Recent reports suggests that there is a steep increase of the Romania’s GDP, mostly due to private consumption, and an increase of foreign investments. Some top-of -the-line brokers have included the Romanian Leu (RON) as part of their base currency catalogue, including Admiral Markets and Trading 212.
Local RON transfers are fast, at times instant, at times prolonged to a day. They are generally free of any fees. There might be some brokers that charge local RON bank transfers, but rest assured that the fees are quite low.
Credit and Debit cards are known for their instant transaction of money, and if not that fast, up to 10 minutes. The fees that arise from using Credit/Debit cards can range from no fee at all, to a 3% charge. This might not seem a lot, but a 3% off of a transaction in the thousands can be quite the significant load.
Of the brokers that offer the Romanian Leu, the most used alternative payment methods are PayPal, Skrill, and Neteller, all of which process payments on the go.
Note that although these fees are fixed, many brokers chose to charge, or not, additional fee when using these three payment methods.
Leu is translated, literally, to the word lion.
The Leu is partitioned into 100 bani.