Book an FX Trade (more than 2 days)

2026-04-24 10:12

If you don’t lock in a rate, currency swings could affect your bottom line, driving up costs or forcing you to raise prices. Even if rates don’t move dramatically, the lack of predictability can make it harder to manage budgets; Our FX forward trades help you:

Lock in rates to help you budget;
Hedge against exchange rate fluctuations;
Operate flexible settlement models;
Have certainty over the cost of your supplies.

Access FX Forwards

Kindly contact your account manager, or by phone or email below to request acceess.

E-mail:media@worldfirst.com Phone:

• In Australia 1800 326 667

• In New Zealand 0800 666 114

• Outside Australia +61 2 8298 4990

Booking a Forward trade

On your WorldFirst portal, click [FX] on the navigation bar on the left, and click [Book FX Contract]
Alternatively, you can go to [ Payments ] > [Book an FX trade].

Enter FX trade information

Step 1:Select your buy and sell currencies. WorldFirst supports 14 sell currencies and 19 buy currencies: To sell: AUD,GBP, USD, EUR, CNH, HKD, JPY, SGD, CAD, NZD, AED,CHF,PLN,SEK To buy: GBP, USD, EUR, CNH, HKD, JPY, SGD, CAD, AUD, NZD, AED, CHF, PLN, SEK, CZK, NOK, THB, ZAR, MYR.	Step 2: Select the transaction currency and enter the amount. The per FX trade transaction limit is 50,000.00 USD. If you would like to change the limit, pls contact us by phone or emai. Phone:* In Australia 1800 326 667 In New Zealand 0800 666 114 Outside Australia +61 2 8298 4990 E-mail:media@worldfirst.com

Step 3: Choose your settlement dateThis is when you will need to ensure you have topped up your account by. When booking a forward trade, you will be required to pay an initial deposit in order to lock in your exchange rate. ● Initial deposit (≤3 months): 5% ● Initial deposit (>3months): 10% *Margin Waive: If tenor ≤ 10 banking days & contract amt < 10K GBP, shall be waived from margin If tenor = 3 banking days & contract amt < 50K GBP, shall be waived from margin	Step 4: Click [ Next ] to review your trade details and if you are happy with them, click [Confirm trade]. All done! Your FX forward trade is now booked, and your rate will be valid until your settlement date. Please ensure you top up your account before your settlement date, as failure to settle your trade will result in a cancellation and you may incur a fee. *If you would like to make a payment from your buy currency, please ensure you book your onward payment before your settlement date, and send in your sell currency plus any required payment fees to ensure there are no delays to your payment.

View or cancel FX forward trades

Once you've successfully booked your FX forward trade, and would like to view your trade information or see the status of your FX forward trade, please follow the steps below⬇️

View details

Step 1: Click [ FX ] > [FX activities] > [FX Trades]

*If you cannot find your trade, you can also click [view all] in the top right corner of the blotter.

Step 2: Click [View Details] to see your trade information.

You can view information of all your trades here, regardless of their status.

Cancelling FX forward trades

Step 1: Click [ FX ] > [FX activities] > [FX Trades] > [View Details] > [Cancel].

Cancelling your FX trade may result in an FX loss which you will be liable to cover as per our terms and conditions.

Step 2: Click [Confirm Cancel] to confirm your are cancelling your trade and have accepted any associated fees.

*If there is an applicable fee to cancel your trade it will be displayed here.

Adding a payment to your FX forward trade

Once you have successfully booked your trade, your rate will be valid until your settlement date. In the meantime you can add a payment to your trade, to utilise your booked rate for an onward payment - or to settle your trade to your WorldFirst balance in the buy currency. If you have booked a flexible forward trade, you will be able to utilise your rate before your agreed settlement date.

If you do not set up a payment, the buy currency will automatically settle into your WorldFirst account, if you have a corresponding currency account. In cases where you do not have a currency account in your buy currency, the trade will be cancelled and you may incur a fee.

Step 1:

To add a payment to your trade, you can follow one of the below steps:
Click [Create an onward payment] on the results screen when booking your FX spot trade.
Go to [FX] > [FX trades], find your trade and click [Add payment] on the right hand side.

Step 2:

Next, either select your payee and select the purpose of your payment.

Or, you can choose to settle the funds into your account balance.

Step 3: Enter the payment amount, and click [Next], you will then need to verify your payment via Authy or SMS code.

*Your payment amount does not need to be the full buy amount of your FX spot trade, you may add multiple payments to your trade to fully utlise your buy amount. IF you have residual buy currency left on your trade after booking your payments, the remainder will automatically settle into your WorldFirst balance.

Step 4: Review your payment and click confirm if you are happy to proceed [Confirm payment]

FAQs

1. Is an FX forward trade an FX contract?

Yes, an FX forward trade is an FX contract. This means that you are contractually obliged to settle this trade by the agreed settlement date, once you have booked your trade. You will need to ensure that you have sufficient sell currency balance on your WorldFirst account by your settlement date, to avoid any risks of cancellation and incurring fees.

