currency brokers

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This topic contains 5 replies, has 3 voices, and was last updated by Profile photo of Anonymous Anonymous 11 years, 5 months ago.

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  • #51149
    Profile photo of Anonymous
    Anonymous
    Participant

    My wife and I are going on a Spanish inspection trip in a fortnight and I am frantically trying to do some research into broker exchange rates.

    The problem I am having is that you are required to sign up, send copies of passports, bills etc before they will tell you what their rates are! Is it just me or is there no simple way to compare rates without having to sign up to every broker under the sun.

    If I wanted to compare bank interest rates in the UK there are plenty of comparison sites to do this. Does anyone know of similar sites which will compare broker currency exchange rates?

    I am a total novice at this and maybe I am missing something obvious and if I am, I apologise in advance.

  • #58441
    Profile photo of Anonymous
    Anonymous
    Participant

    try http://www.currenciesdirect.com, i did a bit of research i found they were the best, they also give their current rate on the home page

    hope this helps

    matchey

  • #58449
    Profile photo of Anonymous
    Anonymous
    Participant

    Hiya, Can you check the website you’ve given as I jusy tried it and found it wasn’t recognised. Thanks Heather

  • #58455
    Profile photo of Anonymous
    Anonymous
    Participant

    Most fx brokers are pretty competitive and have very sinilar quotes

    Best way to find out their prices is to ask them what their prices are in comparison to the spot price. Most are between 2 and 3 c/p under spot price.

    You can get a live spot price quote here:

    http://www.advfn.com/p.php?pid=quote&cb=1120301458&symbol=FX%3AEURSS

    I have recently used a number of fx brokers and found HIFX to be the best altho currenciesdirect weren’t too far away either

    http://www.hifx.co.uk/

  • #58479
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi

    Most brokers are pretty much of a muchness. They dont really vary much in their rates and their service is usually pretty good. All of the ones mentioned on here are good and there are fa few more you may consider.

    It is unusual they want to have so much information before they sign you up as most will willingly give you their rates on the phone. The one I use is http://www.currencyuk.co.uk For the record they actually require so muchpaperwork by Law under the european tax directive to ensure that you are not money laundering, but this is only once you have agreed to set up an account.

    Also one of the advantages of using a currency broker – apart from the better rates – is that you can also get a guarantee of your rate for a period of up to 12 months – handy if you are waiting for a place to be finished off. In this case you will get a slightly worse rate but it may be worth it for the peace of mind against fluctuations.

    Good luck in your purchase

    Vince

  • #58480
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi

    Most brokers are pretty much of a muchness. They dont really vary much in their rates and their service is usually pretty good. All of the ones mentioned on here are good and there are fa few more you may consider.

    It is unusual they want to have so much information before they sign you up as most will willingly give you their rates on the phone. The one I use is http://www.currencyuk.co.uk For the record they actually require so muchpaperwork by Law under the european tax directive to ensure that you are not money laundering, but this is only once you have agreed to set up an account.

    Also one of the advantages of using a currency broker – apart from the better rates – is that you can also get a guarantee of your rate for a period of up to 12 months – handy if you are waiting for a place to be finished off. In this case you will get a slightly worse rate but it may be worth it for the peace of mind against fluctuations.

    Good luck in your purchase

    Vince

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