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Who manages to withdraw 5 digits profit consistently?

  • Post #1
  • Quote
  • First Post: Edited Dec 2, 2013 4:40am Dec 1, 2013 7:47pm | Edited Dec 2, 2013 4:40am
The reason I am asking is because I can't seems to find any relevant answer in this search function. So please be kind and truthful to provide productive answer to quench my doubts.

1. Which Broker are using?
2. What is the amount you withdraw?
3. How many successful withdrawal of such amount have you did with this broker?
2. How is the spread/commission?
3. Is there any abnormal behaviour/functionality after/during the withdrawal period?

Thanks in advance if anyone can help me on my doubts. If anyone find it inconvenient to answer here, I welcome your assistance in PM. Much appreciated. Cheers!

Reference:
1. IBFX
2. Etradefx
Pending more reviews from different traders.
The only winner is the one who survive the longest...
1. i use both ibfx and etradefx.....

2. i have withdrawn/transfered up to 35,000 in a single week with etradefx..... my average withdrawal is probably 3 to 5 thousand.... the exact time it takes is not something that i keep track of but with etradefx the money transfers in usually less than 2 hours during normal business hours.....

3. i have never had a single issue with withdrawals using ibfx or etradefx......

4. spreads are also something that i don't keep track of..... but can say for sure, ibfx spreads are what they advertise and etradefx spreads are slightly more..... no commission.....

5. no trouble during or after withdrawals.....

//------

i have 4 accounts with ibfx but only 1 with etradefx..... anyone that uses etrade brokerage and/or etrade bank should look into etradefx......h
to trade and code, keep both simple... no call to impress....h
Quoting kinspk
The reason I am asking is because I can't seems to find any relevant answer in this search function. So please be kind and truthful to provide productive answer to quench my doubts. 1. Which Broker are using? 2. What is the amount you withdraw? 3. How many successful withdrawal of such amount have you did with this broker? 2. How is the spread/commission? 3. Is there any abnormal behaviour/functionality after/during the withdrawal period? Thanks in advance if anyone can help me on my doubts. If anyone find it inconvenient to answer here, I welcome...
An additional useful question to ask is: What method did you use to withdraw? e.g. Wire transfer (whether domestic or foreign), Paypal, payment to debit card etc etc.

I've never withdrawn 5 digits for currency control reasons (staying under radar). But the answers to your questions will be interesting nevertheless.
I'm not trying to convince anyone. I'm not in the "convincing" business.
Citi and FXCM
no issues apart from ID check when withdrawing the huge figures,
no problems so far
  • Post #5
  • Quote
  • Edited 4:05am Dec 2, 2013 3:50am | Edited 4:05am
Quoting kinspk
The reason I am asking is because I can't seems to find any relevant answer in this search function. So please be kind and truthful to provide productive answer to quench my doubts. 1. Which Broker are using? 2. What is the amount you withdraw? 3. How many successful withdrawal of such amount have you did with this broker? 2. How is the spread/commission? 3. Is there any abnormal behaviour/functionality after/during the withdrawal period? Thanks in advance if anyone can help me on my doubts. If anyone find it inconvenient to answer here, I welcome...

1. Armada Markets
2. ~1000 €, more or less.
3. Currently 5 withdrawals
4. Spread + commission = the lowest i have found (also according to the myfxbook). Small fees are very important to me.
5. No.

EDIT:
Quoting skenobi
{quote} An additional useful question to ask is: What method did you use to withdraw? e.g. Wire transfer (whether domestic or foreign), Paypal, payment to debit card etc etc. I've never withdrawn 5 digits for currency control reasons (staying under radar). But the answers to your questions will be interesting nevertheless.
Lol, just found this about FXCM:
http://forexmagnates.com/nfa-fines-f...-clients-back/
Quoting hayseed
1. i use both ibfx and etradefx..... 2. i have withdrawn/transfered up to 35,000 in a single week with etradefx..... my average withdrawal is probably 3 to 5 thousand.... the exact time it takes is not something that i keep track of but with etradefx the money transfers in usually less than 2 hours during normal business hours..... 3. i have never had a single issue with withdrawals using ibfx or etradefx...... 4. spreads are also something that i don't keep track of..... but can say for sure, ibfx spreads are what they advertise and etradefx spreads...
Thanks Hayseed , so far, this is the most relevant answers I received to my question posted. I will further check on reviews of these 2 brokers you mentioned. I had been thinking of banks which are more reliable, but their spreads are too high for my style of trading, and the deposit amount are not suitable to how much I willing to put in for Forex.


