Foreign exchange can have a significant impact on the cost of doing business internationally, yet many companies still treat currency management as an afterthought.
In this CEO interview, we speak with Kirpal Ubhoo, Indigo FX CEO, about how specialist currency brokers differ from banks and money transfer apps, the most common FX mistakes businesses make, and how tools such as forward contracts can help companies protect margins and manage international payments more effectively. We also discuss what it takes to operate a currency business in today’s highly regulated market and how businesses can take a more strategic approach to managing their foreign exchange exposure.
What does Indigo FX do?
Indigo FX is a foreign exchange and cross-border payments provider, delivering secure, technology-driven currency exchange and international payment solutions for businesses and individuals. Combining market expertise with innovative payment technology, Indigo FX enables clients to transact seamlessly across borders, optimise currency management and mitigate foreign exchange risk with confidence.
How does that differ from high street banks and money transfer apps?
Unlike high street banks and consumer money transfer apps, Indigo specialises exclusively in foreign exchange and cross-border payments. By combining dedicated market expertise with advanced payment technology, Indigo FX delivers competitive exchange rates, tailored currency solutions and personalised support for its clients. Whether facilitating global trade, overseas property purchases, or personal transfers, Indigo helps clients manage currency risk, reduce costs and move money internationally with confidence and efficiency.
What does a typical customer look like for you?
A typical Indigo FX client is either a business or an individual with international payment and foreign exchange requirements.
Our business clients commonly use our services to pay overseas suppliers, settle international invoices, manage cross-border payroll, or make regular international payments as part of their day-to-day operations. We also support private individuals who are purchasing property or other assets overseas, transferring salaries internationally, emigrating, or making one-off international payments.
Whether for commercial or personal purposes, our clients value secure, efficient, and cost-effective foreign exchange and cross-border payment solutions, supported by dedicated expertise and personalised service.
What are the main mistakes businesses make when it comes to FX?
One of the biggest mistakes businesses make is treating foreign exchange as an afterthought rather than a strategic part of their financial planning. Many companies simply accept the exchange rate offered by their bank without comparing alternatives, which can significantly increase the cost of international payments over time.
Another common mistake is failing to manage currency risk. Exchange rates can move quickly, and businesses without a clear FX strategy can see their margins eroded by market volatility. Tools such as forward contracts allow businesses to lock in exchange rates and create greater certainty around future cash flow.
Businesses also often leave payments until the last minute, reducing their options and increasing exposure to unfavourable market movements. Planning ahead and working with a specialist foreign exchange provider enables businesses to access more competitive rates, expert market insight and tailored solutions that help reduce costs and improve financial certainty.
What are the key services a currency broker offers? please keep this short and direct being corporate for indigo fx?
At Indigo FX, we help businesses make fast and secure international payments in over 140 currencies. We provide spot contracts for immediate foreign exchange, forward contracts to help protect against currency market volatility, and tailored risk management strategies designed to reduce FX exposure. Our treasury solutions help businesses optimise global cash flow, while every client benefits from dedicated support from an experienced currency specialist.
How does the process of actually dealing with a currency broker work?
Working with a currency broker is a straightforward process. It begins with understanding your business, your payment requirements, and your exposure to currency markets. Once your account is set up, your dedicated dealer monitors the markets, provides live exchange rates, and helps you make an informed decision on the most suitable solution. Whether that’s a spot contract for immediate payments or a forward contract to secure an exchange rate for a future transaction.
Once you’ve agreed to a trade, you simply send your funds, we convert the currency, and your payment is securely delivered to the beneficiary, often on the same day. Throughout the process, you’ll have direct access to an experienced specialist, ensuring every transaction is handled efficiently, transparently, and with the highest level of service.
Is it difficult these days to start a currency exchange business in the UK?
Starting a currency exchange business in the UK is significantly more challenging than it was a decade ago. The landscape has evolved considerably, with a much greater emphasis on regulation, robust compliance frameworks and stringent anti-money laundering requirements. Today, firms must obtain FCA authorisation, establish secure banking relationships and invest in sophisticated payment infrastructure, risk management systems. Not to mention, experienced personnel. While it’s certainly possible to enter the market, the barriers to entry are far higher than they once were.
A book recommendation that can help people understand FX or the markets?
I’d recommend The Little Book of Currency Trading by Kathy Lien. It’s an excellent introduction to the foreign exchange market, explaining what drives currency movements, how central bank decisions influence exchange rates, and the fundamentals of managing currency risk. Whether you’re new to FX or looking to deepen your understanding, it’s a practical and accessible place to start.
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
