Really dumb question I know - especially in light of my background but: Is 0.2% directly or roughly equivalent to 20 pips? e.g. if a broker is quoting me 0.2% away from interbank rate is that comparable with a 20 pips away from interbank quote?. TIA
Needs to be done realtime in the window before I get quoted "your risk" for taking too long. Will set up a RT excel spreadsheet for this and yes it will include a percentage calculation which I should be able to program, but right now I am asking the question above and don't really think your question for answer is valid. Appreciate it if someone who actually knows could answer - probably will turn out not to be one of the many ET'ers who trade FX from the beach for a living using their smartphone
EUR/USD px is 1.3215, 0.2% of that is 0.0026 so its 26 pips in this case. Its not exactly rocket-science..
Yeah, but I can afford to pay people to come and fetch me inside when it starts raining.* *English saying: "So stupid has to be told to come in out of the rain"
What is this for? 26 pips transaction cost is nasty in the liquid paris. Surely your broker can do better?
Funds transfer across borders/currencies not trading. Banks rip for 3% per side so 0.2% aint bad in comparison. If you are a corporatev treasurer you can negotiate play them off - I am not that size.
You could use IB or Oanda for major ccys, if you don't transfer to 3rd parties. Oanda had a really competitive physical delivery service, with which you could transfer to 3rd parties too. They charged a $25 flat fee per transaction, and the FX rates were tight(1 to 2 pips in the majors). But they had to stop it due to changes in regulation. These bank rates are such a rip off.