datamile

Just wondering from those people who have several fx brokers like hifx, ozforez, moneycorp etc, what the difference was between rates was when you rang around with house sell type of cash (£100,000+)

Were the rates so close that it didn't matter, or could it actually be .5 cent between them ?

Is it worth the multi-accounts? We are currently only with moneycorp

ianandhelena

it's worth opening the accounts so that you can get a rate from each of them and go with the highest if you want to exchange that amount-usually they'll match each other's rate to get the business.

datamile

Anyone actually got some examples of the differences from calling around ?

Is it a material difference ? ie. on £100,000

2.5 vs 2.52 - $AUD 2000
2.5 vs 2.51 - $AUD 1000
2.5 vs 2.505 - $AUD 500
2.5 vs 2.501 - $AUD 100

walaj

per an article on this website done by someone who works at one of the fx companies, he stated that for above £50k the charge should be <0.5% and should reduce as the amount to exchange increases.

The same company last week on their website showed a difference of 1.1c to the market rate for amounts above £40k or 50k.