forgetme said: petscii said: Is it just visa/mastercard or can us Amexites play? It's not super clear on the web page. Other than Mastercard.
Don't think you can use AMEX (I'm trying and keep getting "Invalid Credit Card Number" errors). Bummer, was hoping for 10k starwood points!
In my limited experience, I don't recall AMEX working for funding any deposit type accounts. AMEX was great for travelers checks and now dollar coins.
RagingBull
Ancient Member
posted: Jul. 8, 2009 @ 10:07p
anyone here tried with this a bank of america credit card like the charles schwab? and this will be a purchase?
Yea it is true that the rep said it would be a purchase, but it is up to the bank to decide at the very end what it is determined. Because some banks may reclassify it as a cash advance
carefreeninja said: I am totally new to options trading and opened account only for the bonus. Can somebody please post steps on how to put a trade for minimal amount?
DiscountSAE said: carefreeninja said: I am totally new to options trading and opened account only for the bonus. Can somebody please post steps on how to put a trade for minimal amount?
He is not assuming A LOT of risk if he's only interested in doing the bare minimum to get the bonus. And I would like my hand held on this one too. Pretty please - with sugar on top.
jinwings
Member
posted: Jul. 9, 2009 @ 8:23a
I never dealed with Forex or trading for currency before. So what's the minimum amount $ for a single trade? Just to reduce the risk? thanks!
DiscountSAE said: carefreeninja said: I am totally new to options trading and opened account only for the bonus. Can somebody please post steps on how to put a trade for minimal amount?
Yeah, I concur. I just funded my account and have no idea how to trade. I don't want to learn forex, just looking for a step by step to make a minimum trade. I think I already screwed up my choosing a standard account rather than mini.
And on another note, to make sure I get to 10,001 (even though the terms say 10K should qualify), I used a Rewards checking debit. This looks like it might be a good way to get your required debit card purchases (though abuse will surely kill it eventually)
mmy613
Member
posted: Jul. 9, 2009 @ 10:52a
i called up and was informed that there you cant trade options through your forex account
the best option that i see is to trade xau/usd which is Gold the 1 lot is 10 ounces of gold with a 50 cent spread it would cost $5 second best xag/USD which is silver and 1 lot is 500 ounces with a 5C spread it would be about $20
mmy613
Member
posted: Jul. 9, 2009 @ 11:05a
just did the trade Here is my step by step On the left side click on the Xau/Usd that will ad that to the top then by lot i typed 1 hit buy then i hit continue typed in 1 and then hit sell i did this on two accounts one account cost me $8 and the other one the trade cost $5 Time to get my money out on second thought maybe i leave the money in until the bonus posts
I did the xau/usd as well. I placed a bid at 150.80, and then I sold it at 150.70. The loss is $1. Is there any charge on top of that?
I guess if I give it a longer time, I may earn $1 instead of losing $1. But anyway, this is not a game for me. Too much pressure. I will just wait for the bonus to show up and then do a withdraw.
i63Aps
Member
posted: Jul. 9, 2009 @ 11:31a
Can you do pre market and post market trading with Zecco ?
carefreeninja
Member
posted: Jul. 9, 2009 @ 12:26p
mmy613 said: just did the trade Here is my step by step On the left side click on the Xau/Usd that will ad that to the top then by lot i typed 1 hit buy then i hit continue typed in 1 and then hit sell i did this on two accounts one account cost me $8 and the other one the trade cost $5 Time to get my money out on second thought maybe i leave the money in until the bonus posts Are you sure you need to Buy and then Sell. I was told by a CSR to buy and then square the position by from the bottom half of the screen. I can't connect to zecco else I could tell exact steps I followed.
carefreeninja said: mmy613 said: just did the trade Here is my step by step On the left side click on the Xau/Usd that will ad that to the top then by lot i typed 1 hit buy then i hit continue typed in 1 and then hit sell i did this on two accounts one account cost me $8 and the other one the trade cost $5 Time to get my money out on second thought maybe i leave the money in until the bonus posts Are you sure you need to Buy and then Sell. I was told by a CSR to buy and then square the position by from the bottom half of the screen. I can't connect to zecco else I could tell exact steps I followed.
Yes, you can use square to liqudate your position. At the left bottom of the screen, select "Position" and you will see all the positions you own. There is a SQR button on each row. Just click it and you can sell all.
Walletisgettingfit
New Member
posted: Jul. 9, 2009 @ 2:03p
Called my credit company, they won't lower my cash advance limit. Will wait till I see the reports from brave guys.
jinju
Addicted Member
posted: Jul. 9, 2009 @ 2:11p
Bit on this, $200 was too good to pass up. Split the deposit across three cards, called the zecco rep beforehand to re-confirm that it would be treated as a purchase. Charged 5K to one card with a 3500 cash advance limit, it shows a pending charge from GAINCAPITAL for 5K.
The CSR also informed me that any deposits within 24 hours of the initial deposit will also be counted along with the initial deposit.
billionen
Member
posted: Jul. 9, 2009 @ 2:20p
chase Amazon visa classified as purchase. Also, Chase Amazon.com CC denied the charge at first (fraud concerns) and required a phone call to clear things up...others might want to call first.
does all $10000 need to be executed on 1 trade and how long must you buy before you can sell, or can I just buy 1 share of coca-cola and then sell it the next day?
Well I almost made a profit, bought gold, jump up about 5 dollars, went to the bathroom, down 7 dollars. Oh well, I'm definetly not going to become a forex junky, thats for sure.
You need to be little bit more strategic. For example: Don't go to the bathroom.
