How to Choose a Foreign Exchange Specialist

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Top tips on the best way to pick a foreign exchange specialist and how to determine the legitimate companies from the'cowboys.

  1. Select a business that's at the least 36 months of audited accounts and is financially strong. It is essential that the forex company you decide on includes a good track record.
  2. Ask what professional bodies the business belongs to. The Association of International Property Professionals (AIPP) is the trade body set around protect the interests of property buyers and sellers.
  3. Find out more details about the business by carrying out a quick internet search on the company. Be aware of whether they have won any awards or have already been recommended with a reliable source.
  4. Do not let a foreign exchange company pressurise you into carrying out a deal. Their role is to understand your needs and to give you the data you'll need, not to hard sell and most certainly not to cause you to trade before you are 100% pleased to go ahead.
  5. Ask what charges apply. If you're buy perfectmoney voucher unsure, ask them to confirm in writing. You are able to really cut costs with a well established reputable money exchange company; not only through better currency rates but also consequently of lower transfer charges.
  6. Remember that at present commercial foreign exchange is no FSA regulated industry because it is not considered'Investment Business '. Beneath the Money Laundering Regulations 2003, commercial foreign exchange companies are treated as "Money Service Businesses" which are included in regulations administered by HM Customs Excise.