Foreign Currency Direct Review

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Started in 2000, Foreign Currency Direct specializes in only foreign currency exchanges. This company can operated with lower costs because it does not become involved in other financial sectors. Based in the United Kingdom, this company has a regular yearly turnover of 500 million pounds.

The chief executive officer of Foreign Currency Direct is Peter S. Ellis. He created the company to help minimize the costs of transferring money for clients around the world. As a part of this goal, his company worked to beat the rates offered by banks. They can currently beat bank rates by as much as 4 percent. News media has taken notice of this company. Foreign Currency Direct has been awarded the title of best exchange provider for the last three years. The Telegraph has also listed Foreign Currency Direct as one of the United Kingdom’s top exchange brokers.

Customer Service and Secure Transfers

At Foreign Currencies Direct, the client comes first. To achieve this goal, Foreign Currencies Direct ensures that each client talks to the same person each time they call. This consistency and attention to detail are all a part of what makes this company great.

All clients at Foreign Currencies Direct can rest assured because the transaction accounts are held safely within Lloyds TSB Bank. The company uses the Irrevocable Payment Document to provide clients with proof of payment. This equals out to fast, efficient and safe transfers. Foreign Currencies Direct is a PLS and is authorized by the Financial Services Authority. Accounts at the company are audited every year by Price Waterhouse Coopers to ensure that everything is above board.

Each Client Talks to One Broker

At Foreign Currencies Direct, each client deals with just one broker. By doing this, the company ensures that every client has someone that understands them and their needs. They can answer any questions, offer a variety of options and guide consumers through the process of registering an account and making a transfer. The professionally trained specialists are skilled in market knowledge and rate fluctuations. Clients can take advantage of this knowledge base to figure out the best time for them to exchange currencies.

Fees and Purchasing Options

Any transaction that is under £50,000 has a fee of £15. Amounts above this limit are provided with one free transfer for every transaction.  Clients can then select if they want their transaction to be a spot contract or forward contract. Foreign Currency Direct lets customers select a limit order or stop loss so their finances are always protected. New clients may also contact the company for a free quote before they start doing business with Foreign Currency Direct.