Spot FX broker for delivery

Discussion in 'Forex Brokers' started by thegazelle, May 22, 2010.

  1. I need to exchange USD/CAD on a fairly regular basis for actual currency delivery . We normally do our thing through RBC, but their rates are usually 4-5 pips outside what I see with other brokers (the other brokers won't let you take delivery of the FX though). The order sizes are pretty small, a few hundred thousand up to a million.

    I tried Oanda, because they offer this service, however their quotes are not the same as they offer on the platform, because they give you 1 minute to confirm the decision. Any recommendations on a firm that can do this with better fills than what I'm receiving now?
  2. There are obviously a price to pay for delivery!
  3. Retief


    I use IB for exchanging currency. I deposit JPY to my IB account through Citibank in Japan and exchange it for USD. Delivery is taken by withdrawals from IB in USD to a US bank account.
  4. Smart.
  5. IB did cross my mind,but the lack of support is the only thing putting me off. How quickly do they process incoming/outgoing wires. Right now I can wire money to RBC, exchange it, and wire it out all in the same business day (assuming I start early in the day). Any idea?

  6. Wires before 10am are typically received by my bank by 1pm the same day.