Why do I want to establish an affiliation with Axiom?
Bottom line, we want to help increase your profit margins and reduce your foreign exchange risks. Axiom delivers an invaluable service for companies involved in international currency transactions. We provide our clients a cost-effective alternative to the banks to assist them in making smart foreign exchange decisions. Ensuring that our clients obtain dependable and up-to-date market information from knowledgeable and experienced Axiom associates is what has earned us the reputation of being a trusted and premier financial services firm.
How do I set up an Account with Axiom?
Call 1-866-522-5442 to speak to an Axiom Foreign Exchange Associate.
- Discuss with an Axiom associate your foreign exchange requirements
Examples include: type of currency, transaction amounts, frequency of transactions, future transactions and profit objectives. - An Axiom associate will assess your needs and create a personalized solution to meet your specific currency requirements
Examples include: hedging strategy required using forwards, weekly market watch and timing of foreign exchange, foreign payables, wire transfers, foreign drafts and how to receive your funds. - Set up your account and begin your affiliation with Axiom!
Account set up is free and takes only minutes.
What does an affiliation with Axiom cost my company? Is there a fee per transaction?
Setting up an account is FREE and there are NO transaction fees dealing with Axiom. Axiom is able to provide you better than bank rates, with no fees attached, because we are a total volume driven business and not a per transaction business. The banks typically charge 2% - 5% more per transaction because they work on a transaction by transaction basis.
How do I know my transaction is secure and that an Axiom cheque is going to clear?
Compliance and security is of the highest priority to Axiom. We would not be able to provide our services to our customers without adhering to the strictest and most secure transaction policies. All transactions are performed through our ultra-secure environment working with the industry's most respected and trusted technology and security partners. All your corporate information is encrypted, remains completely anonymous and is viewed only by your Axiom Foreign Exchange associate when required.
Axiom has strong relationships with banking institutions all over the world. Please feel free to have your banking institution contact our banks to verify. Our reputation and trusted service is what allows us to remain in this business.
How do I protect my profit margins against currency fluctuations?
An excellent FX hedging tool, the use of a forward contract to lock into an exchange rate in the future is the most effective way to protect your profits and reduce your exchange rate risk.
What is the difference between a forward and a spot rate?
A spot transaction is an agreement to buy or sell currency at the current market exchange rate. A forward rate is an agreement to buy or sell currency at a delivery date in the future. A forward rate will either sell at a premium or discount to the spot rate based on a calculation involving the interest rate differential of the country's involved.
What if I want to make a currency transaction at a specific rate?
This is called a Market Order. Calling your Axiom associate and placing a market order allows you to set your predetermined price and let Axiom watch the markets for you until your price is filled. There is no cost for this service.
Is AXIOM a foreign exchange speculator?
Axiom Foreign Exchange International is in the business of exchanging currency on behalf of our corporate clientele. We help our clients manage their FX risk by buying and selling the currencies used in their business operations. Axiom is NOT a speculator. Foreign exchange speculation involves taking on risk and trying to profit from the volatility inherent in the FX markets. Axiom was founded on the principle of helping our clients eliminate foreign exchange risk and providing great rates and service.
Does Axiom deal with all major currencies?
Yes, we work with all the major currencies involved in the global marketplace.
What is the size of currency transactions Axiom manages for its clients?
All of our clients have different currency needs. From as little as $2000 to $25,000,000, Axiom is able to provide currency solutions for all sizes of business.
Are the Axiom exchange rates offered better than a banks?
YES. Foreign exchange is our only business. We deal in large transaction volumes on a daily basis which enables us to offer our clients the best rates in the business.
Can I keep my relationship with my existing Bank and still use Axiom's Services?
Yes. Axiom is only in business to give you better foreign exchange rates than the bank. We do not provide savings or chequings accounts. You will keep all other aspects of your banking relationship intact with your financial institution and we will handle your foreign exchange.
Can Axiom provide same day service?
Yes, we provide same day service for all of our transactions. If you choose to swap cheques, Axiom will immediately send one of our Axiom Customer Couriers to your location, free of charge, to handle this transaction. Our Axiom couriers can also go to your banking institution to deposit the funds on your behalf, allowing you to continue working on your business. Our business is built on secure and timely service.
Can Axiom handle my foreign currency payables and receivables?
Yes, we can send and receive all your foreign currency wires free of charge. Do you have multiple payables? Not a problem. Just give us the list of payees and Axiom will guarantee they are paid in a timely fashion. Axiom will prepare your cheques and drafts payable to your suppliers according to the information and instructions provided by your company.
How can I be guaranteed my suppliers get their money on time?
Our business is based on accuracy and dependability. All of your funds will be tracked from order to delivery by your Axiom associate.
Are the Axiom international wire transfers safe & guaranteed?
Yes, we use the same international wire transfer service as all major banks. Our business is ensuring safe, secure, guaranteed and traceable delivery of funds. Each wire transfer is subject to a number of verification procedures to ensure accuracy. All transfer are executed based on client instructions only.
Why does Axiom certify all corporate client's cheques?
Axiom only deposits guaranteed funds. Our in-house Axiom Customer Couriers are responsible for certification of all uncertified cheques. This process is carried out to reduce the risk of dealing in foreign exchange and is an expense free of charge for our clients.
What is the difference between a wire and a draft?
International suppliers prefer to deal in their local currency. Foreign drafts are guaranteed cheques that are issued in the foreign currency of your supplier. Drafts are available in all major currencies. Drafts must be physically transferred, usually using a courier service. A wire or EFT (electronic transfer of funds) is a transfer of funds directly from one bank to another. It is most rapid, hassle free way to transfer funds.
What factors determine currency rates?
The value of a currency changes daily based on a wide range of different factors. The notable factors include: market supply and demand, interest rates, inflation rates, money supply, merchandise, trade balance, flow of capital, political factors and the relative strength or weakness of an economy.