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-   -   FXsol transfer via Paypal (https://www.forexfactory.com/showthread.php?t=1755)

davn Mar 21, 2005 11:55pm | Post# 1

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.

Thanks

davn Mar 22, 2005 1:21am | Post# 2

Went about shopping for a new brokerage and I came across this.

http://www.tradingintl.com/brokercomparison.htm

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.

davn Mar 22, 2005 1:32am | Post# 3

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.

firehorse Mar 22, 2005 2:19am | Post# 4

An alternative to Paypal is wiring the money
 
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.

Thanks
Hi,

That 2.9% was a bit steep for me too, so I'm in the process of wiring the money.

http://www.fxsol.com/open-accounts/deposit_funds.fx

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.

Alan

firehorse Mar 22, 2005 2:30am | Post# 5

Check would be cheaper than 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.

Thanks
Or if you wanted more time to practice, you can always send a check!

Alan

davn Mar 22, 2005 3:20am | Post# 6

Or if you wanted more time to practice, you can always send a check!

Alan
Hi Alan, thanks for the reply.

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.

firehorse Mar 22, 2005 7:11am | Post# 7

Hi Alan, thanks for the reply.

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.
Hi,

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!

Alan

fxtrader625 Mar 22, 2005 7:26am | Post# 8

As I am not an US citizen, I should pay via Paypal for only a small amount, bank wire for big amounts.

Jeff

davn Mar 22, 2005 8:29am | Post# 9

IFX commerce charges $1.25 for every lot you trade, to make up for the lower PIPs.

Hmmmm...

redart Mar 22, 2005 12:16pm | Post# 10

Hi Alan, thanks for the reply.

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.
FOREX.com allows deposit by credit card. Pay your credit card before you are charged interest, and you have a free wire transfer.

Dean47 Mar 23, 2005 12:17am | Post# 11

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.

Thanks
It's probably too late for this but most brokerages will transfer funds directly to another brokerage upon your request. Guess what-there is a charge for that as well. It might be better than 2.9%,however.


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