As one of the United Kingdom’s fastest growing brokers, World First offers individuals everywhere better exchange rates and customer services. They have worked with over 20,000 clients and 3,000 companies. In 2008, World First had over £1 billion in transactions. Each account has its own Account Manager who ensures that they receive the best exchange rate and advice.
Safety of Investments
Accounts at World First go through HSBC Bank PLC and are under the regulation by HM Revenue and Customs. They also offer regular payment plans for accounts abroad. These cost-effective options can be scheduled so if the individual is living abroad, money can be easily transferred out of their United Kingdom bank account. Since World First is a larger organization, it offers more security than the smaller currency exchange businesses on the market.
Savings Offered by World First and Forward Contracts
World First offers a saving of 0.5 to 3 percent compared to larger banks. Larger orders receive special discounts. For anything under £10,000, they charge a £15 fee. Exchange rates can be fixed so the customer can choose the rate they buy or sell currency at for up to a year in the future. These forward contracts allow the client to agree on an exchange rate that they can receive at some point in the future. Instead of hoping the exchange rate does not get worse, the client can relax knowing that they will receive the same rate in the future.
The organization never charges a commission and automatically alerts the customer once the transaction is complete. Clients get the same quality of service regardless of their size. Large banks only offer corporations the same level of service that World First gives each of their clients.
Parent Company and Subsidiaries
The parent company of World First is World First UK Limited. Most of the transactions will actually go through this company. For options or hedging structures, clients must go through World First Markets Limited.
Clients at World First receive some of the best experience and customer service on the market today. Regulated by the Financial Services Authority, this company never claims any of the funds that are claimed by creditors. All client transactions are held in separate accounts that are completely independent of any business accounts. With a low service charge and easy access, World First is one of the premier exchange services on the market today. Safe, secure and comprehensive, World First has developed a reputation as one of the better companies in the United Kingdom in the 21st century.
World First History
2004 – World first founded
2009 – Queens Award for Enterprise (International Trade) awarded to World First for offering its clients “exceptional exchange rates, service and innovative products.”
2010 – The company won the prestigious Service Business of the year at the Fast Growth Business Awards
2010/2011 – The company awarded Outstanding and First Class awards in the Best Companies Guide that scored businesses on how good they are to work for.
What we like about World First
- Competitive rates and “best rate guarantee”
- Excellent dealing desk
- Clients’ money kept in segregated bank accounts
- A1 credit rating from Dun & Bradstreet (the highest available rating for a company their size)
- World First Online allows clients to check rates online. They can also check their current balance and book spot and forward contracts with the click of a button.