VerbalK said: Well I almost made a profit, bought gold, jump up about 5 dollars, went to the bathroom, down 7 dollars. Oh well, I'm definetly not going to become a forex junky, thats for sure.
carefreeninja
Member
posted: Jul. 9, 2009 @ 7:36p
Did somebody withdraw the money using Zecco wire transfer? On second thoughts - If Zecco keeps on letting us add money thru Credit card then CashBack opportunity is unlimited.
Xeon852
Senior Member - 1K
posted: Jul. 9, 2009 @ 7:43p
RagingBull said: anyone here tried with this a bank of america credit card like the charles schwab? and this will be a purchase?
Yea it is true that the rep said it would be a purchase, but it is up to the bank to decide at the very end what it is determined. Because some banks may reclassify it as a cash advance Back when it was MBNA, they req-classified a neteller transaction (which was processed as a purchase) as a cash advance and hit me up for the cash advance fee. No clue if they still do it, but I was going to play it safe and use my Penfed card since it has no cash advance fee.
Anyone find out if you can pull credit card deposits out by check? On one of the withdrawal pages I saw, it said that it was only for deposits made by check or wire transfer. I emailed the rep that called me when my account was approved, I'll see what she says. Also, she told me all deposits within 72 hours of each other count towards the bonus.
I'm kind of weary about doing the $10k if they make withdrawal a pain. I'm tempted to go for just the $2501 for the $100 reward. May hold out a bit and see what results others see.
narshe14
Senior Member
posted: Jul. 9, 2009 @ 7:52p
carefreeninja said: Did somebody withdraw the money using Zecco wire transfer? On second thoughts - If Zecco keeps on letting us add money thru Credit card then CashBack opportunity is unlimited.
carefreeninja said: Did somebody withdraw the money using Zecco wire transfer? On second thoughts - If Zecco keeps on letting us add money thru Credit card then CashBack opportunity is unlimited.forget it... you'll get called out immediately for laundering (or the appearance of)...
Currentbydiscover.... StateFarm gift card... aafcu....
all dead options because of abuse..... don't do it...
use common sense.
edit: full disclosure (I gamed M & T bank too hard back in March 2009)
krk77
Senior Member
posted: Jul. 9, 2009 @ 8:26p
can anybody confirm how chase Freedom credit card treats this transaction(funding)?
swagatalakshmi
Member
posted: Jul. 9, 2009 @ 8:29p
People who do not have $10,000+ to invest can take advantage of this offer in different way (I'm going to try):
1) Open an account with $2501 and get $100 2) Open another with your spouse and get $100 3) Open a joint (with children or spouse) and get another $100
Chase Freedom is not processing this funding you may need to call customer care and need to confirm that you did this transaction then they will unblock your card , 2nd time you can fund this account using the same card.
wca53
Member
posted: Jul. 9, 2009 @ 10:21p
Becareful for those who funding by credit card, I got hit by cash advance, not worth the trouble. Too much risk for too little money. I will never do it again, I will just go with my Coin purchase deal, so far is the safest deal.
wca53 said: Becareful for those who funding by credit card, I got hit by cash advance, not worth the trouble. Too much risk for too little money. I will never do it again, I will just go with my Coin purchase deal, so far is the safest deal. Ouch!! Care to share which Credit card.
good luck. however, this scares me off (for now): "This offer is non-transferable."
It'd be pretty easy for them to neg people that didn't get the original e-mail, if they so choose.
nicetimes
Member
posted: Jul. 9, 2009 @ 10:35p
when your funds available for trading? I opened my account and funded $20,0000 with credit card last night, got approved this morning. But account balance is still zero by now. Just wondering when I can make the trade and withdraw my money with check. Thanks.
DiscountSAE said: What is interesting about the Forex.com promo and the zecco forex promo is that they are the exact same forms and promo codes. The forex.com promo looks like it has a stricter requirement for keeping the initial deposit in the account: "To withdraw cash bonus, initial deposit must not be withdrawn for a minimum of 90 days from the first trade." vs. zecco forex: "Cash bonus cannot be withdrawn within 90 days of initial funding."
Even with zecco's wording though, I'd think there's a small risk that they could say if you withdraw any money, it comes from the bonus first before your deposit, thus invalidating the bonus if you do any withdrawal within 90 days.
stricken said: Does anybody used Scwab for this offer? Any cash advance fee?
Charged last night. Paid to CC today. No fees yet.
kenfeyl
Member
posted: Jul. 9, 2009 @ 11:11p
wca53 said: Becareful for those who funding by credit card, I got hit by cash advance, not worth the trouble. Too much risk for too little money. I will never do it again, I will just go with my Coin purchase deal, so far is the safest deal.
Yuck... this has me spooked. Please share which credit card. I funded today with the maximum of $5,000 from my Chase Freedom card and it has already appeared in my Forex account. But before I actually trade, I am going to check how this posts to my statement. If I need to, I'll write the darn check for the remaining $5,001 and snail-mail it to fund my account. What's up with no ACH?
How will I know if it posted as a purchase or a cash advance?
Thanks pisistratus, I'm sure there are plenty of wolves here waiting to clear go for schwab
livedog
Senior Member
posted: Jul. 10, 2009 @ 12:27a
I funded with Schwab... still worried about it getting classified as a cash advance. I'm going to pay it off now. I just did the XAU/USD trade as described above. I guess I bought 10 ounces of gold ($9140 position!) and then sold the 10 ounces of gold within a second or so. The entire trade cost me $6... Man this stuff is scary. During Thursday, gold moved within a range of $11/ounce. So, at a lot size of 10, your bet would have gone up or down by $100 if you held it all day. One thing that worried me is if the internet went down just after I bought the position... and then things moved against me.
Before signing up for this deal, try out the "Practice" trading. It is free and it will give you an idea of what the interface looks like when you get in.
I think this is really close to legalized gambling. It is a seedy area of investments...
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