The principle concept of Midpoint is to create an open market for Foreign Exchange transactions. We achieve this by directly matching buyers and sellers of a currency. This effectively eliminates Bank & Broker's margins, spreads and excessive service fees from the process, thereby dramatically reducing the overall cost to the end client.
Registered users of the Midpoint system place their orders to either buy or sell currency into the system.
The Proprietary and patented Midpoint matching engine continuously scans outstanding orders on the system matching whole or partially offsetting orders as it finds them. The exchange rate is set at the published market midpoint at the time of the match. When an order is completely fulfilled through one or more matches, the exchange rate for that order is set at the average rate at which the orders were matched.
Clients receive confirmation of their matched orders, indicating the rate that has been achieved. We then add our single transaction fee and indicate the total amount that is to be settled by our client. A single click enables clients to confirm receipt of the information provided.
Clients instruct their bank to deliver the required funds to the Midpoint custody account operated by our partner Earthport Plc. Once we have received the cleared funds, we deliver the required foreign currency to the destination account that they have nominated.
"Midpoint offers their customers a platform for making online forex payments. They offer great value and are very efficient. I would highly recommend trying them out"
I have used Midpoint's currency service to transfer corporate funds from the US to Europe and found it to be efficient, easy to use and most importantly it saved my company 30%+ on wire transfer / bank charges.
Trustworthy and innovative service. As an expat, I use Midpoint to fund my overseas and home accounts easily and at a minimal cost.
Midpoint is an excellent platform to exchange large amounts of money, in which they offer the most competitive exchange rates, which are very close to the spot rate. They invaluably assist businesses to save money.
Having used various other currency brokers and banks and been involved with referring clients to currency brokers, I have found Midpoint’s to be the best. Once you have registered with Midpoint, the process is simple, transparent and quick. You feel more in control than with other brokers and whenever you might have a question, I have found Midpoint's staff friendly, clear and prompt. I would have no hesitation in recommending Midpoint.
I used Midpoint to transfer money abroad following the sale of my flat. I looked at various providers and found Midpoint to be the most competitive. Their staff have been fantastic throughout the whole process and I would highly recommend Midpoint to anyone. They saved me lots of money compared to using my bank. Try them out!