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Types of Money Transfers Payment Options
Today there are so many options when it comes to sending your money home or internationally, so before you choose a quick solution like using your high street bank see what other options you have before hand. Currency exchange companies offer so many options to send your money overseas such as
"Money Transfers using forward contracts" - Forward contacts where you can setup personal or business forward contracts services to buy or sell currency pairs at a future date. Protect yourself against changes in the foreign exchange rate.
"Money Transfers with Limit Order" - Limit Orders is where you place a currency pair order to buy or sell a set of currencies at a specified price or better.
"Money Transfers with Order Cancels Other" (OCO) - One cancels other is a combination of two set currency pairs orders placed simultaneously where when one currency order is met and executed. Also when met the other one will be canceled.
"Money Transfers with Spot Contract" - Spot contract which is the current price at which a particular currency pair can be bought or sold at a specified time and place
"Money Transfers with Stop loss Order" - Stop loss order is where you buy currency pairs when it reaches a certain price but at the same time if the currency pairs decline to a predetermined price, the stop–loss order converts into a currency market order.
"Money Transfers with Time Option" - Time Option offers a consumer or business some degree of flexibility on the date the currency pairs deal is to be settled.
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