I&M Bank launches real-time forex trading for clients

This follows the launch of FX Direct, a new digital platform that allows customers in the three categories to track currency behaviour in real time before making decisions on key transactions.

Further, the bank notes that the platform will eliminate the traditional need for physical dealer interaction, offering users the ability to buy and sell foreign exchange, manage limit orders, and monitor live market rates from anywhere, in turn offering customers convenience.

“The rates that will be offered to the customers are individualised. Each customer will have a rate that is specific to them because it also speaks to the currency pairs they use; it also speaks to the volumes they deal with; it speaks to the length of the relationship we have had,” said Kihara Maina, Group CEO, I&M.

“When you are dealing with international payments for a future date, importers or exporters, for that matter, have the option to pay now and wait for the goods to come, or they may agree with the suppliers that once you ship, then I will pay, that means in the future,” said Henry Kirimania, Director for FX markets, I&M.