Buying Dollars

[CRB14]

I'm planning on buying something from the U.S. later in the year so was considering trying to buy some dollars now as the rate seems ok.

Is it worth buying a few thousand now and if so what would be the best way to do it? I'd need access to the money electronically so I could wire it across which is the only down side.

Edited by CRB14 on Thursday 30th April 10:11

[CRB14]

I spoke with Caxton Fx and opened up an account. I can buy dollars now and keep it in my account until I'm ready.

[iambeowulf]

ICEPLC will give you the better rate if it happens to go up when you collect your dosh.

IIRC Ice and Caxton (both of which I have travel cards with) are more end user companies and don't seem to offer the best exchange rate. You may be better off going to a more commercially focused Forex trader, like ForexUK and the like. I've never used them so can't comment on their service but they seem to be the biggest.

The dollar is unlikely to widely fluctuate so for $2k I doubt it'll make much difference.

[CRB14]

It'll ultimately be around $9 or $10k but as I don't have that lump now I figured I'd start buying through the year in order to take the risk out of potential fluctuations.