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Broker funding options with card

  • #1
  • First Post: Jan 21, 2020 9:24am Jan 21, 2020 9:24am
I have recently discovered that Revolut and Transferwise list the forex brokers as unsupported merchants for their cards, on the other hand Skrill's taxes are becoming absurdly high. Seems strange to me but unfortunately there is nothing to be done except to look for a similar fintech which supports transactions to forex brokers. For the moment I'm considering to try N26, however other ideas are welcome.
  • #2
  • Edited 11:14am Jan 25, 2020 9:41am | Edited 11:14am
Which broker do you trade with? If you want you may use perfectmoney, withdrawing commission is 0.5% if you are on FBS.
Risk Management is of utmost importance!
  • #3
  • Feb 4, 2020 4:33am Feb 4, 2020 4:33am
I tried many brokers and I see only big brokers can offer multiple payment methods. Most brokers have Skrill, Neteller and Visa/Master.
  • #4
  • Feb 6, 2020 4:51am Feb 6, 2020 4:51am
Quoting asrona
I tried many brokers and I see only big brokers can offer multiple payment methods. Most brokers have Skrill, Neteller and Visa/Master.
Yes I agree, also Paypal. Here's an example.
  • #5
  • Feb 6, 2020 3:35pm Feb 6, 2020 3:35pm
I read that a lot of people had problems with Paypal like frozen accounts etc. and unfreezing could take months. Although Paypal is convenient but the risk is high in my opinion.
  • #6
  • Feb 7, 2020 6:05am Feb 7, 2020 6:05am
Quoting retrofuture
I read that a lot of people had problems with Paypal like frozen accounts etc. and unfreezing could take months. Although Paypal is convenient but the risk is high in my opinion.
I just withdraw smaller amounts regularly and never leave a balance in my Paypal account.
  • #7
  • Feb 12, 2020 6:18am Feb 12, 2020 6:18am
Quoting retrofuture
I read that a lot of people had problems with Paypal like frozen accounts etc. and unfreezing could take months. Although Paypal is convenient but the risk is high in my opinion.
yup I had this exact issue w paypal, had 4-5k$ frozen entirely and it took me weeks to finally get the money
I deleted my account after that
  • #8
  • Nov 13, 2020 3:30am Nov 13, 2020 3:30am
Re: Revolut, they support bank transfers to Interactive Brokers and other brokers. Bank transfers have a reputation for being slower than card payments, but mine have always been processed on the day by Revolut and Interactive Brokers.
  • #9
  • Last Post: Nov 14, 2020 8:53am Nov 14, 2020 8:53am
If you choose a visa or paytrust then free for FP Markets is free for both deposit and withdrawal.
As for Skrill and other methods, FP Markets may apply a 1-2% fee for withdrawals.
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