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Products and Tools

When exchanging large amounts of currency, the small details matter. At Transakt, we have a number of tools at our disposal to meet your individual requirements. 

Spot Contract

A spot contract in foreign exchange is a simple and common way to exchange currencies. It involves two parties agreeing to buy one currency by selling another at an agreed price on a specific date, usually within two working days.


Spot trades are quick and straightforward. They have a fixed rate, giving you the exact cost of the exchange, making them suitable for transactions like buying goods, paying for services, or receiving funds from abroad.


While spot trades are not instant, they typically have a same-day or next-day value date (T+2), meaning the purchased currency will be released on that day as long as the sell currency has been received. If you need to exchange currencies for a longer period, you can use a forward contract.

Forward Contract

A forward contract is an agreement in foreign exchange that empowers individuals or businesses to secure the current exchange rate for a future transaction or series of transactions, commonly known as the forward rate. This rate can be fixed for a duration of up to two years.


One notable benefit of utilizing a forward rate is the ability to create a precise budget plan, as future international payments remain unaffected by the fluctuations in exchange rates.


For instance, in the context of purchasing property overseas, a forward contract allows you to establish a fixed price for the property based on the exchange rate at the deposit stage. This proves advantageous if the exchange rate becomes less favourable, as your price remains locked in, mitigating concerns about market movements and potentially leading to significant cost savings.

Market Order

Market orders provide our clients with the flexibility to target a specific exchange rate that may not be currently accessible. When specific pricing is crucial for your business transactions, activating a market order allows you to secure that desired rate when it becomes available.


If an immediate transfer is necessary, a spot contract is often the preferred choice. Conversely, if protection against adverse currency fluctuations is a priority, a forward contract might be more suitable.


In essence, a market order is an instruction indicating the desire to achieve a particular currency rate in the future. Our team will then execute a market order to ensure that once the specified rate is reached, you can secure it for the predetermined amount you intend to exchange. While requesting a market order doesn't guarantee its attainment, if the rate is reached, the order will be fulfilled automatically.

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