Thu Jun 30 2022

Integritas vs FX Brokers: What’s The Difference?

It has long been known that traditional FX brokers are incentivized to secure their clients the best price by offering rate comparisons and exchange rates remarkably close to the interbank (real) exchange rate. The difference between the ‘real’ exchange rate and your exchange rate is, of course, where the broker’s profits lie.

If these initial rates were to remain constant, the broker would never secure larger revenues and will unlikely remain an FX broker for long. This is an underlying issue with the traditional brokerage industry built to beat the banks; the amount you save your clients as a broker is relative to the amount of revenue you generate, meaning there is always a conflict of interest.

Integritas is an online alternative to over-the-phone currency brokers that helps UK businesses trade overseas to achieve the following:

Secure fixed 0.15% currency markups with no fees, and full visibility of the live interbank (real) exchange rate

We have no incentive to increase markups over time because we do not rely on commissions. We are a small team of previous currency brokers that let our technology do the heavy lifting for us, giving our clients the ability to manage their FX payments independently, and therefore keeping our overheads low. The end result is that price remains both competitive and constant.

Our competitors tend to increase their overheads as they have grown, which will often be reflected in the price they offer their clients. We recommend using our Free Currency Calculator to verify your charges in seconds.

We are so confident in our ability to consistently deliver on price, we show the live interbank (real) exchange rate, and even when we do get beaten on price, it is only a matter of time before the competing broker realises that increasing their markups isn’t possible.

Replace FX-related sales calls with automated exchange rate alerts

When brokers find it difficult to compete on pricing/service, using the markets as part of their value proposition is common. Now those busy MDs/FDs with endless other commercial priorities to tend to within their business lose time by listening to historical market reports and forecasts, usually at the cost of an added premium to their currency markup.

The issue, of course, is that just about everyone has an opinion on where markets may go, but no one has the ability to predict with certainty, meaning securing the best exchange rates is better relied upon with a reactive solution as opposed to a speculative one.

Integritas offers automated exchange rate alerts that trigger in line with the real exchange rate, meaning you always know where the markets are and have the freedom to reserve the best ones when they’re available.

Being notified of the exchange rate in real-time not only means you access the best exchange rates instantly online, but also gives you full transparency over the real exchange rate, meaning you never have to worry about your currency markups (price) getting worse over time.

So what’s the real difference between using an FX broker vs using Integritas?

It’s simple. We automate what brokers do, removing the speculative ‘edge’ that offers very little in terms of tangible value, and in doing so benefit from being able to offer fixed 0.15% markups on currency conversions. We then give our clients access to a simple online payment platform so that technology replaces the human requirement to process payments, meaning our price point remains consistent, as does our level of service.

Don’t just take our word for it, see what our clients think of us.