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Case Study 1: Norman C*****

Problem

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.

Solution

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.

Result

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.

 

Case Study 2: Shirley and Stephen M*******

Problem

Shirley and her husband Stephen have been in business for over 22 years manufacturing and importing heavy vehicle equipment. In 2002, Shirley switched to using a broker because she received much better exchange rates than she could get from her own bank.
After 2 years of using the same broker Shirley’s usual dealer became less and less available and rarely returned her phone calls. Suddenly Shirley was informed that they were increasing their margin on her business, and she would get a better rate using their online system. She spent the next year going back and forth between the online system and her disinterested dealer.

Solution

Shirley decided it was time to find a new provider, and contacted 4 different brokers. A representative from Forex Group went to her office and spent over an hour working on a better way to structure her payments. We tailored a package for Shirley so that she could communicate with her personal dealer how she wanted receives a better exchange rate. Best of all Shirley and Stephen don’t have to worry about the currency market anymore because their personal dealer manages everything for them.

Result

Shirley has had the same personal dealer for 7yrs and she couldn’t be happier. She emails her payment schedule to her personal dealer at the beginning of each month. Her personal dealer sets her orders and contacts Shirley when great buying opportunities arise. Shirley receives regular market updates so she no longer has to stress about the ups and downs of the market.

 

Case Study 3: Doug G*****

Problem

Doug has been exporting meat to Asia for over 14yrs and has always dealt with his bank. Doug is constantly on the road and would ring his bank treasury department to buy and sell US dollars.
In 2009, he received a letter from his bank informing him that he can no longer ring the treasury department. Now the only way he could continue business relationship with them was by doing all of his foreign exchange online. Doug wasn’t all that happy dealing with his bank to begin with, so this really pressed his buttons! He immediately rang his bank to find out what’s going on, after so many years of loyalty he was shocked to be given a “take it or leave it” attitude.

Solution

Doug had spoken to a Forex Group representative in the past and still had the details on file. He liked what he heard but was too busy to look at switching providers. Within minutes of calling Forex Group, Doug was fully registered and had processed his first deal. The fees were much better than the bank and he enjoys receiving an easy-to-read morning report to help him stay up to date with market conditions.

Result

Doug keeps saying he should have switched earlier and has referred 6 of his friends to FGA. He can phone or email his orders through, and his personal dealer takes care of everything else, from the exchange to processing the telegraphic transfer. Doug is also grateful to receive the morning report and market updates as they help him decide when to buy and sell.

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