Nottinghill

Does anyone know a good exchange broker company in UK to do this?

I have been using HFIX till now but learned that the level of the cut they take and their tactix with private customers are pants!

Nottinghill

CitySimon

"pants"?

Try xe.com!

Jerseygirl

Try the search facility located in the pink bar at the top of the page. Go to advance search and type in XE Trade...search in the US/Trailer Park forums. There are loads of threads giving you information on this subject.

Ray

Or just click

www.xe.com

Nottinghill

Thanks for this.

I exchanged some money today at 1.92 when I could see from HIFX own web chart that it had been 1.95 at one point during Thursday. To me 3 C is excessive. 1C profit would be round what I had been used to before.
I had rang XE.com in Texas, where I am but they say that they are speculative exchange dealers, not for "ordinary" money movers.

I will try XE Trade as above.

lapin_windstar

1c margin on a USD/GBP currency trade is only 0.5%. You must be moving a huuuuuuuuuuuuuge amount of money to get that, surely?

Longy

When people mention XE on here they mean xe trade - it can be accessed via xe.com, but its not obvious, the link is http://www.xe.com/fx

I think you will find its similar with 3 cents - someone said UK Forex which advertises on this site is better so they may be worth a look.

Ray

Who on earth did you ring ..xe is a Canadian company

BritishGuy36

UKForex give you less than one cent under the prevailing market exchange rate if you are moving decent sums.

I just checked a spot rate and they gave me about 0.85 cents under. Pretty good.

From what I've read their rates are better than XE and they can set you up electronically for the most part - the only confirmation I had to undergo was typing a code into their website which they posted to me, to prove my address.

BritGuyTN

thats exactly my first thought!

lapin_windstar

Heavens to Betsy! That's amazing. What's a "decent sum", for example?

Dan725

Yes, I'm tempted to consider this UKForex. Thing about XE is that they seem to give you pretty much the same rate no matter how much you are transferring (I've not tried an astronomical transfer, and probably never will, so can't speak for that!).

I think that UKForex does tack on some low fees for certain amounts - can you say anything about fees (send/receive/handling), Britishguy36, and have you done an actual live transfer with them?

Longy

Yeah if I recall when looking at UKForex I read something saying you had to make a CHAPS transfer. this ended my interest as most of the time I was just transferring relatively small amounts - I may have read it wrong though. If thats the case the fee means that anything up to 2 grand would still be better/as good on XE - obviously depends on the rate the bank charges for a CHAPS transfer. It also makes it a lot more hassle if you have to call up and do this on the phone. The whole point of XE is it can all be done online.

BritishGuy36

I haven't done any transactions with them yet but will do in a couple of months.

You can transfer cash just using online banking (up to the limit your source bank will allow for this type of transaction, of course). You go to the UKForex website, log in, get a spot quote, if you want to proceed they give you the bank account details to send the cash to, you use your full name as a reference so they can tie it to you, then you choose a beneficiary (you have to have destination bank accounts set up in your account, but that's quite easy).

UKF do give you better rates the more you send. I think their best rate is if you are sending $25k or more.

We are with Barclays and you can only send up to £5k via online banking so to send the proceeds of our house sale we just need to go into the branch with ID and do it in person. But I don't mind doing that for a one-off transaction.

basementwaj

try travelex.co.uk