Spot deals
A brand and marketing company operating in the UK win a Dubai based contract. Their costs are in GBP as their offices are staff are charged in that currency, but their Dubai client wants to pay in USD. Their business growth is fantastic, but their bank is making it expensive and complicated to do business that way.
They reach out to their dedicated Mbele FX account manager to sell the USD into GBO which we do at an agreed rate, normally far outperforming the bank. We provide them with a USD account for the client to pay and deliver the GBP same day to their UK bank account, no fees, no fuss.
Forwards
As the relationship grows with the Dubai client they win a multiyear contract and they realise that whilst the USD revenues are staying the same the amount of GBP they are receiving each month is changing depending on the prevailing rate at each spot trade. The market volatility is making forecasting and budgeting difficult and means that, in reality, his costs are moving around when his revenues are staying the same.
Their dedicated account manager at Forward FX works with them to get an idea of the expected USD revenue over the next 12 months and book a series of forward contracts to ensure that they always sell USD and buy GBP at the same, predetermined, rate each month. Making the business easier to manage and allowing the farmer to focus on other more important parts of developing the business. These tools are free to use but do carry a credit requirement.
Market order
After noticing the large volatility in the USDGBP market the finance team at the firm decided to hedge on 70% of their expected currency exposure with Forward FX and leave the rest to the sport market. Using market orders, we place target rates with our banking partners so that when those levels are reached, even for a few seconds in the middle of the night, a spot trade is automatically booked. These tools ensure the market is working for our client around the clock. These products can target positive moves in the market or protect you from moves against you.
File upload and mass payment
As time passes Forward FX started working with the finance team at the agency to improve their processes. They realised a lot of time and financial capital was being used in making their monthly payroll and invoice payments to suppliers and contractors. Using Forward FX’s market leading online platform they were able to upload all of their payments on one formatted spreadsheet to our online payment system and make all the payments in one go, at the click of single button. Settling in any number of currencies of their choosing.