Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Best Way to Trade Currency

  • 08-03-2019 12:04pm
    #1
    Saint Sonner
    Registered Users Posts: 989 ✭✭✭


    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?


Comments

  • #2
    phantom_lord
    Registered Users Posts: 10,894 ✭✭✭✭phantom_lord


    Best Way to Trade Currency
    Don't.


  • #3
    someday2010
    Registered Users Posts: 187 ✭✭someday2010


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


  • #4
    Saint Sonner
    Registered Users Posts: 989 ✭✭✭Saint Sonner


    So No serious answers?

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


  • #5
    phantom_lord
    Registered Users Posts: 10,894 ✭✭✭✭phantom_lord


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

    Interactive Brokers is an option though.


  • #6
    Saint Sonner
    Registered Users Posts: 989 ✭✭✭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?


  • Advertisement
  • #7
    elgriff
    Registered Users Posts: 461 ✭✭elgriff


    Revolut


  • #8
    Naos
    Registered Users Posts: 4,728 ✭✭✭Naos


    Saint Sonner wrote: »
    When did I say it was beatable?

    When you said you wanted to make a profit?


  • #9
    Wheety
    Registered Users Posts: 5,510 ✭✭✭Wheety


    Saint Sonner wrote: »
    When did I say it was beatable?

    That's what making a profit means.


  • #10
    Saint Sonner
    Registered Users Posts: 989 ✭✭✭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


  • #11
    MuttonChop
    Registered Users Posts: 9 ✭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.


  • Advertisement
  • #12
    Ult1mat3X
    Registered Users Posts: 17 ✭Ult1mat3X


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


Advertisement