At Prime Foreign Exchange we work hard to ensure that dealing with us is a fast, efficient and hassle free experience but more importantly
all payments are sent via SWIFT so are fast and fully traceable. Our banking partner is RBS all transactions are processed via this bank.
The Trade Process
"Simplicity is the ultimate sophistication"
Leonardo da Vinci
It is important to have a conversation with you as early as possible in order to understand your requirements, timesscales, and the use of funds. We can then provide information on the latest exchange rates, the process of the transactions and suggest how best to proceed from this point onwards. As a guide, the process is as follows:
After the initial convestation, we will get you registered and you may have to provide us with a copy of your passport for identification purpose. The registration is free and it carries no obligation to trade.
We will provide you with the latest rate or alternative options taking into consideration your required timescales and currency exchange needs.
3. Trade execution
If you agree to the rate, we go ahead and purchase the currency you require so the rate is locked. Trade Confirmation email is sent to you with instructions for settlement. You must then ensure that your funds are sent to our client segregated account with RBS within 48 hours or longer with prior agreement.
4. Trade settlement
Your funds are received and the trade filled. The newly purchased currency is transferred to the destination account as per your instructions. A Payment Confirmation email is sent to you for your records.
If required, it is possible for all the above steps to be completed on the same day. Please talk to us if your currency transfer requirement is urgent or follow the link below to register.
"Overconfidence blurs out the risk
inferiority magnifies it" Toba Beta - writer
Fluctuations in foreign exchange rates can have a huge impact when you are purchasing or selling your dream home or making and receiving regular payments in foreign currency. It can be a costly mistake to ignore it. To minimise such risks we offer our clients a range of effective instruments.
Spot Contract (Immediate Transfer)
This contract enables you to send currency straight away. We confirm your exchange rate over the phone or by email. Then, once we have received the full settlement amount, we transfer your currency to your nominated beneficiary by priority same day transfer.
This contract enables you to fix the exchange rate at today’s value for delivery on a specific date in the future, known as the maturity date. You are able to say when you want delivery of the currency and this can be any length of time between 1 week and 2 years. A minimum 5% deposit is often required in order to hold the position open until the transaction is completed.
Stop Loss Order
This is where you agree to buy or sell currency at a specific exchange rate. A stop loss does what it says in the sense that it offers protection from negative exchange rate movement, whilst giving you the opportunity to benefit should exchange rates improve. Stop loss is free of charge and good until cancelled.
An order where you agree to buy or sell currency at a specific rate that is not currently available. With a limit order you are waiting for exchange rates to improve. It is free of charge and good until cancelled.
We can trade over 30 world currencies, most of which are listed below. Other currencies may be available subject to the size of transaction. Please call us and we will be happy to enquire on your behalf.
Czech Republic Koruna
Euro Member Countries
Hong Kong Dollar
New Zealand Dollar
Romania New Leu
Saudi Arabia Riyal
United Kingdom Pound
United States Dollar
South Africa Rand