Once a foreign exchange transaction between us has been agreed, we will send to you a confirmation of the complete trade details. Details will include the:
• Currencies being bought and sold;
• Instructions from you to us;
• Transaction exchange rate;
• Currency amount sold by you;
• Currency amount bought by you;
• Settlement date;
• Direct FX Client Funds Account payment instruction;
• Settlement instruction for your bought currency, if supplied in advance by you; and
• Initial margin due (in the case of forwards contracts).
Click here to see a trade confirmation example
Note: our confirmation is sent to you to record the transaction. It also gives you the relevant Direct FX Client Funds Account details so you can deposit your sold funds. A foreign exchange transaction is in place at the point when your instructions are completed by us, not at the point when you have received our confirmation.
We will always endeavour to send confirmations to you in a timely manner. Confirmations for orders completed outside of normal business hours may not be sent until the morning of the following business day.