eWallets and Forex Trading

sethmo · May 28, 2012

I want to open an account with Hotforex and they have several funding options, Wire, Credit Card, WebMoney, Liberty Reserve, Moneybookers, Perfect Money, CashU and Neteller. I don't have a credit card, so that's no option and, I don't know about internationally, but South African banks wire transfer fees are relatively high (compared to the fees charged by the ewallets).

I'm most interested in Neteller since they are used a lot by online gamblers and I figures, if you're going to service that market, you'd better have your story straight! Only thing is when I did a search of many of these ewallets, I didn't get a good impression of any of them. The biggest gripe was suspended accounts for no reason.

I just want to know if anyone successfully uses any of these ewallets to fund and withdraw from their forex brokers and who the better ones are. And maybe what to look out for when choosing an ewallet service provider.

Thanks in advance

sethmo

Dominator4fx · May 28, 2012

sethmo said:
I want to open an account with Hotforex and they have several funding options, Wire, Credit Card, WebMoney, Liberty Reserve, Moneybookers, Perfect Money, CashU and Neteller. I don't have a credit card, so that's no option and, I don't know about internationally, but South African banks wire transfer fees are relatively high (compared to the fees charged by the ewallets).

I'm most interested in Neteller since they are used a lot by online gamblers and I figures, if you're going to service that market, you'd better have your story straight! Only thing is when I did a search of many of these ewallets, I didn't get a good impression of any of them. The biggest gripe was suspended accounts for no reason.

I just want to know if anyone successfully uses any of these ewallets to fund and withdraw from their forex brokers and who the better ones are. And maybe what to look out for when choosing an ewallet service provider.

Thanks in advance

sethmo

The E Wallet that i am using successfully is Liberty Reserve.

It s the Top choice for Forex as the Fees are lowest and the account security is highest.

Other which are good:

1. Money Bookers

2. Web Money

3. OKPAY

sethmo · May 28, 2012

A lot of people seem to also recommend Money Bookers. So are all these horror stories about accounts being frozen for no reason a rare occurrence and not the norm?

boileau2012 · May 29, 2012

MoneyBookers is saved for all because of strong quality security. MoneyBookers is always thumbs up. By the way I am Brice Boileau, just join in this board.

ph_trader · Jun 1, 2012

I use moneybookers and trade with hotforex, you can withdraw as long as its with in your limit and it will only cost you 1.8 euros, or 2.2 US dollars, just remember when joining moneybookers make sure to set your currency to the currency you are willing to use, lets say US dollars, coz conversions can be a pain in the ars. its really reliable and the transfer from money bookers to my bank is bank wire

it takes up to 3 working days given im from asia

sethmo · Jun 2, 2012

Thanks ph.

I think dollar is the currency I'd use for them. It's cheaper than the euro and the pound here, so I'd probably get more bang for my buck. I really like Moneybookers for their fees. On their site, it works out to about R19 in our currency, which is fabulous. 3 working days, nice. Knowing the banks here, I think I'll have to set my standards a little lower, lol.

On a related side-note, I see you use hotforex. How are you finding life with them?

datamonkey · Jun 2, 2012

I agree with Dominator above - Moneybookers are very good...

ph_trader · Nov 16, 2012

sethmo said:
Thanks ph.

I think dollar is the currency I'd use for them. It's cheaper than the euro and the pound here, so I'd probably get more bang for my buck. I really like Moneybookers for their fees. On their site, it works out to about R19 in our currency, which is fabulous. 3 working days, nice. Knowing the banks here, I think I'll have to set my standards a little lower, lol.

On a related side-note, I see you use hotforex. How are you finding life with them?

they are a decent broker, no major issues so far, I usually swing and do a couple of position trades, my main concern are withdrawals and the time they take, and so far it never fails me.

sethmo · Nov 16, 2012

ph_trader said:
they are a decent broker, no major issues so far, I usually swing and do a couple of position trades, my main concern are withdrawals and the time they take, and so far it never fails me.

As a matter of interest, do you use their micro account? I'm surprised they are STP/ECN but there are no commissions on that account.

Either way, I'm going with them, 4 out of 5 stars on forexpeacearmy means they must be doing something right! And most people report that they are fair and quick to resolve issues.

mingbao · Jan 8, 2013

Money Bookers is convenient and it seems that the other payments here are not available in China.
I myself use Moneybookers, I register a new account at the new platform, the instant transfer is way much easier than before now.

eWallets and Forex Trading

sethmo

Junior member

Dominator4fx

Member

sethmo

Junior member

boileau2012

Newbie

ph_trader

Well-known member

sethmo

Junior member

datamonkey

Member

ph_trader

Well-known member

sethmo

Junior member

mingbao

Member

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