FAQ

Other products and currency information

Q.

What is an Order?

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Answer

An Order allows you to select the rate of exchange you want to achieve. We will monitor the market for you 24/7 and send you a confirmation email if your selected rate fills. There are two types of Order's available:
  • Profit Order - achieve an exchange rate better than what the current market is offering.
  • Stop-Loss Order – when the market is falling select an exchange rate to trigger at the lowest rate you want to accept.
  • Placing both types of Orders will allow you to “Collar the market”.
  • Once your Order fills your rate is locked in and you are committed to honouring the exchange
Click for more information.

Q.

What is a Forward Contract?

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Answer

  • A Forward contract allows you to lock in today’s rate for up to 1 year with a deposit of up to 10%.
  • You can pay us the deposit in either currency you will be exchanging. This amount is refunded back to you once the transaction is settled or you can pay the remaining 90% due upon settlement of the exchange.
Click for more information.

Q.

What is a Rate Alert?

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Answer

  • Choose the exchange rate you would like to achieve and we will monitor the market for you 24/7.
  • If your rate becomes available at any time, we will notify you either by email or SMS.
Click here for more information.

Q.

What currencies can I exchange?

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Answer

  • We currently offer 30 different currencies; view the full list here.
If there is a currency you need which is not on our list, please contact us as we may be able to trade this over the phone for you.

Q.

Do you have any bank accounts abroad?

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Answer

  • All of our bank accounts are domiciled in the UK; we do not currently have any currency accounts abroad.
  • For example, when you are sending us Euros you will need to send these to our Euro account which is held with Barclays in the UK.
Click for more information

Q.

Can I receive and send my currency to any country?

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Answer

Please see below for the full list of countries you can send currency to using FTT. If there is a country not on the list you would like to send funds to, please contact us for clarification.   Click for the full list of countries.