Moneycorp
Moneycorp is a foreign exchange and international payments specialist. They will
monitor the currency markets on our behalf – achieving the best possible rates of
exchange, no matter how complex your requirements. Moneycorp offer free
information and guidance on the markets, helping you decide on the best time to
buy your currency.
Locations: UK, USA, Australia, Spain, Portugal, Dubai, Turkey, Cyprus
Forward Contracts Regular Payments
Hedging Service
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Advantages
1. Their market expertise will get you the best exchange rate available, saving you
money.
2. They can fix an exchange rate that will be valid up to two years, so you will know
exactly how much foreign currency you will receive
3. Extended trading hours: 7:30am to 10:30pm Monday to Friday and 10:00am to
4:00pm on Saturdays.
4. You will have no commission charges or receiving bank fees to pay
5. Moneycorp has been trading currencies since 1979, has been certified to ISO
9000 Quality Assurance since 1996 and last year traded over £11 billion in
currencies.
6. The security of having The Royal Bank of Scotland (RBS) as a significant
shareholder in the Company.
7. Moneycorp is a member of SWIFT (Society for World-wide Interbank Financial
Telecommunications), the global platform for instant wiring of domestic and
international money transfers. This provides you with increased speed and
efficiency as well as more control over your transfers.
8. There is no cost and no obligation in opening a Trading Facility.
9. They offer a Regular Payment Plan (RPP) service to manage your regular
overseas transfers, the minimum monthly amount that you can send is £250.
10. Moneycorp's flexibility means they can tailor their services to meet any foreign
exchange requirement.
Disadvantages
1. Minimum volume is £5000 on one off transfers.
Terms and Conditions
Transactions can only be booked verbally where the exchange rate is agreed.
Once a deal is booked, a client will be sent a contract note by email, fax or post as
confirmation.
Additional Services
1. Spot Contracts - Buy or sell a currency for immediate delivery.
2. Forward Contracts - Fix an exchange rate at which you buy or sell currency for
delivery at a later date (up to two years).
3. Stop Loss Orders - Set a minimum level at which you buy or sell your currency.
4. Limit Orders - Set a higher target exchange rate at which, if this rate is
achieved, you buy or sell your currency.
5. Global Financial Services - Provided by 3 other trading divisions (includes:
Retail Currency Services, Wholesale Currency Services and Leveraged Trading).
VoltrexFX
Voltrex Ltd is a leading money transfer and foreign currency broker, helping our
clients transfer their money efficiently and safely. Whether a business covering its
exposure, an individual buying a home overseas, families emigrating to a new
country or simply wanting to transfer your money abroad Voltrex can help you.
Locations: UK
Forward Contracts Regular Payments
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Join VoltrexFX mailing list and receive free foreign exchange reports.
Advantages
1. Open an account online free of charge with no obligation to trade
2. Free transfers and no commission charges for amounts over £2,500
3. Purchase and transfer your funds through our online system
4. Transfer confirmations emailed directly to you
5. Highly competitive exchange rates
6. Ability to guarantee no receiving fees
7. Located in the heart of the City of London financial district.
6. Voltrex is Registered under the Data Protection Act
Disadvantages
1. £2,500 minimum trade
2. amounts under £1,000 transfer fees apply
Terms and Conditions
Please see the Voltrex website.
Additional Services
1. Clients have the option of using our unique desktop online trading platform to
purchase and manage their international transfers or the traditional 'voice broking'
service with your own account manager.
2. Voltrex is regulated by the Financial Services Authority (FSA) for Money
Laundering purposes.
3. Also Registered with HM Revenue and Customs.
4. Same day, spot and forward contracts
5. Able to work limit and stop loss orders
6. Daily market reports
7. Rate alert service by email, phone and sms text
Currencies Direct
Currencies Direct was the original pioneer of the non-bank foreign exchange
market and is now firmly established as one of the UK's leading foreign exchange
providers. With over 80,000 registered clients we are trusted to send £bn's
overseas each year. Core to our business is the ability to offer private and
corporate client's exceptional currency rates that banks rarely beat.
