Forex Broker Debit Card

TheLastBear

Banned
Jul 11, 2012
192
0
0
Hey guys,

does your broker offer a debit card which you can use for transactions directly from your forex account? Would you use it or do you think it would mess up your trading and make it more complicated because you always have open positions? If your broker does not offer one, would you want that option?
 

TheLastBear

Banned
Jul 11, 2012
192
0
0
None of my brokers offers their own debit cards. I am not sure if I am interested in such option, as the limits on these cards are usually quite low.

I am not sure what the limits are. My brokers do not offer one either and I never bothered to check what the limits are.
 

Lewis198

Trader
Sep 7, 2012
3
0
12
Bank of America said after Nov 15th, that individuals will no longer earn reward points since they are going to start pushing brokerage clients who want to keep their debit rewards by switching to credit card fees.
 

Fxpipper

Master Trader
Oct 26, 2011
1,132
4
49
No, mine does not offer [all three]..but even if they did, no thanks. Any cards would carry a charge per transaction and since I transfer funds to my bank account and have bank cards, there's no reason as to why I would want to pay more to access the same funds..
 

TheLastBear

Banned
Jul 11, 2012
192
0
0
No, mine does not offer [all three]..but even if they did, no thanks. Any cards would carry a charge per transaction and since I transfer funds to my bank account and have bank cards, there's no reason as to why I would want to pay more to access the same funds..

I get your point. It just comes down to personal preference and how you intend on using it.
 

Fxpipper

Master Trader
Oct 26, 2011
1,132
4
49
That's why I prefer to use my bank's card but here's the rub, even they do charge you small amounts which they do not even declare upfront. For example, let's say you dine out in a restaurant [nice one] and tip them using your card.
And once the charge carries through, the CC will be charged a nominal amount for using the same to tip for services provided..that really cracked me up. Either way, changed card vendor after that but that just goes to show you that "there's no such thing as a free snack.."
 

Robert

Trader
Oct 24, 2012
53
0
22
Your broker has is not regualted by an authoritative body, the FM financial and gold bullion thing are not regulations when it comes to forex trading. There many brokers that offer their own CC for faster withdrawals but the fees are realtively high in most cases. Sorry, not my cup of tea