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legalise question

Discussion in 'Beginners Bootcamp' started by captainsan4, May 16, 2012.

  1. captainsan4

    captainsan4 Recruit

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    hi, newbie here. I signed up because it seems so many retail forex brokers are jerks in one way or another so i wanted to find a decent one based on this forum's reviews. anyway, no one seems to bash 4xp too much so I'm going to go with them.
    I'm just abit confused by the T+C's at Terms and Conditions , specifically:

    4.2 The Company charges a fee for transfers of funds standing to the credit of a Trading Account from the Company to the Client at its prevailing transfer rate, currently equivalent to USD 35 USD per transfer, and this amount will be a deducted from the Client's Trading Account.

    I was wondering what this means. Can someone explain it to me in plain english?

    thanks guys.
     
  2. Pharaoh

    Pharaoh Colonel

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    It means that they charge you $35 to withdraw your money, no matter what method of withdrawal is used.

    For a wire transfer, this is not too excessive. For a refund to a credit or debit card, it's a simple transfer of cash that should go to your pocket into their pocket.
     
  3. Onyebuchim C. Obike

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    Take it like a fee charged by the Bank to transfer fund to and from a customer. Its better to talk to a bank rep to explain the rudiments to give you better understanding. Thats why fees for cards seems a bit cheaper. But the amount charged $35 dollars is reasonable.
    Dont forget to include all charges to the total amount you intend to invest.
     

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