Case Studies

Mr Stern works for a small UK company that hosts global events and competitions for major brands. His responsibilities include making regular payments to competition winners, as well as paying lawyers and other service providers in various jurisdictions.

Mr Stern also travels frequently to meet clients, scout venues, and plan future events. Historically, he relied on HSBC for his payments, using HSBC Net to access their services. However, the process proved cumbersome, time-consuming, and costly, with FX spreads that were far from the interbank rates. Combined with high transaction fees and monthly account maintenance charges, this system significantly eroded his company’s profit margins.

Now, Mr Stern uses VFX to buy currencies and make payments, benefiting from much tighter spreads (agreed in advance) and greater transparency. With VFX, he has access to the currency markets online and an experienced broker who can assist him with technical queries and market insights. Mr Stern also takes advantage of VFX’s suite of advanced Forex tools, such as Spots, Limits, and Forwards, giving him full control over his Forex and cross-border payment needs.