ScootyPuffSr said:I'd say 50-75% of the cards I get have 0% on balance transfers and not purchases. Correct me if I'm wrong, but your way of avoiding balance transfer fees is to use google checkout or paypal for purchases. Of course a purchase won't have a BT fee but it probably won't have the BT rate applied to it either.

you're right, i'll clarify that this is an alternative to BTs by using 0% APR cards only. many BT 0% cards charge a 3% fee on BT and i have merely provided a workaround that i feel is better than 1 and 2. thanks for your feedback.

NukeMedDude said:I can confirm that I've used several different Visa/MC CC's to put money into my Forex.com account as a test to see which ones would classify the charge as purchase, cash advance, etc etc. Every single deposit on several different cards was classified as a purchase. I'm really itching to try it with my AMEX's, to get some extra starpoints, but I'm not interested in increasing the possibility of an FR.

i haven't been able to find any established brokers that accept AMEX without a credit card fee and promotions. let me know if you find one.

When you withdraw money from your forex account - do they withdraw by mailing you a check (what are the fees)? Many forex traders will refund your funding account (credit card) up to the funding amount before mailing out any profits by a check.

ScootyPuffSr said:Green for creativity. Beyond the problem noted in my first comment, I see one other problem.

True, there are very few people doing AoR in the world. However, I'd say a "small" AoR is on the order of $50,000 and many are $200,000 or more. I wonder how many people can make $200,000 in CC purchases, not invest in anything (if I have to take a currency risk the deal is off), have Forex swallow $4,000 in merchant fees, and gladly send me a check/wire with a smile...before accounts get shut down and policies get changed.

i understand your concern, but after talking to the representative and supervisor, the only restrictions would be requiring a number of min trades and thats only if you choose to add option "a" and/or "b". if anyone has been told otherwise, please advise.

I'm sure the golden goose will be dead by the time I jump into the deal, but I'd like to see just one person pump $100,000 using CCs (and get 1%-2% in purchase rewards), make absolutely no transactions, and get a check out with no hassles in a timely manner.

Has anyone actually done this? I saw one person made "purchases" but they never said they pulled the money out.

How long from the time you make the purchase until you get the check? Wire fees?

Once again, OP, I applaud you for thinking differently. I just think it would suck if Forex froze your account for suspicious activity.

ScootyPuffSr said:I'm sure the golden goose will be dead by the time I jump into the deal, but I'd like to see just one person pump $100,000 using CCs (and get 1%-2% in purchase rewards), make absolutely no transactions, and get a check out with no hassles in a timely manner.

Has anyone actually done this? I saw one person made "purchases" but they never said they pulled the money out.

How long from the time you make the purchase until you get the check? Wire fees?

Once again, OP, I applaud you for thinking differently. I just think it would suck if Forex froze your account for suspicious activity.

that won't work. this is taken from their FAQs

What is the maximum deposit allowed via credit card?
We allow deposits up to $5000 in a calendar month per credit card. The minimum deposit accepted by credit card is $250.

as such, most AOR have 10 cards. 10x5,000 = 50,000. avg person will prob be able to only fund 50k

...

How long does it take to receive a withdrawal by check?
Funds withdrawn from FOREX.com via check are sent by standard US mail. The time that it will take to reach you is dependent on your location. If you require your funds sooner, you may wish to withdraw by a bank wire. US wire transfers generally take between 1-2 business days, whereas international wire transfers typically take 2-4 business days.

Please note that bank wire withdraw has a fee of $25 for domestic wires and $40 for international wires. Withdrawals by check are processed at no charge.

JohnGalt69 said:From my understanding of the promo, you are going to get totally fed on the required trades. Let us know how it goes.

The value of cash transactions coded as purchases goes far beyond avoiding BT fees. Anyone know of similar possibilities?

you're correct. if you have no experience in trading, i don't suggest you apply for promo A or C. if you have a little experience, i suggest you trade somethign safe like USD/JPY etc., since USD is showing good signs since feds keeping the interest rate., and trade it quick. worst case scenario, you lose some money but the money you lose will most likely be less the the amount received for the promo. jairocon gives a good scenario here to minimize potential loss, trade something with small spread i.e. EUR/GBP = 71/74 = loss of 3 per trade if u bought/sold that instant.

im planning on funding with CCs later this wk. keep u up to date.

DaveHanson said:Green for good thinking OP.

Why (and what) did FW mod edit from the OP.

I'm just guessing, but the OP originally was asking people to PM him for a referral bonus (mutual bonus for both).

Be careful with this idea. There is no "safe" forex trade--and with a spread of 2-6 pips on each quote, forex.com stands to make a commission of $20-$60 on every trade even if the price quoted doesn't budge. That commission comes out of whatever profits you think you're going to make with this scheme.

Forex.com also says; "Accounts funded via credit card may be restricted to receiving withdrawals via credit card." So when you want your money back, you might just get a refund to the credit card used--wiping out any benefit of this idea. And there's also this warning:
Anti Money Laundering Policy

FOREX.com actively complies with all anti-money laundering and anti-terrorism laws and regulations, including reporting and blocking of assets, to the fullest extent that it can do so under all applicable foreign and domestic laws. On an ongoing basis, FOREX.com shall review account activity for evidence of suspicious transactions that may be indicative of money laundering activities. This review may include surveillance of: 1) money flows into and out of accounts, 2) the origin and destination of wire transfers, and 3) other activity outside the normal course of business.

Also, you'll note that American Express isn't listed as a funding source--because AMEX will charge the "purchase" as a cash advance. Forex.com has no control over that for any of its charges, and it's known that there have been changes in classification of such cash equivalents by other banks months after the original coding of them as purchases.

Not exactly a sure thing in any sense...