Types of transfers

There are various types of currency transactions that we can offer you. Our team of dealers will establish your requirements and outline how each transaction can benefit you. They will offer you expert guidance and provide you with all the information that you require to make a sound and clear decision on which transaction to choose.

Spot

This is the most basic and popular type of transaction. It's a basic "buy now, pay now" system. This is done when the client wants to purchase the currency at "today's" rate, the client should arrange to have cleared funds in our account within 48 hours. We will then transfer the agreed amount of currency to the account specified by the client. It will take anything up to two working days to clear the funds in the foreign account.

Forward

This is when the client can secure themselves into a rate for anything up to twelve months down the line. The main difference between forward and spot being, it uses a "buy now, pay later" system. As currency markets tend to fluctuate, this can seriously affect the cost of what ever you wish to purchase. That's why a forward transaction can be used to take the clients risk out of the market.

Stop Loss/Limit orders

In this type of contract, you place an order with your desired exchange rate "upper limit"; you can also secure yourself against a downside in the market (stop) by also specifying a "lower limit". As soon as the market hits that rate, be it any time of the day, the currency is automatically bought for you.

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