Limit Orders

Quite often our clients may have an amount of foreign currency that they need to pay but do not need to make it immediately. In this case many choose a live order.

If for example you have are based in Europe and need to make a USD payment of $USD25,000 the rate today may Euro/USD 1.35 you can request a live order for 1.37 which we lock in for you.

TransferMate book currency 24 hours a day 5 days a week so this rate may lock in early in the morning or in the middle of the night. Orders that are triggered overnight become binding. Once the market hits, your currency order is automatically booked and you get your currency for better than was ever possible.

This is particularly useful where the currency you need to buy is moving within a range and you want to make sure you get the best rate.

Live Order with a Forward

You may require £100,000 over 2 months but not want to use it all right away. You can book a live order and pay a 5% deposit to hold this for you and use your foreign currency as you need within those 2 months.

In this insteance if Euro/GBP averaged .88 - .895 and the rate was currently .885 you might put in a live order for .894. Once this hits you book your currency for the next 2 months at the better rate.

You will be notified by phone and/or email if orders have been triggered. When leaving a limit order with us, you must instruct us of the currency to sell, the amount to sell and the desired exchange rate.

Business and private clients can leave orders but generally the amount needs to be greater than USD$50,000 to be accepted. We may also require a small deposit to ensure performance of the contract occurs when the order is completed.