FXsol transfer via Paypal
I closed my account with FXCM yesterday and opened an account with FXSol today, and realised that for FXsol, the depositing of funds for amounts less than USD$10K is through Paypay which charges 2.9%+0.30 cents.
That would mean $29.30 is deducted for every $1000.00 deposited.
Should I go back to FXCM? or does anybody know if there's any other brokerage out there that offer1K lot sizes?
Don't know what you guys may think, but $29.30 is a lot to me if since it would be used for the margin in my account.
Went about shopping for a new brokerage and I came across this.
A comparison of Forex brokerages on the net. On it, you can find that FXCM looks to be the biggest in the business
I'll leave it to you guys to decide.
IFX Commerce has the lowest PIP spreads among all and they only deal with minis.
IFX Commerce demo
Just singed up for a demo account with IFX commerce, and their trading station is actually Java based, they do have a browser based trading station if I'm not wrong. Theirs is a simple trading station without the bells and whistles compared to the others.
Anybody using IFX commerce as their brokerage? any comments?
Their parent company is located in London.
An alternative to Paypal is wiring the money
That 2.9% was a bit steep for me too, so I'm in the process of wiring the money.
But you can't win them all! "JPMorgan Chase Bank reserves the right to charge $15-$25 on all incoming wires." But it's better than 2.9% for me.
Check would be cheaper than paypal
I'm not a US citizen, sending a check from here would take 14 days to get there, plus the admin charges amounts to daylight robbery . Thus the only option available to me is wire/credit card or paypal.
I'm not a US citizen either.
A foreign cheque will cost me £10. Wire transfer £25. I'm going for wire transfer as I don't want the hassle of the cheque going missing!
As I am not an US citizen, I should pay via Paypal for only a small amount, bank wire for big amounts.
IFX commerce charges $1.25 for every lot you trade, to make up for the lower PIPs.
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