Let’s pretend I am Danish and I am going to New York. Before i go i watch the exchange rate of the Dollar vs. the Danish Crown. For a two weeks in a row the dollar is getting cheaper and cheaper. But suddenly the graph starts to revert and the dollar is getting more expensive. Then i would exchange before i go to New York because a long period of time with a cheap dollar most likely mean it will start getting more expensive. In this way i fix my “price” and hopefully save some money.
Again this is all speculative and personal preference.
It would be good, I think, if the Revolut user documentation made it clear which parts of the product are there to support the core use case of paying for things, and which are there for the purposes of currency speculation.
I suspect that most customers come to Revolut primarily to be able to pay for things, rather than to be able to gamble on currency trading.
From the T&Cs, general terms of service, 19.1. It is not permitted to: Z. use the Revolut Services to trade FX for speculative purposes or for FX arbitrage;
Why have you added the “in their base currency” clause?
It seems likely that most people using Revolut have come to it to make payments in other currencies.
Exchanging money for personal use is not considered currency speculation., It’s like one would have done in the old days by buying foreign currency for a vacation at a local bank branch. Trading within the app to gain income on Revolut’s platform, on the other hand, is something that’s not permitted.
Yes, but Henrik is talking specifically about speculative use of this facility.
this is all speculative and personal preference.
I thought I had got my mental model to the point that it included no mainstream, core use for this facility of moving money between currency ledgers other than the need to.movenit just before the weekend to avoid the one-way mark up. If my model is wrong, it would be good to know.
I don’t think so. He says it is always an uncertain and, literally, speculative opportunity to exchange at a specific day when one speculates about a given rate as being favorable. It is not about facilitating the platform as a means of income. It’s like the question when to go to the exchange office. Should I exchange now? Or tomorrow? When will I get more for my money? Speculation!