We offer the ability to convert currency, either to establish a cash position or trade foreign products. Your investment manager will place a currency trade, enter the currency pair you wish to trade, and complete the transaction in your account. Residual cash balances in non-base currency are converted automatically in base currency within 2 working days at no cost for clients.
Residual cash balances in non-base currency are converted automatically in base currency within 2 working days at no cost for clients.
In a Cash account the commission will be charged in your base currency.
We also offer a FX Auto-Swap Program, which offers clients carrying large forex positions providing superior carry costs when holding positions not closed out intraday. This program is not designed for and would not benefit any client who holds a single-currency long balance. The facility is associated with equal and offsetting positions in the forex market. The design allows clients to benefit from our participation in the interbank forex swaps market, where implied interest rate spreads are typically much narrower than spreads available in the retail deposit market.
For more information about our currency program, contact your investment management team.