If you have a currency exchange coming up and you would rather remove some or all of the risk then we offer forward contracts whereby you can actually lock into a rate of exchange for anything up to a year in advance for just a small deposit. The advantage 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 market not move in your favour.
A limit order is also a really handy 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. Limit orders are great in such volatile times as the markets are moving around a great deal.
Stop Loss orders
This contract type is the opposite of a Limit Order. It allows a client to protect themselves against adverse market movement by setting 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, 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.
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 exchange rates are then feel free to contact me directly.