Personal Case Studies
Buy your currency immediately at a great exchange rate
Mr and Mrs Johnson recently sold their farm house in the Charentes region in France. The property sold for EUR 340,000. Mr Johnson wanted as many Pounds per Euro back as possible as he was selling the single currency. He was offered an exchange rate of 1.2111 by his high street bank. Using FC Exchange, the Johnson's were able to secure an exchange rate of 1.1884, netting them an extra £5362.44.
Secure an exchange rate now and pay later
Frank Williamson purchased a new build beach property in Portugal for EUR 230,000. The completion of the property was delayed for 2 months. Frank, realising that the Euro exchange rate was at its best levels for several months, entered into a Forward Contract to buy EUR 230,000 at an exchange rate of 1.1948. Months later the Euro exchange rate had fallen to 1.1712 but Frank had secured his Euros at 1.1948, and fixed the cost of his property, saving him £3878.94.
Hassle-free regular payment services at a great exchange rate
Dr. Susan Phillips makes regular monthly transfers to her account in Cyprus to service the mortgage repayments on her holiday villa. Using her high street bank to make the transfers she encountered the problem of poor rates of exchange and high transfer charges as well as long delays, up to 10 days, in her money arriving in Cyprus. Using FC Exchange, Dr Phillips has taken all of the hassle out of the process. Her funds are transferred to FC Exchange by standing order. As soon as they arrive every month they are exchanged at a great rate and sent to Cyprus immediately, arriving safely, quickly and saving her approximately £850 per year.
Stop Loss Order
Guarantee a minimum exchange rate
James Hayes is importing a classic car from America. The car costs USD 29,000. The current GBP / USD exchange rate is 1.54. James knows that at this rate his car will cost him £18,831.17, but he thinks that the exchange rate is going to move in his favour. He wants to limit the cost of the car to £19,000 and also have the flexibility to see if the exchange rate gets better, confirming his hunch. He instructs FC Exchange to put in a stop loss order to buy USD 29,000 at an exchange rate of 1.5263. If he is right about the USD weakening he will get a better exchange rate and his car will be cheaper, but if he gets it wrong and the exchange rate falls, his currency will automatically be purchased at a rate of 1.5263, limiting his cost to £19,000.
Buy currency when it's reached your stipulated rate
David would like to send EUR20,000 to his bank account is Spain. He has seen that the Euro is currently trading at an exchange rate of 1.50 and he is in no hurry to make the transfer as he would like to achieve an exchange rate of 1.52.
He instructs FC Exchange to put in a limit order to purchase EUR20,000 when the exchange rate reaches 1.52. If the exchange rate spikes to a rate of 1.52, David would have achieved his target and his Euros will be purchased at his desired exchange rate.