Forex - ukforex

Discussion in 'Finance, Property, Law' started by old_bloke, Jun 12, 2012.

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  1. Hello , Anybody used the company UKFOREX ?
    If so is it gen.

    Also does anybody have advice on the best forex trading company to use?

    Sterling to Euro.
     
  2. Tytus_Barnowl

    Tytus_Barnowl On ROPs

    As far as straightforward transfers go then Moneycorp | Currency Exchange, Foreign Exchange and Money Transfer give you a good deal, make sure you have the daily spot currency rate when you make the call. They obviously have charges but beat the banks hands down.
    Are you thinking of being a speculative Forex trader? Thats a different story altogether.
     
  3. My firm uses TORFX, never had any problems.
     
    • Like Like x 1
  4. Tytus_Barnowl

    Tytus_Barnowl On ROPs

    Nice referral, just been on to them they're doing a better rate than I'm getting. Mind you the GBPUSD sucks if I am depositing, I pulled my profits from the US 2 weeks ago when the USD hit 1.55.

    Trade plan:
    GBP/USD
    LONG
    Wait for price to drop into 1.4947-1.5085 Candle in Control Zone then consider buy signal as per position trade rules. Alarm is set.
     

    Attached Files:

  5. UKForex are genuine and one of the best FX providers around. I have used them several times in the past 2 years - great rates, no fees, excellent service (24 hour service) and my money was in NZ within 2 days.
     
  6. A trust able U.K based forex broker is World Wide Markets.
    They seem intent on having a piece of the retail pie , offer different umbrellas CFD,
    spreadbet, Spot FX, stacks of Markets, good FX coverage.
     
  7. I use fcexchange.co.uk for mine. Normally a couple of points above bank rates etc, but be aware that (as with all of them) you will have to open an account (free) due to money laundering regs.
    They normally charge me a tenner per transfer.
     
  8. What do you want to use them for? Are you moving money between your own bank accounts, paying a bill in Euros or planning to trade speculatively for income? Is this a one off or infrequent transaction, or are you moving money on a daily basis?

    Personally, I use Hargreaves Lansdowne to move money between my accounts ($ and Aus$ / GBP) on the relatively rare occasions I need to. Never used them for Euro, but for USD & AUD rates are competitive and the service quick. In the past, when I had a business that paid bills in Euros I tended to pay Euro bills direct from the bank by CHAPS because I need the speed it offers and am happy to wear the costs.

    If you need to move money frequently, the high street banks can offer you Euro accounts which operate alongside your Sterling account. You can move money between your accounts just like any bank account. I found HSBC were switched on to cross-national clients. Beware the costs and there may be minimum balance requirements. Probably only really worth looking at if you need to move money on a daily basis.

    I trade a range of FOREX and equities products speculatively for income. I use FXCM for EUR/GBP and Cable because their spreads are the lowest available for my account size. I also have an account with Axitrader because they let me have unlimited demo accounts on which to test automatic trading robots and I have an account with ETX because the offer a very wide range of markets.

    Tytus, I like your Long trade call on Cable; it's one I'm stalking. Meanwhile, I've been enjoying some great scalping opportunities to the short side. I'm out for now because the pound is being pulled around too much for me to get in.


    Hope this helps.

    BtB