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Five Benefits of Using a Broker

August 31, 2018 4:45 pm | Modified September 10, 2018 2:38 pm
Currency | BY Ashleigh Fox

Whether it’s for business or pleasure, when you transfer your money abroad you want to ensure you’re getting the most amount of currency for your money. Here are five benefits to using a currency broker over another payment provider.

1)  One Point of Contact

When you register with a broker you’ll have a dedicated Dealer, who can spend time getting to know your needs so that you can make transfers at the best times for you. You’ll have a direct number to reach them on and can call them to discuss your money transfers whenever you need.

2) Transfers Tailored to You

It might be that your business wants to put in place a hedging strategy to protect its bottom line. Perhaps you’re buying a holiday home overseas and want to lock-in an exchange rate for up to two years to protect yourself from market movements while the paperwork’s being completed. Speaking to a currency specialist can give you more choices about how you manage your transfer, so you can make the most of your money.

3) Organise Your Payments Online

If you want to look at your payments at midnight in Hong Kong, or breakfast in Berlin, some brokers offer online platforms where you can organise, manage, and view your payment history, giving you more flexibility wherever you are and whatever time zone you’re in.

4) Great Exchange Rates

Brokers are currency specialists and can offer great exchange rates that get you closer to the interbank rate. The difference of a few digits can greatly affect how much currency you receive, so using a broker that gives you more for your money is a smart choice.

5) Market Insight

When you sign up with some brokers, you’ll be able to receive regular market updates so you can stay up to date with exchange rate movements. This kind of information can help you capitalise on a positive market shift, and protect your funds should a negative one occur.

Currency News Centre works in association with a currency broker, click here to find out more.

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