Spot contracts are a useful option if you need to transfer money quickly because you need to meet an urgent payment or want to act quickly to stop your budget being affected by a falling exchange rate.
They’re safe, fast and efficient. But, if you have time to wait, there may be a better option. Register with us to discuss your needs and secure your trade within minutes.
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How it works
Once you’ve discussed your needs, your account manager will secure your funds at an agreed rate. As soon as your rate is locked in, you are contracted to send the money to Foreign Currency Partner’s client account within two days. This is an entirely separate ring-fenced account containing only client funds.
As soon as we receive your funds, we exchange it immediately at the agreed rate and forward it to your recipient or hold it on your FCP account.
Is it the right choice for you?
Most people choose a spot contract because they have an urgent need to meet a deadline. The funds need to be cleared in our client account within two days.
If you have more time you could fix the same rate for a longer period using a forward contract, or hold out for a better rate using a limit order.
Need some expert advice?
Simply fill in this form and we’ll give you a call to discuss your requirements.