Funding a forex account is easy with paypal. Since I’ve set up paypal to link directly with my Australian bank account, as long as I have money in the bank account, everytime I deposit money into my forex account, it will be done in around an hour.
In terms of transaction fees, here’s what I’ve found out. Paypal charges 2.4% + $0.30 for every transaction. So for example, if you’ve requested to deposit $1000USD into your forex account, you will only actually get $975.70USD deposited after taking out the paypal charges. There was no charge from my forex broker (I’m using fxpro).
I’ve tried using credit card for funding my account but found out that the charges were higher compared to paypal. In that case, both my bank and forex broker charged me a transaction fee.
How do you fund your forex account?
Leave a Reply