Yogi-Bear

Hi, Elizabeth,

I'm in the same boat and would ask the same question. I've quite a sizeable fund to exchange and I'm looking for the best deal as even one Canadian cent could make thousands of dollars difference.

After reading the posts on here, I see no one has mentioned "Halo" I've just opened an account with them and wondering whether if they're any good as they've not been mentioned??

Anyone had any experience with these people? If so, what did you think?

Cheers

Y

tim01

I have never used them, but have spoken to them before and they wouldn't tell me the set spread that they take so i didnt go any further.

bagspacked

Theyre only as good as the next guy, call halo and call transfermate and see what you think

Alan2005

Ask for both sides of the price and work it out

Aviator

We use Custom House for a bulk of our FX transactions. Once you give them a direct debit mandate, you can book the rate over the phone and they take the funds from your account. Alternatively you can book the rate and then transfer funds to them by online banking. Does not matter much who you deal with the rate between Fx houses is not going to vary that much. The exchange can change though in seconds. We set a rate we're looking for and give them an order to buy at that rate. The buy order is usually for a month, if it is not filled and lapses we do another, unless we need the funds urgently.

elizabeth_action

Well thanks all. Very much food for thought...

tim01

I wouldnt agree with that to be honest about getting the same prices, i found that by switching broer i was about 1 cent better off in the rate i am getting now compared to what i used to get, which is a fair bit, especially if you are trading a large amount

Yogi-Bear

Hi Tim,

Who are you trading with now? As one cent woulod make a large difference to my exchange capitol.

I've opened an account with Halo. But to be honest, I've not seen them mentioned are here so I'm wondering if they're any good?

Cheers.

Yogi

hitchw

don't know about Halo, I use RationalFx and they always beat the other brokers. I now dont even play them off against anyone, I just call them and tell them what i need and know my broker will give me the same spread on each and every deal.

Yogi-Bear

Hi,

Sounds great! Would you happen to have a contact details?

Cheers

Yogi

paolosmythe

QFT. Rash gets my custom!

tim01

Yogi

I use cornhill FX, the setup i have seems quite similiar as the setup that hitch has with rational, i know what spread i get each time, where i stand and don't need to haggle, funds usually get there in Canada same day as well. If you want my brokers contact details feel free to PM me.

Tim

Aviator

We use three brokers and the rate varies no more than a few pips, depending on what currency we're using. I guess it depends on how good your first broker was. A penny is a huge difference which I have only experienced between the banks and an FX broker. Some borkers charge a fee others build it into the rate they give you, so some fluctuation comes from this as well. Don't be fooled, they are all in it for the money and they don't work for free.

paolosmythe

A penny can be significant for the likes of the consumer, and indeed borkers (i quite like that term) can exchange your money lumped with that from many other consumers, so that a fraction of a penny makes a huge difference to them!

there lies their profit, not that such a slight 'spread' would make much difference to minor outlays such as those made by you or i. hence the seemingly unlikely but nevertheless true conclusion that everybody's happy!

tim01

I agree they dont work for nothing, they still give me a worse rate than they buy at. i dont object to them making money, id just rather they make less ans i keep more! I also like to know up front the soread they take rather than them just give a price. Now that i have a relationship with a broker i trust (I do check prices) i dont need to waste time calling a few, especially when the market moves. I have been quoted 1% on a six figure some by some brokers before, which is about 2 cents spread

At the end of the day they wont quote you a price that means that they arent making money!