Money Transfers with Forward Contract

UKForex Money Transfer

£1000 minimum transfer

£7 fee for under 3K - No transfer fees over 3K

Sameday delivery on major currencies

Fsa authorised and regulated

UKForex Money Transfer Review is a Money Transfers with Forward Contract with transaction fees of £7 fee for under 3K - No transfer fees over 3K

World First Money Transfer

£5000

Free over £5000

Sameday to 48 hours

FCA authorised and regulated

World First Money Transfer Review is a Money Transfers with Forward Contract with a minimum transfer of £5000

GCEN Money Transfer

£200 minimum transfer

£15 fee for under 5K - No transfer fees over 5K

Sameday delivery on major currencies

GCEN are FCA authorised

Money Transfers with Forward Contract like GCEN Money Transfer Review are quick and simple with a timescale of around Sameday delivery on major currencies

FC Exchange Money Transfer

£5000

£10 flat fee when under £10,000

Sameday on all major currency transfers

FCA approved

Money Transfers with Forward Contract like FC Exchange Money Transfer are quick and simple with a timescale of around Sameday on all major currency transfers

Currency Solutions Money Transfer

£3000

£15 fee for under 5K - No transfer fees over 5K

Sameday delivery on major currencies

Fsa authorised and regulated

Money Transfers with Forward Contract like Currency Solutions Money Transfer are quick and simple with a timescale of around Sameday delivery on major currencies

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What is a Forward Contract?

A forward contract is one of the most commonly used currency options in foreign currency hedging. It sets a rate of exchange for a date in the future and offers 100% protection if the currency exchange rate moves against you. There is no premium to pay to enter into a forward contract. Forward contracts are popular as they can help you to reduce the risks of fluctuations in the currency markets which affect any business that trades or has assets overseas.

One of the main benefits of forward contracts without having to use up valuable working capital.is you can lock in an exchange rate for a specific amount of currency with a forward contract so that you can use it at a later date. This can be crucial for businesses that import or export goods overseas where they can now protect themselves against changes in foreign exchange rates and other foreign exchange risks.

Consider that a small variation in the foreign exchange rate could cost your business thousands of pounds if not managed properly and if that rate continues to move downwards could eat all your profit and really hit your bottom line and asset base.

There are two main types of forward contracts for currency exchange

Fixed forward contracts

You take delivery of your forward currency on a specific date in the future.

Open forward contracts

You can take delivery of all the foreign currency at once, or drawn down smaller amounts as you need them – up to the amount of the value of the contract.

Advantages

100% protection if the rate moves against you
No premium

Disadvantages

0% benefit if the rate moves in your favour

If you’d like to protect your bottom line by locking in a rate and still benefit if the rate moves in your favour then Currency Options could work for you.