Reduce the costs of all your major foreign currency transfers.

We are pleased to offer this service to our clients, even if you only use it for a single transfer. On large transfers it can save you up to 65% of normal bank charges. This service is run by CAXTONfx and caters for clients making major investments, whether into a fund recommended by us or to buy a property. You can receive and make payments in most countries.

Dealing with CAXTONfx could not be simpler - with excellent rates and no new banking arrangements to be made!

1. Open an Account

It costs nothing and you are under no obligation to trade with us.
Complete and sign the registration form (you can find it here) and fax it to CAXTONfx with two forms of identity including a passport and recent utility bill.

Once CAXTONfx have received these they will quickly process your application and, once approved, you will be set up as a client with the ability to buy and sell currency from them. They will allocate you a dealer who will take care of your account. He will be able to explain exactly how things work and to answer all your questions. It is his responsibility to ensure that your transaction goes according to plan.

2. Decide what form of contract you need

There are 2 types of currency contract - spot and forward.

A Spot contract is where you buy currency at the current rate of exchange and pay for it immediately. Normally, you would make a spot trade for a deposit payment or for the full amount if you have those funds available. The currency is available immediately on receipt of cleared funds.

A Forward contract is where you fix the exchange rate now for a specific date in the future. The rate is guaranteed regardless of market fluctuations so if you wish to avoid the potential downside of currency fluctuation and believe you will benefit from a guaranteed rate then the forward contract would be applicable. This could be useful if you are buying a property and want to fix the exchange rate prior to completion. To purchase a forward contract you will have to pay an initial deposit (at least 10% of the total sum) and the balance on or before the maturity of the contract.

Additionally, there are a couple of mechanisms that can be beneficial when buying or selling currency;

Limit Orders
Limit orders can be used for clients who wish to achieve a price that is not currently available in the market. These orders tend to be used on large sums where payment is not due immediately but is required in due course - such as commercial imports or exports.

Stop Loss Order
Stop Loss Orders are a device where a minimum required exchange rate is agreed. If the market were to fall to this level, an order to buy or sell is automatically created. This can provide a safety net against sharp downward swings in the market beyond levels that would otherwise be unacceptable.

3. Call for a quote

Call CAXTONfx for a quote on buying or selling a particular currency. If you accept this rate, the trade is booked in the market and you will be faxed a contract note detailing the trade: the currency, the value, the rate at which bought and how much is due in settlement. This document should then be signed and faxed back to CAXTONfx without delay.

4. Pay for your currency

With a Spot Contract there is a 48 Hour settlement time so payment will need to be made by electronic transfer. With a Forward Contract, the initial 10 per cent deposit payment can be paid either by electronic transfer or banker's draft. The balance can be sent to CAXTONfx by electronic transfer or by cheque. Please allow 5 working days for the cheque to clear. To give you an example, if you agree a trade on a Monday, they require funds cleared into their client account by close of business on Tuesday.

They are able to release your currency the moment your funds clear in their account - so there is no delay in transferring the money onwards.

What do I do next?

If you wish to talk to a dealer about your requirements, call us on +44 (0) 845 658 2223 and ask for the Private Client Desk and explain you came through Affinity Financial Consulting for special treatment.
Alternatively, click here to register

Their Treasury and Clearing operations are provided by Adam and Co. PLC, part of the Royal Bank of Scotland Group. Adam and Co are renowned for their dedication to personal banking service and as part of RBS, they have the backing of one of Europe's leading financial services companies.

For specific enquiries regarding our banking arrangements, please email banking@caxtonfx.com

CAXTONfx Ltd
2 Motcomb Street
London SW1X 8JU
United Kingdom

Register

Opening a trading account with CAXTONfx could not be simpler.

There are no new banking arrangements to be made and you are under no obligation to trade once registered. You will benefit from their market monitoring service and, when you wish to buy currency, will gain excellent rates of exchange for your transaction.

Step 1. Call one of our dealers on 0845 658 2223 and explain you came through Affinity Financial Consulting for special treatment. He will answer any questions you have and establish your requirements.

Step 2. Print off and complete the application forms in pdf format. Make sure that you have read, signed and dated the Terms and Conditions.

Step 3. Fax the two pages back to CAXTONfx along with two forms of identification as outlined on the form

Once your application has been processed which normally take only an hour, you are then able to trade with them.