Anybody any experience in making money from converting currencies over at different times of the year?

I have been considering to invest in foreign money. I have been keeping an eye on the fluctuating cost of the 拢 to various foreign capital over the course of a few year and I believe it is quite easy to predict when to convert 拢 over to foreign money and then back again for a profit over the course of a few month.

Does anybody have any experience of doing this and if so... is it legal... do I have to pay any costs i.e. tax on my profit... or a conversion cost?

Thanks

Yes, it is legal. There are many websites that offer these services, go search on google. And, yes you will probably have to pay a trade cost if you do it online.

This is known as Forex. Do a search on it and you will see there is even websites and software tools you can use which will help you buy and sell forign exchange. Perfectlt legal and you can make lots of money doing it.

Depends which country you stay for tax etc...
However, money exchange business is fairly legal if you obtain business Registration Certificate. If small money than you can do thru' banks and dont need to go professional.

There are many websites and programs which can help you in this -- it is commonly called Forex, which is short for foreign exchange. It is perfectly legal, and if you are sufficiently astute and adept, it is possible to make money doing it -- perhaps even a lot of money. It is, incidentally, also possible to lose money doing this, and my one acquaintance who has been seriously working at Forex has been losing about 2000 pounds per month for some time. Fortunately, he earns enough that he can afford to lose it, and unfortunately, he is enough of an optimist that he believes he will make someday money at it. I'm not trying to discourage you nor to tell you you won't make money doing it -- I only suggest that you not take any risks with money you can't afford or aren't willing to lose.

First of all you pay commision on both sides of the transactions, at a bank maybe !.2%; then what amount of money are you talking about? Have you instant access to the Market? if have a lot of money, have good advice and instant access to the market.