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What I call currency brokers : TransferWise, WorldFirst, CurrencyFair and the likes
At InteractiveBrokers, you could deposit in EUR, convert to another currency balance (at a very competitive rate, above ut the Transferwise around the mid market interbank rate) without taking a speculative trade, say in USD, then withdraw these mint USD to your bank account.
Most retail FX specialised brokers don’t offer the possibility to switch of base currency, or forbid to withdraw in another currency than the initial deposit one.
Are you aware of other brokers that would work the same than IB ? Or even white labels of IB (IB has inactivity fees)
Can you help answer these questions from other members on NexusFi?
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals, U308 and Crypto.
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Are you sure? I tried to do this 2 years ago, wanted to change a sizable chunk of GBP to USD and was told that they would not except an incoming wire not denominated in USD. (I'm obviously a US client.).
