Why Partnering with G FOREX Can Benefit Your Business

Complexity of Foreign Exchange

Since the onset of COVID-19, we have had a rising number of queries for Trade Finance and subsequently Foreign Exchange (FX) services.

FX is often regarded as a “dark art.” It’s highly complicated, requiring constant knowledge of money markets to ensure everything is managed appropriately, in a timely manner and correctly. With this, we have partnered with Graham Nicholson of G FOREX in Newcastle.

Graham has been a Forex Trader for 30 years and brings vast experience and support to us as a business and our clients.

Forex is a challenging market and having an eye on the ground resource is important to us, you as our introducers and our client base.

Why work with an FX partner?

Working with an experienced FX partner like G FOREX offers several benefits

1. Do your clients import or export?
2. Do they hold foreign currency accounts?
3. Do they pay suppliers internationally or get paid internationally?
4. Are they uncertain of the complexity of trading FX?

If your clients rely on the same old resources for FX without fully understanding the intricacies, they might be missing out on significant savings and opportunities. Having a local expert like Graham Nicholson can ensure they are handling their FX transactions correctly and making informed decisions.

Giving Clients the Opportunity to mitigate Foreign Exchange Risks

The foreign exchange world is thwarted with volatile swings, in a £4 trillion a day market FX rates can fluctuate daily over 1%, sometimes more – FX can be a minefield.

Working with an experienced FX trader and giving customers access to Forward Foreign Exchange contracts, gives clients the opportunity to take more control of their FX needs, lock FX rates in advance and mitigate their risks, protecting their balance sheets – a great advantage to companies.

A major announcement for G FOREX in September is the FCA have issued them an Electronic Money Institution (EMI) License enabling all of their clients to hold accounts in their own company names with their very own individual IBAN numbers in each currency. Clients can also hold deposits with G FOREX, facilitating faster money transfers and enabling G FOREX to act like a High Street Bank.

Additionally, G FOREX offers a free WhatsApp FX service, providing real-time updates on currency movements. This instant access to information allows clients to make better-informed decisions, optimising the timing of their currency conversions and saving valuable time and money.

Real-World Impact: A Client Success Story

To illustrate the value of G Forex’s services, consider a recent example. G FOREX helped a client with the sale of their villa in Spain. The Bank in Spain (Caixa) was charging a circa 4% margin on the conversion of €2 million to GBP, amounting to a staggering €80,000 in fees. By using G FOREX’s services, the client was able to reduce these costs by at least a third, saving them a substantial amount of money.

In a world where foreign exchange rates can change rapidly and unpredictably, having a knowledgeable and experienced partner is invaluable. G FOREX not only provides expertise and support but also offers tools and services that can significantly benefit your clients. Whether it’s reducing conversion costs, locking in favourable rates, or providing timely market updates, partnering with G FOREX can help businesses navigate the complexities of the FX market with confidence.