Locations: UK, Spain, Canada, South Africa, Australia, India
Forward Contracts Regular Payments
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Join Currencies Direct mailing list and receive free foreign exchange reports.
Advantages
1. Free to open an account which can be ready to trade within hours
2. Guarantee the rate you receive is within 0.2%-1% of the live interbank spot rate.
3. Can generate a cost saving of between 0.5% to 4% when compared to a high
street bank. This is equivalent to a maximum saving of £4,000 on a £100,000
transaction.
4. Currencies Direct charges no commission and no transaction costs
5. We can reduce your currency risk by offering forward contracts to help set the
rate for your future transaction
6. We will keep you informed at all stages of the payment process and provide a
more efficient service than your bank
7. All client funds are secure as they are held in segregated client accounts by our
banking partner HSBC
8. Currencies Direct is a UK registered Ltd company (Reg No.: 3041197) and
operates under the regulation of HM Customs & Excise, adhering to their Anti-
Money Laundering Regulations (MLR No.: 12132225)
Disadvantages
1. You will undergo an ID check as part of the account opening process which for
non-UK residents will require additional identification documents to be submitted.
Terms and Conditions
See website for details
Additional Services
Spot Contracts, Forward Contracts, Stop Loss Orders, Limit Orders
1. Spot Contracts - We buy or sell your currency immediately on the live markets
2. Forward Contracts - We can fix an exchange rate for up to 24 months thus
protecting you against future adverse currency movements
3. Limit Orders - You can set an upper rate which you are seeking to achieve and
we can trade your currency as soon as that is available
4. Market Watch Service - Let our dealers monitor the markets for you and keep
you informed on any significant movement specific to your requirements.
World First
World First is the UK's leading currency exchange broker, offering private
individuals & companies the ability to achieve significantly better exchange rates
with exceptional service levels. With headquarters in London and offices in
Australia & New Zealand. World First was the first foreign exchange broker FSA
authorised to offer 'currency options' (hedging strategies).
Locations: UK, New Zealand, Australia
Forward Contracts Regular Payments
Hedging Service
Online Trading
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Join World First mailing list and receive free foreign exchange reports.
Advantages
1. Margin 0.25%-0.7% from spot rate guaranteed
2. Compared with banks, our rates can usually save you between 0.5% and 3% of
the amount transacted ie up to £6000 on a £200000 transfer.
3. We keep you in touch with the status of your transfer and notify you at every
stage of the process.
4. We can offer you forward contracts and other hedging options to protect you
from currency movements and to fix the exchange rate for a transaction up to 2
years in the future.
5. Minimum one-off transfer £1000.
6. Minimum regular transfer £250.
7. No commission and no transfer fees for amounts over £5000.
Disadvantages
1. We will need to undertake an ID / company check as part of the account
opening process for both private and corporate clients respectively.
2. Your bank may charge you to transfer your funds to us, although the saving
you will receive from using us will more than negate this.
3. £15 Fee for transfers less than £5000
Terms and Conditions
Terms And Condition Click Here >>
Additional Services
1. Spot contracts - Buy or sell currency for immediate delivery.
2. Forward contracts - Fix an exchange rate at which you buy or sell currency for
delivery at a later date (up to one year).
3. Hedging strategies - tailored to fit your exposure, currency forecast and risk
level. Enable you to protect yourself from adverse rate movements and benefit
from favourable rate movements.
4. Stop loss orders - Set a minimum level at which you buy or sell your currency.
5. Limit orders - Set a higher target exchange rate at which, if this rate is
achieved, you buy or sell your currency.
6. Daily market updates
7. Rate watch service
8. Overseas mortgages*
*World First does not arrange mortgages. We can put you in contact with a
number of mortgage brokers who can help you find the most competitive product.
