Ways to buy Currency
Spot Contract
The Spot Contract is the quickest, easiest and
most popular way to buy currency. You simply buy or sell one currency
in exchange for another, whenever you need it. You have two days to
send us the money and as soon as your funds are cleared, we will forward
the currency to the account of your choice.
Forward Contract
The Forward Contract can help you take
advantage of current exchange rates. You can fix the price now for a
transaction that will take place up to two years in the future. You
secure the Forward Contract with a deposit of 10% of the total value of
your transaction (you'll need to pay this within two working days of
agreeing the contract)
and then pay the balance before the contract expires.
Once secured the agreed exchange rate will apply for the duration of
the contract.
Limit Order
With a Limit Order you specify the exchange rate
you are hoping to achieve, a price that may not be currently available.
Your currency will automatically be purchased if the market exceeds
this level and you'll get the rate you wanted. This type of contract is
particularly useful when the markets are moving in a positive direction
for you.
Stop Loss Order
A Stop Loss Order will instruct your broker to
buy if the currency goes down to a pre-determined level. When combined
with a Limit Order you can hold out for a better exchange rate and still
protect yourself from a sudden fall in the market.
