Over the last decade the personal foreign exchange allowance has increased from a once-off R350 000 to an annual amount of R10 million. As a result, more and more people are looking at how they can transfer funds offshore to mitigate the continued fluctuation of the Rand. Currently, South Africans generally still deal with banks when it comes to Forex transfers. However, internationally it has become the norm to trade Forex using a specialist online broker.
The Forex market and the local regulatory environment can be quite daunting for an individual. Click FX offers a friendly, intuitive and reliable way to get a great rate when buying or selling Forex. As part of the Forex People family, Click FX benefits from the huge volumes traded every day, ensuring sharp exchange rates, low fixed bank fees, smooth processes and professional, friendly support staff; all via a secure online platform.
“What’s great about ClickFX is that it brings the bargaining-power of several hundred regularly-trading importers and exporters to the man on the street, via a secure online service,” says CEO, Richard Beddow. “Whether someone wants to send a large lump sum, or small regular amounts, the cost effectiveness and simplicity of ClickFX means anyone can send funds offshore as and when they want.”
Established in 2003, ForexPeople is a Johannesburg-based, privately-owned and managed, independent Foreign Exchange intermediary. It is regulated by the South African Reserve Bank, the Financial Services Board and the Financial Intelligence Centre. Recently clients have become more comfortable with technology and are now booking Forex trades using email, SMS, WhatsApp and Skype. ForexPeople identified an inherent need for a quick fix to Forex trading and this is where the idea for ClickFX originated.
ClickFX services individuals sending their allowances out of the country as well as expatriates bringing offshore earnings back in. “ClickFX is a fully-compliant Forex transfer service,” adds Richard Beddow. “It is not a speculative trading platform where people buy and sell Forex for personal gain.”
Using ClickFX is hassle free. Once registered, the system checks your FICA compliancy within 24 hours. You simply transfer the funds to your own Forex account, accept a rate, and trade. Within two days your Forex arrives in your offshore account, which ClickFX can open for you – if you don’t already have one.
You no longer need to be a wealthy individual in order to have an offshore portfolio. ClickFX proves that buying or selling Forex doesn’t have to be complicated or expensive but can be as easy as the click of a button.
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