Best Way to Trade Currency

Saint Sonner

I have some € savings and have been thinking about buying STG£ in the next few days to see if i can make some profit on what will happen on brexit. I have an Ulster Bank account in STG (NI) and EUR (ROI). I'm assuming that to transfer in this manner and then transfer back with the hope of making a profit it is not the most efficient way to do it.

I've heard that there may be better ways using other companies but worried I will pick a dodgy one. Can anyone advise what is best option?

phantom_lord

Best Way to Trade Currency

Don't.

someday2010

Setup a Travelex booth at the airport, you will make a fortune.

Saint Sonner

So No serious answers?

I thought this was a thing maybe I'm misguided. Lol

phantom_lord

It is, but it's the most efficient market in the world, it's not beatable.

Interactive Brokers is an option though.

Saint Sonner

phantom_lord wrote: »

It is, but it's the most efficient market in the world, it's not beatable.

Interactive Brokers is an option though.

When did I say it was beatable?

elgriff

Revolut

Naos

Saint Sonner wrote: »

When did I say it was beatable?

When you said you wanted to make a profit?

Wheety

Saint Sonner wrote: »

When did I say it was beatable?

That's what making a profit means.

Saint Sonner

Wheety wrote: »

That's what making a profit means.

See if I can make a profit. Like I see if I can pick the winner of the grand national.... Lol

MuttonChop

If you want to hold GBP in DeGiro you can swap to manually manage GBP instead of using the autofx. Their fees are €10.00 + 0.02% per transaction. If you're pretty confident you know which way the currency is going to go, and you have a bucket of cash to convert, then sure go for it! Transferwise or Transfermate may be reasonable options, but check their fees.

Ult1mat3X

imo best way is to find a professional broker and sign a contract with him