FX Capital Group has launched an online currency and payments platform that will change the landscape of deliverable foreign exchange (FX) and international payments.
With FX Capital’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 platform via a white label implementation, allowing them to focus on client management and acquisition, while taking advantage of FX Capital’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, chief executive officer (CEO) and founder, said: “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.”
Paul Pacifico, founder and manager of The All Stars Collective, was the first customer to trade on the platform. He said: “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.”
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