Effective FX is in the business of efficiently dealing with our customers’ foreign exchange requirements . With our help you are free to get on with what you do best!
Look at how sterling has moved against the US dollar. In late 2008 the rate was 2.08 dollars to the pound. Just 3 months later it had collapsed by 35% to 1.36, only to bounce back by 18% over the following 6 months, to 1.61.
This example illustrates how forward planning is crucial if you have foreign exchange risk and how much a currency fluctuation can affect your bottom line!
Lock in an exchange rate for a specific amount of currency that you can use at a later date, without having to tie up valuable working capital. A 3% deposit is payable at the outset, followed by 97% when the contract matures.
Set target price levels that can be executed 24 hours a day. Your currency is transacted automatically if the limit is achieved.
Stop Loss Orders
Place a currency order above or below the current market level, which will only trade if that level is reached. Stop-loss orders are designed to limit a loss if currencies do not move as you might have hoped or expected.