The Private Client Team works with individuals who are buying property abroad,
emigrating or making one-off or regular money transfers. Each consultant at
World First works with their clients to make sure they achieve the best exchange
rates possible in the time frame they specify.
The Corporate Team works with companies that either have overseas suppliers to
pay, overseas revenues to repatriate or are investing abroad. Companies are
guaranteed a package of low payment fees and unbeatable exchange rates.
Our staff's expertise and efficiency are renowned within the marketplace and the
incredibly high levels of customer satisfaction we receive during the feedback
process reinforces the World First pledge of a best service guarantee as well as a
"best exchange rate guarantee".
International Foreign Exchange
International Foreign Exchange (IFX) is a leading FSA regulated foreign
exchange specialist providing expert and highly cost-effective currency exchange
and money transfer services, helping its clients reduce the risk from currency
fluctuations. Based in Mayfair, London IFX offers a proactive service working with
clients to achieve the maximum rate of exchange within their timescales.
Locations: UK
Forward Contracts Regular Payments
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Join International Foreign Exchange mailing list and receive free foreign
exchange reports.
Advantages
1. Fixed margin between 0.1%-0.9% depending on size of transaction.
2. Large buyers of currency which enables us to achieve tighter rates from our
bank.
3. One point of contact throughout your transaction process keeping you informed
of market. movements and working with you to achieve the maximum rate within
your timescales.
4. Prepaid currency card available to all IFX customers.
5. Free registration with no obligation to trade.
6. Able to offer no receiving bank charges.
7. All client funds are held in a segregated account with our banking partner
Barclays.
8. Daily market reports available on request.
Disadvantages
1. Longer registration process no non UK residents.
Terms and Conditions
See website for details.
Additional Services
1. Spot Contracts - Allows you to buy currency for immediate delivery
2. Forward Contract - Buy currency at today’s rates for delivery at a future date
protecting you against market fluctuations.
3. Limit Orders - Nominate your target rate and IFX will monitor market
movements over an extended period if necessary and execute the trade once the
desired rate is achieved.
4. Stop Loss - Set a minimum rate you wish to trade at.
5. Prepaid Currency Card - Avoid airport Bureau de Change costs and save on
overseas bank charges.
Currency Solutions
Currency Solutions are a leading foreign exchange specialist, offering vastly
superior rates of exchange to the banks with free registration, free transfers and
free rate monitoring. Currency Solutions offer a high level of personal service by
ensuring that all clients deal with one personal currency broker for all quotes,
advice and transfers. With fast and secure international payments, the process
couldn’t be more simple, saving you the most money and time possible. Currency
Solutions use segregated client accounts, are authorised by the FSA and
regulated by HMRC.
Locations: UK, USA, Australia, Hong Kong, France, South Africa, Cyprus
Forward Contracts Regular Payments
Join Mailing List Currency Converter
Join Currency Solutions mailing list and receive free foreign exchange reports.
Advantages
1) Best bank beating exchange rates for all transfers offering a saving of up to 5
percent compared to a high street bank. That’s up to £5000 on a £100,000
transfer.
2) Free and easy to open a no-obligation account that can be used indefinitely.
3) Personal currency broker for all advice, quotes and trades so you always speak
to the same person.
4) This personal broker can also monitor the moving rates on your behalf alerting
you to when your target rate is achieved to save even more money.
5) Risk protection against currency fluctuations through forward contracts, market
orders and regular payments. An exchange rate can be fixed for up to two years
in advance of a transfer meaning you never have to gamble on your budget for
how much a future payment might cost or miss out on the best rate. You can also
lock into the best exchange rate for regular payments with a standing order so
that you know your exact costs every month and are not at mercy to the moving
rates.
6) No transfer fees on amounts over £10,000
7) Fast and accurate international payments in 3 – 24 hours for all major
currencies.
