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Currency Market News

Our blog is below, to help you understand what's moving currency rates and affecting the cost of your international payments. For some friendly guidance on your own transactions, either for your business or yourself, simply fill in the form above and an FCA-regulated currency broker will be in touch to assist you, without any cost or obligation.

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Is money safe with a currency broker
12 November 2014

Exchanging money with a currency broker couldn’t be easier but the question remains... is my money safe? Using a currency broker can save you up to 4% against your bank due to the fact that they trade on the live open market which enables them to work to tighter margins and put that money back into your pocket. Most currency brokers are regulated by the FCA (Financial Conduct Authority) and HMRC which are the highest accreditations a currency broker can have in this industry. As you can imagine with money laundering and funding terrorism there are a lot of rules and regulations currency brokers have to follow to ensure this isn’t the case.

Most currency brokers are "execution only" which means they do not speculate on the market and the rate you are quoted you will receive. However there are currency brokers out there who speculate on the market and will give you international rates that are currently not achievable. This is a gamble as no one can really 100% predict how the currency markets are going move which could see you lose money, so it is a good idea to find out if the currency broker you are using are execution only or speculative.

In all cases client funds are held in a segregated and safeguarded client holding account which would be completely separate to the main company funds. This means if anything happened with the company client funds would be safe and secure and passed back to the client.

If you would like to get a quote from a reputable currency broker you can fill in the form at the top and a currency broker will get in contact to help you with you international payments.

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