Although there are myriad strategies and a variety of complex derivatives and financial instruments employed by speculators for buying foreign currency, implementing straightforward low-risk spot and forward trades to transfer money overseas is surprisingly simple

For a once only transaction a spot contract has the virtue of simplicity and low risk. If you have the required funds readily available, and your transaction is booked before 10am, your IFX currency specialist will buy the foreign currency at the market ‘spot rate’, and will be able to confirm to you before the transaction, what the applicable rate is and what movement is anticipated.

There are usually no surprises. Spot contract settlement is required within two working days, and onward payment of your foreign currency can be credited to the beneficiary account you nominate, usually the same day that your settlement funds are received.

Forward Contracts

These contracts are typically used when a schedule of payments is required over a period of time, but they can also be used to take secure currently favourable rates for a future trade. (again the warning about ‘betting on the markets’ applies). Buying forward can secure a rate of exchange today for funds to be delivered at a future date, up to two years ahead.

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The benefits to the investor are really related to certainty and risk management. A forward contract will crystallize your future costs, and allow you to budget for future payments with certainty. By fixing the rate in this way you can price your property purchase exactly and budget your future payments through to completion.

There really is no need for you to speculate on currency, which can so often place property purchasers in difficulty at completion, a time when this is least wanted or expected. Leave any speculation to IFX specialist in providing tailored foreign exchange (Forex) services to buyers and sellers.

Often without realizing that there are more cost-effective alternatives, British residents who rely on their banks to exchange large sums of money when investing abroad can lose thousands of pounds with every transaction. As an independent currency broker, IFX is in the unique position of being able to deliver not only superior exchange rates, but also an invaluable one to one personalised service.

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From a financial perspective, the objective for most people buying property overseas is to ensure that they complete on the property purchase knowing in advance, how much they will have to pay and when the funds have to be paid. Often it is the first and only time that a person will need to access large amounts of currency.

As specialists in providing tailored foreign exchange (Forex) services to buyers and sellers, IFX understand this and are dedicated to deliver a service which enables the purchaser to achieve their objectives of buying foreign currency and transferring their money overseas without any surprises, worry or difficulty.

IFX employees are highly trained in the processes involved in seamless and successful foreign exchange (Forex) dealing.

Just as importantly they view their clients as real people rather than ‘just a name or number’, and actually take the time to really understand what their client’s needs are.

For the most competitive exchange rates available and real peace of mind, apply on-line to open an account with IFX. You have absolutely nothing to lose.