#FX

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The latest insights, views and industry developments from Prime Cap focusing on private client foreign exchange, corporate transaction services and international payment strategy.

4 reasons why you should pay your mortgage through an FX broker.

Unsure why, other than surmising that people don’t really understand the breadth of work the deliverable FX sector is capable of handling, one of the most common assumptions made is that firms like Prime Cap only deal with 'sizeable' currency conversions. Not so! It is certainly true to say that the benefits of the improved spread/rate we offer are more clearly evident on big(ger) conversions because 3% of £100,000 is numerically greater than 3% of £1000, but, that does not m

Making a decision about when to transact: 3 things to consider.

It goes without saying that someone who is exchanging one currency for another wants to get the most money they can or exchange as small amount as they can to get the best in exchange. That is the nature of the game. Using a specialist is the best way to improve the margin at which you can exchange, but, it might be worth thinking about some other contributing factors which on closer inspection serve as equally worthy considerations when assessing 'when' you should buy or se

A quick guide to using a currency company.

When you look on your internet banking you will probably notice some sort of tab for 'international payments'. Clicking on this will generally take you through to a page where you input the IBAN or BIC (International bank account number and Bank Identification Code, respectively) which tells your bank which country you want to send to and which currency you want your sterling converted to. When we did this with our own bank (one of our brokers logged in to his internet bankin

An analysis of the Sterling (GBP) to Euro (EUR) rate of exchange.

Rather than burrowing in to all of the minutiae of economic theory and opinion on how the current state of both the UK and the European economies are playing out and will continue to play out for these major global currencies over the course of the year to come, we thought we'd outline our observations as to the seasonal, anecdotal changes that animate this currency pair. One of the overriding concerns of businesses and individuals holding sterling and needing to pay someone

What is the difference between 'dealing by phone' & 'transacting online'?

Some clients see the differences between these two methods of broker engagement as being like analogue vs. digital, old vs. new, telephone vs. carrier pigeon...and yet, given the way some of the brokers in London operate you'd get a faster response if you did use 'Speckled Jim' to issue your instructions. What do we mean, specifically and in the context of this post, by these two terms and why do we have them listed separately on PrimeCap.com? DEALING BY PHONE: If we're teach

What is your Q4 strategy? 4 things you should be thinking about.

Europe tends to take a holiday during August and it takes the work force about four weeks to get back into their groove once it is over. Maybe this is why the final quarter of each year is, anecdotally, perhaps the most unpredictable and informative with regards to commentary on the relative health of economies like that of the United Kingdom. Generally speaking, the pound rises as the year enters Q4. Whether this is because the markets are getting excited about the potenti

As a business we buy a lot from abroad; how can a broker help?

You are a company incorporated and predominantly working in the UK. All but a few of your more niche suppliers are located overseas in countries ranging from China and the Middle East to Continental Europe and Ireland. What you buy tends to be priced in either US Dollar or Euro. The question is, what difference can a specialist foreign exchange company make to the way you make payments and the rates of exchange at which you have to calculate your GBP outgoings? Many people

FX: Do you understand what we do?

Content, content, content. In a bid to flesh out our swelling blog and case-study portfolio I asked the team "What can we blog about next?". They were no help at all and threw out topics like "what bank accounts help the international business man..." and "5 ways to keep ahead of interest rate rises". So, I have turned domestic and think it both relevant and generous, on behalf of the Prime Cap team and the wider deliverable FX community, to do that which many of our peers

BREXIT: What about currencies?

As far a currencies, payments, people and companies are concerned, each may be affected in the same and different ways simultaneously. The UK's withdrawal from 'Europe', the single market and the close alliance with our continental neighbours may very well change our entire outlook on trading and payments, not because the public voted for that, but as an inevitable reaction to the change in our relationship with Europe. Most blogs written since June 2016 have concluded that

Confirmed this quarter's sales forecast?What about setting the rate?

Many small businesses can accurately, if not precisely, calculate their projected sales in the nearer term...over the coming two months, let's say. If buying items, components or actual products from suppliers abroad, small businesses will face just as real a foreign exchange exposure as their larger peers. The same tools and techniques that could mitigate the exposure of a larger business can be utilised by smaller businesses, and to the same effect, however, banks do not of

High end finish, and margin to match.

Our client is a sole trading interior designer. Much of her time is spent developing her own properties in both London and South Africa, for which Prime Cap is her broker, but, on occasion, she will take on commissions from private clients. Her customer will ask her to execute every transaction associated with procurement for the scheme, whether that means arranging deliveries, commissioning bespoke pieces or even sourcing items and elements from supplier in the UK and abroad

Swiss army knife of...currency.

Foreign exchange is a pretty boring subject. It is a fascinating job to have, but, the focus of the profession does not translate well into scintillating dinner party conversation. For that reason and others we've concluded that the more imaginative ways in which one might use a foreign exchange broker can sometimes get overlooked. It is not that big a shame, but, it does mean people waste money where they needn’t. In our opinion the bottom line is largely that if there is

Selling to foreign markets: 5 things to remember

1. UNLESS YOU HAVE FOREIGN CURRENCY EXPENSES, YOU’RE GOING TO NEED TO CONVERT YOUR FOREIGN CURRENCY REVENUE. We love the HSBC advert with the little girl selling lemonade: ‘I’m on the phone to my supplier in France!’. It is charming and positively prophetic in its illustration of a) how easy it is for small businesses to deal internationally b) how simple small businesses think it is and will be to sell in a country other than your own. We like the advert, but it is silly.

Buying property in London with US dollars...

At Prime Cap we talk a lot about the work we receive from the legal sector. We're very good at establishing relationships with conveyancers and we like to think this is because of our teams engaging personalities, but it is most certainly because of the direct return we provide their clients. It was, therefore, intensely gratifying for our Americas team to be referred to a lawyer for their personal dealings. The ante is always upped when one is dealing with those who alrea

4 reasons why you should pay your mortgage through an FX broker.

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Blog

The latest insights, views and industry developments from Prime Cap focusing on private client foreign exchange, corporate transaction services and international payment strategy.

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