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April 22, 2016

Question:What are the fees/commissions of deposit/withdrawal by GBE brokers?

Answer:

GBE brokers offers basically 4 different deposit methods which are:

  1. Bank Wire Transfer
  2. Credit/Debit Card
  3. Neteller
  4. Skrill

Here we will compare these deposit/withdrawal methods in terms of transfer cost and speed.

1. Credit/Debit Card

Credit/Debit card deposit is one of the most popular deposit method to online brokers all over the world.

You can just use one of your existing card and make a deposit instantly with low cost.

In case of credit/debit card deposit, GBE brokers will charge you 2.5% only. The deposit fund will be reflected into your MT4 trading account within 24 hours.

In case of withdrawal you can withdraw up to the amount you deposit before to GBE brokers from the original card, but you can not withdraw more than you have deposited before.

One thing you need to be careful is that when you withdraw your funds through credit/debit card, the funds will be returned to your side by cancelling the previous deposits, so sometimes card companies prohibit the further deposit to the broker where you have once cancelled your payment before.

2. Neteller or Skrill

Skrill business itself has been bought by Neteller and now they are offering similar online payment services though, still these two are two different services.

In order to make a deposit through Neteller or Skrill, you need to have a Neteller account or Skrill account by yourself already.

If you have a Neteller or Skrill account, you can transfer your funds all over the world without worrying about the country borders and with low cost.

The best thing about these online payment services is that you can deposit, withdraw and transfer from anywhere in the world as you can access to your account as long as you have internet connection.

Commissions/fees

In case of Neteller and Skrill deposit, GBE brokers will charge you 3.6% for Neteller and 2.9% for Skrill. And each payment providers(neteller and skrill) may charge 1%(up to 10%) for each transfer.

The cost from Neteller and Skrill is different depending on the account status(like VIPs).

For withdrawals via Neteller and Skrill, GBE brokers will charge you 1% for each transfer. In this case, there shouldn’t be any charged from the payment providers side.

3. Bank Wire Transfer

GBE brokers has got three different bank accounts where you can make a deposit into, which are:

  • Wirecard Bank Germany
  • Sutor Bank Germany
  • Bank of Cyprus

You will need to make a transfer to one of these bank accounts though, if you are going to make a transfer internationally, the banks may charge you more than $20 for each transfer.

Also international transfer takes normally about 5 business days to be completed.

For more details of transfer time and commissions, you will need to contact your bank support desk directly.

GBE brokers will only reflect the amount which they have received in their bank accounts, so the amount reflected into your MT4 account will be transfer amount minus bank commissions.

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