Moving Your Money

[FX Specialist]

Hi All

I am a newly registered member to the ExpatForum.

I am not, however, new to the world of Foreign Exchange and International Money Transfers.

I would like to stress that this post is not a cheap shot at getting some advertising. I am here to help anyone with any questions about transferring funds internationally. I will never post a link to our company website or details of who I work for.

Subsequently - I will make it simple if you do need my services. PM me with any contact details and we'll go from there.

I live and work in Spain for a UK based FX company for which I am the Country Manager (Spain)

I know the in's and out's of international transfers, how UK and Spanish banks operate (more on that later!) and how other FX companies work.

I can assure you that if you use your bank - you make your first mistake. They are never as competitive.

I can also assure you that what one FX company offers, is generally what we all offer... good rates.

So what seperates them? Service, basically. The level of service the speed of transactions and the time it takes to sign up with them.
There are so many FX companies - I know of about 100 at least in the UK alone.

It is a tough industry - but its one that I love.

You know when you buy a product like... say... a tin opener (dont know why!)and they tell you it does wonderful things, then you open the box and it is actually just a tin-opener. That purchase didnt do anything for you.

When you use an FX company to transfer money, they do exactly what they tell you... Save you money.

Anyway - thats enough from me for now.
If anyone requires help on specific issues, please get in touch!

FX Specialist

[Goldberg]

Hi, which company are you and why would a client choose your company over the other ones in the market? eg. Moneycorp or HIFX or Currencies Direct etc.

[FX Specialist]

Hi Goldberg Global

Theres not much that separates FX providers between themselves (based on the currency rates they offer) the main difference in rates is when compared to banks.

The difference between our company (Axia FX - www dot axiafx dot com)
is the level of service we provide. We don't shout out about beating everyone on price as there are so many others doing that, and in the process of doing so the whole thing becomes very corporate and the personal touch is lost. So we promote ourselves as a FX company that makes the whole process an enjoyable one.

Take a look at our website, and let me know what you think.

I see from your website you have a few logos for FX companies and banks - does your company have any form of relationship with them?

Kind regards

FX Specialist

[Goldberg]

Yes we have relationships with Moneycorp and HIFX. Both give good service.

[Goldberg]

I dont think this is true quoted from your site..

For Partners


Most Foreign Exchange businesses call you Affiliates, which according to the dictionary suggests 'subordinate' and they treat you as such. We at Axia FX much prefer the word 'Partner' as our intention is to work alongside you in providing the tools for you to give any clients the confidence of a professional, safe and well run company and at the same time ensure you make more income.




If we were subordinates we would not work with them.

[FX Specialist]

Hi Goldberg Global,

Thanks for looking at our website, and for the insight.

Though I did not have a hand in writing the text on our website, I can assure you it was not referring to anyone as 'subordinate' however it is suggesting that many FX providers do call - what we call partners - 'affiliates' which the dictionary suggests is 'subordinate'.

It is not a reference in any sense to any individual or company. Instead it is a statement of how we see our partners.

Quote:
Most Foreign Exchange businesses call you Affiliates, which according to the dictionary suggests 'subordinate' and they treat you as such. We at Axia FX much prefer the word 'Partner' as our intention is to work alongside you in providing the tools for you to give any clients the confidence of a professional, safe and well run company and at the same time ensure you make more income.

There is nothing in this paragraph to suggest that you are subordinate - I hope the material on our website has not offended you.

Kindest regards

FX Specialist

[Big Pete]

I Dont know about moving funds being a problem , but i am just about to send some money and typical todays rate is some 1.43 !!!! Euros .

Pathetic isnt it ?

Anybody have any ideas if i should stall a week and if i do will it go up again or down ?

Any money experts have any ideas if its gonna go back up or down ?

[FX Specialist]

Hi there...

GBP has weakened against both USD and EUR. If you're looking to purchase EUR/USD in exchange for GBP do it quick as it will weaken further over the coming months.

It is also apparent that UK house prices are going to fall (some have said that this could be upto 20% over 12 months, however this is speculation)

Nothing can hold it's weight these days as consumer debt in the UK hits £1 Trillion. And to stall this interest rates have remained the same.

However, mark my words, it will get worse and both the EUR/USD will strengthen against GBP.

I would suggest the following points;-

If you need to - buy spot now
If you don't - buy a 'forward contract' to lock a rate for at least 3 months

When buying a forward contract be aware that the decrease in rate is based on forecasted interest rates - not forecasted currency rates.

If anyone needs further or more specific advice, let me know.

Kind regards

FX Specialist

[Big Pete]

Originally Posted by FX Specialist

Hi there...

GBP has weakened against both USD and EUR. If you're looking to purchase EUR/USD in exchange for GBP do it quick as it will weaken further over the coming months.

It is also apparent that UK house prices are going to fall (some have said that this could be upto 20% over 12 months, however this is speculation)

Nothing can hold it's weight these days as consumer debt in the UK hits £1 Trillion. And to stall this interest rates have remained the same.

However, mark my words, it will get worse and both the EUR/USD will strengthen against GBP.

I would suggest the following points;-

If you need to - buy spot now
If you don't - buy a 'forward contract' to lock a rate for at least 3 months

When buying a forward contract be aware that the decrease in rate is based on forecasted interest rates - not forecasted currency rates.

If anyone needs further or more specific advice, let me know.

Kind regards

FX Specialist

Its to low now !

This time of the year it normally goes up ? You reckon its going to drop more ?

[FX Specialist]

I believe so...

I hope it toughens up a little next month, though the signs are that it won't...