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In Focus: Finding the right international payments provider for your business

By HiFX   /     Jul 06, 2017  /     Global  /     , , , ,

Welcome to In Focus, foreign exchange insight from HiFX to support businesses that send or receive international payments.

For information on how businesses can avoid costly mistakes when making international payments, download our new international payments whitepaper.


If you’re shopping around to compare the cost of making international payments through a high street bank or FX broker, you may have found that your business could save money by using one of the many foreign exchange specialists currently in existence.

But while the cost is important, there are other factors you may wish to consider. If you’re offered a brilliant exchange rate, is there something else you are missing out on? Some foreign exchange providers can offer all sorts of additional support for your business. We’ve taken a look at some areas you may wish to consider so you can find the best fit for your requirements.

Spot trades or hedging options?

Does your business simply need to buy or sell currency as and when you buy and sell goods and services? If so, a quick and easy to use platform that provides bank-beating exchange rates might be best-suited for your needs.

But if your business has some visibility of its future foreign exchange requirements, you might benefit from access to a team of foreign exchange experts who can provide you with market insight and offer you a range of hedging options, such as forward contracts, FX Options and Structured FX Products.

Online or over the phone?

Do you like being able to do your business online, without the hassle of having to talk to someone unless you really need to? Do you prefer being able to call up an expert who can help to give you additional peace of mind? Or perhaps a mixture of both?

Whichever approach you prefer, you may find that a dedicated FX specialist is able to provide a level of support that the banks simply can’t match, because foreign exchange is all they do.

Simple or complex requirements?

You and your business are unique, so ask your chosen FX provider if they are able to meet your specific needs.

Do you closely follow the currency markets? You’ll want to find a provider that can provide plenty of market intelligence.

Does your business prefer to act quickly when the markets are favourable or does it prefer to actively manage its exposure by hedging its currency risk? Do you need to be able to split orders or roll trades? Ask your provider if they can offer this flexibility.

Do your internal processes require different staff to have different permissions? For example, you could require one member of staff to enter information and another to sign it off to avoid costly data entry errors. Or you might want to set different maximum transaction levels for staff of different seniorities. Your provider may be able to support with this.

What’s the right option for you?

At HiFX, we always urge new and prospective clients to be honest with themselves about what they need. Too often, businesses end up with overly complex features they never use, when all they really wanted was the ability to make international payments quickly, easily and securely. Alternatively, they might choose a provider that isn’t sophisticated enough to cater to their needs.

To make sure you get the most value from any international payments provider, it pays to spend a bit of time thinking about what you need from the company you choose to work with and checking that they can meet your requirements.

If you’d like to find out how HiFX can support you with your international payments, please call our Corporate Team on +44 (0) 1753 752 626.

To learn about common mistakes that businesses make when making international payments – with tips to help you avoid them – download our new international payments whitepaper.


This communication is provided for corporate entities only. The details expressed in this transmission and accompanying documents are for information purposes only and are not intended as a solicitation for funds or a recommendation to trade. HiFX Europe Limited accepts no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the above information. HiFX Europe Limited is authorised by the Financial Conduct Authority under the Payment Services Regulations 2009, registration 462444, for the provision of payment services. HiFX Europe Limited is also a registered MSB with HM Revenue & Customs. Registration number: 12131222. HiFX is a limited company registered in England and Wales. Registered number: 3517451. Registered office: Maxis 1, Western Road, Bracknell, Berkshire, RG12 1RT

In all matters relating to a Trade, the Contract, Our Services or any information obtained from us, you shall rely on your own skill and judgement. Although we may provide you with information concerning the foreign exchange markets, you shall not rely on any comments made or opinion expressed whether by us or any member of our staff at any time concerning the merits or otherwise of any currency transaction or concerning taxation matters, investment products, markets or any other matters whatsoever. It is entirely for you to decide whether or not to make a Request and entirely for you to decide whether or not a Request, a particular Trade, and your instructions to us, are suitable for you and your circumstances.


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