Articles, comment and features from the world of FX and international payments
Wednesday, 10 February 2016
How the FOREX market makes excessive profits from the corporate sector preferring the Satus Quo
How the FOREX market makes excessive profits from the corporate sector
Companies all over the world are paying through
the nose for FX...smaller firms especially but large firms too.
When I talk to clients about making major savings on their FX flows, I am constantly amazed at how the majority will always prefer to just stay doing things the way they always have done.
I am stunned that CEOs, CFOs, Finance Directors and other senior managers are not interested in reducing their costs associated with processing FX transactions....even when the savings run into the hundreds and thousands of pounds/dollars etc.
It is precisely this resistance to change, that allows the FOREX market, banks and non-banks alike, to continue to exploit the corporate sector.
I set up my business (www.betterfx.co.uk) to offer help to clients in a way that no one else is doing.
betterFX only makes money by saving companies money. It works like this; betterFX saves a company £50,000, and charges just 10%, meaning the client retains 90% of the savings found.
That is equivalent to getting £10 back for every £1 spent.
If a 1000% return on an investment is not attractive, then I don't know what is !