A Free Guide to 'Currency Exchange & Money Transfers'
Don't waste time comparing currency brokers and banks, read this 12 Page 'Insiders guide' to fully understand how to get the best deal and save - Fill out form below to view as a PDF
| Symbol | Price | Change | % Chg |
| GBPUSD | 1.57 | 0.01 | 0.46% |
| GBPEUR | 1.20 | 0.01 | 0.71% |
| EURUSD | 1.31 | 0.00 | -0.22% |
| GBPAUD | 1.74 | 0.00 | 0.09% |
| GBPCAD | 1.61 | 0.00 | -0.23% |
| GBPNZD | 2.16 | 0.01 | 0.24% |
| GBPJPY | 136.99 | unch | 0.00% |
| GBPNOK | 9.53 | 0.02 | 0.24% |
Quotes are by IDC Comstock and are delayed 20 minutes.
Fund prices are from Morningstar. |
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About the guide
Like you, millions of other people in the UK & US plan to own an overseas property or to emigrate abroad this means they will have a potential currency exchange requirement to deal with.
Small business operating on tight profit margins can see their returns disappear if the exchange rate moves against them so it pays to look at the various options avaliable for hedging just as a larger form would do.
This is a useful guide if you are/have;
Confused about Currency Exchange and Overseas money Transfers?
Been referred to currency brokers by your Agent/IFA/Accountant?
Unsure if you can actually save money using a broker or even if its safe?
If you want to check out live interbank FX rates or verify overseas bank accounts go to;
useful links
Currency trading for physical delivery Not Regulated by the FSA
Exchanging currency for 'physical delivery' purposes is an not a regulated activity by the FSA (Financial Services Authority) or NFA (National Futures Association), in fact the only regulations covering this industry are to prevent money laundering.
Unfortunatley therefore, very much like estate agencies, there can be some 'sharp practices' used by both banks and currency brokers to make substantial sums from your transactions, don't let this happen to you....
Using currency brokers can be a little like dealing with car salesmen, if you know how and where to push and the right questions to ask you can get yourself a geniune bargin. Currency brokers ultimatley deal on margins these can be negotiated especially if you put yourself in a strong negotiating position by eliminating the knowledge gap.Request Free Guide
How this currency exchange guide can help?
This guide has been written by ex-currency trader Brad Thomas to help those people in need of transfering money between countries worldwide.
Brad has seen all the tactics employed by salespeople eager to earn large commissions from ill informed clients. And he wants to share this information with you, this is fact not fiction.
In this guide, he will show you you how to negotiate the best deals and how to avoid common mistakes that may lead to wasted time and money by:
Showing you the common 'sales tricks' used by curreny brokers and how to avoid falling for them;
Tried and tested methods and useful tips when dealing over the telephone with currency dealers and/or with oversea banks;
Offering truly independent guidance on currency transfers, and the trading 'tools' you can use to your advantage depending on your own situation such as, 'market orders' and 'forward contracts'.
Showing you how to find the resources you need plus explaining the jargon and myths surrounding the currency 'FOREX' and 'interbank' markets.
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Common currrency exchange mistakes made by private individuals and business owners.
To leave currency exchange until the last minute, then simply accept the bank rate offered. Currency exchange should be considered the moment you decide upon the property, would you buy a property in the UK without knowing the exact price?
To blindly follow carefully worded 'suggestions' by friendly sales people looking for a commission on your transfer. Remember the FSA does not govern rogue salespeople in this industy.
To not make the necessary checks on currency firms or other intermediaries that you are dealing with.
To pay unecessary currency transfer fees and other hidden bank charges.
To suffer needless money transfer delays or holdups due to misinformation or lack of knowledge about the currency markets and banking system.
To potentially lose thousands of pounds by not negotiating your currency deal.
To waste time researching in property books or websites, that usually host affiliate schemes that want to refer you to a 'carefully chosen partner' most likely to earn a fat commission - you can get all the information here in a fraction of the time plus be confident that its totally unbiased - we do not have an interest in your actualy exchange apart from getting you the best deal so you tell others to buy this guide.
Private client case studies
Two of the many real life examples from Brad about clients experiences he has seen in the past.
Following a job opportunity Graham was almost certainly emigrating to New Zealand in mid 2006 with his wife. He first contacted the currency broker in 2005, and I 'suggested' to him the market 'feeling' was for the GBPNZD exchange rate to move against him.
Graham was sold a 'forward contract' to reserve the currency at the present market value. What he did not realise was that he actually got a lot less than the present market value, about £4,000 pounds less. The market did not move against him and as it turned out he could have saved another £20,000 by waiting to buy the currency later rather than lisening to to broker's 'suggestion'.
Because his plans had now changed and he was not going to new Zealand any longer he had to sell the curency contract back to the market at the new higher price and therefore lost the £20,000 from the deposit (margin) he had initailly put down!
In this case Mark was unlucky but by not knowing the full facts relating to the contract purchase which could have been dramatically reduiced or avoided had he spent 20 minuites reading and applying the information within this guide.
Sally was buying a new home in Turkey and had sold her UK property to finance the deal, after a couple of unsuccessful attempts at getting help with the international payment from her own bank she called my firm recormended to her by the Turkish estate agent.
When she initially compared the currency firms exchange rate to that offered by the local branch of her bank it was £1,000 cheaper so she set about registering for a 'trading account'. A couple of week later when Sally phoned her broker the price was a little more expensive but she accepted a contract and agreed over the phone to buy the Turkish Lira (TRY) and send a sterling payment via her own bank for it.
Had she actually kept in touch with the exchange rates herself she would have known that the rate had moved a long way in her favour and had she shopped around (or at least negotiated a little) she could have saved nearly £2,000 plus the £300 pounds in banking fees she was not originally warned about.
Contact details
if you have a question not answered by the FAQ please email us.
Brad Thomas (Writer) Request Free Guide