ForexTime, or FXTM, the Cypriot Forex and CFD broker, has just launched another option for Forex payments – Indonesia's FasaPay.
In its essence, FasaPay is an online payment system suitable to those who wish to transfer IDR (Indonesian Rupiahs) or USD. The system works with some of the biggest financial institutions in Indonesia: Mandiri Bank and BCA, as well as the ATM Bersama network.
But you must be already wondering about the advantages of this transfer method. For openers, the payment processing is quite fast and you should have your money transferred for about 2 hours. In contrast, using the Indonesian local transfer will take one day for the processing of payments, and using a credit card will require 2 days. For a regular bank transfer the time needed for the processing may be up to five days. There are some commissions on transfers, but they are minimal at 0.5% of the payment amount. Safety of information is also taken into account, as the payment system secures encrypted data transfers.
This is not first time that FXTM attempts to suit Indonesian traders – last month the company added Forex Online Changer to its list of deposit methods, so that the broker's clients can pump IDR into their trading accounts in a fast and commission-free way.
For many of you, such catering for Indonesian traders may seem a bit awkward but let me remind you that the Forex market in the country is booming and is rather attractive for both local and foreign brokers. However, only a handful of these brokers have been as open as FXTM to respond to the needs of local traders and offer some specific payment methods. Among these few brokers is also FBS
, whose list of money transfer methods includes FasaPay too.
Led by Mr Andrey Dashin, founder of Alpari, ForexTime Ltd is committed to providing the tools and support to ensure maximum performance for traders. ForexTime Ltd will offer trading and other investment services in Forex, commodities, precious metals, shares, indices and other financial instruments.
ForexTime Ltd has been granted a license as a Cyprus Investment Firm (CIF) by the Cyprus Securities and Exchange Commission (CySEC), license number 185/12.