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How Do You Buy And Sell Foreign Currency?

By Peter Lavelle

Do you import and export products as part of your business? Do you intend to emigrate, and perhaps buy a foreign home abroad? In either case, an important part of accomplishing your goals involves buying and selling currency.

For instance, if you’re in the UK but want to import US goods, you need to sell pounds and buy dollars first. Similarly, if you live in Britain but want to relocate to France, you need first to exchange your sterling into euros. How then do you go about that? In this article, I want to answer that question.

1. You’ll need to use a specialist service.

To buy and sell currency, you’ll need to use a specialist service such as that available from ourselves. This is because, though it’s technically possible for you to set yourself up with a forex platform and trade currencies independently, this takes months of training and it’s easy to make mistakes, which could be expensive.

Instead, if you trade currencies with a specialist like ourselves, you can take instant advantage of our experience and knowledge to get the best exchange rate. It’s a much more convenient proposition.

2. How can you buy and sell foreign currency with Pure FX?

To exchange foreign currency with us, you’ll first need to register a trading facility, which you can do here. This means you become a client of ours, and enables us to buy and sell currency on your behalf. Of course, just because you’ve opened a facility with us, doesn’t mean you’re under any obligation to do so. In addition, there’s no cost to registering a facility.

Then, once that’s done, it’s simply a matter of instructing our dealers what currency you want to buy and sell. For instance, if you want to transfer money to France to buy a house, simply tell us how many euros you want to purchase, and when you’re happy with the exchange rate, we can do that. This is a way you can buy and sell foreign currency that isn’t in the least bit technical.

3. What are the advantages of using Pure FX to buy and sell foreign currency?

First and foremost, you’ll be benefiting from our status as foreign exchange specialists. This means we can provide in-depth personal guidance throughout your transfer, such as keeping you up to date with the foreign exchange rates, telling you about the options available for your transfer, and helping throughout the entire process from beginning to end.

In addition, we offer superior exchange rates to many other foreign exchange services: up to 4.0% better than those available from high street banks. 4.0% might not sound like a lot, but on a transfer of several thousand pounds it adds up to a considerable sum, meaning we offer substantial savings.

Get in touch

I do hope this post has been of interest.

To find out how this data has affected your foreign exchange transactions, call us on +44 (0) 1494 671800 or email [email protected]. You can also visit us at foreign exchange specialist Pure FX. We’d be delighted to help with your enquiry.

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  • 1. Register

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  • 2. Agree the exchange rate

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    for the transfer of your purchased currency
  • 4. We transfer the currency

    to your nominated account