Top Foreign Currency Companies
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Our Top 100 Foreign Currency Companies Leaderboard - #TOPFX100
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Homegofast.com Official Top 100 Foreign Currency Leaderboard
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We have worked with numerous FX companies and know that the right company can help overseas buyers save literally thousands when transferring money abroad. We advise all our buyers to seek specialist foreign currency advise knowing that a fluctuation in currency rate could cost investors , holiday home buyers and those looking to move abroad a fortune.
Warning:Currency planning and using a specialist FX company is essential in achieving the best deal.
Why use an foreign currency money transfer specialist
When buying or selling overseas property employing a currency transfer can save you money compared to high street banks
High street banks often charge high fees for international wire transfers, in addition to commissions. Comparing FX compnaies you may find money exchange itself fees to be at least 40% cheaper with commercial companies over banks. The larger the transfer is, the higher the saving, as you’ll get cheaper quotes. To ensure best saving, compare between a few companies The best FX companies assign clients with a unique foreign exchange specialist in order to create a bespoke plan that will optimise the saving, as well as an array of technological tools embedded inside their online platform. The international money routes are planned in order to avoid bank unnecessary fees (such as recipient bank fees).
Choosing how to exchange your money
The right way to send money overseas depends on a number of factors including:
- How much you are sending
- How often you are sending it
- How quickly the money needs to get there
- How the person wants to receive it
- How much it is going to cost
Some good advice and tips can be found at the independent advice website Money Advice
Best FX brokers
In simple terms, the role of the forex broker is to give advice and assistance to currency traders. The forex currency market is a worldwide market that operates round-the-clock, and such a vast market is replete with pitfalls for the novice and experienced forex trader alike. Using a forex brokerage will allow the trader to do business on the currency market 24-hours a day, and the broker will also advise on the price of leading currencies around the world at any given time. Of course, in the end, whether the forex trader has success or failure with a specific trade is down to his or her own skill and decision-making, but the help and advice of a competent forex broker is always highly desirable. The Money Saving Expert also gives some great advice on foreign currency transfers
How to find the best FX companies
Lets face it using an FX company to transfer large amounts of money abroad is not an everyday activity and for most of us we will not know where to begin. That is why great customer support is a must when choosing a Forex broker. Even if you think you know everything that is to know with trading and with the platform you use, you never know when you are going to need help. A customer staff that can be reached at anytime and provides assistance on a very short notice can make a huge difference in your trading experience . Remember to choose a broker that you’re comfortable with. This doesn’t necessarily have to have all the bells and whistles offered by others.
Never use companies that don’t require you to provide any identification documents. These are required by law and this could suggest the company is not a registered Money Services Business. You can check the register of money service businesses at HM Revenue and Customs.
Avoid companies that are offering a rate the same as the interbank market rate or above it. This would mean the company is not making money or is losing money on your transaction. Although this might seem like a good thing, it may mean the broker is speculating to make a profit or it could mean it is making losses which might threaten their solvency.
Only deal with brokers who operate client segregated accounts, that way you’ll know that your money is safe. It will be able to confirm who its bankers are.
The cheapest is not necessarily listed first because other services relevant to your transaction can be as important as price. These include, how long the broker has been in business, how suited they are at dealing with the amount you’re sending, whether they have people available at the destination to deal with your transaction and overall ratings from previous customers. It’s up to use to choose the best one for you. The results are ordered randomly.
Some questions to ask to find the best FX brokers
Can the broker offer other services?
How long does it take for money to arrive once I send it?
Once you have registered, booked the trade and sent your funds, it should take between one and two days for popular currencies and three days or more for exotic ones.
Can I transfer money online or do I need to phone?
Do they have an online service with 24hr access, where you can track your transfer and view all transactions.