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There is no secret about how forex providers make their profits.

Most forex services companies, including ourselves at Forex Group and the banks make their profit through a combination of:

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We’re regularly asked questions about exchange rates. Here are just a few of the more common ones we’ve seen recently.

Why can’t you tell me the exchange rate in advance?


We can!

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Do you like to think you’re running your business or that someone else is?

Maybe that sounds ludicrous. Well, it’s not as crazy as it sounds because when you’re converting money from one currency into another, it might sometimes feel as if your bank’s in charge rather than you.

Why’s that?

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This is a good question!

In the usual context, it’s used to mean a bank account held in a non-native currency. So, if you had a foreign currency account at your bank, it might contain a sum in say US dollars as opposed to Australian dollars.

Why would you do that? There might be many reasons.

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Here are our top five key tips to help you find some of the most competitive forex rates out there:

1. Select your foreign currency exchange provider carefully by shopping around. Simply dumping your requirements onto your local bank might seem to be the path of least effort but it may lead to some severe disappointments in terms of the exchange rates you obtain. At Forex Group, we are not going to apologise for throwing our hat in ring as a contender for your business.

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Many of our clients started their profitable relationship with us by simply making an initial phone call or two then chatting through some basic principles.

At Forex Group we pride ourselves on being not only efficient but also friendly - and if that’s how you’d like to get started, we’d welcome your call on 1300722214.

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