Foreign Currency Exchange – Trusting the Professionals

Alpari Forex

Alpari Forex

Foreign currency exchange deals are often handled by a broker but more and more people are turning to Alpari forex trading platforms and the professional advice behind them in order to make the most of their currency.

The foreign currency exchange markets can look like great places to make money, and you may even have been approached by people offering to help you make a fortune by dealing in foreign currency. Don’t be tempted though, as these offers are often scams. It’s always best to trust the professionals.

Avoid Foreign Currency Exchange Scams

The thing about good scams is that they never look like a scam. Instead, they seem genuine, interesting and potentially very rewarding. Good scams are well marketed, well worded and often make promises that seem too good to be true. You may receive an email, see an internet advert, or read an advert in a paper or a magazine, and it will nearly always be enough to make you read it a couple of times and wonder whether the scheme would be worth following up. Whether you’re a business looking for the best way to make the most of foreign currency exchange transactions or an individual who’d like to make your money go further, the advice is the same: always deal with a professional:

• Established business – if you need to make foreign currency exchange payments, or you have a sum to invest and you’re thinking of investing overseas, always use an established foreign currency broker, rather than relying on an unknown firm – even if the deal seems better. Whilst transferring your money to the unknown company is easy, getting it back again may be impossible, so always deal with a business that you can prove exists.

• HMRC registered – all foreign currency exchange brokers in the UK need to be registered as Money Service Businesses with Her Majesty’s Revenue and Customs. If you can’t see this registration information on the broker’s website, ask for their registration number and check them out with HMRC before you commit any money.

• Dedicated advice – if you’re buying a property, making an investment or doing business overseas, you need to have the same sort of relationship with your foreign currency exchange broker as you have with your solicitor and accountant. Choosing a reliable broker will give you access to individual advice that’s designed to help you make the most of your transaction.

So, if you have some money to spare and you think that the smart investment is overseas, don’t fall for a foreign currency exchange scam. Instead, do the smart thing and speak to a trustworthy, professional currency broker who can help you achieve your goals without losing your cash.