I have $2,500 Australian dollars to change to American dollars (I have more, but will wait for a later date to exchange). My local bank said the rate they would give me is 0.75 cents USD for $1 AUD. They said they use FX teller. Online the rates show .80 cents USD for $1 AUD. How do I get the best rate? I saw an online site for currency trading called :
http://www.forexmicrolot.com/mission-statement.jsp
Should I try a currency trader site? Can you trade and remove your funds to a bank account easily? Do they give a better rate than a bank? I think to open an account was $25.00 which is fine because I’d be saving enough to make it worth that much.
Please help if you have exchange large quantities of money in the past.
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July 31st, 2009 at 7:34 am
Best bet is to use a specialist currency brokerage. There’s lots to choose from, and they should get you a rate around 1% under the interbank rate you see published on currency converters.