Currency Matters
Premier FX takes the stress out of currency exchange
Currency exchange and international payments are becoming part of more and more people’s lives. Many people now have holiday homes abroad, whilst many others are striving to own one. There is more business being done that involves an invoice in another currency or at least the workings of pricing in other currencies. All this adds up to more international payments being made.
The popular way to do this was through banks; however, uncompetitive rates, payment charges and no expert service have given rise to the currency specialist. Currency brokers have also become more sophisticated in their workings and now anyone who is in this industry has to be fully regulated by the UK Financial Conduct Authority and HMRC. This gives the customer further peace of mind as all client funds are held securely in separate client accounts as per the regulatory rules.
How does a currency broker help you? The exchange rates are far better than the high street banks, the payments are usually sent free of charge and you can probably do the trade online from the comfort of your own home, making the experience a lot less stressful. When people have a currency purchase to make, it seems it is the last thing on the agenda. It is quite important to get a strategy in place beforehand. By doing this, you may be able to erase the possibility of exchange rate fluctuations and in fact end up with more currency for your money.
This is quite important because exchange rates can move quite violently at times. The foreign exchange markets turn over billions of currency each day, and any piece of economic news or a major event in any one country can in fact cost because of the exchange rate fluctuation. This is why it is becoming ever more important to be in touch with your currency broker as soon as you know you will be sending money abroad.
The saving on a large sum, for example a house purchase, can be up to 4-5%. Naturally this is quite a lot and will help finance other expenditure. Of course once your purchase is made, there will be ongoing expenses, so again, it’s good to plan for these and make as many savings as you can.
At Premier FX, they can take the time to chat through all your individual requirements and suggest the best option for you to take. The company also has an online trading system that adds to the convenience of making your currency payments 24 hours a day, 7 days a week. Being located in the Algarve has also helped them get closer to their clients and understand their needs. Currency exchange is no longer a taboo subject, and Premier FX are there to make it as stress-free as possible.
www.premfx.com
