When trading with Sterling Exchange there
is no cost or obligation to use us. We offer free accounts, no commission
charges and will even pay for the transfer of your currency. In addition to this
we provide a level of service that is unsurpassed in the industry.
When making an overseas purchase, currency
exchange may not be the first thing on your list. It can be equally as important
as the purchase price though, as the exchange rate has a direct and noticeable
impact on your bank balance.
For example:
A property costing 250,000 Euros, purchased on the 24 June would have cost
£165,175. However the same 250,000 Euros purchased on the 21 July, less than one
month later would have cost £174,775. A difference of £9,600.
The extraordinary increase in price is due to movements in
the foreign exchange market, a highly complex system of banks and trading
companies working continually to speculate on, and control, our global economy.
Although you have no control over this market our
dedicated team of brokers, analysts and support staff are working non stop to
ensure that you are aware of its movements while offering you the products and
services that will save you both time and money. For more information on the
services and products we offer please select from the menu opposite.
Trade for free
When trading with Sterling Exchange there is no cost or obligation to use us. We
offer free accounts, no commission charges and will even pay for the transfer of
your currency. In addition to this we provide a level of service that is
unsurpassed in the industry.
Dedicated currency planners
Upon registering with Sterling Exchange, you will be assigned a dedicated
currency planner (D.C.P). He or she will be able to discuss your requirements in
detail and advise on the products and services we can offer you to save you time
and money. All of our staff are very experienced and your particular currency
planner will have an intricate knowledge of the area in which you are dealing.
You will speak directly to your planner and will therefore always receive a
tailor made efficient service.
Limit Orders
Limit orders can be used to buy a foreign currency at an exchange rate that is
not presently on offer. If you feel that the current market trend is in your
favour but don't want to watch the market, leave us with an order and we will be
happy to execute it on your behalf. We will be able to guide you to what is a
reasonable rate. Also, if you are worried that the rate may drop, thus making
your currency more expensive, you can use a 'stop loss'. This enables you set a
minimum or the lowest rate that you wish to trade at. By using a 'stop loss' you
will protect yourself against adverse market movements and avoid spending more
than you planned.
24 hour 7 day Client services
In order to improve customer care, we offer a client services department that
remains open 24 hours a day, 7 days a week. Staffed by our senior currency
planners, the department is always on hand to offer information on the market,
account opening facilities and any other queries. Please use the general
telephone number for all communications.
Working links
Our continued commitments in dealing with our clients and their requirements
have led us to forge strong links with the people and companies who can really
help. These include European banking partners, recommended property developers,
and specialist vehicle importers as well as maintaining excellent working
relationships with everyone within these industries. Some of the benefits
offered include account opening facilities in Europe, funds delivered free of
receipt charge, free transfers and tracking of client funds.
Foreign bank account facilities
Sterling Exchange offer the facility to open a bank account in your chosen
country from our UK office. This service is free of charge and your new account
can be ready to receive your funds in seven ways. We have also negotiated that
transfers sent from your Sterling Exchange account will be free of all receipt
fees. This, coupled with our free exchange service, means we can transfer your
money into your new bank account completely free of charge.
Every time you carry out a foreign
exchange trade you enter into a contract. The length of time over which the deal
is done denotes the type of contract. The two types are spot contracts and
forward contracts.
Spot Contracts
This is the simplest and quickest form of foreign exchange contract.
It is an agreement to buy or sell one currency in exchange for another. You then
pay for the currency at the rate agreed with in the given time and we will then
transfer the purchased currency to any bank account of your choice.
Forward Contracts
A Forward Contract allows you to agree a trade for payment on a particular date
in the future (the maturity date). Unlike spot contracts, a forward contract
eliminates the risk of fluctuating exchange rates by locking in a price today
for a transaction that will take place in the future. We are able to agree
trades from one week to two years ahead.
Requirements of a forward contract are a deposit payable immediately and the
remaining balance upon the maturity date. As with a spot trade we will then
transfer your funds to any bank account of your choice on the same day.
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