PureFX

An automated clearing house is an electronic network, enabling financial transfers between participant members. Read more

A currency basket is a range of currencies grouped together with different weightings, in order to minimise the fluctuations between them. Read more

Cleared funds are funds that have arrived in their destination bank account, having been processed. Read more

Simply put, a cable transfer is the transfer of funds electronically between bank accounts in different countries. Read more

Central banks (including the Bank of England and European Central Bank) are public institutions responsible for monetary policy within a nation or group of nations. Read more

The Consumer Price Index (or CPI) is a measure of inflation, used to determine changes in the price of household goods and services. Read more

A currency pair – believe it or not – is a pair of currencies. For example a common pair is GBPUSD, in which the first currency quoted here is the UK pound and the second the US dollar. Read more

A BACS payment is an electronic method of transferring funds between bank accounts. BACS stands for Banker’s Automated Clearing Service. Read more

Stop loss contracts are contracts in which – should the exchange rate drop below a certain point you decide – you are protected. Read more

LIBOR stands for London Inter-Bank Offered Rate. It is the rate at which banks transfer funds to other banks on the London finance markets. Read more