deposit methods

tom smart

Newbie
Oct 18, 2016
6
0
2
36
Hello everybody
My question is about deposit methods in Forex, why most of the brokerage such as exness.com or fibo.com doesn’t have PayPal, but some other like fxglory.com or etoro.com has got? Does it mean that PayPal doesn’t trust these companies?
 

Enivid

Administrator
Staff member
Nov 30, 2008
18,530
1,355
144
Odesa
www.earnforex.com
It depends a lot on where the company main business location is and whether the company is ready to pay PayPal's rather high fees. For example, some US regulated brokers do not work with PayPal too. That does not mean that they are not trusted.
 
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Winjak

Active Trader
Sep 22, 2016
57
9
29
48
Jakarta
Hello everybody
My question is about deposit methods in Forex, why most of the brokerage such as exness.com or fibo.com doesn’t have PayPal, but some other like fxglory.com or etoro.com has got? Does it mean that PayPal doesn’t trust these companies?
It's too expensive for them or they don't need it. There are alternatives to PayPal, for example, Skrill (moneybookers) etc
At least, all brokers accept Visa and Master card payments. :)
 
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f4forex

Active Trader
Oct 8, 2015
231
2
29
41
Paypal, in my opinion, is not a feasible option for paying deposit to forex brokers. I have been using skrill for deposits and withdrawals to my brokers and now i had noticed that hotforex has introduced new master card which seems a legit option and good alternative to skrill. I have applied for it and let see how it goes! At least it will not charge too much like skrill does for converting USD to EUR before withdrawing to local bank and others etc.
 

Winjak

Active Trader
Sep 22, 2016
57
9
29
48
Jakarta
Paypal, in my opinion, is not a feasible option for paying deposit to forex brokers. I have been using skrill for deposits and withdrawals to my brokers and now i had noticed that hotforex has introduced new master card which seems a legit option and good alternative to skrill. I have applied for it and let see how it goes! At least it will not charge too much like skrill does for converting USD to EUR before withdrawing to local bank and others etc.
Do you mean a broker card? Mine has such a card too but I still doubt if it's a great idea to open it. Though, it doesn't influence my trading yet. What can you say about such card - do they really more comfortable??
 

Hafizmd

Active Trader
Sep 22, 2016
77
5
29
43
Kuala Lumpur
Do you mean a broker card? Mine has such a card too but I still doubt if it's a great idea to open it. Though, it doesn't influence my trading yet. What can you say about such card - do they really more comfortable??
Hello, Winjak. it won't influence your trading in any case, but depositing and withdrawing will become a bit more comfortable :)
If you are going to work with that broker further than why not to get such a card
 

garena

Master Trader
Jan 28, 2014
243
5
54
It depends a lot on where the company main business location is and whether the company is ready to pay PayPal's rather high fees. For example, some US regulated brokers do not work with PayPal too. That does not mean that they are not trusted.

So what they use to pay clients?
 

hayseed

Master Trader
Jul 27, 2010
1,010
258
149
usa
So what they use to pay clients?
//----

hey garena.... its just like enivid said.... but the debit card withdrawal option is only available up to the amount that was originally deposited using that card......

so if someone deposits 1000 and makes 2000.... only 1000 can be withdrawn using the debit card option.... the rest must be a check or wire..... a bitter sweet bit of a pain....

withdrawals, and only that, are really my only annoyance with the way remaining forex brokers available to us operate.... hopefully it will improve.....

etradefx was a branch of etrade bank.... it allowed almost instant transfer of all funds.... so you could be spending the money 30 minutes after you made it.....h
 

inggo

Banned
Jan 13, 2012
498
12
59
Philippinese
here is the thing with paypal and i would agree strongly not to use paypal in forex transactions, pay pal has a very sensitive terms of aggreement, with enough complaints (with out verifying) pay pal can instantly freez the accounts of frex brokers, making it harder to deliver clients money ASAP, it might even lead to problems in money flow which brokers might endup in deep ****, hotforex had this paypal option back in 2012 if im not mistaken but decided to let go off it, paypal is good with online shopping, and its more suitable that way, now the reason behind why brokre wont allow for example investment to be withdrawn though other means, or only profit through the debit card, is simply avoid money laundering. there are very strict laws regarding this and it serves as protective messures, and there are many people who can easly exploit these options if brokers allowed such withdrawals.
 

