Our Services

USForex understands the impact a volatile currency can have on your business’ bottom line.

With proven expertise at your disposal, we can help you manage exchange risk with a range of foreign exchange products:

-Basic International Money Transfers

-Forward Contracts

-Limit Orders

-Recurring Payments

Basic International Money Transfer

Lock-in the current exchange rate, confirm the deal and settle within 2 days. Ideal for when you need to transfer money in a hurry and aren't as concerned with present foreign exchange rate. 

Forward Contracts

A forward foreign exchange rate is the exchange rate at which one currency can be exchanged for another currency for settlement on a predetermined future date (maturity date).

Clients can hedge their FX (foreign exchange) rate risk by using a forward currency contract. A forward currency contract, often refered to as a foreign exchange contract (FEC), allows clients to lock in an exchange rate today for a currency transfer that needs to occur in the future (between 2 days and 12 months from today). It essentially protects against unfavorable or negative exchange rate movements up until your future currency transfer need.

You do not have to pay the full amount owing on the FEC until the maturity date of the forward contract. There may however be a small deposit required at the commencement of the forward transaction and/or at a later stage prior to the maturity date.

Limit Order(available over the phone only)

A limit order lets clients instruct USForex to buy or sell one currency for another currency at a target rate that is better than the current market rate. Clients leave such orders with us to take advantage of exchange rate movements during the times at which they cannot monitor the rates themselves such as overnight market movements.

As foreign exchange markets are open 24 hours and volatility often occurs during overnight sessions, you may miss out on the best rates if you are unable to monitor movements all the time.

Orders can be left with any of our staff and these are in turn left with our overnight traders. If the rate nominated is triggered overnight, you will be notified and asked to provide beneficiary details and organise timely payment to USForex.

When leaving a limit order with us, you must instruct us of the currency to sell, the amount to sell, and the desired exchange rate. You also need to tell us for how long the order is valid (between 2 and 365 days in the future).

Business and private clients can leave orders - generally the amount needs to be greater than $30,000. Please note that you need to speak to one of our dealers to be set up for Limit Orders. 

Recurring or Regular Payments

Setting up recurring International payments with USForex is easy and can save you time and money. Take advantage of our great exchange rates and flexible set up options to accommodate your specific needs.

You have two ways of sending recurring payments:

1. Fixed Payments: This is best suited for a fixed amount that you need transfer regularly (bi-weekly, monthly, quarterly) such as mortgage payments. If you are working in Canada and need to pay off your U.S. mortgage each month for example, you can lock in your rate and transfer the same amount every month in Canadian dollars and receive the same specified US Dollar amount to pay off your mortgage.

2.Non-Fixed Payments: This option is best suited for periodic money transfers that are not fixed exchange rate. You can benefit from favorable rate fluctuations using the non-fixed payment option.

 

 

 

*Limited time offer

Register before November 22nd and transfer your money with Zero Fees.

 

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© 2017. USForex Inc. dba OFX or its affiliates. All rights reserved. OFX is the registered trade name of USForex Inc., a licensed money transmitter. NMLS #1021624. 

IMPORTANT: This information has been prepared for distribution over the internet and without taking into account the investment objectives, financial situation and particular needs of any particular person. USForex makes no recommendations as to the merits of any financial product referred to in this website, emails or its related websites.

DISCLAIMER: USForex makes no warranty, express or implied, concerning the suitability, completeness, quality or exactness of the information and models provided in this web site. Read full disclaimer.

USForex provides international money transfer services to private clients and business customers. Use our free currency converter, exchange rate charts, economic calendar, in-depth currency news and updates and benefit from competitive exchange rates and outstanding customer service. USForex is registered at a federal level with Financial Crimes Enforcement Network ("FinCEN"), a bureau of the U.S. Department of Treasury, as a Money Services Business. In addition, USForex is licensed in a number of U.S. States by the relevant State Banking Department(s) as a Money Transmitter. USForex is licensed as a Money Transmitter by the Banking Dept. of the State of NY. View the complete list of states in where USForex is licensed.

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