Which forex company has credit card withdraw/deposit with minimal fee? | Forex Factory

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Which forex company has credit card withdraw/deposit with minimal fee?

  • #1
  • First Post: Apr 3, 2010 7:08pm Apr 3, 2010 7:08pm
Which forex company has credit card withdraw and deposit with minimal fee?
I prefer 1 can let me trade 1000 per trade minimum, or less per trade.

I found IBfx can do it, but is there other options?

thanks.
  • #2
  • Apr 3, 2010 8:27pm Apr 3, 2010 8:27pm
Quoting MoreYummy
Which forex company has credit card withdraw and deposit with minimal fee?
I prefer 1 can let me trade 1000 per trade minimum, or less per trade.

I found IBfx can do it, but is there other options?

thanks.
Are you kidding me? Is this a serious post? You want to trade using a credit card? And you are hassling over the fee the CC company is going to charge?
  • #3
  • Apr 3, 2010 9:43pm Apr 3, 2010 9:43pm
What's problem with comparing broker with their fee and so on?

So i guess you dont know anything about it eh?
  • #4
  • Apr 4, 2010 4:16am Apr 4, 2010 4:16am
I think a lot of brokers take credit cards anymore. I don't know whether they charge you an "extra" fee or not. You'll just have to look around.
  • #5
  • Apr 4, 2010 4:51am Apr 4, 2010 4:51am
There are few do take credit card as deposit, but not many would let me withdraw using credit card/debit.
  • #6
  • Apr 4, 2010 6:04am Apr 4, 2010 6:04am
Actually, CC fees are an issue. Many of these unregulated bucketshops offering CC deposit are using any old offshore CC merchant service to process the payments which naturally charge more fees than having a legitimate merchant account at a bank.
  • #7
  • Apr 4, 2010 7:39am Apr 4, 2010 7:39am
Quoting MoreYummy
There are few do take credit card as deposit, but not many would let me withdraw using credit card/debit.
Yeah, that's one of the nice things about IBFX. You still get charged for withdrawals though, if you are using "their" debit card. But, if you live in the United States, you have the option to open an account with Zion's Bank (I don't know if you can open an account from another country?), and have your funds transferred directly to and from there ... and it's free.
  • #8
  • Apr 4, 2010 1:10pm Apr 4, 2010 1:10pm
GFT doesn't charge any CC fees. I've been in/out transferring amounts $3,000 to $5,000 on a regular basis and have of yet not been charged a fee. I find it quicker and faster than Wiring moneys. GFT charges $25 to wire money to my bank and then my back charges me $35-$45 for all incoming wires. (ouch)

I'll take the CC and check options where I can get it ... it's all about savings when trading fx.
  • #9
  • Apr 4, 2010 1:36pm Apr 4, 2010 1:36pm
yea i found GFT takes CC without fee for deposit.
but the withdraw is only up to the deposit amount, rest on check.
How long does it take to send out the check?
  • #10
  • Apr 4, 2010 3:05pm Apr 4, 2010 3:05pm
Quoting MoreYummy
yea i found GFT takes CC without fee for deposit.
but the withdraw is only up to the deposit amount, rest on check.
How long does it take to send out the check?
You are right. If you make a deposit using CC, you can withdraw those funds out by CC within 60 days of the initial CC deposit. After the 60 day, GFT will send you a check. It happened to me once so GFt cut me a check for the remainder of the funds owed The check came faster than I expected, within three business days. I requested fund withdrawal on Monday and got the check on Wednesday.
  • #11
  • Apr 4, 2010 3:12pm Apr 4, 2010 3:12pm
so i guess you are using gft full time trading?
Im thinking of using it.
How is the spread for 6 majors?
  • #12
  • Apr 7, 2010 1:18pm Apr 7, 2010 1:18pm
FXCM US standard accounta allows for funding and withdrawal with CC (after 30 days I believe) with no fees. Limit $10K every 30 days

They take $10 or $20 admin fee if you do two withdrawals I believe

Now with FXCM Micro US you can fund with CC and withdraw with check, the limit is $5000 every 30 days

With IBFX the limit is $20K/every 30 days and if you use zions bank then it's free to withdraw.
  • #13
  • Apr 7, 2010 2:53pm Apr 7, 2010 2:53pm
fxcm standard allows CC withdraw for the profit part or only the part deposited with CC?
Didnt know they can until now.
  • #14
  • Apr 7, 2010 3:41pm Apr 7, 2010 3:41pm
Quoting MoreYummy
fxcm standard allows CC withdraw for the profit part or only the part deposited with CC?
Didnt know they can until now.
that I'm not sure but since basically the withdrawal is simply a reverse of the previous transaction I'd think only the deposit ... that should be true with any company ... since if they allow withdrawing all via CC then it costs more than just doing a reverse transaction
  • #15
  • Apr 7, 2010 4:54pm Apr 7, 2010 4:54pm
I don't think there's such a thing as creditcard withdrawal

debitcard maybe?
  • #16
  • Apr 7, 2010 4:58pm Apr 7, 2010 4:58pm
Quoting mr.az
I don't think there's such a thing as creditcard withdrawal

debitcard maybe?
no, there's credit card cash advance ... which usually costs alot
and the merchant can post credit to your credit card thus you might have negative balance that they send by check after a few months or you can simply spend it somewhere else
  • #17
  • Edited 6:31pm Apr 7, 2010 5:56pm | Edited 6:31pm
i just checked with fxcm, no cc withdraw after the initial deposit.
So if there is profit, cc is not possible in fxcm.

well, in reality, its a prepaid card or debit card some sort. but they use same network as cc.

as m78 said, the withdraw is cash advance, so there is some kind of fee, which is what im looking to compare.
  • #18
  • Apr 8, 2010 8:40am Apr 8, 2010 8:40am
Quoting m78
that I'm not sure but since basically the withdrawal is simply a reverse of the previous transaction I'd think only the deposit ... that should be true with any company ... since if they allow withdrawing all via CC then it costs more than just doing a reverse transaction
m78 is correct. For the standard accounts, you could withdraw back to your credit or debit card up to the amount you funded with.
  • #19
  • Apr 8, 2010 9:08am Apr 8, 2010 9:08am
Quoting Jason Rogers
m78 is correct. For the standard accounts, you could withdraw back to your credit or debit card up to the amount you funded with.
Jason,

I think it's best you stick to the FXCM titled threads. If you want to reply to member use a PM. I think your motives are always to high light the strengths of FXCM, hence promote the business.

I don't think you have a place to reply in non FXCM threads under the Banner of Jason Rogers as you will never agree or confirm noted weaknesses FXCM has. I have not seen this, hence my reply.

I will make a complaint to the mods as this should not be done by companies. This is the first time I have seen a company post out side their dedicated thread. ( please correct if I am wrong there members)

Not on JR
  • #20
  • Oct 24, 2012 1:35am Oct 24, 2012 1:35am
Quoting m78
With IBFX the limit is $20K/every 30 days and if you use zions bank then it's free to withdraw.
If you deposit by Credit Card, can you withdrawal to Zions Bank at a later date ?
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