Savings tips to get the best exchange rates

Follow these tips and they could save you a fortune and get the best exchange rates safely at NO CHARGE.

Tip 1

If you have to make a currency transfer, DO NOT use a bank. The Bank will NOT give you the best exchange rates and will also make all kinds of expensive charges! Instead, use a good Currency Broker (FX) - they specialize in international currency transfers. They must provide a FREE currency exchange with the best exchange rates. Use a bank and you will literally throw money away.

Tip 2

Use an FX Broker that has agreements with the receiving banks, which will minimize any reception fee in the currency transfer. Receiving banks will often charge for receiving the currency transfer. In Spain, for example, they can charge up to 0.5% just to receive the money! Therefore, there are significant savings to be made here.

Tip 3

Use an FX Broker that does not charge any fees for currency transfers. Some brokers do, so CHECK! There is no point in getting the best exchange rates and then losing unnecessary fees.

Hopefully this information is useful to anyone in any country who wants the best money exchange rates.

Author's Bio: 

Currency trading involves trading in the currency market. This activity is commonly known as FOREX and it is also the largest and most productive financial exchange market in the world.