What limited buy means for YOU

Gee, Svar, did you ever read this?

http://www.slexchange.com/modules.php?name=Content&pa=showpage&pid=4

Currency Exchange Trades

The Currency Exchange does not charge commissions in the traditional way. Instead, we have "spread pricing" where buy and sell orders are filled at different prices. The benefit to traders is that you get what you see. There is no need to calculate commissions to determine if you made a profit.

All trades: 60 pip spread

* 1 pip equals 0.1 Linden Dollar per US Dollar. At competetive market prices, this makes the SL Exchange proceeds about 2% of each transaction.
* Click here for more information about spread pricing.




Currency Exchange Trades

The Currency Exchange does not charge commissions in the traditional way. Instead, we have "spread pricing" where buy and sell orders are filled at different prices. The benefit to traders is that you get what you see. There is no need to calculate commissions to determine if you made a profit.

All trades: 60 pip spread

* 1 pip equals 0.1 Linden Dollar per US Dollar. At competetive market prices, this makes the SL Exchange proceeds about 2% of each transaction.
* Click here for more information about spread pricing.

I am *not* saying you can't make money as a day trader or arbitraging the exchanges. I am saying though that L$ is getting double taxed.

Someone has to make a matching order to your order, and that order will get billed.

Though I agree the 2% deal is a better deal than the 3.5% that LL is doing to you. Thanks for bringing it up.

Also, you can't do limit buys off your CC, so how do you get your USD from slexchange back to lindex?

Anna, just set up a PayPal account and link it to your bank, LL, and SLexchange. You use mass pay to move your money. Each transfer will cost you $1.00 but if you are moving lots of cash the actual cost is less then .1%. So if you buy on Lindex transfer the L$ to SLexchange for free, sell the L$ there then transfer first to PayPal then to LL and you are ready to do it again. Or if you want the money in your bank the second transfer goes there. For example, you buy or have $2000 worth of L$ on the LindeX, move it to SLexchange for free, sell it there and make $2 profit. Take your $2002 transfer $2001 to PayPay then transfer $2000 to your bank account. Your total cost of transferring $2002 is $2 for a commision of .0999% or about .1%.

Right now though the daily volume on SLexchange is only about L$300,000 so the total market is less that $1000 per day which is hurting the strategy of the traders who are trying that so don't expect to be able to move lots of cash that way until the volume picks up.

again - you can't do buy limit orders with you CC.

yes, you can buy at the market price, but you could always do that.

2006-05-22 14:56:43 Added credit to balance ($25.00) ($226.23) This was done by credit card by accident when I was trying to transfer money into LL from PayPal and the credit card was still the payment method.

All you do is go to My Account and Increase Credit. If you have a CC used to pay your bills you can use it to transfer cash into your LL account.