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Attachments: Help needed in OANDA + users from Malaysia
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Help needed in OANDA + users from Malaysia

  • #81
  • Nov 17, 2008 5:58pm Nov 17, 2008 5:58pm
hi traders,i had a freezing platform with fxcm.most of experience traders claims this is to volatility of the market. i just can't accept that lame excuses.after a while i've been lurking to many websites searching for reliable brokers.it seems like all of them got certain issues. can anyone recommend a reliable and trusted broker.if you read forexarmy review it's scary.some of them even freeze their client account for being to succesful.
STAMPEDE BULL VS BEAR
  • #82
  • Dec 8, 2008 9:47pm Dec 8, 2008 9:47pm
Anyone here deposit more than USD50,000 with OANDA??

Our deposits with OANDA are not guaranteed. That makes me feel
unsafe.. Some say most Malaysian deposit around USD 3000 in forex account.
  • #83
  • Dec 9, 2008 12:46am Dec 9, 2008 12:46am
Quoting MscWorld
Anyone here deposit more than USD50,000 with OANDA??

Our deposits with OANDA are not guaranteed. That makes me feel
unsafe.. Some say most Malaysian deposit around USD 3000 in forex account.
50K so much money better you play with future FX currency that is better place with big money ...what i read with this forum forex is unregulated better play with small money to learn with price action and etc then go to future for make big money this only my opinion
  • #84
  • Mar 7, 2009 11:07pm Mar 7, 2009 11:07pm
hi

i am a newbie, was trading demo for quite a while ith various mt4 paltforms, inten to go lie trading and plan to use oanda. can anyone tell me if depossit and withdrawl thru paypal will incur any commissions . will it be net net.

tks
  • #85
  • Mar 9, 2009 7:29am Mar 9, 2009 7:29am
there is a very easy way if you want to fund live account for practice, fee is higher in % point of view but bank wire fee is saved, not sure if you're aware...

i) open 2 paypal accounts under your name (allowed)
ii) use credit card to fund 1 paypal account (need credit card hook-up, about 2-3 days)
iii) then use 1st paypal account to send money to the other paypal account, the receiving acc must be a premium account type
iv) then use 2nd paypal account to fund o&a
v) fund will be in the next morning

there will be about 2 times fee charged for step ii) and step iv)

however this is easiest way to practice from a live account rather than blow up a thousand$ account in a week.

initially I tried to fund 2$ and got more than 1$ finally,
and the transaction history even show down to 1pip P/L for your 1$ position.

if you pay 11$ I think you got something close to 10$ eventually... then you can open 100$ position and each pip is 1cent.

Quoting Yngwie
Its so hard to TT the money to Oanda. I don't know how you guys do that. Any of banks in Malaysia required document from Oanda.. and i just fed up! The easiest way and the faster ever for funding using Maybank.. but the fee is quite high of course! BUT only a few hours.. we can trade live!
  • #86
  • Mar 10, 2009 11:08pm Mar 10, 2009 11:08pm
Quoting billye
there is a very easy way if you want to fund live account for practice, fee is higher in % point of view but bank wire fee is saved, not sure if you're aware...

i) open 2 paypal accounts under your name (allowed)
ii) use credit card to fund 1 paypal account (need credit card hook-up, about 2-3 days)
iii) then use 1st paypal account to send money to the other paypal account, the receiving acc must be a premium account type
iv) then use 2nd paypal account to fund o&a
v) fund will be in the next morning

there will be about 2 times fee charged for...
hi can you pls explain why i should, transfer frm one paypal accnt to another paypal accnt and then fund oanda.

i already hv my credit card hooked up to my paypal accnt. why cant i just fund oanda directly from my paypal ccnt whihc is hooked up to my credit card. and why should'nt i claim my profits from oanda directly via paypal and credit my credit card that is hooked up to paypal accnt.??
  • #87
  • Mar 10, 2009 11:42pm Mar 10, 2009 11:42pm
ooops, many credit card bank rejects payments directly to oanda,

but accept credit card payment from one paypal user to another. (like shop on ebay)

you only need to bother 2 paypal accounts if direct payment via credit card is rejected by your bank.

