Individuals, businesses, importers, exporters, and shippers are involved in international trading, and by definition will need to exchange local currency for international payments or receivable.

Whether you are importing, exporting, or buying a house abroad, whatever your needs are you will not accept anything other than the best rate. At AFEM we have a flexible approach that means we can obtain the most competitive foreign exchange prices, whilst supporting our clients’ through our simple but effective process.

Example:

On the 11th February 2008, HSBC were offering the US Dollar at £1-$1.94. AFEM exchanged £38,750 for a customer at a rate of $1.963. The Customer received $76066.25, which was $891.25 more than he would have received had he purchase the FX from HSBC.

In September 2007, Mr B had found a house in Spain for which he had a balance of 125,000 Euros to pay by the end of October. In the first week of September the Euro reached 1.4415 against the Pound, meaning the property he was buying would cost her £86,715.23. Instead of buying the Euro when the Pound was strong she waited until the week before the property formalities was completed before given instructing to transfer the funds. When Mr B need to make the final payment the Euro had dropped to 1.3387, a staggering 7.6% lower than what was available to her in April, meaning his property cost £93492.89, nearly £7000 more than it would have cost he only 8 weeks earlier.

In short, we offer a full range of trade products and services:

• Commercial and Standby Letter of Credit

• Bankers’ Acceptances

• Documentary and Clean Collections

• Government Agency Funding

• Zero commission trades

• Free transfer of funds

• Same day wiring of funds

• Spot Trades, Market Orders, Forward Contracts.

Our Foreign Exchange transaction is monitored by HM Customs and Excise, under the provision of the Money Laundering Regulation Act. This is a very stringent regulation, which requires companies to have full details of all their customers and to have documented records of all their transaction. We therefore have to comply with all instructions supplied by our customers on their deal tickets. If we do not comply with these.