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30th September, 2016

Everything you need to know about currency buying tools

Everything you need to know about currency buying tools

Are you looking to buy abroad soon? Yvonne Pexton from IFX explains the currency buying tools that you might not be aware of. International investors can utilise these methods to ensure they get the most out of their foreign exchange, retain budgets and secure desirable rates of exchange – for up to 2 years.

IFX are able to ensure that clients achieve their goals on their international property through sales and purchases. Below are some tools that are frequently used by corporate clients and private investors -whether they are frequent investors, or first time international buyers trying to make the most out of their savings.

Live Market Orders

Whether you have the flexibility to wait for favourable markets or need to protect a budget position, IFX market orders will open options and give you control. Our orders are live 24 hours a day, 7 days a week, which means whenever your ordered levels are reached, your currency will be secured at your desired rate.

The live market orders frequently used by our private clients are Limit and stop-loss orders.

Orders are placed to achieve the best possible exchange rate within any given time period. Nominate your target exchange rate and IFX will monitor market movements and execute the trade once your desired rate is reached.

What is a spot loss order?

Orders act as a safety net mechanism, allowing you to nominate a lower exchange rate that will protect your budget in the event of a sudden fall in the market.

Limit orders and stop loss order are often placed hand in hand – as a one cancels other which means you will no longer need to worry about currency market volatility. You will be in full control of your finances and will have the time to focus on other aspects of your property transaction.

What is a forward contract?

With overseas transactions involving a payment in the future, or a series of payments over time, a Forward Contract will protect you from adverse market movements during the period of the transaction. You can fix an exchange rate for up to two years in advance, with the option to draw on the funds at any time.

What is a spot contract?

If you have funds available and wish to exchange all or part of them immediately you can enter into a Spot Contract. We will secure the best rate available at time of instruction and your currency will be available for transfer to any account worldwide the moment IFX has received your cleared funds.

If you have an upcoming currency transaction, you can call the Fine & Country desk at IFX today on 0203 301 7261 or alternatively email fx@fineandcountry.com

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