2. What types of FX Forward do you provide?

We offer two types of FX forwards: Fixed forwards and flexible forwards.

Fixed Forwards have a fixed settlement date, you will be able to lock your rate in to settle on a specific date in the future.

Flexible forwards allow you to utilise your booked FX rate either partially or fully at any point between your booking date and your settlement date.

By default we only offer flexible forwards on your online portal, if you would like to book a fixed forward please contact our customer service team.

3. Do I need to pay a deposit when I book an FX Forward trade?

Yes. If the settlement date is more than two business days away, will be required to pay an initial deposit in order to lock in your exchange rate.. If you do not have sufficient funds in your account to cover your deposit, you will have up to two days to top up your account, if you do not fund your account in this time your trade may be cancelled and you may incur a fee.

*Margin Waive:

Initial deposit (≤3 months): 5% & Initial deposit (>3months): 10%

If tenor ≤ 10 banking days & contract amt < 10K GBP, shall be waived from margin

If tenor = 3 banking days & contract amt < 50K GBP, shall be waived from margin

4. Can you waive my margin deposit when I book an FX Forward trade?

We can waive the initial deposit in below cases:

If you book 3 days FX Forward with less than 50K USD, we waive the inital deposit:

If you book less than 10 days FX Forward with less than 10K USD, we waive the inital deposit.

Please contact your accout manager if you would like to request credit line to wiave margin deposit.

5. Can I apply for a credit line to cover my margin requirements?

We offer credit lines to cover margin requirements to customers who have good financial health, please contact your account manager or our customer service team to request a credit line to waive your margin requirements.

6. Do I need to pay any subsequent margin if market moves against me?

Market movements could result in your Forwards trades moving “out of the money” (meaning your current position has a negative value against the current market rate). If your intiial deposit is no longer enough to cover your trade's negative position, WorldFirst may, at any time up to your settlement date, require you to top up your margin - this is called a margin call.

If a margin call is triggered, and you do not have sufficient funds on your account to cover your margin call, you will have up to 2 working days to fund your account to cover the additional margin. Failure to do so may lead to your trade being cancelled, and you may incur a fee.

7. How are margin calls calculated?

We use the concept of "headroom" to determine the margin call amount. For each forward trade, the headroom is calcuated as the combined value of margin deposited and Market-to-Market, divided by the unsettled amount of your trade. If your headroom falls under 1%, we would required additional margin, in order to bring your headroom back to 3%.

8. Is there a fee for cancelling my FX trade?

When WorldFirst cancel your FX trade, we will need to sell your booked currency back to the market at the current rate. As a result of this there is the potential that we will incurr an FX loss due to the rate moving from the point at which your trade was booked.

As per our Terms and Conditions, and as part of the contractual agreement made at the point of your trade being booked, you will be liable to cover any loss made as part of cancelling your FX trade.

9. Will I be reminded to fund my account?

Yes. If you do not have sufficient funds in your WorldFirst account on your settlement date we will send you a reminder to top up your account via email.

10. Which currency pairs are available for FX trades?

WorldFirst supports 14 sell currencies and 19 buy currencies.

Sell:

USD,EUR,GBP,CNH,JPY,CAD,HKD,AUD,SGD,NZD,SEK,PLN,AED,CHF.

Buy:

USD,EUR,GBP,CNH,JPY,CAD,HKD,AUD,SGD,NZD,SEK,PLN,AED,CHF,CZK,NOK,THB,ZAR,MYR.

11. Can I use part of my trade for a payment?

Yes, you can utilise a portion of your trade for an outgoing payment, you can also add as many payment as you want to your trade, as long as the total amount you are paying out does not exceed your trade buy amount.

If you have a booked a flexible forward, you can send these partial payment at any time until your settlement date.

12. What happens if I do not settle my FX trade in time?

If you do not settle your FX forward trade by your settlement date, your trade will be cancelled and you may incur a fee.

If you do not settle an early payment from a flexible forward by your payment date, the payment will be cancelled and you will need to reset your payment.

13. Can I settle my FX forward trade early?

If you have booked a fixed forward, you cannot settle your trade early online. You can contact our customer service team who may be able to settle this early for you - but you may incurr a fee.

If you have booked a flexible forward, you are able to settle your trade at any point up to your settlement date.

14. Can I extend my FX forward trade?

Yes, you can extend your trade by calling or emailing our customer service team. Based on current market conditions at the point of your request, you may have to pay a fee to extend your trade.

15. If I do not add a payment to my FX trade when will the conversion take place?

If you do not add a payment to your FX trade, and you have a corresponding buy curency account, the conversion will take place at 16:00 GMT on your settlement date.