What is the minimum Deposit’
The minimum Deposit is the minimum amount of money required to open an account with a broker, financial adviser or Bank. It is sometimes called the initial payment or, in the case of Bank accounts, the minimum balance.
Breaking down the ‘Deposit’
Minimum Deposit amounts range from $0 to $10,000 or more in the United States and cover basic costs associated with creating a new account and maintaining it thereafter.
Most of the major brokers will offer retail investors the investment accounts, which can be started with a modest minimum Deposit. Some brokerage firms even offer accounts with no minimum Deposit, so that investors can test their trading platforms and research tools without having to Fund their accounts.
Many of the Robo advisors who provide financial advice and manage your investments online with mild and minimal human intervention, now have lower Deposit limits. The benefit has no minimum account at all.
In addition to the minimum deposits, there are many other factors to consider when choosing a broker or investment Manager last but not least brokerage charges and management fees.