How do I book a currency forward contract and fund later?

If you’d like to secure the current FX rate but do not yet have sufficient balance in your account, you can book a flexible forward to lock a forward rate for an extended period of time and make the FX trade once your funds arrive.

Go to “Foreign Exchange” (If you don’t have a Foreign Exchange tab on your interface, you can instead go to “Payments” > “Book FX trade“)

Choose the currency you wish to sell and the currency you wish to buy
You can enter the amount in the funding currency or the buy currency
Next, select a settlement date

As you’re booking a forward contract, we’ll be charging you 5% of your sell or buy amount as a deposit. Please ensure that you have enough funds in your sell or buy currency by the time the deposit is due. There will be no deposit charged if the contract duration is less than 3 days and the amount is less than 50,000 GBP and if the contract duration is less than 10 days and the amount is less than 10,000 GBP.

Review your trade details and click “Confirm trade“

After you’ve successfully booked the forward contract, your rate will be valid for your booked amount until your settlement date. You can book payments with the forward rate to make payouts or settle into your World Account in the buy currency.

If no payments are created, the system will automatically make the trade and settle the funds into the corresponding currency account. If no corresponding currency account is available, the trade will be cancelled and you’ll be charged a fee.

To book payments with the trade, you can click on “Create a payment” directly on the results page

Alternatively, you can also book payments for this trade by going to “Foreign Exchange” > “FX trades“, where you can locate the trade and click on “Add payment“