FX - Market vs Offered?
Discussion
Mattt said:
Im going to be making semi regular FX transactions, between 5 to 10k GBP each time.
What should I expect to see rate wise from a broker vs market? At the moment market is 5.6 but broker offers 5.73. Is that good?
What market is that?What should I expect to see rate wise from a broker vs market? At the moment market is 5.6 but broker offers 5.73. Is that good?
50 pips on a major for a physical versus spot and assuming no tranfer costs.
It's going to be a dearer currency as it is a small one.
Do you want cash or electronic transfer to an account? The latter being much cheaper.
I would call a few physical FX brokers and simply ask for a two way price on riyals in the size you would be dealing but don't indicate which side you are on.
If you really want to be sure then call them all as a seller and get the two way price and note that down against spot at the time and ten a few days later call for the same but as a buyer and see if they shift the spread in their favour from spot.
I could quote you a 1 pup spread but if I know you are a buyer I could quote it 500 points away from spot, thus ripping you a new a
hole while you thought I was a top bloke.
Do you want cash or electronic transfer to an account? The latter being much cheaper.
I would call a few physical FX brokers and simply ask for a two way price on riyals in the size you would be dealing but don't indicate which side you are on.
If you really want to be sure then call them all as a seller and get the two way price and note that down against spot at the time and ten a few days later call for the same but as a buyer and see if they shift the spread in their favour from spot.
I could quote you a 1 pup spread but if I know you are a buyer I could quote it 500 points away from spot, thus ripping you a new a
hole while you thought I was a top bloke. Gassing Station | Finance | Top of Page | What's New | My Stuff