If you have a target exchange rate in mind but don’t have the time to keep track of market movement, you can book a firm order. When the rate reaches your target, we execute for you immediately, leaving you to focus on your business.
- 24/7 Automated Monitoring: Enjoy continuous, hands-free tracking of target rates to ensure optimal execution – freeing your time to focus on what matters
- Flexible Settlement Options: Choose between instant currency conversion or lock rate & fund later after your order is filled
- Simplified Process: User-friendly interface and streamlined procedures make booking order effortless
After deciding on the target rate and the expiry time and date, you can call our relationship management team to place a firm order. The relationship management team will contact you when the firm order fills or expires.
How to place a firm order?
- Go to “FX” or “Payments” and click on “Firm Order” to begin
Place a Firm Order
- Choose the Sell currency and Buy currency, input either the Sell or Buy amount
- Set your Target exchange rate
You can select from a suggested range based on recent rates (target rate adjusts automatically) or set a custom rate.
Use Exchange Rate Trends for Reference:
- After selecting your sell and buy currencies, you can view up to 30 days of exchange rate trends, including the highest and lowest values. This information can help you set your target rate.
- Once you set your target, it will immediately appear on the trend chart so you can visually compare it to past fluctuations.
- Select Settlement Type
Convert with balance right away
We’ll convert instantly when the order triggers if there are sufficient funds in your account. If not, the order fails.
By choosing “Allow partially filled“, when your target exchange rate is reached, we’ll exchange your available balance, even if it’s less than your original order amount, ensuring you make the most of the exchange rate opportunity.
Lock rate & fund later
We’ll lock in the rate when the order triggers, and you have up to 2 business days to fund and complete the settlement.
- Set your order’s “Good Till Date“
This date determines how long we will monitor the market and keep your order active (up to one month). After expiry, you can easily duplicate the order from“FX Activities”.
Duplicate Function:
You can place a new order via the “Duplicate” button on the right side, which you will find in “FX Activities“.
- Confirm order information and submit
After successful submission, we will begin 24/7 real-time monitoring.
Manage your firm orders
1. View firm orders
- Go to “Payments” > “Transaction Management“, or go to “FX” > “FX Activities“, then select the “Firm Order” tab
- Click “Details” to view full order information
2. Execution and settlement
We’ll send you an email notification when the order is fulfilled. The settlement process depends on the “Settlement Type” you selected:
- Convert with balance right away
Ensure your World account has sufficient balance. If the balance is insufficient when your target rate is reached, the order will fail.
- Lock rate & fund later
Please settle funds by the settlement date. We will lock in the triggered rate, and you’ll have up to 2 business days after the order is triggered.
3. Cancelling firm orders
- Orders can be cancelled at any time before they are filled—no cancellation fee applies
- To cancel, go to “Payments” > “Transaction Management” or “FX” > “FX Activities” and select the “Firm Order” tab, then click “Cancel” and confirm
- Once an order is filled, it cannot be cancelled
If you chose “Lock rate & fund later”, the spot trade triggered by the firm order can still be cancelled like a normal spot trade, a cancellation fee may apply.
4. Arrange onward payments
Once your order has been executed and settled into your World account, you may arrange subsequent onward payments.
Q&As
1. Are there trading limits?
- Transaction Count Limit – Maximum 15 orders outstanding for each currency pair
- For Lock rate & fund later, outstanding orders are subject to your per trade and total limits
2. What currency pairs are supported?
The same as those available for Convert and Spot trades respectively.
3. Are there any threshold limits for setting the target exchange rate?
- Bid side: ( 1.0001*current rate , 1.05*current rate ]
- Ask side: ( 0.95*current rate , 0.9999*current rate ]
4. How will I be notified when my target rate is reached?
You will get email notifications when order is placed, cancelled, expired, triggered (filled).
5. Can I cancel my order or trade?
Yes. You can cancel any order before it is filled, free of charge. Once an order is filled, it cannot be cancelled.
For “Lock rate & fund later” orders, the resulting spot trade can still be cancelled, though a fee may apply.
6. Can I place forward firm orders via the portal?
Forward firm orders cannot currently be placed via the portal. Please contact your sales manager or our customer service team to place one.
