Types of Currency Options

Published on in Currency Guide by

What is a Foreign Currency Exchange Account and Currency Options?

Foreign Exchange Account and types of Currency Options available when opening a foreign exchange account receivable. No obligation to send or receive payments. Forward Contract currency options available when opening a foreign exchange account receivable. Foreign exchange Account is here to help you find alternatives to using your bank. When looking to exchange your currency exchange. By using the alternatives such as the foreign exchange companies listed. You get a better price and is the smart way to transfer money abroad.

  • Better Currency Rates – No Commissions.

International money transfer payments made easy with no commissions. Foreign Exchange Account has partnered with some of the UK’s leading service providers. In order for you to save money on foreign currency payments.

  • FREE Currency Exchange Quote.

Get a free, no obligation currency exchange quote and see how much you can save Foreign Exchange Account. Whether you have a regular or one-off international payment to make. Try our instant quote forms to the left and receive a competitive quotation in minutes.

Foreign Exchange Account and Currency Options

TorFX
1% Margin Rate
Excellent Foreign Exchange Rates, Free Transfers,
No Fees.
Get Currency Quotation!
Currencies Direct
1% Margin Rate
Excellent Foreign Exchange Rates, Free Currency Transfers,
No Fees.
Get Currency Exchange Quote
World First
1% Margin Rate
Excellent Foreign Exchange Rates, Free Transfers,
No Fees.
Get Currency Exchange Account
Worldwide Currencies
1% Margin Rate
Excellent Foreign Exchange Rates, Free Transfers,
No Fees.
Get Currency Quotation!

Forward Contract Currency Options

Forward Contracts is when you have five working days to one-year foreign exchange purchases. Protection against rate movements by guaranteeing your exchange rate with automatic updates at each stage of your transfer

This is the purchase of currency needed for a specific date in the future from five working days to one year in advance. An exchange rate and maturity date fixed with your account manager. Which secures your rate regardless of the future movements. On agreement, a deposit of up to 10% required. With the remaining balance due by the agreed maturity date.

Spot Contract Currency Options

A spot contract is when you have Immediate to five working days foreign exchange purchases. With automatic updates at each stage of your transfer.

This the purchase of currency that is needed for immediately up to five working days. An exchange rate agreed and the currency purchased on your behalf. A date agreed upon for when you need your funds transferred based on your payment method with your Personal Account Manager. And we will transfer the funds to the desired account upon receipt of your payment.

CaxtonFX also keeps you updated at every stage of your transfer with automatic e-mails confirming your trade. When your funds arrive and when they are transferred to the beneficiary. You will also be emailed a proof of transfer when your funds have been sent.

One Cancels Other Currency Options (OCO)

The One Cancels Other trade allows you to set a best and worst case scenario and the rate secured whichever level achieved first.

One cancels other where you are protected against adverse currency movements. So when aiming to achieve a better exchange rate you have set the worst rate scenario. You get automatic updates at each stage of your trade.

One Cancels Other is a combination of a Limit Order and a Stop Loss. Whilst an ideal to place a Limit Order and try to achieve a rate better than the current market position. There always a chance that it may not be achieved and the exchange rate could move against you.

Stop Loss (SL)

Stop Loss protects you against adverse currency movements by setting the worst rate scenario while you are trying to achieve a better exchange with automatic updates at each stage of your trade.

A Stop Loss works in exactly the same way a Limit Order does but offers you protection. Should the exchange rate start to move in the wrong direction for you. You can set a Stop Loss order as a worst case scenario, meaning that if the rate moves against you. You guaranteed that a worst-case scenario rate secured at a pre-agreed level so there no risk of the rate getting any worse.

Limit Order Currency Options (LO)

If there is a particular exchange rate you are looking to achieve, and have some time on your side then you can set up a Limit Order. A Limit Order allows you to set a rate that meets your expectation level. As soon as your desired exchange rate achieved. The currency automatically purchased for you regardless of what time zone it occurs. Once purchased your account manager will notify you to allow you to send in your settlement funds. Automatic updates at each stage of your trade

Time Option Currency Options

Time Option is when you have three working days to one-year foreign exchange purchases. With flexible time windows to take receipt of your currency earlier. Protection against rate movements by guaranteeing your exchange rate with automatic updates at each stage of your transfer

This is very similar to a Forward Contract but with the ability to access your funds between two pre-agreed dates. For example, if you don’t have a fixed date you need to transfer your funds you can secure your currency rate with a specified date range. Allowing you to pay for your currency when you want it transferred without any penalties.

Recent Posts

» «

Comments are closed.

Live Currency Calculators

1 GBP = 1.13774 EUR

1 EUR = 0.8789 GBP

Change Currencies

Free Currency Calculators Mobile App

Best iTunes currency converter mobile app

Free iTunes Mobile AppiTunes currency calculator mobile app for free. Find live currency exchange rates for your iPhone or iPad.

Best Google Play currency converter mobile app

Free Google Play Mobile AppGoogle Play currency calculators mobile app for Android phone. Free on google play getting live interbank exchange rates.

© 2018 Currency Calculators : All Rights Reserved : Google Currency Calculators - Bing Currency Converter- Yahoo Currency Calculators