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Pure FX is regulated under the Financial Services Authority in the United Kingdom. This company uses Lloyds Group PLC for their designated client accounts. All money transferred by the company is protected at each stage of the process. Consumers can rest assured knowing that their money is protected. Pure FX is registered with Her Majesty’s Revenue and Customs and is also a member of the UK Money Transmitters Association.
This company was started in just 2006 and is one of the newer players on the Forex market. Over the course of the last six years, Pure FX has managed to increase its business primarily through customer recommendations. This growth method is a testament to the company’s commitment to customer service and low exchange rates.
The entire process of transferring money is exceedingly simple when consumers and businesses use Pure FX. Individuals who are making a home purchase or currency transfer abroad are given a currency dealer who guides them through every step of the process. They help each client to get the best exchange rate while providing a high level of customer service.
Low Exchange Rates
Brick and mortar banks have a much higher level of overhead. From the cost of rent to maintaining a full staff, traditional banks have more costs to meet. Online services like Pure FX can offer lower exchange rates because they have less overhead to pay for. Many of their services are provided exclusively online so the company needs very little space or staff to meet the demands of their customers.
Forward Contracts and Time Options
Clients can choose to lock in the exchange rate with a forward contract. For a client who lives on a set income, knowing how much money will be transferred each month is the key to budgeting and living comfortably. Forward contracts can be set for up to two years in advance. If clients choose not to have forward contracts, they can just set up a one-time transfer or a regular exchange.
Conveniently, Pure FX uses a time option for performing transfers. It operates much like a forward contract except it does not have a timeline for when the transfers must be made. Users can withdraw money when they want it at the pre-agreed upon rate. Other exchange options are also available. For more information about the service, clients should check out the Pure FX website and talk to a currency exchange specialist.