Foreign exchange (FX) – the basics
Currency markets are constantly fluctuating, so knowing when to make your international payments can be tricky. And in today’s economic climate, it’s more important than ever to make the most of your money.
A currency specialist can help you do just that. They will ensure you understand all the options available and can provide expert guidance on the currency markets.
To help you get to grips with things, see below for a brief outline of the tools/products that an FX specialist is likely to offer. | | All information is treated in strict
confidence (although it will be passed a specialist currency exchange
professional in order to provide you with details
of the best products and rates available). By submitting the form to us you are deemed to have
authorised any such disclosure. |
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Spot contracts
Buy or sell a currency for immediate delivery. Spot contracts are suitable if you want to receive your currency quickly and efficiently. Using an FX specialist should also mean that you benefit from better exchange rates.
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Forward contracts
Book to buy/sell your currency in the future, at a rate you fix today. Forward contracts will protect you against adverse currency movements and can be used to lock into favourable exchange rates.
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Stop loss orders
Set a minimum level at which you will buy/sell your currency. Your order will be fulfilled automatically if this rate is reached in the markets. Effectively, this guarantees a minimum rate at which your currency will be exchanged.
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Limit orders
Set a higher target exchange rate at which, if this rate is achieved, you buy or sell your currency.
If you run a limit order in parallel with a stop loss order, the exchange rate at which you trade is guaranteed within a given range, giving you the advantage of predictability – which means you can plan ahead more effectively.
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Regular payments
If you need to make regular international payments, you can arrange an automated "regular payment plan" with a currency specialist. This type of service takes the hassle out of regular overseas transfers, as the funds are collected by Direct Debit and automatically sent abroad. Click here to find out more.
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Contact Moneycorp for further advice
If you want to save time and money then open an account now with this link:
Or get one of the Moneycorp team to phone you (saving you the price of the call). Just click on the phone icon, type in your telephone number and someone will call you straight back...
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