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Dan_Parker

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  1. Do you mind if I ask who you bank with and how you find the exchange rates? As I think I will have to go down that route as CMEG added a bit extra detail to it saying that they could receive from a TrasnferWise account but wouldn't be able to send money back to it, so anything I withdraw from my CMEG account will need to go into a (for want of a better term) proper bank.
  2. Thanks for the quick response Peter, I see, that makes sense. I did email CMEG around it as well and they said they can accept TransferWise if my bank doesn't allow me to send in US Dollars. However with a bit more research on the TransferWise website it suggests that it uses the SWIFT network to send USD to Trinidad as it is outside the native country of USD. So additional charges could be added depending how many banks it has to go through to get there and they can't give an indication of how many that is before it goes. If only I did have dual citizenship somewhere else this whole thing would be easier! A bit more research required it seems!
  3. Hi all, My name is Dan, based in the UK and I'm new to the BBT community, I'm currently in the planning stages of day trading and looking at brokers. Through research I think a good fit will be to go with CMEG as I will be starting under the $25k PDT ruling and I want to use DAS. However another aspect that will affect my setup is currency exchange. I know you need to spend money, especially in setup however looking at some of the exchange rates from £s to $s out there it could potentially cost you 4.5%+ of your initial setup if you have to send money with HSBC or other high street banks So I was just wondering what the general consensus was to ensure that this doesn't eat into my P/L before I even start trading1? I read the CMEG FAQs and it says "we only accept wires that come directly from your personal account. We DO NOT accept third party or credit card payments". Does that suggest that it needs to come from a personal bank account from a high street bank or do people regularly use things like TrasferWise, Western Union etc. without any issues? Any advice from your experiences are appreciated, Cheers Dan
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