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Broker with e-currency - Are they reliable enough?

SIM
pip2cash
Aug 02 2010 at 17:54
423 posts
Hi,

Some forex brokers provide deposit with e-currency, such as Liberty Reserve, Perfect Money, EuroGold Cash, AlertPay, WebMoney and etc..

As i know, these e-currencies can become worthless anytime, eg. e-gold. If this is true then why forex brokers still accept using(deposit and withdraw) e-currency?

Do you think that we can judge a broker(Financial reliability) by deposit method? Because i realized that famous forex brokers do not accept e-currency.

Any comment?

Thanks,
SIM

SIM
pip2cash
Aug 03 2010 at 03:03
423 posts
Touareg
Aug 03 2010 at 03:40
94 posts
Iam never use all those, to risky for me .. !

Try not to be greedy trading with no emotion
SIM
pip2cash
Aug 03 2010 at 08:44
423 posts
hi,

anymore comment?

Marco Pearlo Encarnacion
pearlo
Aug 03 2010 at 08:50
127 posts
i used this kind of service, i signed up with exness and used moneybookers. i used exness coz of the 1:1000 leverage and cents account. i used moneybookers coz it is somehow the same as paypal. i dont trust those other e-currencies.

Marco Pearlo Encarnacion
pearlo
Aug 03 2010 at 08:56
127 posts
pip2cash posted:
    Hi,

Some forex brokers provide deposit with e-currency, such as Liberty Reserve, Perfect Money, EuroGold Cash, AlertPay, WebMoney and etc..

As i know, these e-currencies can become worthless anytime, eg. e-gold. If this is true then why forex brokers still accept using(deposit and withdraw) e-currency?


true, e currencies can become worthless, that why you need to choose the best for you, choose the ones that are regulated.

pip2cash posted:
Do you think that we can judge a broker(Financial reliability) by deposit method? Because i realized that famous forex brokers do not accept e-currency.

Any comment?

Thanks,
SIM


other famous brokers use paypal, so it is pretty much the same, in exness they only accept e-currencies for the mini and cents account, for the standard/classic account it should be wire transfer.

SIM
pip2cash
Aug 03 2010 at 09:21
423 posts
Hi Macro,

Thanks for input.

SIM

DarkProdigy
Aug 03 2010 at 15:04
45 posts
The process to cash in and out of these products are just tedious anyways...just dependent on 3rd party sites so that they (the e-currency) don't have to deal with privacy, exchange issues, and chargebacks.

SIM
pip2cash
Aug 03 2010 at 15:09
423 posts

DarkProdigy posted:
    The process to cash in and out of these products are just tedious anyways...just dependent on 3rd party sites so that they (the e-currency) don't have to deal with privacy, exchange issues, and chargebacks.


How does your point related to justifying reliability of a brokers?

Please clarify some more.

Thanks,
SIM

DarkProdigy
Aug 03 2010 at 15:48
45 posts
It really doesn't but my point more or less is why bother....

It's just fee after fee after fee with most of these e currencies.

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