Why Using a Foreign Currency Broker Can Make Good Business Sense
If you are being paid by overseas customers, you could be paying far too much on your international currency exchange if you just use your local business bank. Likewise if you are sending large payments overseas, you should also be able to secure a better rate of exchange. A dedicated currency foreign currency broker can often get you better rates. Here are our six reasons to use a broker;
Using a dedicated brokering solution, you could target an exchange rate so they only buy or sell at a pre-agreed rate
Some brokers will offer you forward contracts whereby they allow you to lock an exchange rate for a period of time during your contract term so that you can access a fixed rate throughout, giving you peace of mind
You can bulk order large currency amounts for example if you are buying a home overseas and could make huge savings
They give you expert guidance on how to manage your foreign currency
You can hold multiple foreign currencies on an online brokerage platform without needing to hold various individual currency bank accounts
Their transfer fees are often lower than the high street banks and they can offer more competitive real-time exchange rates
If currency exchange fluctuation affects you, we can put you in touch with a currency broker who will help you maximise your £, so get in touch.
FUSE is an independent Chartered Certified firm of accountants and tax advisors based in Highgate Village, North London. We provide a dynamic range of services to clients working in property, media, entertainment and professional services. Our clients vary in size from self employed sole traders, small enterprises and medium size businesses. We believe that comprehensive financial planning and sound business financial advice are the keys to growth and profitability.
