Business FX - FX Dealing
John has been running a successful fisheries business in South Australia exporting his product to the USA and Japan. John has always dealt with his bank for his foreign exchange transactions but his business grew to the extent that he felt it best to engage an additional provider. John makes an average of 25 transactions per year converting revenue in US Dollars and Japanese Yen to Australian Dollars.
What made you decide to try a second provider for your foreign exchange transactions?
Look, I think I just realised it was time. I was happy enough with my bank but I think with forex volatility it is important to understand the currencies that play a big part in your business. I thought it was time to bring a true forex specialist on board.
How did you hear about Bell FX?
Bell FX was recommended to me by a friend who has worked with them for some time.
What were you initial impressions of Bell FX?
Fantastic. I called them up and they arranged to come and visit me at my office the same week. I sat down with them and talked to them about my business and the transactions I was undertaking.
My account was open within a week, they arranged for me to receive their daily report, which is fantastic and have access to their online research.
You have been dealing with Bell FX for 2 years now. How is it going?
Really well. Bell FX have been very helpful and made me think about by business’s foreign exchange dealing in ways I just wouldn’t have if I had dealt solely with my bank. I have started using options for a small proportion of my business, which I am really comfortable with. Bell FX has made it easy for me to undertake transactions in the derivatives market at competitive rates.
What would you say are Bell FX’s key strengths?
They are responsive, proactive and professional and I’ve got to say I have been dealing with the same team at Bell FX since I started with them and that’s a good sign in my book. I find the turnover of staff at my regular bank annoying. Each time I have to deal with someone new I have to explain my requirements all over again, which is time consuming and inconvenient.
Any thoughts for exporters looking to diversify their fx?
Go for it. I now view my relationship with Bell FX as a vital component to the success of my business.
Call Bell FX today on 1800 003 815.