using a currency exchange broker

“How much can I save by using a currency exchange broker?”

The first question that everyone asks! Obviously it depends on the size of the transaction and like anything else, the relationship that you have with your foreign exchange broker and with your bank.

For a start, you’ll make an instant saving of around £20 – £30 on the transfer fee as most foreign exchange brokers (unlike banks) don’t charge a fee for most international transfers. If making regular payments for a mortgage or pension this can prove to be a substantial sum in itself over the course of the year.

When it comes to the transaction, don’t be surprised if you would see savings of up to 5% on a currency transfer in the region of £20,000 – £200,000. The higher the currency transaction the better the rate you will ultimately get. Upwards of £200,000 you can expect to see savings of up to 3%, still a significant saving!

But it’s not only money you’ll be saving, it’s time as well. You can contact your dedicated account manager at your foreign exchange brokers via phone or email and speak to them direct and trade within minutes after you are registered. This cuts out the hassle of having to go into your bank or going through a switchboard which could end up being a foreign call centre.

Tags:  currency exchange broker, foreign exchange, using a currency exchange broker