2.1 You must submit a completed application form and confirm that you have read and understood this trade agreement. Once we have been able to verify your identity and convince us that you have a commercial purpose to request a transaction, we will notify you if we accept you (at our full discretion) as a customer. 2.2 We buy and sell money for commercial purposes. This means that we will not negotiate with you if you are trying to sell a foreign exchange transaction as an investment or take advantage of speculation about currency movements without having a real commercial reason to enter into a foreign exchange transaction, such as (but not only) buying a foreign property or transferring funds during the abroad activity. 2.3 While we may provide you with information on foreign exchange markets and related issues, we do not provide advice. Any decision you make to make a transaction will be made only after your judgment. It is your responsibility to get all the necessary advice and to familiarize yourself with the foreign exchange products or services you buy, and we assume you have done so. 2.4 Unless we have expressly agreed to do otherwise in writing, nothing in this contract results in trustees, trustees, agencies, joint ventures or partnership relationships between Currency UK Limited on the one hand and you. 2.5 We may conduct transactions with you by telephone, electronic or both, as we can accept them from time to time. 2.6 All transactions we enter into with or for you will be based on the terms and conditions of this commercial agreement and other related agreements or additions that we may enter into with you or change from time to time.
Hedges of this type can be made on the foreign exchange futures market. The advantage for the distributor is that futures contracts are standardized and billed by a central authority. However, futures contracts may be less liquid than futures markets, which are decentralized and exist within the interbank system worldwide. A unique aspect of this international market is that there is no central market for currencies. On the contrary, currency trading is done electronically over the counter, which means that all transactions are done through computer networks between merchants around the world and not on a central exchange. The market is open 24 hours a day, 5 and a half days a week, and currencies are traded in major financial centres in London, New York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris and Sydney – in almost every time zone. This means that when the trading day ends in the United States, the foreign exchange market will resume in Tokyo and Hong Kong. As such, the Forex market can be extremely active at any time of the day, as price offers are constantly evolving.
A foreign exchange date is a binding contract on the foreign exchange market that blocks the exchange rate for the purchase or sale of a currency at a future date. A currency program is essentially a customizable backup tool that does not include margin prepayment.