Currency Exchange Methods
There are many ways to deal in currency. The ones we use for your foreign exchange are geared towards business rather than speculation - they’re there to help make sure the deal you get meets your commercial needs and protects your business relationships.
Spot FX
The simplest form of foreign exchange. Currency is bought at the live rate. As soon your funds have been received and cleared your currency is available to send.
Forward Contract
You fix your rate of exchange for up to two years. A deposit is paid depending on the contract length and currencies exchanged. When the transaction is executed, the balance is paid.
Stop Loss Order
Protects against sudden movements in the exchange rate over time. You specify the minimum rate you are prepared to accept, but if the rate falls below this, your currency is still purchased at the rate you agreed as your floor.
Limit Order
You set the point at which you are prepared to exchange. If rates reach this target, we’ll automatically buy or sell your currency.