Foreign Exchange Solutions

Save up to 5% on your money transfers

Knightsbridge Place, affiliated with the UK’s largest fx trader, provides you with a hassle free, cost effective service for transferring currencies. We offer an innovative foreign exchange service, which allows you to trade in all major world currencies, wherever you are in the world.

The service is perfect for those making transfers either on a regular basis, such as converting your salary to your home currency, or for clients who have a large one off transaction to make, such as a purchase of a property.

We also guarantee that we can beat any like for like quote, all you need to do is ‘print screen’ the rate that the bank offered you, and we will beat it.

We provide individual investors and companies access to a bespoke currency service focused on maximising returns on the international market.

The service is simple and cost effective, offering the most competitive currency exchange rates as well as regular market updates. All our transactions are fast, reliable and efficiently executed.

The key benefits of using our services include:

Exchange Rates

Up to 5% better than those offered by major banks.

Forward Contracts

That let you fix your exchange rate for future transactions (ideal if you are buying or selling currency for a property).

Proactive Advice

On hedging and risk management by a dedicated trader who can explain your options, and help you obtain the best available exchange rates.

Market Incite & Updates

Giving you professional advice and opinions on current market trends

Here are some examples of why you might use this service:

Overseas Property

To help demonstrate how important using a foreign exchange services is, let’s use an example that is easily relatable.

If you are considering purchasing a property overseas, it’s important to consider currency fluctuations.

You may already know the exact purchase price of your property, but are unsure of the date of completion, or when is the best time to transfer the funds. This means that you may now have a significant currency risk.

Case Study – Mr Smith

In 2016, Mr Smith had decided he wanted to buy a property in Europe, but all of his savings were in GBP. He knew that the purchase price was 250,000 Euros, and he also expected to pay the full amount towards the end of the year. He spoke to us at Knightsbridge Place and explained his current circumstances. Mr Smith stated that he was worried that any adverse currency fluctuations may make the property unaffordable.

After a consultation, and a review of the current market conditions, we advised that Mr Smith should ‘lock in’ a rate, which he is happy with, and mitigate the currency risk in the future. So, on May 24th 2016, Mr Smith confirmed he would like to buy 250,000 Euros at a rate of 1.31228 Euros/GBP, which cost him £190,508. This figure was affordable to Mr Smith, and the rate was locked in for up to one year. For him to do this, he was only required to pay a 10% deposit to secure the rate.

This proved to be valuable advice because if Mr Smith had decided to wait until completion to transfer the funds, then the rates would have been significantly worse, due the UK voting to leave the EU.

The completion date for the property was November 1st 2016, and that same 250,000 Euros would now have cost Mr Smith £225,882, which is £35,374 more, or 18.6% more expensive. This option would have been too expensive for him to go ahead, and would have resulted in him not purchasing the property, as well as incurring solicitors and buyers fees.

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Corporate Services

When it comes to international money transfers for business purposes, the exchange rate you receive and the charges you pay will make a big difference to your bottom line. This is the case whether you need to make regular payments or are looking for the best way to organise a one-off business money transfer.

Additionally, if you are buying and selling products or services in different currencies, using a foreign exchange service can significantly decrease your costs. If for example you normally send a lump sum to pay for a product, and rely on the bank to transfer the currency on your behalf, it’s likely you will be given a rate that pays a high commission to the bank, and you cannot control the rate. If you use a professional service, not only can you dictate the rate you wish to buy or sell at, you can also ensure you are cutting out the banks high commission, meaning your transaction will become more efficient.

Lastly, adverse currency exchange fluctuations can stack up and prove an unnecessary headache for most finance departments, slowing down your business growth prospects. We work with CFO’s and Accountants to optimise your company to develop a currency strategy to protect your margins, balance sheet and bottom line. We can ensure your business adopts a risk based approach to international trades.

 

Converting Salaries and Pensions

If a company pays a fixed salary every month, but the amount derives from another currency, a foreign exchange service can benefit. For example, if ABC Co. Ltd deals mainly in USD, but always pays their staff a fixed amount in GBP, then each month the company will normally have to rely upon a bank to make the conversion from USD to GBP. By using an FX service, the company can not only lock in rates for the year, but also get a better rate than the bank, saving up to 5%. Alternatively, if the employees are paid a set amount of USD, but the money is paid in GBP, by using an FX service, the employees would see a benefit because that same amount of USD will now buy more GBP due to a better exchange rate.

A 9-year track record you can trust