Contract options

Forward contracts

If you have a currency exchange coming up and you would rather remove some or all of the risk then we offer forward contracts here whereby you can actually lock into a rate of exchange for anything up to a year in advance for just a small deposit. The beauty of these contracts is that you remove any risk and know exactly how much you are going to get for your money, and you probably avoid the stress that the next few weeks can bring. People seem to forget that playing with currency is no different to gambling, if you have a house purchase going through and you have already placed a deposit on a property then you are committed to send over the balance of Euros within an agreed period. By not buying these Euros you are risking thousands of Pounds of your own money should the referendum not go in your favour. For more information on forward contracts please feel free to email me directly djw@currencies.co.uk or call me (Daniel Wright) on 01494 787478.

Limit orders

A limit order is also a really handy market tool in this type of market. This is where you can set your sights on buying your currency at a level slightly higher than it is today. The orders are free, work 24 hours a day and can be cancelled or amended at any time should they not be filled. The orders are great in such volatile times as the markets are moving around a great deal, we have already seen a high/low swing of 3 cents this week on GBP/EUR – That is €6000 on a £200,000 purchase.  Should you wish to look at placing a market order then contact me (Daniel Wright) on djw@currencies.co.uk and I will have something set up for you.

If you have any questions or queries about the market or the services that we offer, or should you like to get a live quote to see just how good our award winning rates of exchange are then feel free to contact me directly.

 

For more news on foreign exchange rates and to request a free no-obligation quote visit www.currencies.co.uk