Sir, I want to ask about depositing forex through wire transfer.
If the capital is small, is it better to deposit through wire transfer or a third party (such as neteller, etc.)? Approximately how much is the wire transfer fee at the moment, sir?
Because I plan to deposit only with around 1000 USD, the problem is if the fee is large, I'm afraid that my deposit will be deducted more.
Maybe you have deposited/withdrawn at oanda, fxcm, or axitrader before. If so, could you please share approximately how much is the wire transfer fee at banks affiliated with these brokers at the moment? In your experience, are the withdrawal and deposit methods at these brokers seamless?
@ Kristin:
From the information, for an amount of around USD 1,000, the shipping cost with a wire transfer via BCA is around Rp.50,000 (administration fee) plus USD 25 to USD 35, depending on the receiving bank. I think for more clarity you can ask directly to the bank.
If using Neteller it can be cheaper and faster, around 1% of the amount sent, with a maximum of USD 10 for a single transaction regardless of the amount of funds sent.
For FXCM and Axitrader Australia I usually use a wire transfer (both for deposit and withdraw) via BCA bank. So far there have been no problems, but it can't be fast, around 3 to 5 days for sending (deposit) and 5 days to a week for withdrawal.
The security factor is a major consideration for sending and receiving via wire transfer. For sending, a fee of USD 25 is charged in addition to the administration fee, and for withdrawal (receiving money from abroad) a fee of around USD 20 is charged, which is the correspondence fee, in addition to the administration fee of USD 5.
Further reviews on broker deposits can be seen at: Weighing the Deposit and Withdrawal System of Forex Brokers.
@Martin Master I'm a beginner, I want to know the deposit process with a wire transfer at BCA. Is it mandatory to have a BCA dollar savings account? Can a BCA rupiah account holder make a wire transfer? Is it allowed for non-BCA customers to make a wire transfer? Please advise, master, this info is also for friends who want to deposit a wire transfer at BCA. Thanks
@ Kurniawan:
- Is a BCA dollar savings account mandatory?
Not mandatory.
- Can BCA rupiah account holders make wire transfers?
Yes.
- Is it permissible for non-BCA customers to make wire transfers?
To my knowledge, it is permissible. Please fill out the transfer form provided. Wire transfers abroad will incur varying transfer fees, depending on the destination country.
@ Vita:
To our knowledge, the policy at any bank, once a transfer receipt is received, it usually cannot be cancelled or withdrawn as it has already entered the process of being sent.
@Martin
My master is a trader who learned from the masters here and successfully profited with a 30% daily profit from capital, achieving a 100% profit from capital in 3 days. I use a foreign NDD broker and plan to add another broker.
After reading the masters' suggestions, I am interested in joining IC Market, an Australian broker. But I'm confused about how to deposit, planning to use a BCA wire transfer. If you don't mind me asking, master, what is the largest amount of USD you have withdrawn? Is there a limit to the amount of transfers from abroad, master? It's troublesome dealing with tax officials hehehe.. eating at a restaurant is taxed, buying goods is taxed, buying land and houses is taxed, it feels like taxes are doubled if income tax is also levied hehehe..
If you could suggest it, master, a tutorial article on wire transfers would be great, with examples of the form, I'm also a bit confused by many terms in the wire transfer form that only bankers understand.
@Indra:
Regarding this, please ask BCA directly.
@ Bambang Saputro:
Regarding an example of a wire transfer form, please ask the bank where you want to make the transfer directly.
@ Hiro:
If you have an account at BCA, then you can withdraw funds from that account according to the amount you want to transfer, and then directly proceed with the transfer to the foreign bank you are targeting. You don't have to carry cash.