How we doin everybody?
Just recently went Live with my trading … wip-dee-do right?
Anyway, I’m posting this for folks in the hopes that they can learn from my growing pains once they decide to make the transition from Demo to Live Trading.
[I]My Broker is FXSolutions.[/I]
[B][U]Deposits[/U][/B]
The turnaround time to [B]make a deposit[/B] i.e. [B]fund the account[/B] is 60 minutes or less.
Example – I login (to the website, not the order entry system) tell them I want to deposit $x (its in the thousands). They give me various options for funding. I choose a credit card that’s linked to my bank account. I decided not to expose my bank account directly to a broker (especially in light of recent events surrounding the C*NT Bernie Madhoff).
I receive an email from the broker letting me know they are processing the funding of my account. I receive another email in about an hour indicating the account is funded
When I double check the order entry system I see in fact that funds are available for leverage.
When I check my bank account I see that the funds were in fact credited to the Broker.
[B][U]Withdrawals[/U][/B]
The turnaround time to [B]receive withdrawal funds[/B] i.e. [B]get paid[/B] is 30 Days + Mail Delivery Time.
Example – I submit a withdrawal request (it’s less than $50) by downloading a PDF, filling it out, saving it as JPEG, printing it out, signing it, scanning it back into my computer, saving the signed document as a jpeg, drafting an email requesting withdrawl with the filled out & signed jpeg attached. (say that 5 times fast)
I receive an email 1 day later notifying me that they have received my request and its being reviewed.
I receive an email 2 hours later notifying me that the most recent deposit must stay in the account for at least 30 days before I am allowed to make a request for withdrawal.
I wait for 30 days then … [I]Fckng REEEEEESUBMIT[/I]…
…
…
…
Actually … I don’t know what happens next because I’m only on day 3.
I’ll let you guys know what happens in about 27 days.
RBCOE!!!
PS – I’m didn’t opt for the WIRE transfer because there is a $40 charge to execute the Wire. That would mean I’d pay $40 to withdraw the $50.