Today we have a guest post from our friends at TorFX.torfx-logo

We are delighted to recommend TorFX for all your currency exchange needs. Not only do they offer a first class service, but they also have superb rates, with no hidden charges or fees and their customer service is outstanding!

TorFX has developed into one of the largest currency exchange companies in the UK. They have capitalised on the fact that these days, you don’t need big offices in central London to do currency exchange deals, hence they are based out of Cornwall, with low overheads – meaning they can work on slimmer margins than most other companies would care to, passing on the savings and benefits to their customers on the exchange rates they provide.

Here’s their expert advice on Money Exchange.

Moving Money to Canada? What Do you Need to Know?

When moving to Canada or purchasing property in the nation, it goes without saying that you’ll need to send money overseas at some point.

If you’ve never had to deal with the foreign exchange market before, understanding exchange rates and how to get the best deal on your currency transfers can seem a little daunting. But getting more Canadian Dollars for your Pounds is actually easier than you might think.

Bank or Currency Broker?

There are a few options available to you when transferring funds abroad, and the provider you pick can make a massive difference to how much you receive. The two most popular kinds of providers are banks and specialist currency brokers.

Although it’s easy to assume that using your bank would be the simplest choice, using a broker can actually be more straightforward and far more cost effective. Banks can rarely offer you the same level of personal customer assistance and tailored financial services as reputable currency brokers like TorFX.

TorFX can also offer excellent exchange rates, fast, free transfers and access to specialist services – like the ability to manage currency transfers 24/7 with an online trading platform and app.

Whether you need to transfer £500 to Canada or £5,000,000 TorFX can help you make your money go further.dollars982

Dealing with Exchange Rate Volatility

As one of the world’s most volatile trading platforms, extremely dramatic movements can occur on the foreign exchange market within hours or even minutes. While you can monitor exchange rate trends, significant fluctuations can be extremely difficult to predict, especially if you aren’t keeping on top of the various economic data releases that routinely move the market. Such releases have the potential to cause a currency to spike or plummet without warning.

Events like the UK’s decision to vote to leave the EU in 2016 can also have a profound impact on exchange rates. The GBP/CAD exchange rate, for example, plummeted from 1.90 immediately before the vote to 1.59 in the months following the decision. That difference of 31 cents could mean the difference of C$34,000 in a £100,000 transfer.

Few people have the time to track exchange rate shifts, but industry experts like TorFX can send you regular market updates and keep you informed of exactly what the Canadian Dollar is doing and, more importantly,what this means for your transfers.

Staying up-to-date with the latest currency news in this way can help you time your currency transfers to Canada more effectively, potentially saving you thousands.

A further benefit of using a currency broker like TorFX to manage your currency transfers to Canada is that they will assign you a personal Account Manager. Your Account Manager will act as a constant point of contact and offer invaluable guidance regarding the most suitable transfer option for your needs. Your Account Manager can also help you set alerts which inform you if the exchange rate moves in your favour or reaches a specified level.

Benefit from Specialist Services

In order to get the most Canadian Dollars for your Pounds, it makes sense to use the currency transfer service most suited to your individual needs. Specialist services for both one-off and regular transfers could help you save a lot of unnecessary stress and enjoy serious savings.

As well as benefiting from excellent exchange rates and fee-free services, using a broker means you’ll have access to transfer options like setting up automatic regular overseas payments or fixing a favourable exchange rate for up to two years in advance of a transfer – which can be particularly useful if you’re looking to purchase a Canadian property.

Emigrating can be a costly process and ensuring your funds are going to stretch as far as possible can make a big difference.

Looking into your foreign exchange options can really help you get more for your money, so get exchange rate quotes, talk to different providers and see how much you could save.

To find out more or get a quote…Visit TorFx Now or click on the link below 

With so many different currencies, different amounts and exchange rates changing daily, it’s impossible to provide an exchange rate comparison chart here. So I would suggest you click on the link above, fill in the form to get a quote to see how much money you will get using TorFX as your currency exchange company. Then see what you can get elsewhere.

My guess is you’ll come back to TorFX.

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