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Efficient currency exchange and overseas transfer

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Elite Member
London England
Trading Experience: Beginner
Platform: Sierra chart
Favorite Futures: Oil
Posts: 15 since Jul 2014
Thanks: 9 given, 2 received

Efficient currency exchange and overseas transfer

Hi all

I'm in the U.K. And I have an account with AMP futures in the U.S and I trade us markets so my account is in usd.

I'm just trying to figure out the best and most efficient way to convert the usd into gbp and recieve it here in the U.K.

AMP can convert my currency themselves but I'm sceptical about the exchange rate and believe a better rate can be achieved elsewhere.

One problem however is that AMP will only allow a withdrawal to an account in my name. I did have the idea of withdrawing to my moneycorp account and benefitting from there competitive rates. The problem is I would have to withdraw to moenycorps account and then they go on to debit my actual account with them so that's a no go.

My questions are
1. Is it really worth bending over backwards for other exchange rates, do you think AMPs is acceptable and I should just use them?

2. Do you know of any other way of withdrawing the money from my AMP and converting it at a more efficient rate?

Any comments and thoughts are more than welcome.

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