What is a currency broker?
Currency brokers like WorldFirst make the process of moving money around the world better. Because we focus on doing one thing brilliantly, we’re able to make it faster, cheaper and easier than many traditional foreign exchange providers like High St banks.
The process is simple; most service providers make money on foreign exchange by adding a margin – known as a ‘spread’ – to the rate they buy the currency at before selling it you. At WorldFirst we simply take a smaller spread than most banks.
WorldFirst is one of the UK's leading currency brokers, having already helped move more than £60bn around the world for nearly 100,000 clients since 2004.
Opening an account is quick and easy, and once you've signed up, our team can help you:
- Make fast, secure international transfers
- Benefit from great FX rates from day one
- Access unique market analysis via the WorldFirst blog
- Avoid unnecessary fees too – there are no hidden fees on FX transfers
Why use a currency broker?
If you’re moving money around the world and between currencies, we can help. For example, if you’re:
- Buying a house overseas
- Living or working overseas and sending money home
- Paying for tuition fees and living expenses overseas
- Receiving your pension in another country
Whatever your reason, WorldFirst can make it faster, cheaper and easier.
Currency services we offer
Spot trades are done ‘on the spot’, meaning that they are executed immediately and the exchange rate you will be offered is based on the market rate at the time of your transfer. Spot trades are a quick and simple way of paying a supplier or beneficiary overseas.
Forward contracts allow businesses and individuals to guarantee a rate now for a fixed period of time, for a duration of up to three years. You effectively agree to buy a fixed amount of a set currency (e.g. €20,000) at a fixed rate over a set period (e.g. 2 years). Many clients, both businesses and individuals, like forward contracts as they provide certainty for budgeting though the downside is that the market moves constantly and may move against you during the period of your forward contract.
Choosing a currency broker for your business
Exchange rates can make a big difference to your bottom line of your business. That means it’s vital to choose a currency broker who understands your business. And that’s where we come in.
Whether you're exporting, importing, or paying staff across many countries, we can help you find the right solution for your business.
Our specialist currency brokers are on hand to help you navigate the currency markets and help you find the right currency strategy for your business.
Isn’t it time you signed up with WorldFirst?.