Lmfx

Discussion in 'Forex Brokers' started by inggo, Oct 12, 2015.

  1. ashouq

    ashouq Trader

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    I am using skrill and get my payments processed usually within a day or two, still a good payment deposit and withdrawal option i guess but the paypal isn't any feasible option in my opinion to fund forex brokers.
     
  2. garena

    garena Active Trader

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    Paypal could not be considered a payment option wherer only a few of broker support Paypal.
     
  3. inggo

    inggo Master Trader

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    I have always said that paypal have some crazy strict policies where suspending accounts are done with ease, which many people take advantage of this despite it being true or not, so its not a best option for such online business like forex trading binary or stock. so yeah thats why many many good brokers dont offer paypal, on the other hand there are many other options out there that are easy to use such as skrill webmoney neteller etc, or simply go straight with bank wire
     
  4. ashouq

    ashouq Trader

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    Yeah, and we never knew when our paypal account getting limited.. ! I just had once experienced freezing of my paypal which they never activated ever..!!
     
  5. inggo

    inggo Master Trader

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    hahaha just becareful with paypal, i usually simply keep my transactions there at minimum with online purchases or mainly ebay :) thats about it.
     
  6. ashouq

    ashouq Trader

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    Yeah maybe it is a feasible option for ebay or amazon but paypal in my opinion is not good for forex trading payment options.
     
  7. pipedition

    pipedition Trader

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    Indeed, but I think because there are only a few of decent broker so Paypal don't want to risk their reputation. However, Skrill is still getting a lot of money through Forex.
     
  8. inggo

    inggo Master Trader

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    well lots of these companies do make tons of money of moving money, its the fees no matter how small it may seem, well thats business in my opinion. and we lve with it.
     
  9. ashouq

    ashouq Trader

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    I think every business is meant for generating earnings no doubt how small they are, and thats what we the traders also seek through trading forex. We all tends to earn pips either they are small or high because at the end of day they means money.
     
  10. pipedition

    pipedition Trader

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    Seems this broker has only Skrill and Neteller as e-wallets. I just checked Skrill withdrawal and its withdrawal fee is $6.5/400, I see this is too much, how's about yours?
     
  11. inggo

    inggo Master Trader

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    withdrawals has no fees as long as lmfx is concerned but the fees do come from the third party processor, and skrill does have its fees, depending on what method you use, i work with the skrill card and its good.
     
  12. ashouq

    ashouq Trader

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    Just my two cents, this fee is i guess reduced now as they charged more than 10$ on receiving money upto this amount i.e., 400 eur or usd.
     
  13. inggo

    inggo Master Trader

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    is this for skrill? i think its a percentage that they cut from each withdrawal, its a small amount that i simply got used too, but it could vary from one country to another, and most withdrawals are processed in eur, even if it is a USD account, the conversion can be a pain sometime.
     
  14. ashouq

    ashouq Trader

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    Yes this is for skrill and although in start they used to convert my USD withdrawals into EUR and charge conversation fees however now they simply send me my withdrawals into my local currency.
     
  15. inggo

    inggo Master Trader

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    thats interesting, i think its still a local conversion from eur to local, I mean if you have a USD account it will be processed as a EUR currency then converted again to local currency, eur has very low exchange rate in my location, and it does hit hard on the total amount but i get used to it anyway,
     
  16. pipedition

    pipedition Trader

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    I think Bitcoin is much more cheaper than other payment processor but it's not easy to integrate this bom into your site, that could explode in a beautiful day and harmful for trader and broker.
     
  17. inggo

    inggo Master Trader

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    hahaha I mean though bitcoin in trending in terms of trading it, but its still a very volatile unpredictable market, though some predictions say its gonna go as far as 20-30 thousand USD in the next couple of years, i even heard on bloomberg for it to be a real currency it has to breach the 1million mark, i realy dont know, but as long we make money out of it then i guess its good.
     
  18. garena

    garena Active Trader

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    Bitcoin is really popular that it went into many bitcoin broker conversations.
     
  19. ashouq

    ashouq Trader

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    Yup it is gaining popularity however there are also some rumors that it might become a bubble which can also pop..! Yet its popularity is growing day by day.
     
  20. inggo

    inggo Master Trader

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    how many here trade BTC, even in the local scene people are jumping on the btc train like crazy..
     

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