8) Efficient service with instant confirmation of receipt and payment of funds
9) Total security of funds held in segregated client accounts with RBS. Currency
Solutions are also regulated by HM Revenue & Customs, No. 12162570 and
authorised by the Financial Services Authority, No. 512130
10) Currency Solutions donate £1 to the global children’s charity Global Angels
with every trade that is booked
Disadvantages
1. Minimum volume of £1000 for one off transfers
2. £10 transfer fee for amounts under £10, 000
3. Non-UK residents will be required to provide ID in order to register
Terms and Conditions
Terms and Conditions can be viewed on the Currency Solutions website (For
private clients HERE and for corporate clients HERE
Additional Services
Rate Monitoring – Your personal Currency Solutions broker will be happy to
watch the exchange rates on your behalf and alert you to any spikes in the market
in your favour. Exchange rates can move 5% in a week and 10% in a month so
timing the transaction well can make even more significant savings.
Currency Solutions donate £1 to the global children’s charity Global Angels with
every trade that is booked
Smart Currency Exchange
Smart is the only UK currency exchange that doesn't pay traders any commission.
Smart is therefore able to offer good customer service, avoid a conflict of interest,
and give bank-beating exchange rates to clients. Smart has been in business for
5 years and have gone from strength to strength delivering excellent service,
minimising hassle from money transfers and currency fluctuations; and using
currency strategies that banks won't tell you about to save you even more.
Locations: UK
Forward Contracts Regular Payments
Join Mailing List
Join Smart Currency Exchange mailing list and receive free foreign exchange
reports.
Advantages
1. Save Money – on every international transaction you can save money by
speaking with Smart’s experienced traders. Smart could save you up to 4%
compared to your high street bank. That's £40 on every £1000 transferred or £400
on every £10,000 transferred.
2. Eliminate risks from currency fluctuations – by fixing a rate today for up to a
year, you can make sure that your money won’t lose value from exchange rates
movements.
3. Excellent service – all Smart employees are dedicated to deliver excellent
customer service. Our no commission environment allows everybody at Smart to
deliver service, rather than trying to make money for themselves.
4. Security – Smart is authorized by FSA and regulated by HM Revenue &
Customs. Smart is a member of UK Money Transmitters Association. All funds are
held in client accounts with our banking partner, Bank of Ireland.
5. No fees – Smart doesn't charge any fees on amounts above £3,000 (if below a
fee of £5.00 applies)
6. Fast International Payments – Smart will send your money to any overseas
destination within 48 hours of receiving funds.
7. Free account and use of all our currency accounts – your Smart account is free
of charge and you can use it to receive payments from overseas. Therefore here
is no need to have your own EURO account if you need to receive a EURO
payment.
8. Free no obligation quotations – you can contact Smart and get a quotation any
time. Your bank will not offer you a live rate quotation and usually direct you to
their fixed tourist rate.
Disadvantages
1. You can't use Credit Card to pay for your transaction.
2. We only accept Bank to Bank transfers.
3. No cash transactions.
4. £5.00 on EUR transactions below £3,000
5. £15.00 on USD transactions below £3,000
Terms and Conditions
See website for details.
Additional Services
Spot Contract – buy a currency at today’s rate and pay for it within next two
days. This option is available for all amounts, regular payments and one off
payments.
Forward Contract – buy a currency at today’s rate and pay for it later. This option
is available for larger amounts, regular payments and one off payments.
Rate Watch – your personal trader will watch the market for you and contact you
when the market reaches the desired rate. This option is available only for larger
amounts (+£20,000)
Order To Buy – your personal trader will buy a currency for you as soon as the
market reaches the desired rate. This option is available only for larger amounts
(+£50,000)
Regular Payments – majority of our clients are benefiting from better rates and
make regular transfers. For regular payments such as salary, mortgage and
pension we can fix a rate for up to a year guaranteeing the same amount of
money every month.
