Contract Options
Simple and Effective Currency Solutions
It’s easy to over-complicate the buying and selling of foreign currency. So why make things difficult for yourself? Halo Financial can provide you with two simple contract options.
How can currency be bought or sold?
Spot contracts
Standard Spot contracts enable you to immediately agree an exchange rate to buy or sell currency for settlement, unless otherwise agreed, within 2 business days of the date the contract is initiated.
Currency bought or sold through Spot contracts can be transferred to your beneficiary account for same day delivery assuming we receive cleared funds in good time before the banks cut-off times. (Subject to what currency being transferred).
Customer benefits:
- Best for urgent transactions
- Trade now / Pay now
- Simplicity
Forward contracts
Forward contracts enable you to immediately agree and fix an exchange rate to buy or sell currency for settlement on or before an agreed date up to 24 months in the future.
Customer benefits:
- Eliminate uncertainty
- Guarantee a favourable exchange rate to be applied to a future transaction
- Protect against adverse foreign exchange rate movements
- No need to monitor daily exchange rate movements
- Stress free
In order to fix and guarantee the exchange rate for a later settlement and delivery, you will need to pay a 10% deposit (known in the trade as a ‘margin’). This needs to be deposited in a Halo Financial transaction account within one business day of agreeing the transaction. The 90% balance is payable 2 business days before the contract matures.
Click here to open a trading facility with us now, phone one of our team on +44 (0)20 7350 5474, send us an email or if you would like us to call you back when it is more convenient please use the Call me back facility.
