Hello everyone!
Newbie alert!
I was introduced to forex for a very specific reason. I own 2 bank accounts. 1 is CAD and 1 USD. I regulary need to transfer found from USD account to the CAD account. Of course I always want the best rate! Since the amount of the transfers is sometimes higher than 10K a small increase of the exchange rate make a big increase in profit. I knew that my local banks were not the solution. I then tried the XE.com Trade service and was very disapointed to see that their exchange rate was much lower than those produced by their free conversion tool.
When their free service shows 1.2200 their trade service will show something like 1.2100 (-100 PIPS?).
Anyway I then discovered forex and I keed learning since this moment. I have a demo account with Global Forex Trading.
I know that forex is for trading and will eventualy trade but I wonder if I can open a live account for CONVERTING funds?
Can I open the account, deposit USD funds (±10K), enter the market at a specific rate, stop as soon as possible and run with the CAD money?
Thank you for your help!
Newbie alert!
I was introduced to forex for a very specific reason. I own 2 bank accounts. 1 is CAD and 1 USD. I regulary need to transfer found from USD account to the CAD account. Of course I always want the best rate! Since the amount of the transfers is sometimes higher than 10K a small increase of the exchange rate make a big increase in profit. I knew that my local banks were not the solution. I then tried the XE.com Trade service and was very disapointed to see that their exchange rate was much lower than those produced by their free conversion tool.
When their free service shows 1.2200 their trade service will show something like 1.2100 (-100 PIPS?).
Anyway I then discovered forex and I keed learning since this moment. I have a demo account with Global Forex Trading.
I know that forex is for trading and will eventualy trade but I wonder if I can open a live account for CONVERTING funds?
Can I open the account, deposit USD funds (±10K), enter the market at a specific rate, stop as soon as possible and run with the CAD money?
Thank you for your help!