Whether you are purchasing a property in Las Vegas as a vacation home owner or as an investor, you want to do all you can to maximize your purchasing power and lower your costs. Foreign exchange is an important factor that foreign buyers often forget about when buying abroad, which can cost them more in the long run. As a Canadian buyer purchasing a property in the U.S. you will at some point need to convert your CAD dollars into US dollars. As an alternative to going through your bank, you may want to consider working with a wholesale foreign exchange dealer such as FIRMA Foreign Exchange. In addition to extremely competitive rates, FIRMA has currency brokers who can help you keep up to date with currency market news and keep an eye on the market fluctuations, so you can buy at the “right time” instead of at the last minute.
Exchange rates can swing up or down 1 to 3% daily, so timing is especially crucial in a large-scale purchase such as an investment property or vacation home. A 3% swing in a given day can mean a $3,000.00 CAD difference on your $100,000.00 USD home purchase. As part of our service, your broker at FIRMA is able to actively watch the rates for you and contact you when they see the rates moving in your favor.
FIRMA Foreign Exchange works with you to offer:
Savings – As a wholesale currency dealer, we have access to the live rate free of premiums. Typically, a bank will charge you 2-5%, or more, on the market exchange rate depending on your currency. All rates aside, because we watch the rates for you throughout the day we can help you to catch the CAD dollar when it is “spiking” against the US dollar, which means even greater savings. FIRMA Foreign exchange makes money through volume, so there are no commission fees or hidden fees for our services.
Security – FIRMA protects its clients against the unlikely event of fraudulent activity with financial institution bonds and insurance that put clients first. We work alongside your real estate agent to ensure the secure, timely and efficient transfer of your funds to an account specified by you or directly to your escrow company. We are also able to work with your escrow officer to let them know when the funds have been sent on your behalf and when to expect them.
Service – Our business grows by referrals and repeat clientele, so we are committed to individualized customer service. We have dedicated currency brokers who will be directly available to work with you and educate you about the market, so that you are able to make your own knowledgeable decisions—we are not in the business of high-pressure sales.
FIRMA is one of the world’s leading foreign exchange brokerages with locations across Canada, the United Kingdom, Australia and New Zealand. We have been in business for over ten years and have our headquarters in Edmonton, Alberta and are proud to be a Canadian company.
If you would like more information or want to compare our rates against your bank’s rates, please feel free to contact FIRMA Foreign Exchange for more details:
Private Client Specialist
FIRMA Foreign Exchange
303, 10310 Jasper Avenue
Edmonton, AB T5J 1Y8
P. 877.423.2217 (Toll Free)