Fine Deals for the Essential Forex works

This has meant for the companies a substantial saving in annual costs, as well as in spreads. We are sure that when you finish this article, you will have done with a series of infallible tricks that will help you reduce your foreign exchange costs and improve the results of your company.

Compare prices of forex service providers through real-time exchange rates

Thanks to the power of the internet, today we can compare the prices of banks and brokers from our desk and in a few minutes, without having to call different banks to ask for a budget as it used to be done before. This supposes a great saving of time and, if it is done in an intelligent way, also of capital. Do not believe the claims that claim to offer 0% commissions. Practically in all cases, these fees are hidden in the exchange rate offered: the so-called spread, is easily manipulated by banks and brokers to get paid more than you should pay. Use free real-time exchange rates service, which shows mid-market exchange rates (inter-bank) in real time. How does this benefit you? In that you can see the exact difference between the mid-market exchange rate and the exchange rates that you budget, therefore, you can make the best decision in financial terms, cut costs and, thus, improve the results of your company. At discover the best deals available now.

Stick to the most common currencies and avoid exotic ones

Exotic currencies, such as the Mexican peso or the dollar, which are freely traded, have lower liquidity and higher spreads. Try to always stay among the most traded currencies: the US dollar, the euro, the pound sterling, the yen and the dollar. The US dollar and the euro account for 55% of all foreign exchange operations, as seen in our infographic on the foreign exchange market. The higher is the volume of the operation, the lower the spreads. Also, these currencies offer much greater liquidity and are more easily available.

Find suppliers that use technologies and offer more efficient services

The foreign exchange sector is changing thanks to the companies that offer powerful platforms, unlike the traditional currency sector, so that companies can perform all online transactions. Access to real-time mid-market exchange rates , shorter management time and savings in working time, the possibility of closing operations at much longer hours than treasury tables, access to foreign currency exchange, peer-to- peer , which eliminates spreadsand allows your company to save large sums of money throughout the year, are some of the main advantages. Consider getting into the car that is increasing an increasing number of SMEs and large companies that decide to take advantage of the advantages offered by sector suppliers (financial services companies that use technology).

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