21 June 2011
Oanda
by tanchoo1
Joined: 15 Jul 2010
Posts: 90
Posted: Thu Jul 15, 2010 9:24 pm Post subject:
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Hi all,
You can do free withdrawals with Oanda. Simply open a StanChart bank account (e.g. E-saver account, minimum deposit $1), link that to your Oanda account, and you can withdraw any amount for free once per calendar month. I've tried the withdrawal a few days ago with no deductions. Deposits are always free.
Once you have the StanChart bank account, you can easily transfer funds to/from any Singapore bank account for free. I've linked my POSBank account to my StanChart bank account.
Thus, it is perfect for small fry like me; the only cost you'll ever incur is the low spread. I haven't tried any trading yet though, as I'm still practising.
With such a wonderful setup, newbies can start with just $10 and aim to make $0.10 - $0.20 per trade, with $0.10 stop loss. This is just an example, but with the amount you are risking, it won't cause you to lose sleep.
References:
https://www.oanda.sg/my-account/transfer-funds/withdraw-funds
https://www.oanda.sg/my-account/transfer-funds/deposit-funds
Joined: 15 Jul 2010
Posts: 90
Posted: Thu Jul 15, 2010 9:24 pm Post subject:
--------------------------------------------------------------------------------
Hi all,
You can do free withdrawals with Oanda. Simply open a StanChart bank account (e.g. E-saver account, minimum deposit $1), link that to your Oanda account, and you can withdraw any amount for free once per calendar month. I've tried the withdrawal a few days ago with no deductions. Deposits are always free.
Once you have the StanChart bank account, you can easily transfer funds to/from any Singapore bank account for free. I've linked my POSBank account to my StanChart bank account.
Thus, it is perfect for small fry like me; the only cost you'll ever incur is the low spread. I haven't tried any trading yet though, as I'm still practising.
With such a wonderful setup, newbies can start with just $10 and aim to make $0.10 - $0.20 per trade, with $0.10 stop loss. This is just an example, but with the amount you are risking, it won't cause you to lose sleep.
References:
https://www.oanda.sg/my-account/transfer-funds/withdraw-funds
https://www.oanda.sg/my-account/transfer-funds/deposit-funds
