You can’t choose your family, but you can choose your FX broker
When you’re looking to transfer currency – whether learning the market or finally making that dream foreign home a reality– you need to make sure you consider the whole market.
As with many sectors the digital evolution has changed the Foreign Exchange market by making information more accessible – perhaps too accessible. This forest of information can be quite daunting but we at SATFX are here to provide the map to help you see the wood through the trees – excuse the pun!
Here are our 5 top tips for things you should look for in a foreign exchange broker:
- 1. Make sure that you can talk to someone
If you need further explanations or you have queries that you need answering there is nothing more infuriating than talking to a robot or waiting for a support email – which may mean you miss the rate you were looking for.
- 2. Double check there are no hidden costs
So many brokers are now saying their service offers ‘no transaction charges’ which sounds amazing but then when you come to exchange your finances you find that there is a subscription fee! a charge for trading “out of business hours” or a deduction from the amount you’re sending.
- 3.Confirm they’ve received positive reviews
Trust pilot, google review, social media, etc. have made reviewing the transparency of an organisation very easy. You can review honest customer feedback at a click of a button.
- 4.Read what they’re saying
Let’s be honest, you need advice from an expert who is interested in supporting you in the long term. Have a look at the information they are publishing – make sure they are Foreign Exchange experts.
- 5.Look into the longevity of the organisation
No ‘fly by night’ operations needed. Make sure that the FX broker you choose have been around for a while (at least 5 years), and are FCA regulated -as these achievements should reassure you that the organisation is reputable and will be trading for years to come.
At SATFX we believe that to provide the best foreign exchange service we need to offer our business and private clients more than just a competitive exchange rate. While our exchange rates are better than the high street banks, and we don’t have any hidden costs or extra charges, our superior approach to service offers a lot more.
- -Full range of foreign exchange transactions— unlike your bank we offer spot and forward contracts, regular payment contracts and the option to use market orders to meet your needs. As well as Xero integration, bank accounts and much more…
- -A tailor-made service with no hard sell— we offer a personalised approach so we can provide a foreign exchange service to suit your individual requirements and let you decide a path that best fits your situation
- -Proactive service— we keep you updated on currency movements and advise on the timing of your transaction to protect you from fluctuating exchange rates
- -Convenient and easy-to-use– we are always available to take your call if you need advice or want to trade over the phone. You also have the option to trade with us online so you can change money whenever you like, wherever you are
As a vibrant, established business SATFX is proud to be the first choice foreign exchange provider for its many loyal business and private clients. Contact us now to get started: 01491 577 550 or visit our website for more information.