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Can you recommend a broker?

Discussion in 'Forex Company Comparisons' started by John Dziegiel, Jan 17, 2010.

  1. John Dziegiel

    John Dziegiel Recruit

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    Can anyone recommend a broker that...

    is Regulated,
    allows Credit card funding,
    and permits you to Withdraw funds by writing a check?

    (If not all 3, then regulated and allows credit card funding)

    Thanks,
     
  2. cowmadagan

    cowmadagan Sergeant

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    um...erm...some will let you withdraw with just an internet form...as long as it's in your name...
    Unless you're looking to launder money, or have a spastically currupt gov't, I don't really see the value of a check anyways.
     
  3. Pharaoh

    Pharaoh Colonel

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    The advantage of getting withdrawals by check is that the fees are typically minimal to none.

    A lot of brokers claim they don't charge wire transfer fees. Even when they don't lump something in on top, the banks do charge fees. If you are pulling out $5000, $35 or so isn't bad. If you are pulling out $50, $35 truly sucks.
     
  4. cowmadagan

    cowmadagan Sergeant

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    Yeah, in Taiwan they HATE checks at the bank. Even if they're big fat ones.
    They hit me for about $30 to deposit a check, and they get dinged at the other side too...that's why I was saying that I don't see the point in checks...
    If you don't get hit for depositing a check, then that makes loads of sense instead of a wire.
    Here, they look at you like you're from the stone age.
     
  5. Pharaoh

    Pharaoh Colonel

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    I noticed checks were pretty rare in China. I know in the USA, there are a number of brokers that will let you withdraw by check for free and so far none of the banks have gotten the nerve to start charging account holders for depositing reasonable quantities of checks every month - yet.

    Sure, that first class envelop might take a couple of days to arrive, but so does a wire transfer. A check that gets lost should be simpler to straighten out than a wire ending up in the wrong place. As for Liberty Reserve and many other e-currencies, if one of those goes to the wrong place, good luck ever getting it back.

    Once again, it comes down to the individual trader's circumstances. A US trader with a US brokerage (assuming we aren't de-margined to death by the CFTC) could save time, effort, and money by withdrawing by check. Sounds like some countries make using checks a lot less convenient than others.
     
  6. John Dziegiel

    John Dziegiel Recruit

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    Lots of good info here about checks outside the US.

    Do any Brokers permit check writing that anyone knows of?
     
  7. ernest8fingers

    ernest8fingers Master Sergeant

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    I would recommend FXCM MicroAccount - not sure if CC funding but I know withdrawals are by check. I just finished a 90day test drive of their Micro and I now have one. Great for LowInvestment/beginner Forex Trader-IMO. It doesnt offer "live" telephone support but does offer Live Internet Chat support or email. Spreads are good(Eur/Usd average=1.5 GBP=1.8 and so on) I have even traded the GBP/USD(3 times now) at a negative Spread -.2 ( I had unrealized profit as soon as trade was accepted). I cant complain- and COMPLAINING is one thing I excel at! I am a die hard LowInvestment trader ( after 5 years I still wont deposit more than a couple thousand bucks at any one time) Instead I just "harvest profits when offered and refund when necessary. Good luck.
     
  8. Rstark

    Rstark Recruit

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    ernest8fingers,
    you have said that you have an EA that you use to trade. I was wondering if you are willing to share that EA with anyone?
     
  9. ernest8fingers

    ernest8fingers Master Sergeant

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    here it is

    fxprotrend.com - I dont advertise this software but do offer a "restricted" Demo version that is essentially the same as the "live" version. Just visit the website and download the Demo version and you can trade with that for as long as you like. The Demo will only trade the Eur/Usd pair and will not work on a "live" account. This way one doesnt have to Buy 1st and can try free w/o risk. If you have further questions on EA please use the email address on website. Thanks - Ernest
     
    #9 ernest8fingers, Jan 21, 2010
    Last edited: Jan 21, 2010
  10. PIPWealth

    PIPWealth Recruit

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    Give One Financial UK a go, they pretty good and meet your needs. What is your location?
     

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