|UK, Cyprus, Australia||/5||$200||Read the review|
|Switzerland||/5||$1||Read the review|
|Cyprus||/5||$250||Read the review|
Even though in the European Union, the Czech Republic has not integrated the euro as its currency. Nevertheless, there are places in the country where products or service can be purchased in euro, however the exchange rate is very high. The Czech National Bank is the only entity allowed to issue Czech Koruna (CZK) banknotes and coins. The Czech haléř coins (subdivision of 1 koruna) have not been in use since 2008, yet pricing are still incorporated with haléřs.
More and more brokers are considering adapting the Czech Koruna as one of their base currencies. The Czech Republic has been known for its fast economic growth, surpassing the majority of its neighbouring countries. This is one of the many reasons why the CZK is slowly becoming a forex currency staple.
International bank transfers in Czech Republic are usually charged a fee of about 500 CZK. Bear in mind that nearly all Wire Transfers will be charged by incoming fees depending on the banks that are involved in the transaction. International bank payments usually take no longer than 5 business days. Note that the waiting time depends also on the broker and the bank that is doing the transaction.
Local transfers in CZK are far less expensive and in some cases do not carry any fees. Local payments are fast, sometimes instant, sometimes taking up to 1 business day, 2 tops.
Credit and Debit card transactions are usually instant, and if not, take up to a couple of minutes. Bear in mind that there can be transfer fees that amount to no more than 3-4% of the deposited or withdrawal amount.
Two of the most popular alternative payment methods used by brokers who support CZK are Neteller and Skrill.
Skrill usually charges 1.45% of the sum for sending money, however in certain occasions that sum can be nullified. All moneys receive via Skrill are free of charge. Neteller charges a 2.5% fee for depositing. These two payment gateways process transfers in a matter of seconds.