FAQ's
See below frequently asked questions
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.