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Manage your foreign exchange exposure with forward contracts

Lock in an exchange rate to secure your future cross-border payment needs, and protect your business from adverse foreign currency fluctuations.

What's a forward contract?

A forward contract lets you secure an exchange rate for a future date on a predetermined volume of currency.

Businesses typically use forward contracts to secure exchange rates for their known future international payment needs.

With WorldFirst, you can enter into a forward contract to support your business activities and facilitate the ability for you to make payments for goods and services.

You’ll be able to lock in an exchange rate for up to 24 months.

Benefits of booking a forward contract

Locking in an exchange rate with a forwards contract means you know exactly what exchange rate you’re getting, for a set time. This helps you predict your cash flow so you can be more prepared, more accurate and more competitive with your planning.

Four questions to consider before booking a forward contract

1. Will market rates move drastically? 

Exchange rates can be volatile. With a forward contract, you’ll have secured a predetermined exchange rate for your future payments. This mitigates your financial exposure to currency fluctuations for those future payments.

2. What’s your risk appetite?

You must consider your cash flows and budgets when booking a forward contract. An FX forward contract is a committed contract to deliver a foreign currency payment at a predetermined rate. It may be worthwhile considering other strategies if you are unsure of your requirements.

3. What’s your purpose for using forward contracts?

You could enter into an FX forward contract with WorldFirst in order to pay an upcoming invoice in a foreign currency, or in preparation of an upcoming purchase in a foreign currency. However, you wouldn’t be able to trade forwards for speculative, personal, family or household purposes, or use it for any purposes unrelated to your business.

4. Do you have other obligations?

There’s an initial 5% deposit requirement called a margin, to be paid upfront to secure your obligations under the forward contract. This amount will be associated with the notional amount of your forward contract. 

How to book a forward contract

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The information contained in this website has not been reviewed or approved by any regulatory authority. This website is prepared solely for distribution into jurisdictions where such distribution is permitted by law. Ant Group does not represent that any material or information contained in this webpage is appropriate for use or permitted in any jurisdiction or country where such use or distribution would be contrary to any applicable law or regulation.

None of the Ant Group entities are registered or licensed to provide, nor do the entities purport to provide, financial services of any kind in any jurisdiction where Ant Group is not authorised to do business or where such provision would be contrary to applicable local laws and regulations. Any trades undertaken in the aforesaid jurisdictions will be at the sole risk of the relevant investor and should always be made in compliance with the local laws and regulations applicable in such jurisdictions.

In Singapore, World First Asia Pte. Ltd. (Company Registration No. 201229924N) (“WFAPL”) is licensed by the Monetary Authority of Singapore to carry on the regulated activity of dealing in capital markets products that are over-the-counter derivatives contracts under the Securities and Futures Act 2001 (“SFA”). WFAPL’s registered office is located at 128 Beach Road, #20-01, Singapore 189773. Save as aforesaid, none of the Ant Group entities are licensed to carry on regulated activities under the SFA in Singapore.