Funding Methods

The minimum deposit is $500 USD (or the equivalent value in other EUR, GBP, AUD, and ZAR).

Wire transfers and crypto transfers are the most common method for clients funding their accounts.

Any available eMerchant services that we currently support (such as Perfect Money etc…), and crypto transfers, are the fastest deposit methods as the transaction is usually instant (although on some occasions these need to be cleared by compliance first).

The downside is that these are often more expensive (so you are paying for the convenience).

Contrary to popular belief wire transfers are typically quite quick. Most land within 1 business day (and sometimes the same business day). On rare occasions the transfers can take up to 3 or more business days, depending on the sending bank. But the vast majority of our bank wire transfers land within 1 business day as we use very large and reputable clearing banks as our custodians.

This depends on the size of the transfer, your jurisdiction, and probably the bank you use.

Sending a bank wire transfer is generally the cheapest option especially for deposits over $5K USD. But this depends on your banking institution. Most client’s banks charge anywhere from $10-$35 for international wire transfers (cheaper for domestic transfers). So on a small transfer this is more impactful, however on a large transaction this is much less significant.

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NO!  This is very important: Please note that as per our AML/KYC protocol, we are unable to accept any form of third-party payments. All funds must come from the sender in the same name as your MT.COOK Financial trading account.

Joint bank account payments are accepted if your name is one of the parties listed as a joint account holder.

Any 3rd party payments may be rejected and returned and may incur significant delays and fees which are to be paid at the expense of the client. This applies to both personal and corporate accounts. Thus, please make sure that the sender making the deposit is the same as listed as the account holder at Mt.Cook.

• Hypothetical Example (personal account): An approved trading account at Mt.Cook in the name of Peter Smith, can only be funded from a bank account (or card or payment processor), also held in the name of Peter Smith. It cannot be funded by any other person or company.
• Hypothetical Example (corporate account): An approved corporate trading account at Mt.Cook in the name of company ABC Inc., can only be funded from a bank account (or card or payment processor), also held in the name of ABC Inc.. It cannot be funded by any other person or company.

Mt.Cook reserves the right to require proof of payment at any time to get clarification on the sender.

All of our current funding methods are listed here. If you have a request for a specific funding method, please contact us and let us know about it – your feedback matters!

Yes. However take note that if you fund a trading account from your bank account or a merchant account which is held in another currency, you will be subject to 3rd party conversions and exchange rates. Banks set their own exchange rates, and so do eMerchant providers so it is always best to inquire with them directly for an accurate exchange rate if this is important to you.

While we cannot personally vouch for the service, many clients who are exchanging funds from an unsupported account currency, often find it beneficial to use a 3rd party discount exchange service (to save fees) such as the Transferwise borderless account: https://transferwise.com/borderless/.