Is now a good time to buy euros and sell pounds?

Probably.

Today, the Pound to euro rate has risen to just under 1.20.

With the financial turmoil in Europe, the euro and pound rates are fluctuating wildly. Today is a good day, if you have pounds and you need to buy euros.

This could even be a good time to buy euros, even if you don’t need them until January, February, or any month next year. We have a way for you to take advantage of the current exchange rate by just placing a 10% deposit. All you need to do after you’ve fixed today’s rate and placed a deposit, is pay the 90% balance on the agreed date next year.

We will keep to the agreed rate today, even if the rate has dropped substantially.

This is called a forward contract. Many businesses use this for good reason. But it’s just as good for private clients.

For example:

• You are looking to exchange £20,000 into euros.
• The rate offered may be 1.19 euros to a Pound. If this is the case, you would get €23,800.
• However, if the rate drops to 1.10 in January, when you may have to buy your euros. You would get just €22,000.
• This represents a real loss of €1,800 when all you had to do was place just £2,000 down as a deposit and fix the rate at 1.19.

Please call us on 01480 458400 to discuss this option.

This example does not constitute an offer.

Global Currency Exchange Network are a registered Money Services Business.

For a business to safely make currency transfers for clients, they need to be registered as a Money Services Business with the UK Revenue & Customs.

HMRC explain that: “Businesses that exchange currency, transmit money or cash cheques for their customers are known as ‘Money Service Businesses’. Money Laundering Regulations require most Money Service Businesses to register with HM Revenue & Customs (HMRC).”

What is a Money Service Business?

The term Money Service Business has a special meaning under the Money Laundering Regulations 2007, which came into force on 15 December 2007. Under the regulations, a business is a Money Service Business if it does one or more of the following:

• acts as a bureau de change – even if this is on a ship that isn’t always in UK territorial waters
• transmits money, or any representation of money, in any way (just collecting and delivering money as a ‘cash courier’ isn’t transmitting money)
• cashes cheques that are payable to customers

HMRC also state: “HMRC is the supervisory body for most Money Service Businesses under the Money Laundering Regulations. If you run a Money Service Business it’s your responsibility to register with HMRC unless you’re already supervised by the Financial Services Authority (FSA) for the purposes of the Money Laundering Regulations. You mustn’t act as a Money Service Business until you’re either registered with HMRC or supervised by the FSA.”

Reassuringly, Global Currency exchange network are registered with the FSA and HMRC.

Our Currency Exchange service provider, gcen, is Regulated by the Financial Services Authority ( FSA ) under number 504346

Read more on Security and Regulations here

Foreign currency exchanges from £20,000 upwards (or currency equivalent).

We welcome all fx clients with a need to make a currency exchange. We can offer commercial currency exchange rates for amounts from £20,000 to many £millions.

For smaller amounts, please visit our home page.

If you have a large amount of currency to exchange, we will offer you our commercial currency exchange rates. We buy our currencies from our Treasury provider, Barclays Bank. We then sell that currency at considerably better exchange rates than High Street banks.

We have a simple online registration facility. Once registered, you can buy your currency online, or contact one of our dealers. You will normally have been allocated your personal dealer when you get registered.

For business clients, we allocate you a personal dealer, who will regularly track your chosen currency pairs and will inform you when the rates are especially favourable, or when your limit order has been reached.

By using our simple foreign exchange service, you will save a great deal of money.

• MOST IMPORTANT. Not all exchange rates offered by banks and currency brokers are the same. Typically, our exchange rates are much more competitive than those offered by the high street banks. You can easily save £225 just on the exchange rate, when transferring £20,000.
• We don’t charge commission, unlike the banks. You can save £100 here
• We don’t charge to transfer your money abroad, unlike the banks. The normal saving here is about £25.00
• We have special arrangements in some countries where you won’t pay your local bank to receive the money. Most banks abroad charge 1% of the amount that arrives in your account. On a transfer of £20,000, you can save £200.
• Overall, your saving on a £20,000 exchange, could be in the region of £550.

Got a question? Please CONTACT US, or call our UK Head Office on 01480 458400, when dialling from abroad, 0044 1480 458400.

Buying and selling foreign exchange is made very simple when you use us. Discover how it all works here.

Open a free foreign exchange account here

Foreign currency exchanges from £4,000 (or currency equivalent) to £20,000.

We welcome all fx clients with a need to make a currency exchange of more than £250 in value. However, we can offer more competitive currency exchange rates for amounts up to £20,000.

