August 15, 2007 7:31 PM Subscribe
Any opinions about foreign exchange brokers? How can one even tell who does only trades & who actually converts currency?
posted by jeffburdges to Work & Money (13 answers total) 2 users marked this as a favorite
I'm mostly interested in moving currency from dollars to euros, but trading is an option.
I was almost done with XEtrade's week long signup process, when they screwed me over by being unable to correct a type-o, restarting the whole bureaucratic nightmare. So I'm done with them.
But most curency brokers I've found only care about trades, they won't actually convert anything! For example, OANDA is primarily about trading but offers various toy features for "travelers" & such. Forex.com doesn't even pretend they'll convert currency.
Custom House, the muscle behind XEtrade, apparently has everything you'd want, but their site sucks, especially in Safari.
p.s. I never was sure who gives better deals : Custom House or XEtrade.