ps: even if this way, the paypal in & out fee in terms of % is big, so playing with very small money can save you a international bank wire fee. playing with bigger money does not save you.

pls look at here one main complaint is paypal withdraw fee problem, and research paypal's help on fees. bigger money may still cheaper via bank wires. (they are bucket shop so why bigger money?
http://www.forexpeacearmy.com/public.../www.oanda.com
Quoting millyjim
hi can you pls explain why i should, transfer frm one paypal accnt to another paypal accnt and then fund oanda.

i already hv my credit card hooked up to my paypal accnt. why cant i just fund oanda directly from my paypal ccnt whihc is hooked up to my credit card. and why should'nt i claim my profits from oanda directly via paypal and credit my credit card that is hooked up to paypal accnt.??
  • #88
  • Mar 11, 2009 12:24am Mar 11, 2009 12:24am
Quoting billye
pls look at here one main complaint is paypal withdraw fee problem
If you only withdraw once a month, there is no fee (except the Paypal fees that apply, of course).

Paypal fee deduction on deposits to Oanda is around 2,2%.
On withdrawals (Premier accounts):
USA: From 2.4% a 3.4% + $0.30 USD
Canada: From 1.9% a 2.9% + $0.30 CAD
Europe: From 1.9% a 3.4% + €0.35 EUR

If you withdraw 10% of your account monthly, that would amount up to a 0,35% of your equity. (0,70% on 20%, and so on).
  • #89
  • Mar 11, 2009 4:30am Mar 11, 2009 4:30am
yes, but paypal back to bank still need a wire. so for bigger amounts, using paypal was not good esp. oanda only return to paypal if you use paypal to deposit.

I was saying if open 1$ or 10$ live account for learning,
paypal is cheaper than wire. cost is only about 1$.

Quoting doblece
If you only withdraw once a month, there is no fee (except the Paypal fees that apply, of course).

Paypal fee deduction on deposits to Oanda is around 2,2%.
On withdrawals (Premier accounts):
USA: From 2.4% a 3.4% + $0.30 USD
Canada: From 1.9% a 2.9% + $0.30 CAD
Europe: From 1.9% a 3.4% + €0.35 EUR

If you withdraw 10% of your account monthly, that would amount up to a 0,35% of your equity. (0,70% on 20%, and so on).
  • #90
  • Mar 29, 2009 12:59pm Mar 29, 2009 12:59pm
looks like there is no feasible long term solution to offset high wire deposit and withdrawal cost rather than find broker that suppose cc transfer, only -1.5% visa charges. Anyone has use CC funding with other broker can share a bit info?
  • #91
  • Edited 2:48pm Mar 29, 2009 2:31pm | Edited 2:48pm
Quoting billye
ooops, many credit card bank rejects payments directly to oanda,

but accept credit card payment from one paypal user to another. (like shop on ebay)

It is strange that the bank will block the transfer to Oanda. I think a lot of brokers support direct credit card transfer.
  • #92
  • Mar 30, 2009 6:48am Mar 30, 2009 6:48am
Looks like funding Oanda in AUD is best choice in view of:

  1. lowest RM50 wire withdrawal fee (in same MYR currency value)
  2. highest interest rate of 3%pa.

Tell me if anyone agrees? (See attached)

If yes, would you convert your USD fund in Oanda to AUD in this matter?

Attached Image
  • #93
  • Mar 30, 2009 7:05am Mar 30, 2009 7:05am
maybe their cc user lost money and deny payments... haha

that's the reason I said you could use credit card to pay from 1 paypal user to another,
then deposit from another paypal user to oanda...

this is for small amounts like 10$... you can save a wire transfer fee.

