4X Currency Corporation, the world’s first online foreign currency exchange company, has today announced it is opening a new headquarters in Leeds. 
4X which also has an office in Brighton, provides an online platform (4X Dealer™), aimed at companies and consumers who need to covert currency and transfer it overseas. Because all of the trades are done instantly online by the customer costs are kept to a minimum.
Helen Scott, managing director of 4X said: “We are delighted to be setting up a second home here in Leeds. I am especially excited as this is my home town, so I have strong emotional ties to the city. However, the real reason we decided to move to Leeds is because it’s one of the biggest financial and business communities in the UK and we wanted to make sure 4X could tap into that.”
As 4X’s services are all online it doesn’t require any middlemen in the City on high salaries doing deals like the banks, which means it can provide much cheaper currency rates to its customers.
She added: “We are currently on a quest to try and make the foreign exchange industry much more transparent. We want to ensure the public are properly informed and understand the way currency deals are completed, as it can often be confusing. We have found that a lot of people decide to use their banks to change currency as it’s the easy option but they don’t realise they can save a substantial amount of money by hunting around. Our clients can actually watch the changing rate themselves and when they are happy with it they click their mouse and that’s the rate they receive – it’s a completely transparent service.”
4X is able to offer competitive rates because it has developed the first unique online foreign exchange system (4X Dealer™) which provides the end user with live dealing rates, and the ability to complete the currency purchase themselves. It’s free and easy to use and it allows the user to instantly make currency purchases without the need for long, complicated and costly phone calls to banks or other providers.
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Notes to editor:
· 4X won the Business of Tomorrow award at the Brighton and Hove Business Awards 2007 (BAHBAS)
· 4X operates in a unique and price transparent way, providing exchange rates that customers can actually obtain at that particular time, rather than rates that are merely indications based on the bank’s interbank rate
· 4X is a registered overseas money provider with HM Revenue and Customs
· 4X Dealer™ can process 2,000 trades per second and transfers can be made to any worldwide bank
· 4X Dealer™ has been designed especially with the business market in mind to enable companies to receive live, up-to-the-minute, market rates so that they select the most favourable ones available before making a transfer.
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