Forward Trading

A Forward Contract is a trade for which a favourable rate is agreed upon in advance though payment will occur on a specified date in the future. Once booked, the rate will never change.

This transaction is also used to 'fix' the costs when buying overseas property or securing currency benefits in anticipation of emigrating.

A Forward contract can be secured up to two years in advance and requires deposit of up to 10% with the balance payable upon maturity.