Corporate Clients - Foreign Exchange Brokers
Please see a comparison of some of the top Canadian Currency Exchange brokerage firms below offering services to corporate clients. These foreign exchange firms are experts in the field of foreign currency and can offer excellent exchange rates as well as a professional service. No matter what the size of your business or where you want to send money currency exchange specialists can maximise the value of your overseas money transfer. Whatever your exchange requirements, foreign exchange brokers have the service available to suit you and your business. It is really important that you take the time to find the foreign exchange broker that can work best for you.
The rates currency exchange brokers offer are far superior to those offered at regular banks and financial institutions. This is due to their high volume of international currency trade and low overheads. In addition, foreign exchange brokers provide a specialist service in dealing with foreign currency while most banks offer a wider range of products and services. Whatever your currency exchange needs you will be able to find a service that is tailor made to suit you and your business. They can add value to your corporation by getting you more for your money thanks to excellent exchange rates. The exchange rates will change daily so keep checking them to help you get the most for your money.
There are many currency options, services and products available to you that can protect your business against currency fluctuations. With some of their service you can fix exchange rates and protect your funds. One of the best ways to ensure you are protected from volatility in the currency markets is to hedge your risk and there are a variety of hedging options available to you. Foreign exchange brokers will discuss your business's requirements as soon as you open your corporate account, and will tailor the service to your company's size and capabilities. You can get the best exchange rate and save time and money with the right foreign exchange broker.
The foreign exchange firms listed below are best used for large international currency transfers of around $3,000 and above. Most foreign exchange brokers will be able to carry out the transfer without any additional fees or commission. For smaller transfers they may charge a flat fee (usually around $10). You might want to consider using a Money Transfer Services for smaller transfers (see the Money Transfer area).
Compare Corporate Foreign Exchange Brokers
If your company is looking to make international payments outside Canada then you would be wise to look into Corporate Foreign Exchange.
Why Corporate Foreign Exchange for Money Transfer?
No matter how much money you are looking to transfer overseas a corporate foreign exchange specialist is likely to be able to provide you with the best value for money.
Most Corporate foreign exchange specialists should offer you and your company a personalised service where they will try and understand the nature of your business so that they can help you in the most functional way with any international money transfers you need to make.
Minimise international money transfer risk and get the best exchange rates
A Corporate Foreign Exchange broker can help you minimise risk on your international payments so that you can be confident in getting the best foreign exchange rates at the best price with ample security.
Whatever foreign exchange specialist you decide to use for your foreign exchange needs they should help you in figuring out a plan which understands your exposures, processes and cash management requirements.
Foreign Exchange broker international money transfer services
A good foreign exchange broker should also complete an assessment of your company in order to work out which products and services are most suited to your foreign exchange needs. They will also carry out a thorough risk assessment process.
Forward contracts mean that you take delivery of your forward currency on a specific date in the future. This means that you do not have to worry about currency fluctuations as much in the future.
Some foreign exchange companies provide foreign currency drafts for business customers who are looking for a fast settlement option with high security where payments can be traced from issue to deposit. Foreign currency drafts are issued from local in-country accounts to avoid foreign cashing fees.
Why are banks more expensive?
Banks are not able to offer competitive exchange rates because they have such high overheads. Although, like foreign exchange specialists, they will receive the Interbank rate, they will take a large margin out of this before they pass on the rate to their customers. This results in a much poorer rate for you the customer. If you are using banks for the majority of your business currency exchange needs then you should look into other options. Watch out for any commission fees and other administration charges too.
Foreign exchange brokers are specialists and only focus on this one area of finance. They have relatively small overheads compared to banks; as a result the margin they take from the Interbank rate will be much lower – meaning they can pass more of a great rate on to their customers. Each foreign exchange specialist company will dedicated a specialist expert dealer to their customer accounts who you can contact via the telephone or email.
If you are in any doubt over what service you should use, seek independent financial advice. You must ensure that you do your research properly and always reads the terms and conditions associated with their services.
24 April 2013
Finding the best exchange rates can be very important when sending money abroad, especially when dealing with a high sum. This could be, for example, the payment for a property one has purchased or for setting up regular money transfer
23 October 2012
Which Way to Pay Canada
Thousands of Canadians need to send and receive money from all over the world on a regular basis. There is a variety of ways of doing this, so let us find out which is the best for low cost, high excellence and fast speeds.
02 June 2011
Which Way To Pay
Exchanging your money at the airport will always be a bad idea, find better deals elsewhere.
04 April 2011
Which Way To Pay
Getting the best foreign exchange rates is vital when sending money to an overseas bank account – which is why it is important to know where to get them from! Many people automatically go downtown to their regular bank, but this is by no means the most cost-effective way to go!