Quoting skenobi
{quote} An additional useful question to ask is: What method did you use to withdraw? e.g. Wire transfer (whether domestic or foreign), Paypal, payment to debit card etc etc. I've never withdrawn 5 digits for currency control reasons (staying under radar). But the answers to your questions will be interesting nevertheless.
Thanks Skenobi I mainly use bank withdrawal and credit/debit cards. But cards are limit to the deposit amount.


Quoting Danny Maina
Citi and FXCM no issues apart from ID check when withdrawing the huge figures, no problems so far
Thanks Danny, appreciated your response I used FXCM many years ago, but they no longer provide services to some of the Asia client.


Quoting olympus999
{quote} 1. Armada Markets 2. ~1000 €, more or less. 3. Currently 5 withdrawals 4. Spread + commission = the lowest i have found (also according to the myfxbook). Small fees are very important to me. 5. No. EDIT: {quote} Lol, just found this about FXCM: http://forexmagnates.com/nfa-fines-f...-clients-back/
Thanks Olympus, I am not worry of 4 digits amount cos I have no issue with my broker, but I am worry about 5 digits and more because I used to have bad experience with scam broker when I managed to compound huge profits for withdrawal, all sorts of stunts performed by them to drag for months for my profit.

Thanks guys, Appreciate a lot you take time to response.
The only winner is the one who survive the longest...
Quoting olympus999
Lol, just found this about FXCM
Hi Olympus,

The NFA action you mentioned from 2011 had to do with positive slippage not being passed on in full when transactions were offset with liquidity providers prior to 2010, when we made enhancements to our platform to pass on all positive slippage.

http://img232.imageshack.us/img232/2...ppagestats.jpg


Since 2010, FXCM clients have received positive slippage whenever it's available even while some forex brokers do not offer this till today, and instead use practices such as re-quotes to the disadvantage of their traders. There are no re-quotes or dealer intervention when trading with FXCM. Your orders are filled dependent on liquidity and can experience positive or negative slippage. Unfortunately for traders that do get re-quotes, their broker is more than happy to fill them at the price they request when the market is moving against them, but re-quotes them with a worse price when the market moves in their favor.

How many times have you ever experienced a re-quote in your favor for a better price or received positive slippage on a limit when spread betting? With FXCM, our traders get no re-quotes and benefit from positive slippage. That is why we highlight strategies to help traders maximize positive slippage and minimize negative slippage.
Quoting kinspk
I used FXCM many years ago, but they no longer provide services to some of the Asia client.
Hi Kinspk,

The only recent change in Asia is that we are no longer able to accept clients from Singapore, but I notice your forum profile mentions that you live in Taiwan, where we still accept clients. Also, I'd like to address your main question about finding a broker with good spreads and from which you can withdraw 10k+ safely.

You might be interested in the Active Trader program which is available to traders who deposit at least 25k or trade at least 10M per month in notional volume. In addition to providing lower transaction costs, the program provides additional benefits to clients including free wire transfers. This benefit allows you not only to make free withdrawals, but we can even reimburse you for the wire transfer fee charged by your bank when you make a deposit. While FXCM offers other deposit and withdrawal methods, a wire transfer is the fastest and most secure method for 10k+ amounts.

Spreads are important, but they are just one factor out of many to consider when choosing a broker along with 24 hour customer support, trading platforms offered, education, resources, etc. We seek to provide competitive spreads while also delivering great execution and a safe place for you to hold your funds.

It's no secret that the brokerage industry has been in the midst of a price war for the past couple of years. That combined with lower trading volumes last year have caused many brokers to struggle. There was even a broker in Europe that went bankrupt after trying to entice clients with 0 pip spreads. Last year also saw the failure of a US broker that had previously touted their razor thin spreads.

If recent events have taught us anything, it's that the financial stability of the broker you choose can have far greater implications than we previously thought. Unfortunately, the vast majority of forex brokers are privately held companies, so it's hard to know the state of their finances. Are they profitable, or are they barely staying afloat? How can you know whether they are safe place to keep your money?

FXCM is a publicly-traded company (NYSE ticker: FXCM), so information regarding our financial data is readily available. This is one of the reasons why traders have entrusted us with $1.171 billion in client funds as of the latest publicly available data.

