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ForexLens: Real-Time Transaction Audit & Cost Breakdown Service

A managed service where traders and business owners submit their pending or completed forex transactions (bank wire details, broker confirmations, payment intent) and receive a detailed audit report within 24 hours showing exact spreads, fees, slippage, execution timing, and comparable rates from 3-5 alternative providers. The service reverse-engineers what the trader actually paid vs. what they should have paid, then recommends specific execution venues or timing for future transactions.

SERVICE

28 weeks • 70% confidence

Value Proposition

Unlike opaque bank statements or broker dashboards, clients get a forensic breakdown of EVERY cost component and a concrete recommendation for their next transaction—often recovering 0.3–0.8% of transaction value. Banks hide spreads; this exposes them with proof.

Target Audience

Mid-market forex traders (managing $50k–$5M portfolios), international B2B companies doing 10+ cross-border payments monthly, and SME importers/exporters with recurring currency needs

Key Features

  • Transaction submission portal (PDF upload, manual entry, API integration with major brokers)
  • Automated cost decomposition: spread, slippage, fees, execution delay impact, FX rate timing
  • Benchmarking against live rates from 5+ liquidity providers (Wise, OFX, Saxo, Interactive Brokers, LMAX)
  • And more, with full implementation detail...

Tech Stack

Wise API, OFX API, LMAX API, Saxo API, Interactive Brokers API Python (cost decomposition algorithm, data pipeline) PostgreSQL (transaction + rate history storage) React (submission portal + client dashboard)
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Original Problem

Forex traders and international business owners struggle to understand hidden costs and execution mechanics in currency transactions

People conducting international payments or forex trading lack clarity on what actually happens during currency conversion—hidden spreads, slippage, execution delays, and opaque pricing from banks and brokers eat into their margins. Current solutions (banks, traditional forex brokers) don't provide transparent, real-time visibility into transaction mechanics, leaving users unable to optimize costs or predict final amounts received.

Score: 18.4% • 1 demand signal