Conversion between RUB and EUR

Hello!

I have a question that I wonder about. I have 2 different mastercard like this:

MasterCard1: 10000 RUB (Currency RUB Mastercard)
MasterCard2: (Currency EUR Mastercard)

What I need to do is to transfer the 10000 RUB to MasterCard2. This means that a conversion to EURO will be made. I can do this but, with the cards exchange rates, I will loost about 3% or so.

My question now is how this would be possible to do with the actual forex market where the spread are much tighter. Initially I like to deposit 10000 RUB and trade RUB/EUR to receive EUR.
Next step would be to withdraw the EURO to Mastercard2.

Any idéas how this can be achieved?

Thank you!

The retail forex market cannot help you with the conversion you want to make.

In the retail forex market, currency conversions are bookkeeping entries only. Physical currency conversions do not occur.

If you deposit rubles into a trading account, everything in that account will be denominated in rubles – your profits, your losses, [I]and your withdrawals[/I] – regardless of the currency pairs you trade.

Specifically, if you deposit RUB, and go long EUR/RUB, you will not be buying EUR and selling RUB. Many authors, teachers, and websites (including the School of Pipsology on this website) will tell you that a long position involves buying the base currency and selling the quote currency, but they are totally wrong.

In retail forex trading, there is [I]no conversion[/I] of a base currency into a quote currency. And there is [I]no conversion[/I] of your account currency into any other currency. Regarding your particular circumstance, if you open an account in rubles, it will be [I]rubles in, and rubles out.[/I]

Furthermore, if you were to deposit rubles into a forex trading account (let’s say from card #1), and then withdraw your rubles, the withdrawn rubles would have to go back to where your deposit came from – that is, right back to card #1. So, it would be impossible to move money from card #1 to card #2 using a forex trading account. The reason for this restriction is: Government regulations aimed at stopping money laundering and tax evasion.

There are currency exchange services on the internet, and you should do some comparison shopping to find the best rates. But then, unfortunately, you will just have to accept the conversion rate offered, which will not be as attractive as the rate you see quoted on your forex trading platform.

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