Smart Currency Exchange is a UK-based financial company specializing in helping clients make efficient, cost-effective, and safe international payments. Smart Currency Exchange was founded in 2004 and now covers more than 20 currencies and can help clients send and receive transfers from anywhere in the world.
Individual clients have several transfer options with Smart. With a forward contracts, customers can trade for another currency when the rates are favorable to use lock in the current price for a purchase at a later date. This option is ideal for those buying property since real estate payments are often made in stages or installments. Smart also offers spot contracts, which allow clients to buy or sell at the current rate for funds that will be transferred instantly or within a few days. This is best suited for clients who need to make a large one-off payment such as to fund the deposit for a house, pay lawyer fees, or send money back home.
Another option for individual clients with Smart is placing an order to call or buy. With an order to call, the client designates a particular rate at which they would like a Smart Trader to give them a call. When the specified currency reaches the desired rate, the trader will call and the client can decide whether or not they would like to execute the trade. Similarly, an order to buy allow the client to designate a specific rate at which they would like to buy a certain currency. When the currency reaches the desired rate, a Smart Trader will purchase the currency on the client’s behalf. Individual clients can also place a limit order, which allows them to set a range for the rate at which they most comfortable buying a particular currency. A Smart Trader will then purchase the currency on the client’s behalf before it goes either too high or too low.
Smart Currency offers a similar variety of payment options for businesses to help protect corporate clients from major losses in forex transactions. Forward contracts allow businesses to lock in current exchange rates for months in advance, which is a good option when rates are favorable. Smart offers a flexible forward contract especially for businesses, which allows companies to extend the dates for which the forward currency rates were reserved. For companies that will have to make international payments sometime in the future, a limit order will set specific rate at which Smart will buy on the company’s behalf.
Smart Currency Exchange was established in the UK in 2004 and is regulated by the FCA. Since 2004 the company has grown, maintaining a solid balance sheet and no debt. They maintain segregated client accounts and their services now cover 20 currencies. Smart’s founders have well-established backgrounds in accounting, finance, and real-estate and a large proportion of the firm’s transactions are related to real estate.
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