Boutique FX broker consultancy SugarCane Capital announced its collaboration with automated FX market analytics provider Just. The partnership is aims to ensure SugarCane’s clients have absolute visibility over the charges levied by liquidity providers when making foreign exchange transactions, allowing transaction costs to be minimised.
It is often difficult for clients to understand exactly how much they are being charged on each trade, per currency or instrument with fast-moving underlying market. Just has developed technology that delivers high levels of transparency and empowers customers with an audit trail showing exactly what costs they are incurring across providers, currency pairs and instruments.
Robert Brown, CEO of SugarCane Capital, commented:
The pricing of FX products has long been a bone of contention, with clients struggling to make a fair comparison of what they pay different providers. Whilst growth in the non-bank brokerage market has delivered an element of price competition here, using the Just solution means intermediaries know they have to be transparent when disclosing charges.
Typically, banks and brokers trade with low execution fees and instead their revenue is generated by marking up the bid/offer spread. A lack of transparency in this can mean discriminatory pricing, but with a market that is fast moving and not centrally cleared, understanding the scale of this additional margin can be challenging.
Anders Nicolai Bakke, founder and CEO of Just, said:
Since our launch last year, we have analysed more than $40 billion in traded flow between companies and banks, and built a strong reputation in the Nordic market. Clients have been able to make significant savings on their foreign currency transaction costs as intermediaries are forced to be transparent with their fees. SugarCane is our first partner in the UK, and we look forward to working with them to ensure their clients benefit from the significant cost savings which are delivered by Just.
Robert Brown, added:
We know that the most sophisticated clients get better FX pricing from their intermediaries. For those SMEs currently using banks for their brokerage needs and who are doing at least £30m worth of FX turnover each year, this collaboration ensures they have access to the very highest quality trade tools which will in turn significantly reduce their transaction costs. In the event clients aren’t seeing a saving, we will refund the annual license fee in full.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.