Spot Contract

This contract type is used when a currency is bought and required to be transmitted quickly. Once this type of contract is struck clients get two working days to get the money to us. When payment is cleared Foreign Currency Direct will arrange the onward payment to the clients specified beneficiary. Internationally funds are sent via SWIFT which is the fastest international payment method.

Forward Contract

A forward contract allows a client to book and guarantee an exchange rate for up to two years in the future. 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.

Limit Order

When a client has a target exchange rate in mind and the transfer is not particularly time sensitive it is possible to place a Limit Order in the market. This means that should the market move to the chosen rateĀ our internal system will automatically purchase the currency, letting us work as your eyes and ears on the market.

Stop Loss

This contract type is the opposite of a Limit Order as it allows a client to protect themself against adverse market movement by putting a bottom level in the market at which they are willing to buy at i.e. a worst case scenario figure. This is a level that, once set with Foreign Currency Direct, 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 ensure your funds are safe.