Forex orders for business
Choose from limit orders, stop-loss orders, and OCO orders to exchange currency at your specified rates.
- Several types of forex orders to suit market conditions
- Secure favorable rates without manual monitoring
- Dedicated account manager to tailor and execute your currency strategy
- We've supported thousands of businesses since 1979
Excellence recognized
We’re proud to see our dedication to our clients recognized, further motivating us to continue pushing boundaries and setting new service standards in an ever-evolving industry.
Feefo’s 10 Years of Excellence Award
Recognizing 10 years of Feefo's Platinum-rated service
Top 100 Cross-Border Payment Company
We are proud to be listed as one of the world's top 100 cross-border payment companies (as per FX Intelligence).
Best FX for Payment Solutions
Best FX for Payments Solution in the Best FX Tech Awards as part of the Gordon W. Platt Foreign Exchange Awards 2023
Best Payments Solutions Provider
Systems In The City Fintech Awards 2022
What are FX orders?
Foreign exchange (FX) orders are pre-set instructions you provide to an FX dealer, outlining how and when you'd like to buy a foreign currency.
The simplest type of FX order is a market order, which allows you to buy currency at the current market price for the fastest possible execution. This is ideal when speed is your top priority for a transaction.
For those seeking more control, advanced FX orders let you set a specific exchange rate at which you'd like to make a purchase. The transaction only goes through if your chosen rate is reached. This ensures you secure an exchange rate that meets your preferences without needing to constantly track market movements or manage your currency risk.
We offer three types of forex orders designed to suit different needs: limit orders, stop-loss orders, and OCO (one-cancels-the-other) orders. Each is tailored to help you manage your currency transactions effectively; explore how they work below.
Types of forex orders we arrange for businesses
What is an FX limit order?
An FX limit order allows you to buy or sell currency at a higher rate than the current market price. It's a great choice if your currency is trending upward and you expect further growth.
You set the target exchange rate you're willing to accept and your trade will automatically execute if the market reaches it.
Keep in mind that a limit order isn't guaranteed to be fulfilled, though – if the market never reaches your target rate, the trade won't go through.
What is a stop-loss order?
A stop-loss order essentially works as the opposite of a limit order. It's ideal if you anticipate a reversal in an upward trend and expect the exchange rate to start moving against you.
As such, stop-loss orders are designed to protect you from market volatility and unfavorable shifts in exchange rates without needing to actively monitor rate movements.
Be aware that short-term price fluctuations could trigger your stop-loss order, meaning you could lose out if the market quickly turns around again.
What is an OCO order?
OCO orders combine the features of limit orders and stop-loss orders to protect you both ways. You set a target limit value above the current exchange rate plus a stop-loss value below it.
If a rate rises to your specified limit, the trade will execute and your stop-loss is automatically canceled. Conversely, if the rate falls to your stop-loss level, the trade will occur at that rate and your higher limit will be disregarded.
OCO orders offer balance by allowing you to take advantage of favorable rate movements while protecting against shifts in the other direction.
How can my business benefit from forex orders?
Does your business operate internationally, with cross-border clients, suppliers, or staff, for example? Here's how forex orders with Moneycorp can benefit you:
- Cost control: Use limit orders to secure better exchange rates and reduce costs on your currency purchases.
- Risk mitigation: Find safety in choppy waters with stop-loss orders that minimize potential losses.
- Reduced manual input: Stay focused on your business with automatic execution, negating the need for constant market monitoring.
- Financial planning: Manage cash flow confidently with automated trades at predefined rates.
- Flexibility: FX orders are customizable to suit market conditions and your business needs. Our experts can arrange orders that suit your goals and attitude to risk.
Why choose Moneycorp for your FX orders?
Moneycorp brings your business over 40 years of expertise in optimizing the trading of currencies.
- Range of FX orders available with low fees
- Exchange over 120 currencies and send payments to 190 countries
- Competitive rates from our global network of liquidity providers
- All-in-one multi-currency account to hold funds and make and track payments online
- Personal service, tailored for thousands of businesses across a range of industries
- Support from FX experts across 17 global offices, including a dedicated account manager
- Robust regulations and security measures to protect your funds
- Regular insights to keep you ahead of the market
How to set up a forex order with Moneycorp
When you sign up with Moneycorp, a dedicated account manager will work with you to understand your currency needs and match them with our foreign exchange solutions, including forex orders.
By identifying and addressing your business' exposure to foreign currency risk, they'll deliver a bespoke currency exchange and risk management strategy, acting as your eyes and ears in the market.
Alternatives to foreign exchange orders
Our currency experts provide a range of other solutions to suit different scenarios, market conditions, and businesses. We'll recommend the most efficient, effective mix for you, either in place of or alongside forex orders.
Forward contracts
Lock in an exchange rate for a future date, typically up to a year. This tool protects you against currency fluctuations, providing the certainty of a guaranteed rate to aid budgeting and financial planning.
Spot contracts
Make a currency transaction at the current 'on-the-spot' rate. With simple, quick execution, they're ideal for your immediate currency needs.
Currency options
Forex options give you the flexibility to secure an exchange rate for a future transaction without the obligation to complete it. This protects you against unfavorable rate movements without giving up the opportunity to benefit from rises.
Discover thousands of businesses benefiting from our expertise
"Moneycorp helped us get through the most volatile period and now as soon as we need to hedge we get info from our dealers, wait for the right time, and book at the highest peaks for that short period.” – Nick Stavrakakis at Indigofera
Forex order FAQs
Is my business's money safe with Moneycorp?
Currency exchange and global payment services demand robust security. With Moneycorp, you can operate with confidence.
- We've been in business since 1979.
- We're a registered money services business and a licensed and bonded money transmitter where required.
- We protect your information throughout every transaction and communication with us – view our privacy policy.
Read more about security with Moneycorp and how to keep your business finances secure.
Explore our other business solutions
Risk management
Protect your business from foreign exchange market volatility and minimize risk with hedging tools tailored to your business by our currency experts.
Global payments
Make seamless local and international payments more cost- and work-efficient, with competitive pricing and bulk payment support.
News Hub
Keep pace with market movements with our expert daily commentaries, blogs, and whitepapers, online or delivered to your inbox.
Visit our currency zone
Shape your forex orders with our latest market updates and powerful currency tools.
*Forward Contracts may or may not require a deposit dependent upon your facility agreement.
**Our team of experienced currency risk management specialists are approved by the FCA for investment business. Following an initial assessment of your risk-appetite and investment objectives they can formulate and illustrate a bespoke solution for you to consider. Please note that Option related products are regulated investment products which can carry a higher level of risk than Forward Contracts.