garena

Master Trader
Jan 28, 2014
243
5
54
//----

hey garena.... its just like enivid said.... but the debit card withdrawal option is only available up to the amount that was originally deposited using that card......

so if someone deposits 1000 and makes 2000.... only 1000 can be withdrawn using the debit card option.... the rest must be a check or wire..... a bitter sweet bit of a pain....

withdrawals, and only that, are really my only annoyance with the way remaining forex brokers available to us operate.... hopefully it will improve.....

etradefx was a branch of etrade bank.... it allowed almost instant transfer of all funds.... so you could be spending the money 30 minutes after you made it.....h

I see most trader withdraw the profit with e-money as Skrill, Neteller or something else. It's reason why most brokers have Skrill as an default payment method.
 

Alexfx79

Active Trader
Sep 22, 2016
376
20
39
44
Berlin
I see most trader withdraw the profit with e-money as Skrill, Neteller or something else. It's reason why most brokers have Skrill as an default payment method.
I think Skrill is a trustworthy company, I used their services in 2009 and still use it.
So, I think many people do the same. Why not? It's reliable and secure
 

garena

Master Trader
Jan 28, 2014
243
5
54
I think Skrill is a trustworthy company, I used their services in 2009 and still use it.
So, I think many people do the same. Why not? It's reliable and secure

I have also user Skrill from 2012, 5 years and in the past, it's an excelle payment service but I see after being bought by Neteller, Skrill now is only a good, it is still better than most payment methods but there are many things to complain.
 
I have also user Skrill from 2012, 5 years and in the past, it's an excelle payment service but I see after being bought by Neteller, Skrill now is only a good, it is still better than most payment methods but there are many things to complain.
Hey
I live in West Africa, skrill is my excellent means of payment which allow me to make deposits and withdrawals on my trading account. I withdraw money send to my bank account without problem.
 
A

AntjeWagner

Guest
Hello everybody
My question is about deposit methods in Forex, why most of the brokerage such as exness.com or fibo.com doesn’t have PayPal, but some other like fxglory.com or etoro.com has got? Does it mean that PayPal doesn’t trust these companies?

We do not offer PayPal because clients would not use it too much. We rather offer Neteller or Skrill to our clients.
No high demand is our reason for not offering, to answer your question.
 

LittleJosh

Newbie
Jan 23, 2017
10
2
4
48
We do not offer PayPal because clients would not use it too much. We rather offer Neteller or Skrill to our clients.
No high demand is our reason for not offering, to answer your question.

I don't understand this reply? Why is it a problem if people use paypal too much
 
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AntjeWagner

Guest
you mis-read it. the demand is not high enough for us to consider paypal as payment partner yet.
 

Hafizmd

Active Trader
Sep 22, 2016
77
5
29
43
Kuala Lumpur
I don't understand this reply? Why is it a problem if people use paypal too much
On the contrary, he said that NOT many people use it, that's why it's no need to offer this payment system. For example, 10o of traders use Skrill, and only 2-3 use PayPal. So, there is no sense to stay with it.
 
A

AntjeWagner

Guest
exactly. we have dozens of Neteller and Skrill deposits while Paypal it is only requested 1-2 per month and mostly it is by German clients who could rather use the 4 other methods with us.
 

Winjak

Active Trader
Sep 22, 2016
57
9
29
48
Jakarta
And what about a brokers card? Hafizmd told me that it's more comfortable, but what about risks?
Is using them means more risk to me than using my bank card? I am practically sure that there lots of risks. But I'd be very grateful if someone shared his own experience