FXsol transfer via Paypal | Forex Factory

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FXsol transfer via Paypal

  • #1
  • First Post: Mar 21, 2005 10:55pm Mar 21, 2005 10:55pm
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
  • #2
  • Mar 22, 2005 12:21am Mar 22, 2005 12:21am
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.
  • #3
  • Mar 22, 2005 12:32am Mar 22, 2005 12:32am
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.
  • #4
  • Mar 22, 2005 1:19am Mar 22, 2005 1:19am
Quoting davn
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
  • #5
  • Mar 22, 2005 1:30am Mar 22, 2005 1:30am
Quoting davn
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
  • #6
  • Mar 22, 2005 2:20am Mar 22, 2005 2:20am
Quoting firehorse
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.
  • #7
  • Mar 22, 2005 6:11am Mar 22, 2005 6:11am
Quoting davn
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
  • #8
  • Mar 22, 2005 6:26am Mar 22, 2005 6:26am
As I am not an US citizen, I should pay via Paypal for only a small amount, bank wire for big amounts.

Jeff
For hiring me to program EA's, please PM me.
  • #9
  • Mar 22, 2005 7:29am Mar 22, 2005 7:29am
IFX commerce charges $1.25 for every lot you trade, to make up for the lower PIPs.

Hmmmm...
  • #10
  • Mar 22, 2005 11:16am Mar 22, 2005 11:16am
Quoting davn
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.
Timing is everything.
  • #11
  • Last Post: Mar 22, 2005 11:17pm Mar 22, 2005 11:17pm
Quoting davn
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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