Fx rates


#1

Hello how does one get the best fx rates please. I trust it must be during the market working hours. Is this true?


#2

yes. during the weekend there is a pretty high markup


#3

Please read this:


#4

that article is pretty outdated as it talks of 0.5% on weekends but for gbp/eur it’s over 2.5% now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


#5

Oh, really? Revolut need to make that clear. The info they publish is the info on which I base decisions.


#6

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


#7

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:


#8

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?


#9

my fault I was confused by that other thread. Right now it’s 0.5% on GBPEUR


#10

What are the fx trading hours? Should I only make transactons when they are trading for best rates?:grinning:


#11

to play safe, 9-5 monday to friday London time. be careful with “bank holidays”


#12

It was my understanding that the markup applied only from 23:59 London time Friday to 00:01 London time Monday. Is that incorrect?


#13

sounds plausible, I’ll test that tomorrow :slight_smile:


#14

Awaiting your results…:slight_smile:


#15

The markup only applies at weekends


#16

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.


#17

Did you read the help topic that redi posted above - it’s very clearly weekend only :+1:


#18

How about UK Bank Holidays?


#19

Ok Thanks everyone. Got it :blush:


#20

I just saw this link on another thread. short answer, you are correct. 24h a day, 5 days a week.

https://www.luckscout.com/what-are-the-weekend-gaps-in-forex-market/