Jump to content
House Price Crash Forum
CatNewHome

Currency Broker

Recommended Posts

Hi,

Hope you can help. Can you recommend a currency broker please?

Thank you!

Are you looking for someone to trade/speculate/hedge with, or are you looking to transfer money.

If the former, I have had good experience with IgIndex (which has the advantage of being considered gambling in the UK hence tax free.)

If you want to transfer money, from where to where? To/from Australia OzForex/UKForex (basically the same company) are good. I believe they do other currency pairs. The spreads are much better than bank rates, they seem effiicient and communication is good. Also very good at coping with first timers.

Edited by D'oh

Share this post


Link to post
Share on other sites

Are you looking for someone to trade/speculate/hedge with, or are you looking to transfer money.

If the former, I have had good experience with IgIndex (which has the advantage of being considered gambling in the UK hence tax free.)

If you want to transfer money, from where to where? To/from Australia OzForex/UKForex (basically the same company) are good. I believe they do other currency pairs. The spreads are much better than bank rates, they seem effiicient and communication is good. Also very good at coping with first timers.

Gd morning,

Looking to sell Euros against Pound.

Thank you for taking the time to respond.

Share this post


Link to post
Share on other sites

Gd morning,

Looking to sell Euros against Pound.

Thank you for taking the time to respond.

Looking to transfer money from France to UK.

Share this post


Link to post
Share on other sites

Try UKForex.com then. They can probably help. I've been happy with their service.

Can you please advice if a small amount holder like me in a Euro currency have any need to worry about the Eurozone and if the currency is safe to hold for the next couple of months?

Thanks

Share this post


Link to post
Share on other sites

Can you please advice if a small amount holder like me in a Euro currency have any need to worry about the Eurozone and if the currency is safe to hold for the next couple of months?

Thanks

Sorry, that is one you are going to have to decide yourself. Personally, I would be surprised if the euro disappeared into a puff of smoke over the next couple of months. Whether it will still be with us over the next couple of years is a different question.

The questions you need to answer for yourself are:

(1) Why are you holding euros or pounds

(2) Where do you intend to spend them

(3) What would happen if you moved the money to a currency other than the one in which you wish to spend it in, and rates moved badly against you.

Share this post


Link to post
Share on other sites

Hi CatNewHome,

Using a forex broker is certainly a good idea – you can pretty much guarantee you’re getting the best available rates, which will almost always be better than the banks, with a smaller transfer fee.

If you are using a forex broker, there is never a guarantee, however researching the company is always a good place to start. Look for key indicators, such as the number of years the company has being running, and how reputable they are. Some due diligence into the financial state of the company should put your mind at rest – look for indicators such as profits from previous years – this information is usually available on each company’s website. Alternatively, check with Equifax or Companies House – although this costs a small fee, it will help put your mind at rest.

The euro is still looking uncertain , although a week without further bad news from Europe has meant that the markets have been correspondingly subdued. To protect yourself against any sterling volatility, consult a foreign exchange broker about a forward contract, which fixes an exchange rate at which you buy or sell currency for delivery at a later date (up to two years later), protecting you against adverse currency movements and locking into a favourable exchange rate.

I hope that helps.

Best wishes,

David Kerns

Dealing Manager, Moneycorp, www.moneycorp.com

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 146 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.