Foreign Exchange
When you buy an overseas home for investment or personal use you will need to perform one or more currency transactions. Some people would simply contact their bank and instruct them to buy their currency for them. However, there are potential huge savings to be had by speaking to a “specialist currency broker”. Although no one can predict future exchange rates, HIFX has consistently been ranked by Reuters as one of the top five most accurate currency forecasters in the world. Our focus is on educating you in the currency you need to buy, securing you the best exchange rate and then transferring your funds free of charge - making the whole process as simple and cost effective as possible.
At HIFX we understand that buying or selling significant amounts of currency can be a new and daunting prospect. It is essential to understand that when you agree to buy real estate abroad that you are exposed to ‘currency risk’ Ignorance in this respect can cost you thousands of dollars! The following example illustrates an avoidable and unnecessary increase in the cost of a property: If you had agreed to buy a French property, priced at €800,000 in September 2004 (when the EUR/USD exchange rate was 1.18) it would have cost you $944,000. Had you neglected to fix the exchange rate at the time, that same property would have cost $1,080,000 by the beginning of January 2005, an increase of $136,000 in less than 4 months. This 12% increase reflects the potential volatility of the currency markets. HIFX strive to minimize the risk of currency volatility for all of their clients.
HIFX understands your needs and appreciates that each client is different. That is why we will give you your own personal currency dealer who will take the time to listen and help you at every stage. Saving money on the exchange rate is only a small part of the service we offer; timing and good communication between all parties is also essential.
PRODUCTS AND SERVICES INCLUDE:
If you need to convert US Dollars into another currency (say euros) you simply agree an exchange rate with your HIFX dealer; with more time you could ask him/her to monitor the market and call you at a 'target' rate.
However, if you are worried that future exchange rates might increase your costs but you are not in a position to buy currency yet, you can fix a rate via a 'forward currency contract'. To do this you only need to have access to 10% of the funds initially. It is simply a mechanism to "buy now, pay later" where you are no longer exposed to currency movements.
Once you have bought an overseas home you may need to send regular currency payments to pay for an international mortgage, transfer your salary or even your pension if you are relocating permanently. HIFX can fix one exchange rate for 6, 12, 18 or 24 month's worth of payments. You will then know the exact cost of all mortgage payments or the exact amount of currency your salary or pension will realize; simplicity and peace of mind!
HIFX Inc's UK based parent company HIFXplc has established a new insurance division to assist clients buying European real estate. The Lloyds of London policy is in plain English and is competitively priced. HIFX Insurance Services are regulated by the UK Financial Services Authority which has obvious advantages over a French, Spanish or Italian policy.
At HIFX we strive to offer the best currency service and delivery and we are proud to be your exclusive partner. With offices in Europe, North America, Australia and New Zealand you can speak to a consultant in your local time zone, wherever you are.
E-mail: usa@hifx.com, europe@hifx.co.uk, asia@hifx.co.nz
Tel: 415.678.2770
Contact Us
Tel: 415.678.2770
Fax: 415.773.1822
San Francisco CA, 94104
www.hifx.com
info@hifx.com
Risk Management Dept.
Tel: 415.678.2888
Fax: 415.773.1822