While many who trade within the forex market choose to use international debit cards and credit cards, international banks are beginning to capitalize on the market involved with these convenient cards. Asia Commercial Joint Stock bank plans on collecting a flat fee per transaction after the rate difference.
What this means for you is money coming out of your pocket whenever you make a trade. Forex debit cards are a great choice for those who trade heavily in the forex market, as they allow traders to swiftly transfer cash from account to account without any major wiring fees. While the new fees imposed by banks are cracking down on the forex bubble, cards are still the best way to transfer currencies between traders, and cuts back drastically on costs.
Traders beware, however. Check around to make sure you are getting the best rates available. Some banks offer lower fees and so some careful shopping will go a long way in saving your hard earned cash from being eaten up by bank fees. For instance, Sacombank only charges a 2.1 percent fee on the difference on all types of international credit cards and debit cards. Traders can find a bank and a debit or credit card that can work for their accounts and trades.
International debit cards are a great way to speed up your trades and transactions, and transfer money automatically. See your forex account manager today for more information and find out how you can take advantage of this inexpensive way to trade and transfer foreign currencies.
InterbankFX ( www.ibfx.com ) offers a free demo forex account and an FX debit card for convenient trading. Take advantage of the premium online platform's constantly updated charts and information.