FOREIGN CURRENCY EXCHANGE – PRIVATE CLIENTS
Please find below a list of Foreign Exchange services for Private Clients. They are specialists in the foreign exchange market and will provide the very best exchange rates – whether buying an overseas property or making regular and one-off international payments. The foreign exchange rates offered are far superior to traditional banks. The companies listed buy and sell foreign currency at an average 1% margin from the interbank spot rate, whereas traditional banks charge a margin as high as 5% plus fees. Foreign exchange specialists offer great rates.
The exchange rates are obviously one of the most important aspects to consider when choosing the right broker. However, you should also look for the ‘Margin’ also known as ‘Spread’ (this is the percentage between the interbank spot rate and their listed rate). You should also check the foreign currencies they work with. Always check for what fees are involved and that you know exactly what you are paying for. A lot of companies will have a minimum requirement that is usually somewhere between Ј1000 and Ј5000. If you are looking to exchange an amount under this you should think about using a Money Transfer or Remittance Service.
Foreign exchange brokers can transfer funds internationally for customers. As currency exchange is the main focus for foreign exchange brokers they can get customers a rate that is as close to the interbank rate as possible. The closer you can get to the interbank the better and so you can get far better exchange rates and ultimately more for your money with a foreign exchange broker. With one of the services listed below you are not limited to banking hours. It is likely that you will be offered an online account so you can mage all your transactions and payments whenever you want. You can also book future transactions in advance to protect your finances and get the best rates.
The great thing about using a foreign exchange broker is that you will be assigned a dedicated broker who will personally work with you. They will be able to offer you their expertise of the currency market and offer you support and advice whenever you need it. Foreign Exchange Brokers offer a fully automated service that is easy to use and convenient. It is important that you take the time to find the foreign exchange broker that best suits you and your exchange needs. There are many foreign exchange brokers so researching the market for a good deal is paramount. You can use the table below compare different brokers offering services to private clients weighing up the pros and cons of each.
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