New answers tagged currency
1
This can be any of the following schemes.
Ponzi scheme.
Any of the Forex trading scam schemes
A pump and dump sales scheme fund, that trick misinformed investor using regression toward the mean to harvest money from the gullible greedy investor. It doesn't matter what kind of funds is it, all tricks are similar.
Here is how the scheme works regression ...
2
Asset management is a category that the Financial Services Commission (FSC), which is the Mauritian government regulator for financial markets, lists as a licensed activity under code FS-1. Assets Management. Therefore, I would check whether the company purporting to manage funds hold any regulatory status there, as a first step in the due diligence process. ...
5
It turned out that the best way was to open a dollar account with a UK bank. I went with Lloyds, and now have a international USD account based on the Isle of Man, which is very cheap to run.
0
There are three ways the currency dealer could be making money providing the foreign exchange (forex) conversion:
1) Spread markups: the difference between the bid/ask price (i.e. the rate where you can buy and the rate you can sell), compared to the underlying spot rate (not the bank rate which is already marked-up from the real interbank spot price. In ...
3
how does he make money?
Such currency exchange kiosks usually either take a fee or provide a worse exchange rate than banks do. They later go to a regular bank and exchange their foreign currency into local currency at the usual exchange rate and keep the difference.
The exchange rates banks offer to tourists will often be worse than those they offer to ...
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