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Contract Definitions

Here you’ll find straightforward definitions of the most popular currency contracts.

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Here are some straightforward definitions of the most popular currency contracts. For a more detailed explanation, please contact a Pure FX currency dealer.

Spot Contract (buy now - pay now)

This contract enables you to send currency straight away. We confirm your exchange rate on the phone. Then, once we have received the full settlement amount, we transfer your currency to your nominated beneficiary by priority same day transfer.

Forward Contract (fix rate now - pay later)

This contract enables you to fix the exchange rate at today’s value for a specific time in the future, called the maturity date. You are able to say when you want delivery of the currency and this can be any length of time between 1 week and 12 months. Forward contracts may or may not require a deposit.

Time Option

Is similar to a forward contract although you are able to draw down funds before the maturity date as and when you require the currency.

Limit Order

An order where you agree to buy or sell currency at a specific rate that is not currently available. With a limit order you are waiting for exchange rates to improve. It is free of charge and good until cancelled.

Stop Loss Order

This is where you agree to buy or sell currency at a specific exchange rate. A stop loss does what it says in the sense that it offers 24 hour protection from negative exchange rate movement, whilst giving you the opportunity to benefit should exchange rates improve. Like a stop loss, it is free of charge and good until cancelled.

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Why Us

FCA Authorised E-Money institution

Authorised by the UK’s Financial Conduct Authority, so you can rest assured that we’re handling your money responsibly.

Exceptional Service

We have received Feefo's Gold Trusted Service Award 3 years in a row.

Same Day Transfers

We can transfer your money to your destination bank account the same day you send it, once we’ve confirmed the payment details with you.

Competitive Exchange Rates

Competitive exchange rates and transparent transfer fees, so you know exactly what you’re paying for.

Dedicated Personal Service

To guide you through the transfer process and keep you up-to-date with the changing exchange rates.

Established in 2006

Since then, we’ve transferred money for thousands of satisfied clients.

How It Works

  • 1. Register

    for a no obligation account
  • 2. Agree the exchange rate

    with your account manager over the phone
  • 3. Send us payment

    for the transfer of your purchased currency
  • 4. We transfer the currency

    to your nominated account
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