Thursday, 12 September 2013

La Torre Fx – Foreign Exchange

By-pass your bank for a better deal, saving time and money.

LaTorre Fx provides this excellent service, with great rates and high quality customer service, by linking to the very best Foreign Exchange Platform – FTT Global.

Questions and Answers

What does FTT Global do?

FTT allows you to exchange currencies at market leading exchange rates. FTT will transfer your purchased currency to your nominated bank account anywhere in the world. Check out LaTorre Fx

What does FTT NOT do?

FTT does not provide facilities for you to gamble on the currency exchange markets. FTT does not provide travel money for your holidays.

How can La Torre Fx provide the best exchange rate?

FTT has developed smart technology to reduce the costs of trading currencies. We pass these cost savings onto our clients. Other currency brokers employ teams of highly paid traders to talk to clients and convince them to deal through their brokerage. This is an expensive way to run a foreign exchange trading company and the costs are passed onto their clients. Banks have a long established history of charging high fees and providing poor rates of exchange which nets them fat profits at the expense of their clients

What hours are La Torre Fx and FTT open for business?

FTT is open for online trading 24 hours per day, 7 days per week, 365 days per year at LaTorre Fx. FTT is open for telephone based trading between the hours of 9am and 5pm British standard time.

How can I get help or support?

FTT is fanatical about providing a fantastic support to our clients. Between the hours of 9am and 5pm British standard time, call us on +44 (0)203 004 4444. Email us 24 x 7 on, mentioning La Torre Fx. There is always someone ready to respond.

How do I open an account with La Torre Fx?

Any private individual or company can open an account with La Torre Fx through FTT Global. Click the 'Open Account' button on any of the FTT pages. You will need to fill in a few pieces of information but it is a very quick process. In fact, we aim to open your account and have you up and trading within 5 minutes of you clicking the open account button. Note that we do have strong anti-money laundering procedures in place. You can Register here

What are the fees, charges and commissions?

Opening an account with LaTorre Fx and FTT is FREE. Trading amounts over £3000 is FREE. FTT will wire your purchased currency to your nominated bank account anywhere in the world for FREE. Fixing a rate for the future is FREE. Placing an order to be executed if the currency exchange rate reaches a particular level is FREE, even if you cancel the order 5 minutes later. FTT does not apply any hidden commissions or fees. The only fee that FTT will ever charge is if you exchange an amount below £3000. In this case we will charge you £10 for the telegraphic transfer fee to deliver your purchased funds to your destination account. FTT earns revenue by applying a small price difference between the exchange rate at which we buy currencies and the exchange rate at which we sell currencies.

What are the maximum and minimum amounts that can be traded ?

You can trade any amount from £100 or equivalent upwards.

How will I know the status of a trade or payment?

We confirm by email when you have agreed a trade. We confirm by email when we have received your payment to fund the trade. We confirm by email when we have sent your purchased currency to your nominated account. You can log into your account 24 hours per day, 7 days per week to review the status of your trade. You can contact us anytime to request a status.

Can I trade on-line?

Yes, FTT has developed a unique online trading system which is easy to use yet very powerful. This system is not available through any other currency broker or bank and is unique to FTT.

Can I trade via telephone?

Yes, some of our clients don't like to trade online and prefer to call or email us.

Can I fix a rate for the future?

Yes, there is no need to be exposed to future currency fluctuations. You can fix a rate for all major currencies up to one year. When you fix a rate for the future, we require you to put down a 10% deposit to secure the future rate. We have to do this in case the exchange rate moves against us and a client defaults on the trade. Surprisingly, future exchange rates can sometimes be cheaper than the current exchange rate. It is always worth checking the future rate of exchange.

Can I place an order to ensure that my exchange will occur if a certain rate is hit?

Yes, if you want to trade at a particular rate then you can Pre-order currency at the rate that you desire. FTT will monitor your exchange rate around the clock and notify you immediately if your order is filled. Take profit orders allow you to target a better exchange rate. For example, I would like to buy $US10,000 for pounds sterling if the exchange rate exceeds 1.5. Stop loss orders allow you to protect yourself if the market moves against you. For example, I need to buy $US10,000 for pounds sterling but I want to wait and see if the rate improves. However, if the exchange rate drops I want to make sure that the worst rate that I pay is 1.4.

Can you predict future exchange rates for me?

No and please don't trust anyone that says they can. Anyone who could accurately predict the currency exchange rates would have a limitless supply of money and would be living on their own island somewhere. Currency exchange rates are acknowledged as the most difficult rates to predict within the financial markets. Treat them with respect and reduce your exposure to currency fluctuations where ever possible by fixing a rate for the future.

How do I pay for my purchased currency?

The best way to pay for your purchased currency is through electronic bank wire. Contact your bank and ask them to transfer the required amount to the FTT bank account held at Barclays Bank in London. Our bank account details can be found by logging onto our system. If you are based in the UK, your bank can provide the FASTER PAYMENT SYSTEM and this normally takes less than two hours. If you are based outside of the UK, your bank can provide a SWIFT payment.

How do I receive my purchased currency?

FTT will transfer your purchased currency to your nominated bank account anywhere in the world using the fastest electronic bank wire method available for the receiving country. Outgoing payments are cleared the same day in the UK and same or next day in the US and Europe. Allow 1-2 days for payments to clear outside of the UK, Europe and the US. However, we are always seeking to improve our service to clients and recently we have cleared payments to China the same day so don't be surprised if your payment arrives earlier than expected.

Don't banks hate what FTT is doing?

They sure do but there is not much that they can do to stop us. As more people discover LaTorre Fx and FTT Global we expect the banks to get even more upset.

La Torre Fx – Foreign Exchange is a trading name used by Financial Pages in Spain

Though Financial Pages in Spain is a website and Blog for British and Irish expats and property owners in Spain, La Torre Fx can offer trading in Worldwide currencies.

David Goodall
Financial Pages in Spain