Deposits & Withdrawals, Skill (eWallet) or Bank Transfer? | Forex Factory

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Deposits & Withdrawals, Skill (eWallet) or Bank Transfer?

  • #1
  • First Post: Oct 27, 2019 10:55am Oct 27, 2019 10:55am
What is the best way you have found to deposit and withdraw funds from your broker?

I was looking at an eWallet option like Skrill as it seems to be a faster and cheaper option compared to a Bank Transfer.

Any thoughts or advice would be appreciated.
  • #2
  • Oct 28, 2019 2:14am Oct 28, 2019 2:14am
I normally do Bank or paypal is a great option withdraw is iminent.

But I would look at reviews on your broker to see what there withdraws are like
  • #3
  • Nov 4, 2019 12:39am Nov 4, 2019 12:39am
Quoting theunkown
I normally do Bank or paypal is a great option withdraw is iminent. But I would look at reviews on your broker to see what there withdraws are like
Which broker would you recommend that accepts PayPal?
  • #4
  • Nov 8, 2019 2:51am Nov 8, 2019 2:51am
Skrill each time, fast, cheap and easy
  • #5
  • Nov 20, 2019 8:47am Nov 20, 2019 8:47am
I will also vote for this skrill ewallet because of the reason that ewallet withdrawals are usually instant as compared to credit/debit cards and bank wire transfers.
  • #6
  • Nov 27, 2019 11:11am Nov 27, 2019 11:11am
I share view of my predecessors. Skrill seems to be the most reasonable option.
I don't know many brokers who provide payments via PayPal. I also don't see problem because it's very easy to set up account on Skrill or another system that supports broker we are interested in.
  • #7
  • Nov 28, 2019 12:53am Nov 28, 2019 12:53am
I withdraw via Paypal all the time now and it's super-fast, much faster than a bank transfer.
  • #8
  • Dec 20, 2019 12:01am Dec 20, 2019 12:01am
I think it depends on the broker which you are using for trading.
But I usually prefer local transfer and bank transfer for financial transactions. I'm happy both these methods are offered by my forex broker named Baazex.
  • #9
  • Dec 21, 2019 3:38pm Dec 21, 2019 3:38pm
Quoting Iddo
{quote} Which broker would you recommend that accepts PayPal?
I use this broker and withdraw via Paypal.
  • #10
  • Dec 25, 2019 4:37am Dec 25, 2019 4:37am
Quoting theunkown
I normally do Bank or paypal is a great option withdraw is iminent. But I would look at reviews on your broker to see what there withdraws are like
lol Paypal will freeze your account in an instant. Skrill is A BIT better but their fees have gone up dramatically, meaning that yes you can receive USD for free from your broker, but then if you want to use that money its gonna cost you a lot to withdraw, or to even use the skrill card (fx rate fee).

Imo the best is SEPA bank transfer, its 1 day and cost less than 1 euro, if you are located in Europe, or actually Bitcoin withdrawals.
  • #11
  • Dec 26, 2019 6:38pm Dec 26, 2019 6:38pm
Quoting rockthepips
{quote} or actually Bitcoin withdrawals.
Who do you use for your Bitcoin/fiat exchange?
  • #12
  • Dec 27, 2019 3:48am Dec 27, 2019 3:48am
Quoting rockthepips
{quote} lol Paypal will freeze your account in an instant. Skrill is A BIT better but their fees have gone up dramatically, meaning that yes you can receive USD for free from your broker, but then if you want to use that money its gonna cost you a lot to withdraw, or to even use the skrill card (fx rate fee). Imo the best is SEPA bank transfer, its 1 day and cost less than 1 euro, if you are located in Europe, or actually Bitcoin withdrawals.
I have being withdrawing via Paypal for nearly 2 years now and have never had a problem with freezing. I never leave any money in my Paypal account though, and withdraw weekly or monthly. I try to avoid having a lot of my funds sitting on any one "virtual" place, in case of any problems, but like I said, so far so good...
  • #13
  • Aug 10, 2020 10:38pm Aug 10, 2020 10:38pm
My first option would be bank wire - though old school, but its the safest method which I trust.

The alternative solution is perfect money - easy and convenient, and most brokers seem to use this payment.
  • #14
  • Last Post: Oct 27, 2020 6:24am Oct 27, 2020 6:24am
Quoting malancy
Does anyone know why there are brokers that charge fees for deposits and withdrawals via skrill? while some brokers do not charge a fee
It is part of the business model. The fees are always present.
Question is if the brokers covers them for you because he is earning money otherwise to compensate these costs.
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