Forex Version XI, Foreign Exchange Market Discussion
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 May 1 2013, 04:45 AM
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#1
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Junior Member
490 posts Joined: Aug 2006  
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hello, i just started learning about forex, did some reading and playing a demo account currently.
i would like to know about the funding and withdrawals of a forex account. I read about wire transfers, credit cards, online electronic payment systems, but these infos are general, i would like to know how fellow malaysian traders fund/withdraw their forex accounts. |
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May 3 2013, 08:48 PM
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#2
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Junior Member
490 posts Joined: Aug 2006
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a repost of a question i posted earlier, in case it is missed. How does malaysian traders fund/withdraw their forex account? thanks.
i mean not the general method that is described on forex web sites, but a little more specific for a local. Hope you guys understand my question. |
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May 3 2013, 10:59 PM
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#3
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Junior Member
490 posts Joined: Aug 2006
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QUOTE(boyvai @ May 3 2013, 10:02 PM) i deposit use debit card. i'm not familiar with banking stuffs since i just use it as a saving account. So what you mean is your cimb account funds and withdraw from the forex account? using debit/credit card will have extra charges as i read on some forex companies' web site, yes? does the funding account such as your cimb account need to be a foreign currency account?withdraw straight to my cimb account.2 days processing already on my account.  |
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May 3 2013, 11:23 PM
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#4
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Junior Member
490 posts Joined: Aug 2006
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QUOTE(boyvai @ May 3 2013, 11:15 PM) my cimb account is normal saving account.my broker just transfer the profit i gain,which as the amount i want to withdraw,just straight transfer to my cimb saving account.very simple. ah, very informative, thanks for the lengthy explanation. rate is depend on currently currency converter.my broker withdraw/fund rate exchange on currently currency.some broker fix rate. for fund.i chose to use debit card,if i use my credit card,i will fund my fx account non stop,later at the end of the month i cry lol. its up to u,but for me i use cimb debit card.very easy too.for me i deal straight to my broker,no middle man aka introducer broker. hopefully can clear your doubts   One more question, it seems that websites don't mention that they autoconvert for you when funding/withdrawing, so it means i'll have to ask them about it? It seems ineteresting, only thing is some broker's card funding has extra charges such as usd 3 +3% each deposit, which is a pain. |
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May 3 2013, 11:43 PM
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#5
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Junior Member
490 posts Joined: Aug 2006
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QUOTE(boyvai @ May 3 2013, 11:32 PM) what broker u trading?fund already take profit 3% of your funding.omg. oh no, i'm not goin live yet, still on demo. most broker(regulated/reliable)will not take extra chrage from funding even 0.1% ~fund account-u will go to funding page.fill your info,etc2.mostly we malaysian use USD currency.so,when we fill the funding form,currency already on USD.just type amount.if use cc/debit transaction completed/succes.RM from our cc/debit deduct based on USD currency.omg so hard to explain la boss.haha maybe u mean 3% is currency converter? While searching for other brokers, i came across exness, based in new zealand but from their management team, more like ukraine or eastern european company. On their funding/withdrawal page, it stated usd1 + 3%  |
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May 4 2013, 12:10 AM
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#6
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Junior Member
490 posts Joined: Aug 2006
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QUOTE(boyvai @ May 3 2013, 11:49 PM) eh,yes indeed.on their website cc 3% + 1usd. thanks for the website, checking it now. The top regulators are the new york, UK and mauritius regulators, yes? i plan to check based on members of those regulator bodies, but not sure which is better. 1 usd deposit also can lol its up to u.there are many other reliable/regulated brokers.go to forexpeacearmy.com for live report on brokers. oh, and what broker are you using now, boyvai? |
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