There are many ways to buy foreign currency - FC Exchange offers you a wide range of options - all of them offering very competitive rates, no hidden fees, no commission and with total peace of mind. If you are not sure what type of contract you want, why not call us and we can guide you through the various options that see which type will suit you best. Call us on +44 (0)20 7989 0000.
Spot FX
The spot contract is the most basic and popular foreign exchange product. Spot contracts are used when currency is required immediately. It enables you to buy the currency at today's live rate and the currency will be available to you on receipt of your cleared funds.
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Forward Contract
Forward contracts are a "buy now - pay later" solution to avoid currency market risk. You will be able to lock into a favourable exchange rate today for currency that you need up to 2 years in the future.
All that is required is a deposit of 10%. The balance is only required on the delivery date of the contract and can remain in your bank account earning interest.
Forward contracts are widely used by property buyers as transactions often take weeks to conclude, leaving buyers exposed to a volatile currency market. They are also useful for stage payments on new builds and are a vital risk management tool for large corporations.
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Stop Loss Order
Protect yourself against a sudden adverse movement in the exchange rate using a stop loss. This type of foreign exchange has become more popular - simply specify the minimum rate you need to achieve and the stop loss will automatically ensure that your currency is purchased if the exchange rate falls unexpectedly. This allows you to hold out for a better exchange rate while protecting yourself against a sudden fall in the market.
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