What are the benefits of Forward Contracts when purchasing my currency?
When you buy forward you are securing a rate of exchange today for funds to be delivered at a future date.
A
forward contract is helpful when there is a schedule of payments to be
made over a period of time. Fixing the exchange rate with this device
will ensure that you realise the true value of your property from day
one.
What are the key benefits of using IFX as my foreign currency broker?
IFX
are renowned specialists in foreign currency broking. They have
developed an enviable reputation for consistently delivering deals with
far superior (‘commercial’) exchange rates. IFX currency brokers are
trained to support this with the highest level of personalised service.
If
you choose IFX as your currency broker, you will be assigned a
dedicated foreign exchange dealer as your account manager who will keep
you fully informed about market movements. They will assist you through
each stage of the money transfer to ensure that you make the most of
your investment.
What does a foreign currency broker do?
IFX
currency brokers are trained to a very high level and have all the
skills necessary to provide you with the help and advice necessary in
the deal process. This will help to ensure that your foreign currency
transaction is completed efficiently and at the most competitive
exchange rate when you transfer money overseas.
Unlike high
street banks, IFX currency brokers calculate currency rates based on
the volume of trading that they do transact each day. This helps to
ensure that on your deal, a more competitive exchange rate is achieved.
Will my IFX broker inform me of the best time to buy?
If
you are planning to transfer money abroad to enable you to purchase a
property and would like IFX to help you, you will need to open an
account with IFX. This can be done online by clicking here.
As
with all currency brokers in the United Kingdom, IFX are registered as
a Money Service Business (MSB) with HM Revenue & Customs. As part
of this regulation you will be asked to provide clear identification,
usually a copy of your passport and verification of your home address.
Acceptable
forms are a utility bill or bank statement clearly showing your name
and address which must be dated within the previous three months.