Case Study 1: Norman C*****
Norman, like many business owners, was used to dealing with his bank. When he started his European tile import business in 2004, it was only natural he purchase Euro from them.
2 years later Normans Business was very busy indeed. He was making a lot of sales and was importing at least 2-3 containers every month. Eventually he began to realize that the fluctuating currency market had a large impact on his profitability. Norman was too busy to watch the market every day and unfortunately his bank had no interest in contacting him when the market was up.
Norman was referred to Forex Group in 2008 by a friend who imports products from China. After a quick discovery session with a Forex dealer Norman was presented with a strategy to help time his purchases better. Norman can now protect his profit margin should the market move against him yet allow him to take advantage of favourable up-swings in the market. With the help of his Forex dealer Norman finds the strategy very easy to follow and is no longer overwhelmed by the unpredictable currency market.
Since implementing the strategy Normans’ profits are more consistent. He also faired very well during the Oct 2008 financial crash, all thanks to the protection strategy he had in place. Norman has calculated that his net profit is higher every month thanks to Forex Groups strategy and pro-active service.