As a business owner, delving into the world of international trading can be a daunting process. If you’re considering expanding your business into Europe or other global markets, there are a number of challenges you may face.
In many instances, you will be sending and receiving foreign currencies to and from suppliers, manufacturers and in some cases employees. As a result, your business will be exposed to fluctuations in the financial markets and it is import to manage the risks associated. In working with RationalFX you can ensure that your business is prepared and protected against downside risk when unpredictable moves occur.
Here, we have outlined a few strategies that you can implement to protect your business and improve its profitability.
Stay up to date with the financial markets
The foreign exchange market is extremely fast paced, with political and economic factors constantly effecting the stability of all major currencies. As a result, it is hard to know when to time international money transfers in order to secure the best rate.
Here at RationalFX we provide our clients with daily, weekly and monthly market updates; keeping you up to date with all the news and events within the foreign exchange markets.
We also monitor exchange rates on your behalf and keep you informed of any movements in the financial markets that may affect you and your business.
Ensure you are receiving competitive exchange rates
The cost of international currency exchanges through high street banks can be crippling, particularly for small businesses. There can be high fees and uncompetitive exchange rates which can often negate hard-earned profits, especially when making regular international payments.
You can increase the profitability of your business, through our highly competitive exchange rates and low transfer fees. Being at the forefront of foreign exchange and international currency transfers, we have access to competitive exchange rates in over 50 currencies.
Seek expert advice
There are a range of different strategies that RationalFX can implement to suit the specific international payment requirements of your business.
- Spot contract: Secure an exchange rate to make an international payment within two business days.
- Forward contract: Fix a currency exchange rate with us, up to two years in advance leaving you in control of your money.
- Limit order: Target a desired currency exchange rate that is not yet available on the live market.
- Stop loss: Enables you to set a worst case scenario exchange rate. It triggers when the market drops to undesirable levels to protect you against the rate continuing to fall.
Should you open an international payments account with us, you will be appointed an account manager, who will offer you support and guidance on the best strategy for your business.