Gary is the owner and operator of a small, yet successful manufacturing company.
His business deals with domestic and international suppliers, and serves an international customer base. As a result, he regularly executes FX transactions.
Despite taking measures to prepare for the international economic slowdown, Gary was forced to lay off three life-long employees. To make matters worse, he had to consider further cutbacks in order for his company to survive.
In an effort to come up with new cost-saving measures, Gary and his wife, the company's Chartered Accountant, examined their costs extensively. Though their initial efforts proved to be unsuccessful, they soon discovered a significant contributor to their diminishing profit levels: their bank.
Gary and his wife were pleased with the service their bank provided for their mortgage and lines of credit; however, the banks FX trading service didn’t offer the same benefits.
The bank thickly padded FX transactions with hidden commission fees. What’s more, their rates were significantly more than the true inter-bank market rate. Over time, these hard costs compounded, further eroding Gary’s hard earned profits.
To overcome these challenges, Gary selected Velocity Trade.
Velocity Trade's superior pricing and global inter-bank rates significantly reduced Gary’s FX costs. We gave him the freedom to execute transactions of any size in real-time, with no terminal fees whatsoever.
Since partnering with Velocity Trade, Gary’s company has experienced a noticeable turnaround. In fact, they have saved enough in bottom-line costs to hire back two of its three employees.
Simply put, by choosing Velocity Trade, Gary made a choice to protect his company’s bottom line.
So can you.