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by Sam_D2327 on January 5th, 2011

Sam_D2327

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is there a way or a service that charges no fees for currency exchange

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  • by TheGrimReefer on January 6th, 2011

    TheGrimReefer

    It's never free... as in you can never exchange $100 USD for $xxx something else and then the next millisecond, change it back for $100 USD.

    There is an exchange rate set by the bid/ask price. So the exchange rate may be 1.00 to 2.00 But, at the time, there is also still a bid and ask price. The bid price is what someone else is willing to pay for your currency, and the ask is what someone else will sell their currency for. So exchange rate might be 1:2 but the bid and ask on that second currency is 1.98 and 2.02. In that case you effectively are paying 2% even if you are not paying a "fee".

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