Frequently Asked Questions
Yes, this is called a forward. If you know you have a currency requirement sometime in the future then you can lock in a rate today for that future requirement. Forwards allow you to take the risk out of future market movements by locking in your rate today. Forwards require a Payment Reserve (deposit) of between 5 and 10% of the total exchange amount.
Absolutely, Agility Forex gives you the ability to complete transfers via our online platform 24 hours a day 7 days a week.
No, we don’t. Simply put, what you see is what you get.
Unlike a lot of currency dealers who get their rates from their bank ( after the bank adds a margin!), we get our rates directly from the interbank market. This is the same place the banks get their pricing but as we have a much lower cost base we can reflect this in more aggressive pricing. Meaning better rates for you!
We guarantee you a better exchange rate than your bank will quote you. Savings can be anything from 0.35% up to 3% of the amount being transferred.
It’s actually very simple. Registration takes 5 minutes and then once we’ve verified your documentation (the legal bit) you’re ready to go. Log in to the transaction site using the user id and password you created at registration and input the details of your transaction (currency you’re selling, currency you’re buying, beneficiary and the amount). Hit the “Get Quote” button and we display the current real time price, and if you like the price (we’re confident you will!) just hit the “Execute Transaction” button and the deal is done. Then you send currency “x” to us and we then send currency “y” to your beneficiary. Simple, quick and cost effective.
Generally it takes 2 days for your funds to reach your beneficiary but this can vary depending on the currencies and countries involved. As a rule, the sooner we receive your funds the sooner we can send the outgoing funds to your beneficiary.
You can transact any amount over $3000. Bear in mind we only accept funds paid directly into our accounts, we don’t deal in cash, cards or cheques.
We understand that the safety of your funds is of paramount importance, for you and for us. Client money is held in accounts separate from the company’s working capital account and money isn’t paid out of these until the corresponding incoming payment has been received. We don’t take positions in the market so we’re not at risk of suffering losses due to adverse market movements, our whole approach is very low risk. We are registered with Fintrac (http://www.fintrac.gc.ca/intro-eng.asp), number M13773887.
Good question. Foreign exchange is all we do but we do it well. We will save you money and you will find the process simple and quick. Banks take a lot of money out of the spread ( ie.the difference between the wholesale market and retail market price) , basically charging what they think they can get away with, assuming that most people don’t check where the real price is. Lets also not forget the bank fees on top of the large dealing spread and the time and frustration on a visit to the bank branch.