Quoting fxfei
It is strange that the bank will block the transfer to Oanda. I think a lot of brokers support direct credit card transfer.
  • #94
  • Mar 30, 2009 7:07am Mar 30, 2009 7:07am
hard to answer

this is like asking which currency to hold is safe...

Quoting belief
Looks like funding Oanda in AUD is best choice in view of:

  1. lowest RM50 wire withdrawal fee (in same MYR currency value)
  2. highest interest rate of 3%pa.

Tell me if anyone agrees? (See attached)

If yes, would you convert your USD fund in Oanda to AUD in this matter?

  • #95
  • Mar 30, 2009 7:17am Mar 30, 2009 7:17am
Quoting billye
hard to answer

this is like asking which currency to hold is safe...
Not safe if Australia become bankrupt like Ireland, your worry is a bit over the top as I was making decision on regular withdrawal and additional interest.

Having said that, credit card payment is still way much cheaper than wire. Perhaps some goes for GFT or ActivTrades for that reason. Anyone prefers CC than wire transfer here?
  • #96
  • Edited 12:50pm Mar 30, 2009 8:13am | Edited 12:50pm
why do you think hold acc in AUD and do nothing is safe?
safe in terms of it's value will not drop... AUD/USD dropped right?

cc don't work with oanda well, it goes via paypal and charges ~3% fee.
I wouldn't think that fee a major consideration

you're in sg, there is an oanda sg branch may accept local deposit?

no idea with other 2 broker

Quoting belief
Not safe if Australia become bankrupt like Ireland, your worry is a bit over the top as I was making decision on regular withdrawal and additional interest.

Having said that, credit card payment is still way much cheaper than wire. Perhaps some goes for GFT or ActivTrades for that reason. Anyone prefers CC than wire transfer here?
  • #97
  • Apr 1, 2009 8:21pm Apr 1, 2009 8:21pm
hey guys, so which currency would you keep your broker fund in? (above suggested AUD if anyone has other views please share ok?)

@billye: oanda Singapore has too many compliance to adhere to, and they just started operation, staffs are not quiet experience about Q&A when contacted, I prefer to deal with their HQ if to continue with Oanda.

High withdrawal fee would be an issue for profitable traders (with mini account). Say 12 withdrawals per year, you have to work extra hard to pay broker just withdrawing your fund, who likes such idea?
  • #98
  • Apr 1, 2009 8:45pm Apr 1, 2009 8:45pm
1. I think you proposed AUD and no one clearly agreed with a convincing fact/reasoning.
I don't want to go into details here, you can go to a AUD/USD thread to ask on long terms

2. support usually do not matter if you've experience with the trading software, if additional gives me local bank deposit, that's good enough

3. I agree it's high
you need to work out a solution how to deal with operations fee with brokers available and transfer methods available, free is not always good

Quoting belief
hey guys, so which currency would you keep your broker fund in? (above suggested AUD if anyone has other views please share ok?)

@billye: oanda Singapore has too many compliance to adhere to, and they just started operation, staffs are not quiet experience about Q&A when contacted, I prefer to deal with their HQ if to continue with Oanda.

High withdrawal fee would be an issue for profitable traders (with mini account). Say 12 withdrawals per year, you have to work extra hard to pay broker just withdrawing your fund, who likes such idea?
  • #99
  • Feb 22, 2012 8:57pm Feb 22, 2012 8:57pm
i've difficulty deposit to oanda account, walked to maybank three times (t.t) but they keep telling me oanda account is invalid. anyone can help? How you all fund to oanda account.
  • #100
  • May 8, 2012 8:56pm May 8, 2012 8:56pm
I am from Malaysia too. I funded my account to Oanda in Maybank Pandan Indah with no problem at all.

Put down Oanda Asia Pacific Pte Ltd in the beneficiary column in the TT form. That's the Oanda branch in Singapore which Oanda maintains an account in Standard Chartered Bank in Battery Road.

The currency I choose is SGD.
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