Internet exchange platforms are becoming increasingly popular among business customers. Both independent Swiss franc borrowers and large companies can benefit from their services. As a result, the transactions of medium as well as large companies are becoming considerable sources of revenue for online platforms. Import and export companies look for favorable exchange rates beyond those provided by banks. However, the question still remains – Why internet-based exchange platforms and who do they target?
Safety and convenience
Companies operating on the currency market transfer large sums and subsequently rely on the security of their transactions. Customers do not enter risky deals because of any extra profits. Currently, the internet-based exchange platforms operate as European payment institutions supervised by the Financial Supervision Authority. In addition, there are exchange platforms whose owners are listed on the Warsaw Stock Exchange. This increases the security and transparency of transactions by ensuring that any transfer is sent to a proven and reliable partner.
Internet-based exchange platforms work with all local banks in making any payments. So customers’ funds are transferred within one or several banks. These are always non-cash settlements carried out by common systems of payments. There is no need to open additional bank accounts, including accounts in foreign currencies.
Speed
Internet-based exchange platforms also bring fast transactions by virtue of the fact that they work around the clock. Buying or selling currencies neither depends on the working hours of bank dealers nor on those of bank branches. Platforms that use these currency exchange solutions offer the best exchange rates around the clock, meaning transactions are concluded directly between market participants.
These platforms also work with foreign banks. After a transaction the customer can send the purchased currency directly to a recipient within the country or abroad. Such a transfer (e.g. from Ireland) comes almost immediately because, in reality, funds are transferred within one or two banks in Ireland. These are of course transactions with physical delivery, not speculative ones.
Savings
Using this type of platform could give up to 40-50% of savings on the cost of exchange rates in comparison with the banks. In contrast to the interbank foreign exchange market using this kind of currency exchange is without the banking spread (so disliked by companies). Platforms have much lower infrastructure as well as other costs which contribute to the diminished transaction costs for customers.
A wide range of services
Our platform does much more than simply facilitate foreign exchange transactions. Platform customers also benefit from rapid domestic and foreign payments, forward fx transactions, escrow accounts (important for start-ups in order to improve their own credibility), loans and a wide range of payment cards. This trend is also accompanied by a new EU directive (regulation PSD2) which will free up the banking services for non-banking providers. Currency exchange will be made without having to log in, and all transactions will become even more convenient for the customer.
Access to information
Customers receive professional service of market news. Dealers provide telephone support which is also available in banks but only for large customers who operate with large sums of capital. Platforms do not limit this access and even encourage personal contact. This allows us to be in touch with customers and respond quickly to their needs. Today’s customer is increasingly looking for quick and useful help in many products and services at a time.
Financial platform Trejdoo.com
Trejdoo.com is owned by Igoria Trade S.A, a European Payment Institution. It is authorized to provide payment services in 31 countries in Europe. Trejdoo.com can operate in Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Greece, Spain, Netherlands, Ireland, Iceland, Liechtenstein, Lithuania, Luxembourg, Latvia, Malta, Germany, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Sweden, Hungary, Great Britain and Italy. Igoria Trade S.A. is listed on the Warsaw Stock Exchange, on the NewConnect market. It operates under the Polish Financial Supervision Authority as well as other regulators that ensure high standards of financial services (e.g. money laundering act, payment services act).
Trejdoo.com may be used both by individual and business customers. All offered products and services allow customers to generate cost savings mainly due to the fact that currency exchange rates are without banking spread. Rates are more attractive than in banks and stationary exchange offices.
Author: Michał Buczko
Dealer on Trejdoo.com platform