Real spot rate on interactive brokers

Member since 22 November 2023

mickeyhartContributor25 February 2024 14:52:27

179

Cant find any intel on anyone doing this on Interactive Brokers? But get this I snagged the real spot rate for GBP/EUR then as close as for EUR/BGN in my Revolut account.

I swap my GBP to EUR on Interactive Brokers and they give the actual spot rate. Never knew us regular Joes could do that?

Theres no withdrawal fee so I shift the EUR over to my Revolut account and since EUR/BGN is pegged it doesnt matter when it hits my Revolut and I swap to BGN. But I wound up with just a smidge under 2.30 for GBP/BGN by going GBP/EUR first in Interactive Brokers. The best I could see in Bulgaria was cash only 2.28 at Tavex.

Wish I had clocked this little gem when I was splashing out on builders and what not. Does anyone know if its allowed on Interactive Brokers just to swap like this? Im gagging to go big and change all my pounds at once. But don't fancy getting my account shut down. Anyone clued up on Interactive Brokers? Could do with a bit of intel before I dive in head first again.