Eforexindia was conceptualized to address the requirement of large corporates and SMEs who would require an independent platform to know the live inter-bank rates of most currencies across the globe to convert their receivables or payables to and from the Indian Rupee. Currencies are extremely volatile and the rate applicable for the conversion, as of now, is being done as the bank converts it based on the prevailing Inter bank rate.
Hedging may also be required to be done based on the timing and date of the conversion which may be in the future and these would be done based on the forwards prevailing in that currency which is also volatile and depends on the inter bank quote at that point of time. This platform provides all forward rate including the ease of calculating for any fixed day in the future, a process which otherwise would be complex for the user.
Forecast, and estimation of future rates of any currency, is arrived at by Fundamental and Technical (charting) analysis of currencies that require training and can be done only by technicians who are adept to the process. Eforexindia has a highly trained team of traders and analysts who do the analysis on a continuous basis and these are then posted on the portal and can be accessed by the subscribers and are also updated through continuous emails. Thus a subscriber to Eforexindia can access live market quotes, analysis and forwards from a live and economical platform which otherwise was available from high end financial platforms for a select few.