More Retail Branches Closing: Tier 1 FX Dealing Forging Ahead
The number of retail branches shutting their doors is growing. Tier 1 FX dealing is moving forward as a result. This article is about the current situation in finances and where you can find the high risk merchant account with the best terms and rates.
FX Trading & High Risk Merchant Account
By Forex (FX) trading, which is also called foreign exchange, you should understand the conversion of one currency into another. For years, analysts have been telling that retail companies have been shrinking. Today’s reality shows that the future is going to rely on liquid markets, including FX, centralization, technology and electronic trading.
The recent COVID-19-related lockdowns almost in every corner of the world cost huge amounts to businesses depending upon physical sales. If you, as a merchant, are looking for ways to get out of the current financial crisis, turn to an expert merchant services provider. A true merchant processor will approve you for the safest and cheapest merchant services, such as a high risk merchant account, without further ado.
Tier 1 FX Dealers
Let’s look at an example. So, as the situation is getting worse, Tier 1 FX dealer HSBC is no more content with the business model it’s been using. The thing that HSBC is working on putting a new business model in use and contracting its commercial size speaks of the move to the FX trading core business activity by Tier 1 banks.
So, what does the field show today? There’s more concentration on FX dealing as compared to what’s seen on the retail and commercial banking spaces, as it’s the case with HSBC and lots of other Tier 1 institutions. In fact, making and FX dealing account for $5 trillion (daily) global market, representing the top tier.
FX, which is a liquid and extremely lucrative business featuring very low operating costs for a big bank. Branch networks don’t need to deal with small accounts with low interest or to offer small, high risk loans.
To sum up, the traditional top tier entities can stay afloat only by being serious about their core business. The number of retail branches getting shut is increasing, and Tier 1 FX dealing is moving forward successfully. A bank-free and electronic future is coming closer.
Author Bio: Blair Thomas has been a music producer, bouncer, screenwriter and for over a decade has been the proud Co-Founder of eMerchantBroker, the highest rated high risk merchant account processor in the country providing the safest and cheapest high risk merchant account in the industry. He has climbed in the Himalayas, survived a hurricane, and lived on a gold mine in the Yukon. He currently calls Thailand his home with a lifetime collection of his favorite books.