Showing posts with label forex broker. Show all posts
Showing posts with label forex broker. Show all posts

Wednesday, October 28, 2015

How to Save even more Money on Foreign Exchange

In the last few years a numbers of foreign exchange brokers have been appearing undercutting banks and providing much cheaper exchange rates.

The difference in spread and fees is often huge resulting in significant savings for individuals that need to transfer money overseas or companies that often trade in multiple currencies.

The problem is however that those rates are very attractive on the first few transactions but have a tendency to creep up after a while. Most people will spend time initially to select a broker based on price but few will put in competition multiple brokers every time they need to do a transfer.

This is where a new start-up found an opportunity. Called, the company takes care of registering you with up to 8 brokers (yes the compliance process is done just once and passported over to the other brokers). Going forward when you need to do a forex transaction, the platform will put a bid on your behalf to all available brokers. You just have to pick-up the best price and off you go, with just a few clicks. Everytime.

This is a huge benefit as brokers have to stay honest if they want your business and it therefore guarantees the best possible price everytime without you having to be a specialist.