We have a simple online registration facility. Once registered, you can buy your currency online, or contact one of our dealers. You will normally have been allocated your personal dealer when you are registered.

By using our simple foreign exchange service, you will save a great deal of money.

• MOST IMPORTANT. Not all exchange rates offered by banks and currency brokers are the same. Typically, our exchange rates are much more competitive than those offered by the high street banks. You can easily save £225 just on the exchange rate, when transferring £20,000.
• We don’t charge commission, unlike the banks. You can save £100 here
• We don’t charge to transfer your money abroad, unlike the banks. The normal saving here is about £25.00
• We have special arrangements in some countries where you won’t pay your local bank to receive the money. Most banks abroad charge 1% of the amount that arrives in your account. On a transfer of £20,000, you can save £200.
• Overall, your saving on a £20,000 exchange, could be in the region of £550.

Got a question? Please CONTACT US, or call our UK Head Office on 01480 458400, when dialling from abroad, 0044 1480 458400.

Buying and selling foreign exchange is made very simple when you use us. Discover how it all works here.

Open a free foreign exchange account here

Foreign currency exchanges from £250 (or currency equivalent) to £4,000.

We welcome all fx clients with a need to make a currency exchange  of more than £250 in value.

We have a simple online registration facility. Once registered, you can buy your currency online, or contact one of our dealers. You will normally have been allocated your personal dealer when you are registered.

By using our simple foreign exchange service, you will save a great deal of money.

• On a £4,000 exchange & International transfer, you can save in the region of £140
• We don’t charge commission, unlike the banks. You can save £25 here
• We don’t charge to transfer your money abroad, unlike the banks. The normal saving here is about £25.00
• We have special arrangements in some countries where you won’t pay your local bank to receive the money. Most banks abroad charge 1% of the amount that arrives in your account. On a transfer of £4,000, you can save £40.
• MOST IMPORTANT. Not all exchange rates offered are the same. Typically, our exchange rates are much more competitive than those offered by the high street banks. You can easily save another £50 just on the exchange rate, when transferring £4,000.

Got a question? Please CONTACT US, or call our UK Head Office on 01480 458400, when dialling from abroad, 0044 1480 458400.

Buying and selling foreign exchange is made very simple when you use us. Discover how it all works here.

Open a free foreign exchange account here

How does it all work? Buying and sell currency is a very simple process with fx-foreignexchange.

Many banks make currency exchange look complicated. If you wish to buy a particular currency, the best place to start is with a foreign exchange broker.

We agree to buy such large amounts from our Treasury bank, that we can afford to sell those currencies much cheaper than most other fx businesses. Currency exchange is all we do so you can be assured of getting the very best rates.

The process is simple:

1. Open an account. It’s free and you are not obliged to use it if you don’t wish to use our services
2. Advise us of the currencies that you wish to sell, and buy (We will let you have the very best exchange rate at that time)
3. If you wish to go ahead, we can buy the currency on your behalf at the agreed exchange rate
4. You then send us the amount of currency that you are selling. (We have secure accounts for our client funds.)
5. When we receive the money, we change it at the agreed rate and forward the “new” currency to whichever bank account you have requested us to send it to. (There’s no charge for our international transfers, unlike the High Street banks)
6. That’s it!

Is it Safe? We are registered with the following:

• UK Financial Services Authority ( FSA ) under licence number 504346, Global Currency Exchange Network
• HM Revenue and Customs in the UK, under Money Service Business
• Barclays Bank PLC, who are the treasury providers for this business.

All you need to do is complete this form, accept our terms and conditions, and send us 2 forms of ID. Usually, the ID is a copy of your Passport, and your driving licence or a utility bill from the last 3 months. If you don’t have these, contact us anyway and we will advise what is acceptable.
Got a question? Call us on 0044 (0) 1480 458400.

cforms contact form by delicious:days

Limit Orders currency contracts allow a client to set the rate at that which they would like to exchange their currency.

Global Currency Exchange Network will monitor the market for you and if the rate can be achieved, we will purchase the currency on your behalf. We would then notify you of the due date for your payment. This is particularly important for contracts of substantial value where a small currency fluctuation may have huge implications.

Repeat business is very important to us, so we are happy to monitor the particluar currencies that you’re interested in. We have the alert systems to advise us when a particular rate is close, and it’s very easy for us to let you know when this happens.

All you have to do is to fill in the RATE WATCH FORM at the bottom of the page. We’ll do the rest.

