Find the right contract option for you
Trade now, pay now...
A Spot contract is a ‘buy now, pay now’ type contract and is the fastest and simplest means of exchanging currency. Need it now? We can get on it right away, enabling you to exchange a specific amount of one currency for another at an agreed exchange rate for settlement and delivery of the funds within two working days.
It’s a simple, transparent, rapid transaction. We’re able to trade against the vast majority of freely tradeable currencies, not just against Pounds Sterling. The amount of currency or Sterling you need to buy or sell, the exchange rate and settlement date are all fixed on the day the deal is agreed.
Benefits of using a spot contract are:
- They are available in the majority of freely tradable currencies
- You'll get a fixed exchange rate
- You can get an extended settlement date with Halo Financial
- A fast transfer for immediate and urgent payments, often received and cleared within 24 hours
- Perfect for settling bills or placing money in your currency accounts quickly and at a great exchange rate.
Trade now, pay later...
Forward contracts enable you to fix an exchange rate to buy and sell currency for settlement on or before an agreed date up to 24 months in advance. It's a 'trade now, pay later' type contract and because the rate is fixed, it isn't affected by currency movements between the date it was agreed and the date the contract is due to be settled.
Your currency can be delivered earlier or later than the agreed settlement date either in full or in multiple payments on different dates by drawing down from the initial lump sum. Perfect if, for instance, you have bought an overseas property and need to pay different amounts on fixed instalment dates.
Benefits of using a Forward contract are:
- Eliminate uncertainty, simplifying budgeting
- Guarantee a transactional or annual budgeted exchange rate now for settlement in the future
- Protect future business against adverse foreign exchange rate movements
- Make multiple payments from the initial lump sum
- No need to monitor daily exchange rate movements, allowing you to concentrate on your core business
- No premium cost