Open accountContact


One Cancels the Other (OCO)

An OCO can be a very useful tool for clients with a specific target rate and time to play with. They’re comprised of 2 parts: a Limit Order and a Stop Loss.


You choose your desired exchange rate, often your budget rate, and our system will lock it in automatically the second it gets there. These are useful as neither you or your broker can always be around to catch market peaks and troughs. On the GBP/USD pair for example, quite often important data releases are scheduled for 7pm UK time. This will run 24/7 so you don’t have to worry about your next trade and can get on with more important tasks.

These often but not always work in tandem with Stop Losses:


Like a Limit Order, the Stop Loss will trigger automatically as soon as the market reaches a preselected rate. Unlike a target rate however, this is used as a tool for protection. If you have a short time frame in which to make a specific payment, you want to take advantage of any market upside and target a higher rate but you also have a worst case scenario rate (potentially your budget rate) the Stop Loss can be very useful. Again, it will give you peace of mind in knowing that even if the markets falls dramatically out of your favour, you’re covered.

Forward contracts

A Forward Contract is essentially ‘buy now, pay later’. We use two main types of forward contract, window and fixed.


It can be a good idea to take advantage when a market is trading in your favour, but you may not have any payments to make just yet and you don’t want to tie up large amounts of cash buying currency in bulk on spot. This is where the Window Forward comes in useful. You simply book a specific amount of currency at today’s rate and nominate a date you’d like to be able to use the currency from and up until (the window). You’ll then make payments using your Forward Contract by drawing down the desired amount on the desired day and paying the proportionate amount of the base currency at the agreed Forward Contract price. This means that for as long as you choose, you’ll know exactly what price you’re paying for international payments. You can book a Forward Contract at a favourable rate and price an order with the contract in mind, guaranteeing ‘£X’ profit. Or you can wait until the market is better than your budget rate and book a Forward Contract, ensuring that you will never be at an FX loss.


Similar to the Window Forward in that you’ll book today’s rate and pay for it when needed, however this must be settled on a specific date in the future and not before. These are usually for specific invoices as opposed to Window Forwards, which are generally for bulk amounts. These tools give our clients comfort in knowing that their margins are protected. Together we decide how much should be booked on a forward and how much should be left to spot based on current market trends and their risk appetite.

Mass Payments

Make thousands of payments simultaneously with our mass payments capability. With a simple file upload, you can make payments to staff, suppliers or customers globally or domestically in minutes.

Contact us today to find out more