Having worked in the City for more than 6 years structuring and executing foreign exchange transactions for large financial institutions and corporates, I was given the opportunity to shift my focus to a different segment of the foreign exchange market - physical conversions and international payments for individuals and SMEs. At first I was hesitant, as the market is plagued with a terrible reputation with brokers pushing a hard sell. I have no experience in cold calling, and had no desire to impose myself on unsuspecting people answering their phone.
I am not one to turn down a challenge, and the prospect of offering an alternative approach in the FX space excited me.
Diving head first into this new world - I was very quickly presented with a number of hurdles in terms of hiring and winning over new clients.
There is an incredibly high employee turnover in the FX market, varying from those who are struggling to reach target to those who are seeking better commission deals elsewhere. This ultimately means the client, who we are striving to serve, lacks personal continuity.
Having worked with clients directly the past year I have come to the conclusion that FX firms needs to be owner run. Why do people still use their banks when most brokers can beat them on price? Stability and continuity. As an FX brokerage you need to compete with the banks on four aspects: Price, service, relationship management and continuity - standing the test of time.
Out born the idea for TransFXr - owned and run by someone who understands the underlying fundamentals of the FX market. I represent the change I would like to see in the industry. I take a considered, client first approach whilst also being guided by my high standard of ethics.
I see myself as an extension of my client's teams, working towards one goal. I celebrate their successes and offer support during harder times. If you are looking for competitive FX pricing, excellent service, reliability and continuity, then I would love to hear from you.