AFEX, which stands for Associated Foreign Exchange, is a leading private, non-bank provider of international money transfer and risk management solutions. They provide foreign exchange products for businesses and individuals and have several offices around the world, from North America, to Asia, the Middle East, and Europe. AFEX is registered with FinCEN and the FCA and regulated by the IRS.
AFEX’s dedicated private client team works directly with individuals to develop tailored foreign exchange solutions. They help with one time and individual payments for clients who are buying property overseas, moving out of the country or moving back to their home country, or are simply making a one off international payment. They also offer assistance with cross-currency trades and navigating currency futures. As a member of the global SWIFT network, AFEX offers fast and cost-effective international payments. Individual clients also have the option of making online global payments through AFEXDirect, an online global payment system that automates currency purchases via a secure platform.
AFEX’s foreign exchange experts help a variety of commercial clients minimise the risks involved in currency transfers. They currently have more than 24,000 active business clients, including financial and educational institutions, import and export companies, small businesses, and large, multinational corporations.
AFEX helps small to medium-sized businesses with risk management solutions, insulating businesses from fluctuations in the currency markets with forward contracts, which lock in favorable exchange rates for purchases to be made in the future, and rate orders, which allow businesses to choose a target rate at which to buy or sell. They also help small to medium-sized businesses with FX payments in the form of spot transactions, which businesses use to buy or sell currency immediately, and with online FX payments through AFEXDirect.
For large, multi-national corporations, AFEX offers corporate and treasury solutions taking a customized approach to risk management. Similar to their offerings for small to medium-sized businesses, AFEX helps large corporations with risk management in the form of forward contracts and rate orders. For global payments, corporate clients have access to AFEXDirect, their online platform for managing global payments, and receive assistance with spot transactions when transfers need to happen immediately.
Founded in 1979, AFEX was a pioneer in the international money transfer space and has been growing continuously ever since. Recognized as the world’s fastest growing top tier provider of international money transfers and risk management solutions, the company has expanded its reach worldwide and anticipates further growth in the years to come as they open new offices in Europe and Asia.
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