How a currency broker can help with personal service

Currency brokers provide the best rates in the business and some are totally transparent with their pricing.

Transparent quotes are a fixed amount from the mid-market interbank rate. When you request a quote online or with your currency broker they show the mid-market price as well as your rate.

This is also shown on all your trade confirmations. They should not charge a commission or fee for onward payments – all our charges should be built into the FX rate.

But more importantly, currency brokers can provide advice and strategy that will reduce your foreign currency exposure protecting the value of your money. Including a variety of ways to convert money:

• Same day/spot – you can convert funds and have it sent out on the same day to either a single or multiple beneficiary
• Future date/forward – you can lock in today’s rate and convert funds to be used at a future date with only a small deposit. This is a common method of protecting future purchases from currency fluctuations
• e-wallet – you can convert funds 24 hours a day and leave them in your online account for when you need them.