I was also pissed when i have realized what robbers they are.They sell you high and by from you low..That is how they make money.
10 years ago we had people at local bazaar which were acting as illegal exchangers.Just think what spreads they had!:cheesy:
One of things that i love about IB is they IDEAL platform where you can exchange your funds for negligible fee compared to those paid in banks or any other exchange.So if i am taking a trip,i can exchange $$ to currency which i need than withdraw that to my bank account and i am ready to go!
Cheers,
VTK
Back when I was a newbie forex analyst my grandmother took a trip to France. When she told me the rate they gave her on the Franc (yes, we"re talking that long ago), I almost fell over. It was 5% off the market rate.