How it works – a step by step guide

The prospect of dealing in the foreign currency market can be duanting as it is uncharted territory for most people. We offer a step by step guide to ensure that our trading process is clear and straightforward, saving you valuable time and money.

If you require clarification on any matters and would like to speak to one of our brokers, please do not hesitate to call us on +44 (0) 20 7989 0000.

1. Register with us

Registering with us is quick and easy and should take no more than a few minutes. You can register online by following the link to the open an account page. Registration is free and does not obligate you to trade, but does provide you with the facility to simply phone us and secure a great exchange rate.

Once we have received your registration form, we are required by law to obtain confirmation of your identity. For clients based in the UK we will undertake an anti-money laundering verification search. If your result, after the search, is below the accepted benchmark, or you live outside the UK, we will ask you to provide documentation as evidence of identity and proof of address.

2. Get an exceptional exchange rate

Contact your foreign currency exchange broker. They will assist you with any questions you may have regarding the market and exchange rates as well as how to buy your currency. Once your broker has confirmed the exchange rate with you, you simply need to instruct him to purchase the currency from the live market on your behalf. This will ensure that you get the best possible exchange rate.

You will receive a contract note confirming the amount of currency you have bought and the exchange rate. The contract note will also let you know where to send payment for the currency you have purchased. You can also transfer funds to us prior to trading for execution when the exchange rate becomes favourable.

3. We send your currency

As soon as we have received your cleared funds, we will transfer your currency to the destination that you have stipulated by priority international transfer. You will also receive a payment confirmation supplied by our principal bankers at Lloyds TSB.