How often do currency prices change?
In the foreign exchange market, exchange rates change continually. Traditionally, however, money transfer companies – banks included – set their exchange rate only once a day, adding a large margin on what they pay to cover any price movements that occur during the rest of the day. By contrast, Velocity Trade’s exchange rates are live, fluctuating on a realtime basis throughout the day, reflecting the underlying market activity. So, to make a transaction profitable to us (and cover our costs) we only need to apply a small margin to the rate in the underlying market at the minute you transact. You reap the benefits.
