Hello how does one get the best fx rates please. I trust it must be during the market working hours. Is this true?
yes. during the weekend there is a pretty high markup
that article is pretty outdated as it talks of 0.5% on weekends but for gbp/eur it’s over 2.5% now
Update: I just calculated GBPEUR and it’s effectively 0.5
Oh, really? Revolut need to make that clear. The info they publish is the info on which I base decisions.
What about overseas withdrawalls during the week? I read somewhere that if one withdraws cash from atm out of fx day working hours they get slightly worse rates
for withdrawing cash there is a limit and a 2%? if you go beyond that limit
about general ranting about the exchange on weekends see:
Maybe I’m daft or something but doesn’t it say on terms and conditions that any transaction out of fx working hours will be at a slight poorer rate. I know already Saturday a Sundays. …but whate about weekdays when fx close?
my fault I was confused by that other thread. Right now it’s 0.5% on GBPEUR
What are the fx trading hours? Should I only make transactons when they are trading for best rates?
to play safe, 9-5 monday to friday London time. be careful with “bank holidays”
It was my understanding that the markup applied only from 23:59 London time Friday to 00:01 London time Monday. Is that incorrect?
sounds plausible, I’ll test that tomorrow
Awaiting your results…
The markup only applies at weekends
I’m gonna make sure it’s during fx operating hours just in case. That is 8 to 5pm Monday to Friday for UK users. Maybe I’m over stressing but it’s no big deal in reality😊
Thanks for all your advice.
Did you read the help topic that redi posted above - it’s very clearly weekend only
Ok Thanks everyone. Got it
I just saw this link on another thread. short answer, you are correct. 24h a day, 5 days a week.
so I was watching USDGBP and EURGBP just before and after midnight (UK) and at 00:00 the markup went from 0.5% (better than transferwise anyway) to 0% confirming the hypothesis of 24*5
what actually confuses me is, if the market is “frozen”… why does the exchange rate during the weekend here on evolut actually fluctuates, not a lot but it’s definitely moving.