Jason
Quoting kinspk
{quote} Thanks Hayseed , so far, this is the most relevant answers I received to my question posted. I will further check on reviews of these 2 brokers you mentioned. I had been thinking of banks which are more reliable, but their spreads are too high for my style of trading, and the deposit amount are not suitable to how much I willing to put in for Forex. {quote} Thanks Skenobi I mainly use bank withdrawal and credit/debit cards. But cards are limit to the deposit amount. {quote} Thanks Danny, appreciated your response I used FXCM many...
So, what the brokers you are use now?
Quoting Jason Rogers
{quote} Hi Kinspk, The only recent change in Asia is that we are no longer able to accept clients from Singapore, but I notice your forum profile mentions that you live in Taiwan, where we still accept clients. Also, I'd like to address your main question about finding a broker with good spreads and from which you can withdraw 10k+ safely. You might be interested in the Active Trader program which is available to traders who deposit at least 25k or trade at least 10M per month in notional volume. In addition to providing...
Thanks Jason for checking it up, as you said, presently where I reside doesn't allow me to use FXCM. I had also contacted FXCM yesterday to double check on the latest status, as informed by FXCM service staff, the regulation are still restricting us from having account with FXCM. Appreciate your assistance, I will look for other alternatives as recommended by other traders.
The only winner is the one who survive the longest...
Quoting saveinves
{quote} So, what the brokers you are use now?
Hi Saveinves, thanks for visiting.



PS: I will like to keep this thread as clean as possible clearing doubts many may have, the information provided by some of our kind traders may be beneficial to any of us in the future, so only reply with the relevant answers. Appreciate and thanks!
The only winner is the one who survive the longest...
I am an FXCM Active Trader Client and am very happy with them

1. Which Broker are using? - FXCM
2. What is the amount you withdraw? - 10K-50K many times per year via no charge wire
3. How many successful withdrawal of such amount have you did with this broker? - At least 20
2. How is the spread/commission? - Great. Active Trader clients get reduced spreads. No comissions
3. Is there any abnormal behaviour/functionality after/during the withdrawal period? - Absolutely None
Quoting yazzie
I am an FXCM Active Trader Client and am very happy with them 1. Which Broker are using? - FXCM 2. What is the amount you withdraw? - 10K-50K many times per year via no charge wire 3. How many successful withdrawal of such amount have you did with this broker? - At least 20 2. How is the spread/commission? - Great. Active Trader clients get reduced spreads. No comissions 3. Is there any abnormal behaviour/functionality after/during the withdrawal period? - Absolutely None
they charge $7.00 round tun on 100k trade size
Quoting PoundTrader
they charge $7.00 round tun on 100k trade size
Not sure where you get that? The spread is based upon the pair you are trading and is variable not Flat. I trade EUR/LPY. GBP/JPY, and EUR/USD and don't pay anywhere near $7 on standard lot
Quoting yazzie
{quote} Not sure where you get that? The spread is based upon the pair you are trading and is variable not Flat. I trade EUR/LPY. GBP/JPY, and EUR/USD and don't pay anywhere near $7 on standard lot

Maybe he read their website

http://content.screencast.com/users/...01-13_1556.png
Quoting yazzie
{quote} Not sure where you get that? The spread is based upon the pair you are trading and is variable not Flat. I trade EUR/LPY. GBP/JPY, and EUR/USD and don't pay anywhere near $7 on standard lot
Quoting PoundTrader
{quote} im not talking about spreads im talking comissions, you didnt know you pay comissions {image}
Perhaps I could address some possible confusion here. FXCM offers Active Trader clients the choice of either trading on a raw spread + commission structure or on a structure where the commission is already built into the spread as a pip markup. It comes down to personal preference, but either way the transaction costs on Active Trader accounts are about 40% lower than our retail spreads.
Quoting Jason Rogers
{quote} {quote} Perhaps I could address some possible confusion here. FXCM offers Active Trader clients the choice of either trading on a raw spread + commission structure or on a structure where the commission is already built into the spread as a pip markup. It comes down to personal preference, but either way the transaction costs on Active Trader accounts are about 40% lower than our retail spreads.
thanks for clearing that up, didnt know you guys offer that
Quoting Jason Rogers
{quote} {quote} Perhaps I could address some possible confusion here. FXCM offers Active Trader clients the choice of either trading on a raw spread + commission structure or on a structure where the commission is already built into the spread as a pip markup. It comes down to personal preference, but either way the transaction costs on Active Trader accounts are about 40% lower than our retail spreads.
jason is the active trade demo with commision mark up with the spreads are with out?
Quoting PoundTrader
{quote} jason is the active trade demo with commision mark up with the spreads are with out?
The Active Trader demo you can sign up for on our website already has the commission built into the spread as a pip markup. That means there is no additional commission charged on top of the spread you see. However, if you prefer to trade on a spread + commission structure, the demo registration email you receive from us will include the contact details for one of our Active Trader account specialists. You can speak with them about setting up a customized demo account.
Quoting Jason Rogers
{quote} The Active Trader demo you can sign up for on our website already has the commission built into the spread as a pip markup. That means there is no additional commission charged on top of the spread you see. However, if you prefer to trade on a spread + commission structure, the demo registration email you receive from us will include the contact details for one of our Active Trader account specialists. You can speak with them about setting up a customized demo account.
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