The advent of the internet has brought a lot of opportunities for people. And one of those opportunities is in the sending and receiving of money world wide through the internet.
This money transfer ease have also brought lots of business opportunities for entrepreneurs in the form of online currency exchange. Online Currency exchange is a lucrative online business venture that you can start and make lots of money from.
Being an Online currency exchanger simply involves you buying and selling currencies for various online payment websites. Most of these online payment website do not sell currencies directly to their clients and customers but through the aid of currency exchangers who serve as their agents spread across various countries of the world.
The chief reason for this is because their clients coming from various countries would certainly have conventional means of making payments according to their country’s financial regulations. As some Country’s Authorities may not allow sending money via Western Union or funds transfer while other countries may be barred from financial transactions with other countries.
More still some online payment websites do not accept some countries citizens as their clients mainly due to that Country’s tendency for fraud or financial crimes.
As an accredited exchanger, you would buy and sell directly with the clients of the payment website as well as also ensure your exchanger account is loaded with funds in order to fund your client’s account.
Online Exchangers make profits through commission they charge for every currency they buy or sell to the clients. This commission may be between 2% – 15% per currency depending on some other factors.
The business could be more profitable if you have lots of clients as the more clients you have the more commission you get from transactions. Being an exchanger for lots of online payment websites would definitely be another advantage for you success.
Having a good website and a physical office address would stamp you integrity and help you attract more clients and ultimately make more profits as an online currency exchanger.
Please find below some popular Online Payment websites and Forex Companies where you can register as a Partner or Currency Exchanger.