Re: Money Transfer
 

Exactly. If a currency broker does not charge a fee, then their rate is bound to be less favourable. Otherwise, how could they make money?

I have to say the HIFX website doesn't exactly fill me with confidence when I looked at it today - the comparison figures for exchange rates haven't been updated since July! Not what I would call transparent.

Re: Money Transfer
 

Hi

I used Currencies direct today and got 1.17 euros per pound

Davexf

Re: Money Transfer
 

Just for comparison CF stands at 1.1793 right now.

Re: Money Transfer
 

Another vote for Currencyfair. I swapped £2,0000 at 1.18 on Friday lunchtime ( sent it by Faster Payments) and was available to deal an hour and a half later. The market rate at the time was 1.1810. I could have swapped straight away at around 1.1770, but I decided I wanted 1.18. Placed an order, and it was matched an hour later, when the States opened. Transferred out for €3, and in my account Monday lunchtime.

i have been using them for 2 years, never got less than 50 basis points under the market, and sometimes higher, for £1-2,000. I usually trade once a month, as my free banking with Barclays requires a regular credit to the account.

Highly recommended.

Re: Money Transfer
 

Hi guys,

To do comparisons you need to let everyone know the amount you exchanged and roughly what time, as I mentioned before your rate will always depend on the amount your transferring so to compare we need to see what that is.

Thanks :)

Re: Money Transfer
 

ah no, its not like betfair is it, ill be addicted of you can buy and sell money :(

Re: Money Transfer
 

Except on Currencyfair.

Re: Money Transfer
 

You can. Theoretically, you could put £100k in your account, and trade the market. So sell in the morning, buy an hour later etc. you only pay the €3 or £3 transfer charge when you send the money to your account.

When I traded fx years and years ago, we made loads of money just trading on 5 pips. 0n a £100k, 5 pips is about £40. 5 days a week, thats a return if over 10%.

Re: Money Transfer
 

Not to be sniffed at, very interesting.

Re: Money Transfer
 

I didn't put an amount because the rate is the same for normal domestic transfer amounts.

Re: Money Transfer
 

I've used CF for a few years now. Haven't found anything better.