“Global Reach“ is now a part of everyday life, and moving monies between currencies is an essential service that many people entrust to their bank. For a good number of years now, specialist foreign exchange and payment services companies have offered a secure and usually money saving service as an alternative to the traditional bank option. These “FX” companies, are essentially brokers specialising in the foreign exchange (FX) market, are able to obtain a much better deal than going to a bank which is passed on to you. The key phrase you will hear time and time again when talking to an FX broker is the ‘spot’ price or market price. How far above or below this level is achieved by the broker when exchanging your currency, determines the return achieved for the client. UK legislation in the form of the Payment Services Regulations, came into force in November 2009, requiring that anyone providing payment services, including money remittance, as a business needed to be authorised for registered with the Financial Conduct Authority (the FCA). For multi-national businesses, currency management is essential right and, from the start, we at Lemon Tree have always advised clients with any kind of currency exchange requirements to talk to an FX broker from the outset. This also applies to inbound international payments and, with foreign buyers now playing an increasing role in UK property ownership, this service ensures that cleared funds are received safely and securely - thus ensuring smooth transactional payments. Lemon Tree work with, and only recommend, FX brokers who are regulated by the FCA in order to ensure that clients receive the best safe and efficient service.