I think 0.3% is still too high. Currency exchanges would never be popular if they charged such exorbitant fees. Traders should be able to make a decent profit on a 1% daily deal. With these ridiculous fees either tradehill takes 60% of that 1% profit or traders take a loss of 3% due to fees.
I don't follow your math on the 3% loss due to fees.
Forex rates are a lot lower than .3% I agree with you on that.
A currency exchanger on the other hand charges a lot more.
I don't know where this image is from but I think we can agree it's pretty typical for a currency exchanger.
These rates are A LOT higher than ours. With this spread they're essentially charging 4% to 10%
No need to go over the math in detail, it's obvious the buy and sell prices are way off.
Over time our fees will drop. The Bitcoin economy is still really small compared to Forex.
Fees are charged in basis points but the markets are moving trillions