'Online companies analyse foreign exchange trading figures'

Investors may benefit more from foreign exchange trading figures if they use online companies to convert their cash, according to industry experts.

Writing in the Telegraph, finance commentator Nick Collins recently highlighted the advantages of making money transfers over the internet rather than in high street banks.

Mr Collins pointed out that companies operating online currency conversions may be better able to predict fluctuations in the foreign exchange market.

He added: "Some currency dealers offer customers a personal broker to advise them and monitor the markets on their behalf.

"Many also offer attractive services such as same-day transactions and forward contracts."

In addition, some online firms buy their currencies in bulk at more affordable rates, so these savings can be passed on to customers.

In other news, a Thomas Cook study recently showed that 28 per cent of Brits arrive in foreign destinations without having researched the currency rates of their overseas locations.

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By John Mills