The foreign exchange market: navigating the murky waters
June 30, 2015, London, UK. Press Dispensary. As current press coverage amply demonstrates, the foreign exchange market can be a treacherous place. betterFX is a new business that guides firms (and even individuals) safely through the treacherous and murky waters of the foreign exchange market.
The endless stream of start-ups seeking to feed off the crumbs from the banks' table provides welcome choice, but means there is now a confusing array of hundreds of banks and independent foreign exchange firms to choose from, and some are more scrupulous than others.
betterFX is founded by Matt Richardson, a veteran of the foreign exchange market by more than 20 years, and his unique proposition is to secure the best deal and service for his clients, that they would almost certainly not be able to get themselves.
"In previous roles at major banks, and foreign exchange firms, my first obligation was to the shareholders of my employers - and that did not necessarily mean getting the best possible deal for the client," says Richardson.
Using deep and broad inside knowledge of the FX market around the world, betterFX matches the client with the best provider for them, and negotiates a price (i.e. FX margin, transaction fees) that the client would be highly unlikely to achieve themselves.
"In my experience of working with hundreds, maybe thousands, of clients over the years I would say that 95% or more could have got a better deal, service or both if they just knew where to go to. It may seem like a bold claim, but now, no one need ever get ripped off with their foreign exchange transactions ever again."
What is also rare about betterFX is that, whilst it focuses on serving larger companies, small companies and even private individuals are also welcome to benefit from the service.
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Notes for editors
Matt Richardson has spent his career in FX at JP Morgan, Deutsche Bank and Travelex, and in that time worked in and with all aspects of the FX market. This included developing foreign exchange products and platforms, running FX sales teams, and advising other banks how to improve their client offerings. Matt's career in foreign exchange has spanned Europe, Middle East/Africa, Asia and the US.
betterFX has no single income model. Some clients pay a conventional consulting fee, some a percentage of what they save and, in some cases, nothing at all. (In the last scenario, betterFX will earn a referral fee from the FX provider). All clients, however will be better off!
For further information please contact
Matt Richardson, Founder / managing director
Tel: 07984 684788
LinkedIn: www.linkedin.com/profile/view?id=21669736 (Matt Richardson)
Published for betterFX by Press Dispensary
+ 44 1273 741410