Why Do I Need A Currency Broker?

For the majority of people the only time that they will ever need to have dealings with the foreign exchange is when they require foreign currency for a holiday overseas. There are many deals to be found on the High street of any town offering a good exchange rate or you can use the services of your bank. As relatively small sums of money are involved the cost will not have a huge effect.

Some people have to deal with foreign currency exchange on a larger scale perhaps if they are buying a property overseas or emigrating. As the funds involved are going to be substantial any fluctuations in the currency market may have a large impact on the outcome. Requesting the services of a currency broker will have many benefits, especially if you are new to the foreign exchange.

A currency broker has one major advantage in that he studies the exchange rates constantly so that he is able to give you advice based on what is happening at that particular time. If the exchange rates are beneficial it is possible to arrange a Forward Contract which allows you to fix that particular rate for up to one year. This allows you to budget long term as well as save a huge amount of money if the rates alter dramatically.

Here at Pure FX we are able to offer advice based on your requirements. We will use plain English which guarantees that you will understand every aspect of your money transfer and know exactly what you are paying and why.  We offer the services of a personal account manager to assist you and be available to offer advice if required.

Organising a money transfer, especially on a long term basis for larger purchases can be a confusing process and for anyone who doesn’t understand the impacts of the foreign exchange the financial implications can be huge.