OFX GROUP (OFX) Shares
ABOUT OFX GROUP
OFX Group Limited was previously known as OzForex and is an Australian online foreign exchange and payments company with head office in Sydney.
The company provides money transfer services to Travelex, MoneyGram, Xero, ING Direct, and Macquarie International Money Transfers as well as individuals such as migrants and expatriates and small businesses.
The company was started by Matthew Gilmour in 1998 while working as the head of foreign exchange at Bankers Trust.
It operated several different brands that include UKForex, CanadianForex, NZForex, USForex as well as ClearFX and Tranzfers before a brand change to OFX was done in 2015. OFX Group Limited provides single and recurring transfer, foreign exchange, and other related services to clients worldwide.
OVERVIEW OF OFX GROUP
- OFX Group Limited provides international payment services in defined geographic regions based on client location and global payment solutions.
- Operating segments include Customer Australia and New Zealand, Europe, North America, Asia and International Payment Solutions. International payment solutions are offered as package which consists of customer service, compliance sophistication, banking relationships and payments capabilities, to strategic partners.
- They also offer a mobile application that allows users to make single transfers, keep track of their transfers, view live exchange rates, review all started and completed transfers, call or e-mail direct to personal and business customer desks.
- They can also view daily and weekly foreign exchange news.
VISION & VALUES OF OFX GROUP
- OFX Group Limited’s mission is to lead the age of borderless money by bringing a human touch to the technology, as well as insight into the transactions and transfers that power a wider approach to the world.
- They are committed to helping customers thrive in an ever-changing world and participate with confidence in the world economy.
- The group is constantly testing, learning and sharing to meet the changing needs of customers, but never forget the power of the human touch in an increasingly automated world. They are committed to keep moving their technology, systems, service, people and their customers forward.
- OFX Group Limited follows this sustainable value chain to ensure that current and future needs of both customers and shareholders who purchase shares with the company are met.
MARKET PERFORMANCE OF OFX GROUP
- OFX Group Limited’s shares trade on the Australian Securities Exchange (ASX) under the stock symbol OFX, listed in the Financial sector.
- Highlights of the company’s performance in 2019 include revenue of US Dollar 130.23 million, net income of US Dollar 17.61 million and profit margin of 13.52%.
- Its balance sheet shows total assets of US Dollar 246.99 million, total liabilities of US Dollar 175.63 million and nil debt to assets. Operating cash flow was US Dollar 18.90 million.
- Due to OFX Group Limited’s continued good performance on this market shareholders can buy or sell shares with confidence and expect sound dividends and returns in 2019 and further.
Buy OFX GROUP stocks / shares – A Step by Step Guide how to Buy / Purchase OFX GROUP Stocks or Shares online.
Before buying any stock or share one has to consider a few factors.
STEP 1: PROPER RESEARCH IS ESSENTIAL
Upon deciding you want to buy OFX GROUP Stocks / Shares, it is critical for the serious investor to do proper research into the said company. Its values should align with those of the investor’s current portfolio. An investor needs to familiarise himself with the basics and history of the company, as well as its leadership and performance in the market. Its company reports should also be scrutinized.
Consultation with a brokerage firm can also assist in determining whether investing in a specific company will complement the investor’s current portfolio. The investment “risk ladder”, which identifies asset classes based on their relative riskiness, is another useful tool when determining which company’s stock / share is the best to buy.
STEP 2: CALCULATE THE AMOUNT OF INVESTMENT IN OFX GROUP STOCKS / SHARES
It is important for an investor to monitor his total investment in stock in order to keep his portfolio aligned to his investment strategy. The overall value of his holdings will change with the fluctuation in stock prices, which can throw his portfolio off balance. To determine the amount to invest, multiply the number of shares of each stock by its current market price to determine the total investment in that specific stock. For example, if you own 100 shares of a US Dollar 5 stock, multiply 100 by US Dollar 5 to get US Dollar 500.
STEP 3: DECIDE ON THE STOCK / SHARE ORDER TYPE
Investors can choose from a market order, a limit order, a stop order (also referred to as a stop-loss order) or a buy/sell stop order. It is important to familiarise yourself with each type’s pros and cons before deciding which one will suit your current stock profile best. An investor should be guided in this choice by his investment objective.
STEP 4: OPEN A BROKERAGE ACCOUNT
A brokerage account – also known as taxable investment account – is similar to a retirement account, but more flexible. Where a retirement account has limitations on the amount of money that can be contributed annually, and restrictions on when funds can be withdrawn, a brokerage account is more flexible. The latter has no income or contribution limit and the investor can withdraw his money at any given time. This flexibility, together with its potential investment gains, makes a brokerage account more attractive to serious investors. Brokerage accounts are ideal for goals or savings that are further than five years away, but closer than retirement. It can also supplement an investor’s emergency savings.
STEP 5: COMMIT AND PURCHASE OFX GROUP STOCKS / SHARES
Lastly, commit to the stock. Pro Tip: Monitor the value of your stock to ensure you have a growing stock value and dividend pay-out. Regularly check the share price online to ensure your investment delivers a positive return on investment. You are now a proud owner of OFX GROUP stocks / shares.
5 Questions to ask yourself before purchasing any stocks or shares.
- Is it the best time to buy this stock / share?
- Should I buy OFX GROUP stocks / shares in the current economic climate?
- Can I afford to buy this stock / share?
- What is the forecast of the stock / share growth?
- What is the current price per earning ration on the stock / share?