BUYING GUIDES
Foreign currency exchange
Whether you are buying a property abroad for investment, retirement or holidays, at some point during the buying process you will almost certainly have to exchange large sums of money into a foreign currency.
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Many people automatically turn to their bank for this foreign exchange not realising that alternatives are available. However, poor exchange rates, high transfer fees and commission charges all eat away at your money and mean that using your bank could cost you dearly.
However, by using a foreign exchange specialist you can get more of your money time after time.
As an alternative to your bank, a foreign exchange specialist is able to offer you extremely competitive exchange rates, no commission charges and lower transfer fees. This can mean considerable savings on your transfer when compared to using a bank. In addition a foreign exchange specialist will talk you through every step of the currency buying process making sure that you are kept informed of any changes in the market that may affect you.
Foreign exchange specialists can offer you a number of buying options depending on your timing, circumstances and foreign currency needs. Buying options include spot deals, forward contracts and limit orders, many of which are usually not available to private individuals through a bank.
Spot Deal
If you need to transfer money quickly, this option will give you the best rate available right now and guarantee it.
Forward Option
If you’ve got a purchase date agreed or payments due on given dates, you can fix a rate for up to 2 years. This allows you to protect yourself against any movements in the market.
Limit Order
This is used when you want to achieve a rate that is currently not available. You set the rate that you want and the market is then monitored. As soon as that rate is achieved the currency is purchased for you.
If you haven’t had to deal with these sort of transactions before it can seem a little daunting, but Currencies Direct, a market leader in foreign exchange, can help give you an exciting and cost-effective start to your life abroad.
Offering a tailored service to each client, you will be assigned a dedicated dealer to talk with you, as often as you require, about up-to-date movements and general predictions on market fluctuations – in plain English! Offering competitive rates for all major currencies they will identify the best opportunities for you and your money. With no charge for registering, no obligation and no commission fee, Currencies Direct offers a stress-free method of transferring funds promptly and accurately.
The information you need to potentially save thousands is only a phone call away. To take control of your finances contact Currencies Direct today.
