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Help needed in OANDA + users from Malaysia

  • #101
  • Nov 26, 2012 3:51am Nov 26, 2012 3:51am
Hello guys, have anyone used credit card directly to transfer to Oanda? i'm planning to use Maybank Mastercard to do so. But my concerns are:
1. Misc charges applied (Planning to transfer 1000 USD).
2. Withdrawal. From what I read from Oanda, your withdrawal has to be the same as your deposit. In this case, how am I gonna withdraw the funds into my credit card?

Can anyone advise? Thanks!
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #102
  • Nov 30, 2012 9:31am Nov 30, 2012 9:31am
i think that's could be easy if Oanda have an ib in malaysia.
  • #103
  • Dec 13, 2012 8:47pm Dec 13, 2012 8:47pm
Regardless of whatever broker you use (unless they have special promotions), there will always be some charges when depositing through whatever mean, and that include credit cards. Expect to pay around a few percentage of the total deposit. Theplus point in using credit card is the money get deposited to your account real fast!

Same withdrawal to the account that you deposit. This applies to all brokers. Fund can be withdrawn from the credit card account through cash withdrawal.The drawback is you have to pay some advance fee.
  • #104
  • Dec 14, 2012 4:06am Dec 14, 2012 4:06am
Quoting flowerhorn
Regardless of whatever broker you use (unless they have special promotions), there will always be some charges when depositing through whatever mean, and that include credit cards. Expect to pay around a few percentage of the total deposit. Theplus point in using credit card is the money get deposited to your account real fast!

Same withdrawal to the account that you deposit. This applies to all brokers. Fund can be withdrawn from the credit card account through cash withdrawal.The drawback is you have to pay some advance fee.
Hi Flowerhorn, from your experience with Oanda (i believe you dealt with Oanda before), which method is the most economical? Credit card? Wire transfer? Paypal? I'm considering around USD1k as a start. Please advise. Time for withdrawal isn't as significant to me as long as it's guaranteed to be safe.

Thanks in advance!
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #105
  • Dec 14, 2012 7:31pm Dec 14, 2012 7:31pm
Hey Keroro0o0o,

I am not sure about the charges incurred for credit card deposit but I guess it might be the most economical one. Maybe you can check with customer service as Oanda has the best customer service among the broker. This linkhttp://fxtrade.oanda.com/help/how-to-deposit-funds/ only states credit card charges is depending on the bank policy.

I have only used bank wire deposit. The charges should be RM35 to RM50 in your case. It will take a few days for the money to be deposited to your trading account after you made your deposit through the bank.

Of course for credit card deposit, it will be SUPER fast, if not immediate.
  • #106
  • Last Post: Dec 15, 2012 1:02am Dec 15, 2012 1:02am
Quoting flowerhorn
Hey Keroro0o0o,

I am not sure about the charges incurred for credit card deposit but I guess it might be the most economical one. Maybe you can check with customer service as Oanda has the best customer service among the broker. This linkhttp://fxtrade.oanda.com/help/how-to-deposit-funds/ only states credit card charges is depending on the bank policy.

I have only used bank wire deposit. The charges should be RM35 to RM50 in your case. It will take a few days for the money to be deposited to your trading account after you made your...
Hi F, guess that the best way is to try it myself to find out will update here once done. (not so soon though)

Thanks for the your kind responses.
Knowing is not enough; we must apply. Willing is not enough; we must do.
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