Buy Forex online and Do it as you please

by Pooja Late so cut

Buying forex in India has traditionally been limited to brick and mortar businesses. A person would need to visit each bank or moneychanger store in their locality. Enquire about the exchange rates and service costs of buying forex from them. Finally, compare the costs of each bank and moneychanger to find the best option. This is such a time-consuming process. In addition, forex has become a monopoly. Banks and moneychangers charge between 2.5% to 3.5%. Forex stores at airports charge 16% to 18% on currency exchange, keeping forex costly!

How to buy forex online

Here are three simple steps to buy forex online in India.

Visit an exchanger website or download their mobile app: Select your forex requirements like currency exchange, money transfer abroad or buying forex card. Select the currency and enter the amount required.

Input your location: Get the list of moneychangers near you. Compare the exchange rates, service charges, and ratings given by previous customers. You can also filter forex stores based on the availability of door delivery, whether door delivery is free and zero transaction fee charging stores. Choose the best forex center near you.

Place your order: Once you are through with the two steps above, you can place your order. Enter your email and phone number. Choose your preferred payment method i.e., via cash, bank transfer or payment gateway and place your order. Once the order is placed, the order summary will be generated on your screen and an email and text message with the details of the order would be sent to you.

After the order summary is generated, a customer support team will contact you via phone within a matter of minutes to confirm the order

Pros of Buying Forex Online

· Freeze exchange rates – When you place a forex transaction, the exchange rate can be frozen for a maximum of 3 days.

· Impeccable customer service – Exchanges gives you a dedicated and impeccable customer service to process your forex requirements on a priority basis. Get forex within 24 hours of placing an order. In addition, our customer care executives will guide you throughout the forex ordering process. You will receive timely updates via mail and SMS regarding the status of your order.

· Easy modes of payment – Buy foreign currency online and pay for it easily. Available payment methods include cash, credit and debit card, net banking, NEFT/RTGS and payment gateway.

· No hidden charges – Buying forex directly from banks and moneychangers may sometimes be subjected to hidden charges. Unlike that, in most platforms, all applicable charges are shown transparently and intimated to the customer beforehand. There are no hidden charges and no extra fees are charged.

Author’s Bio

Bean Sean, a forex expert in this post explores some tips on how to buy forex online. He also explored the various benefits of buying forex online.