I just spoke with a Forex advisor and was told a very astonishing fact… ?
He told me if I start my account with my cc card and lets say I fund it with 5000$…I CANNOT TAKE ONE PENNY OUT OF MY “WINNINGS” UNTIL MY ENTIRE CARD IS PAID OFF! :eek:
So if I am so fortunate to make in my first month a 1000$:o …and I would like to take lets say…150$ of that to make my cc payment or go out to eat…ect
NO CAN DO!:mad:
…Not from that account anyways…I was a bit disturbed to hear this. So of course I offered the scenario of lets say some how by the grace of God I was able to make not only the 5000$ I borrowed from my cc card…but an additional 1000$… Can I have that 1000?..
YES …BUT …wait til you hear this…"They will send my 1000$ to my cc card company not me! and then, when their good and ready…my cc company CAN send it to me…! SAY WHAT!
Yea…I am sure they are going to rush to what amounts to an over payment in their favor to me ASAP…jeez oh man my heart has sunk low fella’s…
Have any of you every heard of this…? Have any of you ever recieved a check from your cc card company for forex…are they reliable, how long was the turn around time…?
Heck and I thought my worries were just with 400:1 vs 200:1 leverges…!
I deposit via CC to the broker i use.
And my CC Deposit is instant… there is no dramas or such stuff like this.
And when suppose i deposited $5000. And just presume. you said heck what is forex. i want my money back… simply fill the withdrawal form. in 1-2 days its in your bank account under your own name…
Ok here is what FXCM said (Thats where I have my account).
The balance on the account does not have to be fuly paid off for them to put funds on the credit card.
The onlu ting with the credit card widrawls is that you canot withdraw by credit card more than the amount you deposited with the credit card. They do it as a return of funds.
The rest of the money you want to withdraw has to be done by wire.
I just spoke with a Forex advisor and was told a very astonishing fact… ?
I would say your “forex advisor” has this wrong, unless of course the
cc company is the forex company.
What I would say to you plus all people who are just starting out is
caution. Like all forms of speculation (note I did not use the term “gambling”)
you need to only speculate what you realistically can afford to lose.
…wait til you hear this…"They will send my 1000$ to my cc card company not me! and then, when their good and ready…my cc company CAN send it to me…! SAY WHAT!