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PokerStars forex spread
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aroominyork
Posts: 3,327 Forumite
I play poker on PokerStars. Sometimes I win and withdraw funds, sometimes I lose and top up my account. Games are played in USD so my Sterling is converted into USD when I deposit or is converted from USD to Sterling when I withdraw. I worked out yesterday's forex rates and saw they convert USD to GBP at 1.25 but from GBP to USD at 1.18. That means a 5-6% spread is being levied. Is this a cost to PokerStars which they are passing on to us, or are they sneakily taking an extra profit?
Edit: this is being discussed at this thread on the Savings & Investments board.
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Comments
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Good afternoon, it seems to me that this is a standard conversion fee. Which of course takes away site, in this case PokerStars-1
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