POINT GIVES CLIENTS THE EDGE WITH GAME-CHANGING FX PROPOSITION
Pointgroup has entered the fast-changing FX marketplace with a new digital foreign currency exchange and international payments platform. edgeFX launches against the backdrop of a market dominated for so many years by the banks, which continues to be disrupted with the advance of information technology, and amidst considerable volatility in the equity markets.
An online global foreign exchange payment solution for international business, global investors, wealth managers, IFAs and private clients alike, the newly launched edgeFX proposition delivers access to highly competitive FX pricing and is supported by a market-leading payment platform which enables cross-currency payments on both a domestic and international footing, in over 60 currencies and to circa 185 countries.
edgeFX brings together all the features clients expect of an FX service, and care about, in a clear, concise and low-cost environment. It speeds up the process of making international payments and money transfers using the fastest and most economical payment services and allows clients to manage their account simply and efficiently.
edgeFX enables clients to take control of their transaction requirements and the online payments process, to make fast, secure single or multiple SWIFT payments, globally, at no cost – with a full audit history.
In launching edgeFX .point has partnered with Monex Europe Limited; by harnessing its market-leading technology platform and its extensive global network .point will deliver to clients a better value service on a broader range of currencies than presently available with other providers.
edgeFX – key features
- Transparent trading: same day, tomorrow and spot transactions in more than 60 currency pairs using highly competitive live market prices sourced from multiple liquidity providers including Tier 1 banks, prime brokers and global market makers
- trading available through the edgeFX online portal 24 hours a day, 5 days a week
- Fast and efficient payments: no charges to make fast and secure international FX payments, one-off transfers or regular payments
- payments made through the SWIFT network, reducing business costs and operational risk
- Multi-payment solutions: the ‘batch’ payments service is efficient and convenient for those who need to manage regular bulk international payments. It allows payment lists to be created and downloaded or use of .point’s validation software to mitigate the rejection of payment orders
- Account security: clients can create and manage bank account details securely and manage user accessibility with the ability to allow for multi-user authorisation. Operating in a stringently regulated trading environment, all client funds are held in segregated accounts at Tier 1 banks
Commenting on the launch, Henry Wilkes, Head of Foreign Exchange at .point said, “Most find the world of foreign exchange confusing and complicated, so it’s no surprise the banks have been able to get away with high commissions on rates while delivering such an inefficient and poor quality service for so long.
“edgeFX gives clients greater control over the process, is completely transparent and has been designed to deliver the optimum value for money. We think it’s a game changer and invite private clients and those working in the world of financial services, wealth management, private banking and asset management to take control of their personal and global business currency requirements with a streamlined and efficient process using automated payments, individual or multi payment services, new trades and onward payments to third party recipients – and to give themselves an edge.”