Withdraw –> Click Astropay –> Enter the required amount and withdraw –> your money will be transferred to Astropay.
Step 2: Now deposit the money into XM.
Login to XM –> Click Deposit –> Click Astropay –> Enter the amount and deposit. –> your money will be transferred from Astropay to XM.
Step 3: Now withdraw the money from XM to Bank Account. Login to XM –> Click withdraw –> Click online bank transfer –> Enter Bank Name, IFSC, Bank Account Number, Branch Name, Bank Address, and Withdrawal Amount (USD).
Your money will be transferred to your bank account.
Links to open accounts
To an Open account in AvaTrade Click Below 👇🏻
To an Open account in Astropay Click Below 👇🏻
To an Open account in XM Click Below 👇🏻
If you have any doubts or need help, please contact Classroom of Traders…
FAQs
Why i have to open XM, Astropay and AvaTrade accounts?
You have to open 3 accounts, because you can transfer Indian money to forex account without commission.
How to deposit AvaTrade without commission?
Deposit into AvaTrade through this process to avoid commission, Deposit money to XM –> Transfer to Astropay –>then deposit to AvaTrade.
How to withdraw money from AvaTrade?
To withdraw money from AvaTrade follow the process, Withdraw money from AvaTrade to Astropay –> then deposit to XM –> and then transfer to your bank account.
