Best forex company to transfer 100k to Euros

davethetaller

I am looking within the next couple of weeks or so,to complete on a Spanish

property.I realise that the rate is poor at this time, but I cannot alter that!

I spoke to Hargreaves Lansdown, who said that to convert from £100,000 to

Euros, would cost me 0.65% off the commercial rate. I put the same question

to HIFX, who had a really wonderful explanation, as to why it was not

possible, to link a percentage cut to that rate. I asked both firms within a

period of 5 minutes, how many Euros would land on the desk at the other end

after receiving fees,or any other fees had been applied, and they were much

the same.In a true money saving style, all I want to do is compare eggs with

eggs ! I believe that both companies are big players,but if anyone has any

recent good information (or otherwise),or indeed to recommend another

company, then I am sure that I can run to a jug of sangria for you!

sloth

have a look at halo financial

http://www.halofinancial.com/

davethetaller

sloth wrote: »

have a look at halo financial

http://www.halofinancial.com/

Many thanks sloth,...not heard of them before.

Anyone else with any feedback, good or bad,would be welcome. Thanks.

macgyver

I recently used http://www.currenciesdirect.com/uk/ with very good service with no service charges and best rates on that day and time.
Moneycorp.com are also good with very good recommendations , although they charge a one off fee of £15
Axiafx.com is another company which offers very good rates with no fees and with good recommendations

davethetaller

macgyver wrote: »

I recently used http://www.currenciesdirect.com/uk/ with very good service with no service charges and best rates on that day and time.
Moneycorp.com are also good with very good recommendations , although they charge a one off fee of £15
Axiafx.com is another company which offers very good rates with no fees and with good recommendations

Many thanks macgyver, I will give all of them a try.

Due to the forex firms not being as tightly regulated (as I understand it),as

the british banks are,(even though the banks are only liable for the first

£35,000 ), I am trying to do all of the homework, before I entrust a bunch of

strangers with my dosh. So last call for anyone who wishes to contribute

something along the lines of "watch out for",or, "do not forget to", from

someone who starts with the small print and works forward!

dwsjarcmcd

I have used HIFX for 2 years and always received a very good service and rates. Actually I am sure that I read in the Sunday Times a few months ago that they were the cheapest in the market.

David

caliston

It depends. They all have access to different sources of funds which vary from time to time. It also depends on what sort of buy option you want (spot, forward, limit). The only thing to do is open accounts at a few and ring them all for quotes one after the other (within a few mins). Ask what the interbank rate is as well so that'll give you an idea what sort of margin is involved (even if they don't tell you it directly)

As there's no regulation out there any muppet can set themselves up as a FX bureau (the only rules are the Money Laundering ones which is about getting passport copies etc from the customer, nothing to do with safe custody of the money). So be wary, read the small print carefully (there are some nasties in the small print I've seen) and I'd be tempted to only go with well-known names.