Dedicated Account Manager
Every one of our clients is allocated their own dedicated account manager. All of our clients have different requirements and ways of working - your dedicated account manager will tailor our customer service to suit your business requirements.
At Apex currency we go the extra mile to financially assist you
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Pros and Cons of our products
Pros:
Simple and quick, a spot contract is great if you need to make a payment immediately or if todays exchange rate is particularly good and you wish to take advantage straight away.
Cons:
You are limiting yourself to whatever the exchange rate is on the day you book your spot contract. This is particularly risky if you have a payment that you don’t need to pay immediately - for example if you are purchasing a property and the completion date is 3 months away; its not uncommon for exchange rates to fluctuate up to 5% in this period. By doing nothing in that 3 month period and waiting until the deadline to place a spot contract, you are risking significant fluctuation and potentially paying more than what might have been budgeted.
Pros:
Great if you are risk adverse and want assurance over your upcoming costs. A forward contract provides certainty of your exchange rate over a period of up to one year. If you have a large payment e.g. a property purchase or a luxury watch purchase due to be paid in the future a forward contract allows you to fix the exchange rate ahead of the deadline and provide certainty over how much you will pay.
Cons:
Not the best option if you are willing to take more risks on market movement. Currency fluctuations move both ways, therefore a forward contract protects you if your currency value goes down, however there is also the possibility that your currency value goes down- in this scenario you are locked into an exchange rate that is lower than the current market value.
Pros:
Great if your business has time to settle a payment and you have a target exchange rate in mind. With an order in place you wont need to constantly watch the currency markets, you are safe in the knowledge that should the market reach your desired level your order will be filled and your targeted exchange rate locked in.
Cons:
There is no guarantee your order will get to the required level to fill, in this scenario you will therefore be forced to trade at a lower exchange rate than you originally targeted. In the event your order does get filled there is also the possibility that the exchange rate continues to move higher than where your order is placed at, meaning you are locked into a contract that is potentially lower than the current market rate.
Pros:
Great if you don’t want to be committed to an order but you still wish to be notified at a certain exchange rate. You then have the option to place a trade if you wish or adjust your level of exchange at which you want to be alerted.
Cons:
Not the best option if you are working within a volatile market. Markets can move very quickly, especially at particular times of uncertainty and volatility, therefore by the time you have acknowledged your rate alert the market may have already moved, leaving you unable to act on your alert if you wished to do so.
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