US Dollar

[WSOPaduki]

I'm surprised 77dave hasn't figured out a way of making a little bit of cash exchanging $ somehow. He should be a one stop exchange shop.

Come on Dave get on the ball.

[mondatoo]

Ive just ordered £4k's worth of dollars with flybe to be deliverd mid may at 1.435 which is decent

[The Camel]

Has anyone used Crowncurrency exchange,offering a good rate if you buy now collect June been searching for horror stories but they look legit.Just worried that if they go busto i will lose the lot.
  any opinions?

I maybe an idiot.

But for the life of me I can't work out how crown currency make their money.

Can anyone explain?

[Karabiner]

Has anyone used Crowncurrency exchange,offering a good rate if you buy now collect June been searching for horror stories but they look legit.Just worried that if they go busto i will lose the lot.
  any opinions?

I maybe an idiot.

But for the life of me I can't work out how crown currency make their money.

Can anyone explain?

It appears that they are simply taking a view on the future rate, strange business model I agree.

[The Camel]

Has anyone used Crowncurrency exchange,offering a good rate if you buy now collect June been searching for horror stories but they look legit.Just worried that if they go busto i will lose the lot.
  any opinions?

I maybe an idiot.

But for the life of me I can't work out how crown currency make their money.

Can anyone explain?

It appears that they are simply taking a view on the future rate, strange business model I agree.

Someone makes an order for £1000 at 1.40. They buy the dollars if/when the rate reaches 1.45. If it doesn't reach that price they swallow the loss.

If that is the way they are planning on making the money.. I wouldn't be giving them any business.

Let's say the dollar rises another 20% in the next 3 months. They could do their absolute bollocks.

I wouldn't trust them them with my money in order to get an extra 5% of dollars.

Much more chance of them going bust than 5% imo.

[byronkincaid]

http://www.thehindubusinessline.com/mentor/2008/05/05/stories/2008050550361300.htm

[The Camel]

http://www.thehindubusinessline.com/mentor/2008/05/05/stories/2008050550361300.htm

tl;dr (and didn't understand either, even though I have an a level in economics!)

cliff notes plz.

[byronkincaid]

just seems more likely to me that this company would use derivatives to lock in future rates, add on a profit margin and sell to the general public with no access to them rather than putting their finger in the wind and having a guess.

[phatbhoy]

my guess would be they buy on the futures market, so they buy the rate at say 1.52 for mid may sell it at 1.5 and make plus your interest for the 2-3 months. Pretty risk free simple way to trade, if the dollar goes up they make more if the dollar goes down they have already prebooked it on the market. I am guessing though?

[gatso]

Here's a thought, if you've got a neteller account.

Deposit now onto pokerstars. Todays rate is £1 = $1.43 then when you're near departure date, transfer to Neteller (I think they transfer at whatever the rate is with no commision) then withdraw english £ from Neteller and transfer to $ using bank of some sort.

That way if the rate goes down from now until the time you go, you'll already have compensated for the difference. Basically locking in todays rate. Obviously the down side is if the rate goes up.

That theory sounds good in my head.

Any thoughts

is that just a really complicated way of saying just buy $s now?

[doubleup]

my guess would be they buy on the futures market, so they buy the rate at say 1.52 for mid may sell it at 1.5 and make plus your interest for the 2-3 months. Pretty risk free simple way to trade, if the dollar goes up they make more if the dollar goes down they have already prebooked it on the market. I am guessing though?

1) your interest for 3 months will be how much exactly?  (clue the number will be the roundest of all the numbers)

2) An option to buy or sell at a price costs something - where does that money come from?

However I did notice this attractive referral programme on their site:

Get a FREE carton of Cornish Clotted Cream for each friend that places an order


 

[Karabiner]

my guess would be they buy on the futures market, so they buy the rate at say 1.52 for mid may sell it at 1.5 and make plus your interest for the 2-3 months. Pretty risk free simple way to trade, if the dollar goes up they make more if the dollar goes down they have already prebooked it on the market. I am guessing though?

1) your interest for 3 months will be how much exactly?  (clue the number will be the roundest of all the numbers)

2) An option to buy or sell at a price costs something - where does that money come from?

However I did notice this attractive referral programme on their site:

Get a FREE carton of Cornish Clotted Cream for each friend that places an order


 

LOL 

[doubleup]

http://www.bbc.co.uk/news/business-11466272

[GazWalker]

http://www.bbc.co.uk/news/business-11466272

Not good news

[The Camel]

Has anyone used Crowncurrency exchange,offering a good rate if you buy now collect June been searching for horror stories but they look legit.Just worried that if they go busto i will lose the lot.
  any opinions?

I maybe an idiot.

But for the life of me I can't work out how crown currency make their money.

Can anyone explain?

It appears that they are simply taking a view on the future rate, strange business model I agree.

Someone makes an order for £1000 at 1.40. They buy the dollars if/when the rate reaches 1.45. If it doesn't reach that price they swallow the loss.

If that is the way they are planning on making the money.. I wouldn't be giving them any business.

Let's say the dollar rises another 20% in the next 3 months. They could do their absolute bollocks.

I wouldn't trust them them with my money in order to get an extra 5% of dollars.

Much more chance of them going bust than 5% imo.

wiiiiiiiiiiiiiiiiiii an ante post tip comes in.