Are you a dinosaur with foreign exchange dealing?

Are you a dinosaur when it comes to transferring money across international currencies?

Incredible as it seems, most of us still are trading currencies at our High Street banks, or maybe at the foreign exchange desks on at the airports or on the ferries. Even the slightly more sophisticated foreign exchanger is still ringing up the broker and hanging on the phone for a price.

Yet all this really makes no sense at all. There are a few brokers which now allow you to trade foreign currencies directly online from your own account wherever you have an internet connection.

What’s more, this can be on any computer, with your own log in details and it’s completely safe to do so. The best thing about this kind of trading, though, is that it’s more cost effective. Dealers like Hifx.co.uk can get far closer to the mid price for your buy and sell transactions than other foreign exchange dealers as they’ve invested heavily in the requisite technology to enable you to trade directly.

It’s quick and easy to join; you can get immediate quotations on a whole range of international currencies before you decide whether or not to deal and there are no currency transfer fees on amounts of £3,000 or above, whilst for smaller amounts there is a flat fee of only £9.

So to deal in any other way is almost certainly like throwing money away. And even if you think it’s only a relatively small amount – why bother when registering online and getting a real time quote is so quick and easy?

If you want to try and tell the difference between a dealer like Hifx and any other dealer, then it’s relatively easy. Simply try your usual foreign exchange dealer and get a quotation, then try HiFX to see what your real-time quote would be, and find out the difference for yourself.