Currency Brokers

[GSF]

Hi,
1st time posting after reading & lurking for a long time.

I've read that currency brokers offer better rates for translating larger sums. I may need to translate a reasonably large balance from EUR to GBP in the next few months. I'm nervous though about using a broker as I am unsure how secure they are. Is there any risk from using currency brokers and are the bonded?

 

[fto]

brokers are secure as long as they are resgistered with their relevent authorities i.e fsa and custom and excise in the UK.

You should ensure that the fx broker has client segregated accounts

also your lurking sound ominous lol

there are many currency brokers in ireland and in uk such as omnisfx and world first that are worth checking out, you can compair them off against each other to obtain the best rate.

also there is more infomation on how the process workings check out www.currencyexchange-advice.com

 

[Brendan Burgess]

brokers are secure as long as they are resgistered with their relevent authorities i.e fsa and custom and excise in the UK.

I have no idea what you mean by the word "secure".

13,000 customers have lost money today when Administrators were appointed to Crown Currency



They may well be regulated, but, as far as I know, they are not guaranteed in either Ireland or the UK.