Hello there,
Could anyone explain whats the best way to deposit a trading account without incurring any transfer charges.
Some brokers suggest using E-wallets like paypal, but paypal does charge you certain % every time you deposit.
Correct me if i’m wrong.
Also is it safe to use the Credit / Debit card option ?
FYI, i currently live in OMAN, and am trying to open an account with pepperstone which is based in Australia.
Any information is welcome.
Thank you
Check into the firm’s terms & conditions. e.g. for UK-based firms, they will only credit you with cash you want to withdraw back to the same bank account / bank card / credit card etc. that you used to make the original deposit: this is to combat money laundering. So make sure if you put money in using a certain method, the same method will be OK to draw it out.
I think, E-wallets cut the charge during the withdrawn session; not on deposit time! This system (percentages of charge) basically depends on your broker! So, select the broker according to your personal requirement!
There are different type of trading method different broker are using for their transaction. The best way to get your answer is check your brokers each and every payment method. Also check those methods terms and conditions. I prefer bank wire transfer or skrill. It is safe and cost effective for me. But finally all is up to your broker that what method they are expecting. Debit or credit card is safe but it charge a certain amount for once in a year while withdrawing the money.
I use debit cards for first time when deposit amount in my trading account. hat time I did not know about other methods, Now I can use many others ways that my broker offer or that are easy for me to use. Online processors are also choice of mine for withdraw money from my account.
I trade with pepperstone
i used Card Option
there’s no issue with it, Feel free to do so
i would stongly advise AGAINST using Polipay in case you were going to
Thats Right. Thanks mate
Could you elaborate me about the online processors. Have not heard about that one before.
Thank you
Would Like to know if skrill charges you on every withdrawal or during any phase?
Thanks
Hello Martin,
How is your experience with pepperstone,
From what i can tell, they have top notch customer service.
Also, is it safe to save your Debit card details with the broker platform, as i read it is not safe in some cases.
And if you dont mind, what is the issue with Polipay?
Thanks
hehe… TOP NOTCH… hehe… Not Quite 
let’s not say things we can’t take back… ok
i would say it’s ok
it’s above average compared to other brokers
so all in all OVERALL i would say i’m happy
Now. i’ts not about customer service either.
i mean… I’ve come across some retards that work there whose customer service is appauling.
but IT’S ABOUT MAKING MONEY, Not about being treated like a customer
if you don’t like someone you simply say
let me speak to the manager
then tell the manager
i don’t want to deal with this guy every again, give me a new account manager
simple as that
and they will
how do you mean ?
do you mean is it ok to save the details in your client area
or
do you mean is ok to give them your details
well. IT’S YES IN BOTH CASES
the online thing is just a formality for ease to you
if they wanted to steal your information they would have done it when they get your drivers licence and photo id and card information etc…
they wouldn’t need to setup an online thing to take your money
now. if they do (but they won’t) you can always cancel the card from the bank
and then YELL BLOODY MURDER TO EVERYONE THAT YOU KNOW
as a business owner, i can tell you , it would be universally stupid for them to take your money.
i mean… what would you have $1,000 at best MAYBE
maybe $5,000 if you’re lucky
so, they take $5k and for what
to lose millions in clients…NO MATE, it’s not worth it
they can make more money on people if they give the impression that they are honest.
so it’s fine
give them your card details
but if you want to be safer, set up an account with the bank that only has funds that you are going to trade, so you don’t actually give them access to your main funds.
as for what you’ve read
maybe you read this for other brokers
i don’t mind…
unreliable and makes excuses
i don’t want to hear excuses
i want to hear that it transferred successfully
they have on several occassions doubled up amounts
example
i might fund an account (now , granted it’s been years since i funded with smaller amount slike this ) but… i might have put in say $400 or whatever $200 - $400
i fund it by polipay
in my terminal it shows up as an extra $400 so… you think everythings normal
then let’s say you make $600 profit, so you now have $1,000 for example
you then want to withdraw that
AND THIS HAPPENS…
they come back and say … oh wait, hang on
we are only going to pay you $200
and you ask why
and they then tell you
when you funded the account months ago, we made an oversight and we double credited your account
Now… that’s horse crap because you’d see it in your terminal account balance
but they show it to you in your history and you can’t argue
now… isn’t it funny how… While with polipay this happened a few times
yet, ever since i switched to Card IT NEVER HAPPENED ONCE
like i said, i don’t want excuses
i just don’t want it to happen… simple
and with card funding it doesn’t happen
and there are no fees
That clears up a lot for me.
Whats your take on using paypal for deposits and withdrawals, compared to Card method.
Would like to hear your experience about that if possible.
Thanks
i don’t use paypal… i don’t see the point
the Credit/Debit card deposit page in Pepperstone says this,
Processing Time: Instant, 24 hours a day.
Currencies Accepted: AUD, USD, GBP, EUR, JPY, NZD and SGD.
Card Types Accepted: Visa, Visa Debit and MasterCard.
Fees: Typical transaction fees apply of 1.8% for AUD deposits and 3% for all other currencies.
It says they charge a fee for card method.
I guess they just have not updated their page, from what your saying.
that’s weird
i don’t pay fees on transfers
also LET ME TELL YOU SOMETHING ABOUT THIS
yes… if you are funding the account and your bank has approved pepperstone as an authorised payee, then yes it’s instant
you might have a hiccup on the first time though
but when withdrawing, they say THEIR TIME is 24 hours but then THERE IS BANK CLEARANCE TIME AS WELL
allow about a week in my opinion
That was helpful,
Thanks for your time buddy 
No problem at all mate
it’s possible
i would jump on chat and ask them just in case
but, i have a Razor account, not sure if it matters
i have never been charged to do a transaction with them when funding or withdrawing
I usually do initial deposits with a debit or a credit card and later on withdraw money with a bank transfer. To do that you do need a broker that will pay your transfer fees an who you can trust, obviously.
Also, if the broker you’re working with has an office in your city you can just visit the office and do a cash deposit and/or withdrawal.
No… i don’t TRUST THEM… Not at all
we merely have an agreement
if they break it , they get sued
there is no trust here.
i’m not sure about that
what i do know is this…
if they don’t pay up, i can go down to melbourne from sydney with a sledge hammer and break their windows and knee caps HEHE… Just kidding hehe
i would do the polite thing and Sue them hehe
after all we have to be civilized.
now as for this
i prefer direct transfer
but they have this rule of … You can only withdraw to the NOMINATED ACCOUNT that you funded from
it’s similar to direct deposit, they fund the card, the card is linked to my account