Live currency exchange rates are shown in the table below. They are updated every 12 minutes and display the mid rate between the buy and sell rates. If you would like a quote for the best foreign currency exchange rates today when buying a time option forward currency contract, please contact us. Global Currency Exchange Network: No commission and No transfer fees.

Is it safe?: Security & regulations information. Make Transfers: OPEN A CURRENCY EXCHANGE ACCOUNT HERE

Currencies - Cross Rates

More useful articles…

• Is now a good time to buy euros, sell pounds?
• Money Services Business
• Find a global currency exchange broker for the best exchange rates
• How to open a foreign currency exchange account
• Smaller Foreign Exchange Trades

You may reserve a time-option forward contract. This contract allows greater flexibility in paying and could save you a lot of money if the exchange rate drops before you need to send the money overseas.

For example, a property developer may give you a date of February 2012 as an approximate completion date but may tell you it could take a bit longer. Your currency dealer is likely to recommend that you set a date for your time option forward contract of May 2012.

This means that you can buy your currency, at today’s rates, with just 10% deposit. You can then settle the currency contract anytime before the maturity date  (This example: May 2012), with no penalty. If the house is built earlier than expected, all you have to do is send us the other 90% of the money, and we will change it at the rate that was agreed, then send it onto wherever you ask us to.

Live currency exchange rates are shown in the table below. They are updated every 12 minutes and display the mid rate between the buy and sell rates. If you would like a quote for the best foreign currency exchange rates today when buying a time option forward currency contract, please contact us. Global Currency Exchange Network: No commission and No transfer fees.

Is it safe?: Security & regulations information. Make Transfers: OPEN A CURRENCY EXCHANGE ACCOUNT HERE

Currencies - Cross Rates

More useful articles…

• Is now a good time to buy euros, sell pounds?
• Money Services Business
• Find a global currency exchange broker for the best exchange rates
• How to open a foreign currency exchange account
• Smaller Foreign Exchange Trades

A forward currency contract is undertaken when you fix the exchange rate now, for completion of a currency deal at a specific date in the future, from 1 to 24 months in the future.

As an example, your final payment for a home abroad may be the equivalent of £100,000.

You could fix that currency exchange rate today with a small deposit, and pay for the bulk of that transaction at the completion of the forward currency contract. To guarantee the exchange rate, private clients will have to pay a 10% deposit, and the balance on or before the date when the Forward Currency Contract expires.

This type of deal is perfect for businesses who would like to order goods abroad, and fix the price at the rate today in case the exchange rate varies in the wrong direction and the goods then become more expensive.
You may also reserve a time-option forward contract. This currency contract allows greater flexibility in paying before the end of the contract date, and could save you a lot of money if the exchange rate drops before you need to send the money overseas.

By opting for a Forward Currency Contract at today’s rates, you are buying yourself comfort. You can place a 10% deposit down, having agreed a rate of exchange for your money to be exchanged for you at a fixed date ahead. Once you’ve done this, you can get on with other matters rather than constantly worry about whether you will have to pay more for your goods, or house, if the exchange rates are worse for you when you need to make the currency exchange.

Live currency exchange rates are shown in the table below. They are updated every 12 minutes and display the mid rate between the buy and sell rates. If you would like a quote for the best foreign currency exchange rates today when buying a time option forward currency contract, please contact us. Global Currency Exchange Network: No commission and No transfer fees.

Is it safe?: Security & regulations information. Make Transfers: OPEN A CURRENCY EXCHANGE ACCOUNT HERE

Currencies - Cross Rates

More useful articles…

• Is now a good time to buy euros, sell pounds?
• Money Services Business
• Find a global currency exchange broker for the best exchange rates
• How to open a foreign currency exchange account
• Smaller Foreign Exchange Trades

A spot contract is undertaken when you buy currency at the prevailing exchange rate at the time of the transaction and make payment within two working days. This type of currency transaction is typically used for deposit payments on property or for full payment if the funds to pay for the transaction are available.

Live currency exchange rates are shown in the table below. They are updated every 12 minutes and display the mid rate between the buy and sell rates. If you would like a quote for the best foreign currency exchange rates today when buying a time option forward currency contract, please contact us. Global Currency Exchange Network: No commission and No transfer fees.

Is it safe?: Security & regulations information. Make Transfers: OPEN A CURRENCY EXCHANGE ACCOUNT HERE

Currencies - Cross Rates

More useful articles…

• Is now a good time to buy euros, sell pounds?
• Money Services Business
• Find a global currency exchange broker for the best exchange rates
• How to open a foreign currency exchange account
• Smaller Foreign Exchange Trades