Currency Exchange
KBRFX
KBR Foreign Exchange Plc. (KBRFX) is one of the market leaders in the foreign currency exchange sector. Combining preferential rates of exchange, with a personalised service and a highly pro-active approach; KBRFX is able to provide a secure, cost- effective solution for the currency requirements of a wide range of businesses.
From sole-traders to corporations, KBRFX is able to drastically reduce the costs incurred when exchanging and transferring currency for the sale/purchase of goods or services; by providing much keener rates of exchange than high-street banks, and eliminating unnecessary and often over-inflated charges for sending and receiving funds. www.kbrfx.com/business.php
Example 1: On the 27th July 2010, a UK based fruit importer had to pay for a consignment of goods, the total cost being € 75,000. They have to send the payment immediately for the goods to be shipped. (Spot transaction) They sourced a price from their high-street bank, and compared it with KBRFX.
| High-Street Bank | KBRFX | |
| Exchange Rate | 1.1654 | 1.1894 |
| Transfer Fee | £24.00 | £0.00 |
| Total Cost | £64,331.59 | £63,057.00 |
| Saving | £1,274.58 |
KBRFX can also help businesses to secure a fixed exchange rate to protect against adverse currency swings. (Forward contract)
Example 2: On the 17th June 2009, A UK based furniture company places an order with their Chinese supplier to the value of $250,000; for a new range of products to be delivered in March 2010. They book the currency with KBRFX for that date; to prevent losing money if the rate moves down.
| Dollars | Pounds | |
| Cost of Goods (June ’09) | $250000 | £153,374.24 |
| Cost of Goods (March ’10) | $250,000 | £165,562.92 |
| Cost of Goods (secured forward rate) | $250,000 | £153,846.15 |
This proves to be beneficial, as over the period between the order and the delivery, the rate does indeed move down. By securing the rate on a ‘forward contract’ to protect against a downward movement in the exchange rate; as opposed to waiting to purchase the currency when the goods are due, the company saved £11,716.77.
As well as the cost savings that are clearly displayed above, KBRFX takes a very pro-active approach to the requirements of each business, being well aware of the direct effect of exchange rate movement on profitability. With this in mind, KBRFX ensures that clients are kept up to date with all the latest market news and exchange rates by providing daily and weekly market updates, which are accessible here: www.kbrfx.com/daily_market_update.php , and also via a free, subscription-based e-mail service.
In today’s somewhat uneasy financial climate, KBRFX has taken many steps to ensure the service they provide is secure, and that client’s funds are properly protected. KBR Foreign Exchange Plc. is an authorised payment institution (Firm reference number 504575), and is regulated by the Financial Services Authority (FSA.) under the Payment Service Regulations 2009. This means that KBRFX has satisfied the FSA’s stringent criteria in terms of capital, the company directorship, the payment processes, and the ‘safeguarding’ of clients’ funds, in the unlikely event that the firm should suffer financial difficulty. All funds received by KBRFX are held in segregated ‘Client Trust Accounts’ with Barclays Bank Plc., this ensures that the funds are distinguished from other company accounts, and cannot be combined or drawn upon for any other purpose. www.kbrfx.com/our_business_partners.php
Opening a trading facility with KBRFX is very simple, and takes no more than a few minutes. It is completely free, there is no set-up or registration cost, or monthly fees, and it can even be done with a few clicks online. www.kbrfx.com/apply.php
KBR Foreign Exchange Plc.
Riverside Business Centre
Fort Road
Tilbury
RM18 7ND
United Kingdom
Tel: +44 (0) 1375 489 480
Fax: +44 (0) 1375 489 488