England – 16/12/2011– In years gone by it was only international businesses the needed a currency broker now the man in the street uses them too
Not so long ago if you needed the services of a currency broker the chances were you were a business that either bought raw materials from abroad or sold your products internationally. This meant that you either having to pay bills that were in a foreign currency or receiving large sums of money in a foreign currency. In both situations using the services of a currency broker was a sure fired way of getting the best exchange rate and paying lower fees.
In recent years the customer base of your average currency broker has grown and much of that growth has come from the non-business sector. In other words members of the general public, who for reasons other than business need regular access to a foreign currency.
Foreign homeowners are choosing to use a currency broker
The range of non-business owners using the services of a currency broker is also not quite as obvious as you would expect. Foreign property owners make up the bulk of them, but more and more people who are only planning to buy a property and still looking for one are changing up large sums of money. They are exchanging their money at a point where the exchange rate is currently good, but is likely to move against them. This is especially true of people looking to buy in Europe. They know that property prices are coming down in Europe, so want to wait a while before buying. However, they also worried that the Euro exchange rate will move against them, so are changing a large chunk of their savings into Euros now rather than waiting and risking getting less Euros to the pound.
Foreign Currency UK has positioned themselves to take advantage of this new market. They have re-written their website to be less technical in an effort to explain to the layman how their currency exchange products work. By simplifying their products they have increased their market share.
FC Exchange Limited
88 Wood Street, 10th Floor,
Zip: EC2V 7RS
Tel: +44 (0)20 7989 0000
Fax: +44 (0)20 7989 9999