Funds are not required to schedule a hedge. However, you will require sufficient funds in your account no later than 2 business days in advance of the hedge date to ensure settlement. Failure to fund your account before the hedge date may impact your future rate (i.e.: if you cancel or do not fund your hedge, your rate for future hedges may increase). See "How to add funds" for more information about funding your account.
To schedule a hedge exchange:
- Enter the amount you'd like to exchange.
- Select the "target currency" (the currency you'd like to exchange to).
- Select the "from currency" (the starting currency you'd like to exchange from).
- Choose the "Future date (Hedge)" option and then click "View your rate."
- Review your quoted rate.
- You have 4-minutes to review your spot rate, if you do not accept the quoted rate within 4-minutes, you will have the option to refresh your quote.
- You may add a description for your company's reconciliation purposes (this is optional) and click "Update." If you do not wish to enter a description, click "Close."
- The hedge will now appear under the "Scheduled transactions" tab.
- Reminder, you must sufficiently fund your hedge no later than 2 business days in advance of the hedge date to ensure settlement. See "How to add funds" for more information about funding your account.
- Following the hedge date, the exchanged funds will appear in the account representing the currency you exchanged to (the target currency). When you're ready to withdraw funds, see "How to withdraw funds" for more information.