When you have found an overseas property that you would like to purchase, you will invariably need to transfer money to a foreign currency and this is where a specialist currency broker can help.

Always Consider a Specialist Currency Provider

When it comes to financial matters the first port of call for many is often the banks. But when it comes to currency this is rarely the best way forward. Specialist foreign currency brokers such as Foreign Currency Direct plc provide a service which is aimed purely at assisting clients transfer currency internationally.

With exchange rates that can beat banks by as much as 4% while providing a proactive service that can help clients make informed decisions, you can see why many choose this route.

Benefits of Using Foreign Currency Direct plc

  • Bank Beating Exchange Rates – saving money is clearly one of the major benefits of using Foreign Currency Direct, it is not uncommon for clients to save as much as 4% compared to the banks which on a property transfer could mean a saving of thousands for clients.
  • Personal Services – when you register with Foreign Currency Direct plc you will be allocated a single point of contact, this knowledgeable and helpful currency broker will be your one point of contact the whole way through the process and will be on hand to help you should you have any questions.
  • Safe and Secure – as a public limited company with a turnover of approximately £500 million per annum which is authorised by the Financial Conduct Authority you can have the peace of mind that your funds will be secure throughout the entire transfer.
  • No Commissions or Hidden Fees – Foreign Currency Direct plc do not charge any fees or commissions for transfers over £50,000 and there is only a £15 transfer cost for transfers under £50,000.
  • Easy Account Opening – our account opening process is free, fast, secure, and carries no obligation. You can fix and therefore guarantee your currency as soon as you have opened an account.
  • Multiple Contract Options – whether you need to move a large lump sum of money or have a small regular requirement for pension or mortgage payments we can help.

Contract Options

A specialist currency provider will offer numerous contract options which include the following;

  • A spot contract – this allows clients to secure their exchange rate for immediate delivery. Once the exchange rate is secured on a spot contract clients typically have 2 working days to transfer the Sterling across.
  • Forward contract – using this contract type clients can secure their exchange rate at today’s rate for a period in the future just using a small deposit, normally about 10% of the contract value. A forward contract is useful because it allows clients to fix an exchange rate even if they don’t necessarily need the currency immediately or have all the Sterling available but want to know how much the currency will cost them and take the risk of a volatile currency market out of the equation.
  • Market orders – these comprise a limit order and a stop loss.  A limit order allows clients to target a specific rate of exchange even if it is not available at the present time and then as soon as the rate becomes available our systems will automatically buy the currency. A stop loss order is the opposite of a limit and is used to protect clients from the rates dropping below their worst case scenario, this can be used in conjunction with a limit order.

 
 


 
 

guide-to-france-pdf-preview

Want more information on foreign currency exchange?

How about reading Foreign Currency Direct’s in-depth guide to moving abroad?

Our guide goes over a number of options to consider if you’re hoping to move to France.

Have a read of our Moving to France guide here.

 

 

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Incorporated in England no. 5082565.    Foreign Currency Direct plc is authorised by the Financial Conduct Authority under the Payment Service Regulations 2009 [FRN 538392] for the provision of payment services.