Foreign exchange trading specialists urged for transactions

Expats have been urged to consult foreign exchange trading experts if they are transferring money abroad.

Financial advisor Shelter Offshore recently issued the warning to Brits who plan to convert sterling to increasingly stronger currencies, such as the euro.

The expert explained that as the pound weakens, expats may find they get fewer goods for their money, but transferring money via exchange specialists can help their cash to go further.

Brits ought to consider converting their currency using the services of dedicated companies rather than banks who may charge high fees.

"It's important to know that there are specialists who deal with currency exchange," said the financial advisor.

"Your bank is not in the market of currency exchange. It is in the market of making money out of people like you who want to send money back and forth overseas."

Meanwhile, loans provider International Mortgage Plans recently urged overseas investors to look for mortgages deals on the web.

Click here to find out how much you can save with HiFX's Foreign Exchange services.

By Linsey Summers