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  1. #1
    OGRooney is offline Member
    Join Date
    Jan 2013
    Posts
    100

    Question Credit Card Deposit Issue

    Hi, I've just signed up with FXCM Australia and was about to make my first deposit but it is quite clear that the name on the card must be identical to the account name... My bank abbreviates my first name, Oscar, and puts Mr in front of it ie the name on my card is Mr O Goullet-Rooney, not Oscar Goullet-Rooney (The name which the account is in). Will this be an issue?

    Secondly, I have recently moved to a rural area, I've given you guys my new address to register the account but haven't been into town yet to update this with my bank, will this cause an issue? Should I just put my old address as the billing address or am I better off going to my bank first and updating my address details?

    Thanks,
    Oscar

  2. #2
    Julius at FXCM's Avatar
    Julius at FXCM is offline DailyFX Administrator
    Join Date
    Nov 2010
    Posts
    1,631
    Hello OGRooney, and thank you for your post! On behalf of myself and everyone here at FXCM, welcome to the forum community!


    Will I have any issues with depositing by debit or credit card?

    I checked with our operations team and they've confirmed that the situation you described shouldn't cause any problems. Since your middle and last name match the card exactly you should be fine making the deposit. Please click here for more information about how to deposit funds.

    If you provide your most updated billing address on MyFXCM.com there shouldn't be any issues with your deposit even if you haven't updated that information with your bank yet. Please click here for more information about how to update your contact information.

    Please let me know when you've made the deposit and I can help expedite the process for you. Thank you and have a great day!


    Thank you again for your post OGRooney! Please feel free to post with more questions or send me an email directly at julius@fxcm.com

    Quote Originally Posted by OGRooney View Post
    Hi, I've just signed up with FXCM Australia and was about to make my first deposit but it is quite clear that the name on the card must be identical to the account name... My bank abbreviates my first name, Oscar, and puts Mr in front of it ie the name on my card is Mr O Goullet-Rooney, not Oscar Goullet-Rooney (The name which the account is in). Will this be an issue?

    Secondly, I have recently moved to a rural area, I've given you guys my new address to register the account but haven't been into town yet to update this with my bank, will this cause an issue? Should I just put my old address as the billing address or am I better off going to my bank first and updating my address details?

    Thanks,
    Oscar
    Last edited by Julius at FXCM; 01-21-2013 at 06:35 PM.
    Thank you for being a part of our trading community!

    Want to discuss how our resources can help you reach your trading goals? Add your post to join the conversation or feel free to contact us directly at help@fxcm.com!

    We look forward to hearing from you!

    FXCM Online Support

  3. #3
    OGRooney is offline Member
    Join Date
    Jan 2013
    Posts
    100
    Thanks Julius I just made a deposit via credit card after updating my details with my bank yesterday, no problems at all, in fact the funds were available in my trading account instantly, I thought it would take up to 24 hours? I'm not complaining, this is great news, I'd actually been holding off on making a deposit because of said delay. If I may ask one more question of you (off topic), am I correct in my understanding that the .01 trade size is equal to $1000?

  4. #4
    Julius at FXCM's Avatar
    Julius at FXCM is offline DailyFX Administrator
    Join Date
    Nov 2010
    Posts
    1,631
    Hello again OGRooney, and thank you for your post!


    How long does it take to process a deposit by debit or credit card?

    It can take up to 1 business day to see the deposit clear but usually the funds can be applied to your account instantly or in a couple of hours. If a debit card or credit card deposit doesn't clear right away it's usually because there is some kind of mismatch that our operations team may need to review before approving the deposit. Some examples include a middle initial that's not on the account or if it's a business card that's being used to fund a personal account. I'm happy to hear your deposit cleared right away without any issues though!


    Is a .01 trade on the FXCM MetaTrader 4 platform the same as a 1K trade on the Trading Station platform?

    Yes that's correct. So on the FXCM MetaTrader 4 platform if you placed a .01 trade size for the EURUSD for instance, that would be the same as placing a 1K trading on the Trading Station, where each pip that moves is worth ten cents.


    Thank you again for your post OGRooney! Please feel free to post with additional questions or contact me directly at julius@fxcm.com

    Quote Originally Posted by OGRooney View Post
    Thanks Julius I just made a deposit via credit card after updating my details with my bank yesterday, no problems at all, in fact the funds were available in my trading account instantly, I thought it would take up to 24 hours? I'm not complaining, this is great news, I'd actually been holding off on making a deposit because of said delay. If I may ask one more question of you (off topic), am I correct in my understanding that the .01 trade size is equal to $1000?
    Last edited by Julius at FXCM; 01-24-2013 at 05:35 PM.
    Thank you for being a part of our trading community!

    Want to discuss how our resources can help you reach your trading goals? Add your post to join the conversation or feel free to contact us directly at help@fxcm.com!

    We look forward to hearing from you!

    FXCM Online Support

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