Forex broker - payment methods

[KarrosAst]

I'd like to ask, what is your preferable payment method when you select a forex broker. Immediate deposit, no fees, instant mt4/mt5 transfer, fast withdrawal and payouts, etc? What if a deposit/withdrawal malfunction? What would be an acceptable time-frame to 'fix' an issue like that?

 

[wonge]

I'd like to ask, what is your preferable payment method when you select a forex broker. Immediate deposit, no fees, instant mt4/mt5 transfer, fast withdrawal and payouts, etc? What if a deposit/withdrawal malfunction? What would be an acceptable time-frame to 'fix' an issue like that?

I like one with a fast / instant deposit (and ideally withdrawal too). Preferably that accept a credit card deposit with no fees.

 

[Henow1969]

I prefer that my broker should have fast and instant deposit and it should be hassle free.

 

[chartmans]

First of all, I would never want to use a broker that would cause deposit/withdrawal malfunction. I do trading as a hobby and I don’t want my hobby to give me any stress. That’s the reason why I always look for a broker that offers quick and easy deposits and withdrawals. So far, XTB and TurnkeyForex have been the best brokers that I have used. I never faced any issue with the payments and that’s what I love about these apps the most.

 

[tomorton]

Here's a theory -

Brokers subject to tough regulation will only execute withdrawals back to the same bank or credit card account from which the original funds were deposited. This is in order to comply with anti-money laundering laws.

If you find a broker who says they will re-fund your money wherever you want, then maybe either -
a) they are unregistered and therefore unregulated so they don't care about anti-money laundering laws
b) they don't mind getting involved in money laundering as long as they get a cut
c) they have no intention of re-funding any money to you so they can agree to send it anywhere, it will never happen
d) no matter what they say they are not subject to tough regulation

Be careful getting involved with a firm like that.

 

[Kevin FD]

payment method the real character of any kind of broker , we the traders have to choose the broker which always make sure withdrawal within 1 days.

 

[WalletInvestor]

Deposit and withdrawal should indeed be hassle-free. While the broker might have to comply with tough regulations, they shouldn't have any interest in holding your money besides enabling you to trade, so if a broker asks you to send them more money in order to withdraw or make the process otherwise difficult, be suspicious.

 

[BigDeal]

I would strongly advise against using a credit card to fund a trading account - use funds which you already have available for investment purposes

 

[HeavLeighGill]

I used to use my card but switched over to BTC for deposits and withdrawals and plan to continue using it. Everything is processed much faster and my withdrawals are always issued the same day. At first I was hesitant to switch, but I do like to have some BTC in my account anyways and I can always withdraw that to my bank account if I want the cash.

 

[washono]

To avoid such an issue when I have a big amount at stake, I always try a withdrawal at the beginning. This gives me an idea of how it will be later and whether I should keep using them or start looking for a new one.