New answers tagged foreign-exchange
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So you both did sometime wrong here. You first gave the wrong payment details and then you did not contact them when you received the credit on card A, from which you where never charged. They send you a credit for card A despite never really charging you on it in the first place.
One question is, what would have happened, had they already charged you on ...
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I'm about about simply buying and selling currencies using online brokers. I'm not asking about futures or spread betting.
Note that you don't refer to a company that buys and sells currencies as a "broker".
They're not brokering anything. They just buy and sell things - exactly like a used car yard.
Both lose when their clients win.
That's ...
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Both lose when their clients win.
Not true at all.
I used a retail forex broker for several years to hedge currency risk that I had from cryptocurrency trading on multiple fiat markets. What I was doing was effectively arbitrage. If I had a loss on a retail forex trade, it would only be because I had a larger gain on a cryptocurrency trade elsewhere.
I've ...
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It depends on the country you are in. In the United States, you are quite correct. They often carry a commission too. And, like a regular bookie, they "lay off bets." They also offer leverage.
In other countries, where they are heavily regulated in terms of things such as price quotations, they are more like commodity broker-dealers. Of course,...
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Both lose when their clients win.
Both win when their clients lose.
Both profit from a spread (the vigorish for the bookmaker, and the bid-ask spread for the forex broker).
In response to edits
It sounds like you're asking how companies make money converting say US Dollars to Canadian dollars. It's simple, they charge commission.
If you want to buy ...
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