FX Capital Group Release Online Currency and Payments Service

Friday, 13 November 2009 19:12

Leveraging the best technology and a deep understanding of both international foreign exchange and payments markets, FX Capital Group brings transparency, simplicity and automation to meet the foreign exchange needs of clients in a robust, easy and effective manner.

FX Capital Group's vision is to combine technology with competitive and transparent pricing to deliver on the promise of simple, cost effective, and customer friendly foreign exchange and international payments services for its clients.

Transacting foreign exchange and making international payments should be easy; clients shouldn't need to become foreign exchange experts or traders just to avoid being taken advantage of by their brokers.  FX Capital Group is unique in providing clients total pricing transparency:  each time they trade, all clients are shown the (time-stamped interbank) market rate and the corresponding rate at which they will trade.

Fully transparent, fully audit-able, fully automatic - no need to waste time and energy negotiating every trade, no excessively high minimum trade sizes. Just competitive quotes and simple, effective settlement and transaction management.

With FX Capital Group's online platform, corporates, trust/fund administrators and equity brokers have access to fully automated and integrated facilities to buy and sell currency and make online payments.  Initially, customers can access spot rates for 20 major currencies, with forward rates out to 12 months being added by the end of 2009.

Other currency or introducing brokers can also take advantage of the FX Capital Group platform via a white label implementation, allowing them to focus on client management and acquisition, while taking advantage of FX Capital Group's robust and scaleable platform for liquidity and settlements and back office.  If desired, white label trades can also be routed to a broker's existing or preferred liquidity provider.

Nigel Verdon, CEO and founder, comments “for our clients, the online platform is a perfect complement to our existing phone based service. Customers have a simple and secure environment to manage their currency risk and make payments, and still enjoy the benefit of our transparent pricing policy.”

The first customer to trade on the platform, Paul Pacifico, founder and manager of of The All Stars Collective stated “I couldn’t believe how simple it was to make a trade and setup the onward payment, it only took a few seconds - it’s the iTunes of FX”