Currencies.co.uk have a range of contract types that can be tailored to suit your specific circumstances, below is an overview of our most popular currency contract types:
A spot contract is when a currency is either bought or sold and is required for prompt delivery. Once the contract is entered the client has two working days to settle and when funds are cleared with currencies.co.uk we will arrange the onward transmission to the bank details the client specifies. Funds are sent via a swift transfer which is the fastest and most secure method of sending money abroad.
A forward contract is where a client can fix a rate of exchange for a period in the future which can be as far as two years ahead. To fix the exchange rate, only a small deposit is required and once the contract is agreed it means that regardless of what happens in the currency markets the client knows exactly how much they have bought, in other words the contract is not subject to exchange rate fluctuations. This contract option is perfect to help clients budget and protect themselves from market volatility.
If a client has a target rate of exchange that they would like to achieve but the market is not currently at that level then it is possible to place a limit order which means that should the market move to the clients desired rate then the systems at currencies.co.uk will automatically purchase the currency, which means you can take the stress out of watching the markets and let us do the work for you.
A stop loss contract is the opposite to the limit order as it allows a client to put a rate of exchange in the system that is their bottom limit, i.e. the clients worst case scenario. This is a level that, once set with currencies.co.uk, means should the market move against you that level is protected and with our systems you can guarantee that you will not get an exchange rate worse than that.
All the contract options we offer are execution only and are non-speculative which means we are a non risk entity and always ensures your funds are safe.
For more information or to discuss your specific requirements please call our Dealing Floor free on 0800 328 5884 or fill in the form on the right and one of our experienced dealers will call you back.