Foreign Forex Deposit? When England investors are examined, it will be seen that a large majority of them make Forex transactions through foreign Forex companies. Especially after the restrictions imposed by the SEC as of 2007, the rate of use of Foreign Forex companies has increased considerably. The most important consideration for both Turkish and foreign investors is that the savings gained after the transactions can be transferred safely to the accounts as soon as possible. Especially when we look at The Best Foreign Forex companies, they have almost no difference in money transfer from domestic companies through their partners in Turkey. Only in some cases this process takes longer than domestic companies. Especially in cases where a bank transfer is made, this time interval extends up to 3 days. But we can easily say that transfers occur within a few minutes when the credit card deposit method is performed.
What Are The Methods Of Depositing Into A Foreign Forex Account?
In this article on incoming requests, I will examine the methods of depositing foreign forex companies one by one. At the same time, you will have the opportunity to compare their situations with each other through a table that compares them.
Deposit To A Forex Account Using The Swift Method
The most preferred and trusted method of Forex users around the world is the Swift method. In order to be able to transfer money using the Swift method, you must first have an account at the bank you have selected, and through this bank account you can make a deposit to the bank account of the brokerage firm you use during Forex trading, even though it is abroad. In fact, we can say that the EFT process is an international form, and operations are performed in a very similar way. The biggest difference is the Swift code that you use to deposit money in Forex company banks and get approval. For more information, what is Swift? and I suggest you read my bank Swift codes.
In case of deposit with Swift
In the Swift transaction, money transfers are made through the accounts of banks that are legal, so there are no security concerns and you will not have any problems.
It is a slower method than other methods, and usually the transfer you make within a 3-day period is completely performed. The biggest reason for extending this period is the broker 3 between the account bank you own and the Forex company bank. it is the fact that a bank is engaged and performs transactions between 2 banks. When you look at complaints already made about Swift transactions, you will find that the vast majority of them are due to time. Of course, investors who have just entered the market are concerned because they do not have detailed information about this and believe that it is a negative situation.
Considering the cost of deduction, it is worth noting that it is a little more expensive than other methods. For example, during a $ 1000 investment, the commission that the bank will cut from you is between $ 50-80. Despite this disadvantage, it is still the most commonly used method.
In fact, we can say that it is a very similar method to money transfer with PayPal, which almost everyone has heard about. It was also very widely used, especially in foreign purchases. But with PayPal banned in Turkey, there was an obligation to use alternative payment tools such as Neteller, Skrill. So we can say that it was created as an alternative to PayPal. With this method, you can carry out your money transfers with online wallet accounts that will be created over the internet. In this payment method, the investment and transfer of money is made within 1 day. It is faster than the Swift process and longer and more expensive than other methods. Due to the high commission rates, it is not much preferred in the Forex market. Especially since it is a method that is not very common in Turkey, we can say that investors are staying away at the moment so as not to face problems. The main reason for this is that virtual wallets are used, especially in illegal activities such as betting and gambling. Because of this, in fact, banks do not prefer to trade too much with virtual wallets.
As a result, if you are working with foreign Forex companies and making transactions, our advice to you is to make these transactions with a credit card, which is the fastest, most reliable and most cost-free method. Alternatively, if you have a Limit problem, you can safely use the Swift method. From the point of view of bank security, we can easily say that it is more reliable than online wallets and cryptocurrencies. Methods may also naturally vary from investor to investor. Of course, you will give the appropriate choice after your research.