How good is this GBP/USD rate?

Apr 1, 2009
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#1
Hi,
I have just opened a trading account with TD Waterhouse and when placing orders for US stocks now, I am being quoted an indicative GBP/USD exchange rate of 1.41211. At the same time the spread quoted on XE.com is 1.43417-1.43473 and Digital Look is quoting 1.4357-1.4363. So the rate from TDW seems to be about 1.5% below the mid market rate and, I assume that the USD/GBP would likely also be about 1.5% below the mid market rate. I also don't know if the actual rate I would get would differ from the indicative rate, but I can't imagine that it would be better.

Given the above, does the rate offered by TD Waterhouse seem reasonable? If not, would I be better off converting to dollars elsewhere and funding a trading account with those dollars?

Any help would be greatly appreciated.

Best Regards,
Jeff
 

Magos

Active member
Feb 8, 2007
911
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London
#2
GBP/USD
TD 1.41211
Xe 1.43417 - 1.43473 (5.6 pips)
Digital Look 1.4357 - 1.4363 (6pips)

Digital Look 15.3 ticks different the bid and the 15.7off from XE

According to your example you could sell at Digital look and by from TD and make 241.9 ticks if TD is the offer.

I am sure you got the numbers wrong/ or the times.

The rate of TD doesnt not seem reasonable at all.

Come to think about it what are you trading SPOT (2 days delivery) or CFD's(rolling positions)

or

Spreadbetting ??(adjested winning by you)