Hi,
forced new entrant to FX - I'm paid in USD and want to spend in GBP and manage the timing of my exchanges. High street banks will rip me off so I want to find the most cost effective way to exchange. I've already looked around some of the sites recommened for newbies but they all seem to target professional traders.
1. Are internet trading sites the best for me to use on this situation?
2. Will I be able to get my salary paid directly into a trading account?
3. Can I hold in multiple currencies?
4. Are you covered by national deposit insurance schemes if the company goes belly-up?
5. What site might be the best to use given I'll be making relatively low value trades, say $5-20k.
Any advice greatly appreciated
Jack
forced new entrant to FX - I'm paid in USD and want to spend in GBP and manage the timing of my exchanges. High street banks will rip me off so I want to find the most cost effective way to exchange. I've already looked around some of the sites recommened for newbies but they all seem to target professional traders.
1. Are internet trading sites the best for me to use on this situation?
2. Will I be able to get my salary paid directly into a trading account?
3. Can I hold in multiple currencies?
4. Are you covered by national deposit insurance schemes if the company goes belly-up?
5. What site might be the best to use given I'll be making relatively low value trades, say $5-20k.
Any advice greatly appreciated
Jack