"Many thanks for your efficient service and good advice, hope to use them again in the future."
- Mr & Mrs Broadbent, France
Whether you need to buy euros for a property purchase in France, or are buying dollars to import products from the Far East, it is essential you obtain insight from a specialist currency broker.
Why? Well regardless of whether you are buying euros or indeed any other currency, it can be a bewildering experience.
Commissions and transaction charges vary considerably. Then of course you need to consider whether the receiving bank will make any deductions. For example, if you need to buy euros to complete on a property purchase but discover the receiving bank has deducted €100.00 from the amount you sent then the property sale cannot complete.
Then of course exchange rates move up and down all the time, so it can be difficult to know where to turn to when buying currency.
How Pure FX can help?
Pure FX is a wholesale currency broker and offers clients insight on the options available when it comes to buying or indeed selling currency.
For example, we recently received a call from a client purchasing a property in France and they had not made large money transfers before. The most obvious solution would have been for the client to wait until completion, buy euros with a spot contract and then send the euros to France.
However he had 8 weeks before completion so wanted to take advantage of this whilst exchange rates were in his favour, but did not want to tie up his capital through buying euros early. So with a forward contract we fixed his exchange rate on the total amount of euros needed and our client did not have to tie up his capital.
The outcome, well rather than us explain here is an email he sent.
"Many thanks for keeping me in touch with the best exchange rate at the time you did. It looks as though I have saved £7,000 on the deal compared with waiting until now. Thanks again!"
- R. Green, Devon
We will not go as far as saying that every client who buys currency with Pure FX will save £7,000, but we do pride ourselves on the service we offer and would welcome the opportunity to demonstrate our credentials.