it's an interesting idea, but tehre are a lot of potential catches. I have several 0% purchase cards and could put in maybe $30k without going over 90% utilization... tempted, but I don't want to be the first one!

They offer a practice trading platform, which I've downloaded. Lots of pretty graphs and stuff, and a very sexy woman talks to you when you push buttons. I think I'm short the yen and long the Euro, both against the dollar. But I could have that backwards or sideways, I don't know. I am sure those are the 3 currencies involved, lol. But really it sure isn't like trading Nasdaq in 1999. A whole lotta nothing going on.

ls7corvete said: it's an interesting idea, but tehre are a lot of potential catches. I have several 0% purchase cards and could put in maybe $30k without going over 90% utilization... tempted, but I don't want to be the first one!

Ditto, maybe someone with experience from forex trading or forex.com can share some opinions. Like the rest of FW I would like to know how to do this with minimal risk of loss.


try this site http://www.cmsfx.com/en/forex-center/forex-online-tutorial/

ls7corvete said:Namshik said:ls7corvete said: it's an interesting idea, but tehre are a lot of potential catches. I have several 0% purchase cards and could put in maybe $30k without going over 90% utilization... tempted, but I don't want to be the first one!

Ditto, maybe someone with experience from forex trading or forex.com can share some opinions. Like the rest of FW I would like to know how to do this with minimal risk of loss.


try this site http://www.cmsfx.com/en/forex-center/forex-online-tutorial/

Good information guys but I was looking for advice on how to deposit with CC, make the minimum transactions required and withdraw via check, ACH etc, all with minimal risk.

From what I have read forex.com seems pretty shady but I have no experience here.

when you mean shady, if you're referring to the restrictions on the min # of trades, those are only required if you choose to add the promotional items for referrals and/or deposit bonus.

Having done this with multiple brokers and quit due to an unfavorable risk/reward ratio, I can say it is risky and often not worthwhile for a 1-2% churn. Here's why

1) Before every withdrawal above 2500, the accounting department does a quick check on your previous quarter/year (depends on their whim and on the broker). If you do not have a certain number of transactions (they never say how many that is, but in my experience it is around 30-45 transactions with at least 1 lot/minilot per round trip), they automatically refund the money via credit card, even if your initial deposit was by check or debit card. What they actually do is check the authorization details for your last deposit via CC and post a credit through a reverse (like a refund).

2) I have searched for a basic scalping strategy that requires no constant monitoring and would get me 30-45 transactions with breakeven results. I've read the major forums, in English and Russian, and have found nothing like that in all the strategies people have posted. It might exist, and if you've found it, kudos to you.

The combination of forex risk, the need to make many transactions to be able to get cc money out via check, and the inspection every withdrawal undergoes makes this risky and very time-consuming for such a low churn percentage.

Having said this, it should work for your first 2500-5000 in deposits if you are willing to make a few trades and keep your money with a broker for at least half a year.

This has been discussed before. I'll try to find the archives.

Okay, let me tell you how they, the FW geniuses did it. First they made a......Sikes! I do think if we tell you, it will not work any longer. You guys got a big mouth. Hey guys, these newbies have a blabber mouth, becareful what you tell them or it will hurt us.

If anybody is interested, I just added a list of credit cards with 0%/low APR for purchases to the thread about 0%/low APR credit cards (used to list credit cards with promo rates for BTs only).

Minimum Trade trade would be a $100,000 lot with 1 to 100 margin (futures traders think this is crazy, but trust me, it is not) So $1000 principal is used to back up the minimum trade lot.

USD/EUR cross, in my opinion is the most traded and with a 3 pip spread it is one of the cheapest. Each pip on a minimum lot trade is $10. So 3 pips x $10 is $30 cost to trade if you open and immediately close a trade at the same price.

10 trades is required to get the minimum amount of money on a $25,000 account. Therefore if you open and close a trade at the same price you are spending 10 x $30 = $300 to gain $200.

If you want to profit from this deal, you will need to learn how the forex market works so you can make profitable trades and close your account 10 trades are completed or if your risk seeking enough continue trading like myself.

And no, I haven't taken of this advantage yet, I currently use another forex broker.

Eh, I dont like the spread on forex.com.

If I can find anouther site with better spreads I would consider this.

I'm currently using fxcm as my forex broker (no initial deposit bonuses) - but I only trade for fun with my play money.

Since my trades are usually executed within a span of hours (buy/sell) I never had to deal with interest charges. Recently I shorted EUR/USD and decided to let the trade run until I hit my limit.

So I shorted 1 mini lot ($100) EUR/USD at 1.3300 on 3/16. It's gone up and down (my limit is set to 1.3200, and it's hit as high as 1.3410 but I still have enough confidence in the trade anyway).

What I didn't realize is that because of the interest differential btw EUR/USD, I'm making $0.56 in interest every single day while the trade is open. If everything was left being equal, I'd make $204.40 in interest on a $100 deposit(trade) in 1 year!!!*

*remember this is because of the fact that 1 mini-lot costing me $100 is in fact $10k being traded (100:1 margin).

Of course nothing stays the same in a forex market and the sheer unpredictability of it makes any investing pretty much a bet. Still, with dollar being at historical lows against EUR - it could make sense to short a larger amount and set your limits. You either could make profits by hitting your limit order, or if it takes longer - you'd be making money through the interest differential. (Then again you might as well lose it all)

Anyway, just a thought.