A Forward trade
also allows you to know exactly how much you will be spending in advance, which is never usually guaranteed with this market! For example, you could find a house you wish to buy, call up and assess how much the price in your destination currency would cost you in Sterling, buy the funds at this price and know that the price of your property will not change before completion despite the continually fluctuating market.
You will be able to either make your payment in full or in multiple payments, meaning you could at first pay your deposit and then pay for the rest of your property at completion, and any other amounts in between.
A regular currency trades
service is also beneficial if you will be regularly transferring funds to your new country to pay, for example, a mortgage, bills, salary or pension payments, or simply covering the everyday finance your new life overseas. You can set up a regular currency trade to transfer the right amount of money you need every month, or at regular intervals to suit you – into your bank account in your new country. You have the option here to fix the amount of the new currency you receive every month, to fix the amount of Sterling you transfer every month, or to fix both currencies, using a similar tool to the Forward trade