Sharewatch/FXCM - Depositing Funds

O

OldBlueEyes

Registered User
Messages
18
Hi,
I have just joined Sharewatch (or FXCM who have taken them over). Does anyone know what is the cheapest way to desposit funds.

I will be despositing euro and was wondering if I will be charged much commission as it seems that my funds will be converted to dollars.

I plan to invest in Irish shares intially.

I appreciate any help/advice.

Thanks.
 
Your money will not be converted unless you specifically ask them to do so. For example if you were to buy dollar shares after depositing euros you will be borrowing the dollars using your euro deposit as collateral & will be charged interest for that facility.

Best ask to convert at time you buy the shares.
 
I have an FXCOM account and I find the easiest way to deposit funds is via credit card. You can make the payment in €'s, £'s or $'s and it is credited to your account almost straight away. Historically in checking the exchange rate used it is better than any other medium. The alternatives are wire txfer (costs €25+ and you get the banks selling exchange rate on the day) or send them a draft\cheque but this can take some time to process.

I have never actually asked them to txfer funds from one currency to another, Sharewatch used to do it on request, but then stopped offering that service, so I am not sure if FXCOM will do it. You can always call them or ask via their 24hr internet query service.
 
Munsterbhoy said:
I have an FXCOM account and I find the easiest way to deposit funds is via credit card. You can make the payment in €'s, £'s or $'s and it is credited to your account almost straight away. Historically in checking the exchange rate used it is better than any other medium. The alternatives are wire txfer (costs €25+ and you get the banks selling exchange rate on the day) or send them a draft\cheque but this can take some time to process.

I have never actually asked them to txfer funds from one currency to another, Sharewatch used to do it on request, but then stopped offering that service, so I am not sure if FXCOM will do it. You can always call them or ask via their 24hr internet query service.
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I have never paid one cent when i transfered money (euro) from my ROI account to my FXCM account.
 
Same as that never paid a cent. I transfer money online using Banking365. The biggest pain I find is that BOI have a 3K limit on International Transfers but otherwise it couldn't be easier.
 
Pauliwalnuts said:
Same as that never paid a cent. I transfer money online using Banking365. The biggest pain I find is that BOI have a 3K limit on International Transfers but otherwise it couldn't be easier.
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Hi, just set up an a/c with FXCM. How long does it take from transfering funds from ur banking 365 to them resting in your FXCM a/c ?

Cheers
 
I am setting up an account. Is it possible to charge your account in sterling, then when the times comes to sell up, withdraw in Euro?
 
I've just set up an FXCM A/C & am wondering what currency to deposit money in.
It seems to me that if I plan to buy different shares/funds in Dollars, euros & sterling then I should deposit money to each of these different FXCM currency A/Cs.
Does this make sense?
 
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