FX Order Watch

You set the exchange rate and we’ll do the rest

FX Order Watch

Our FX Order Watch service does the hard work for you, keeping a constant check on the currency markets. You can now place currency trades in advance, knowing that they will only be completed if rates hit the level you desire, within your preferred timeframe.

Please note: The conversion will take place at the rate inclusive of our commission which will be disclosed to you either through your relationship manager or Citi Online before the transaction takes place.

FX Order Watch lets you set your own preferred exchange rate between two currencies – for example US Dollars and Euro.

You can set up FX Order Watch quickly and easily using Citi Online, or ask your Relationship Manager to do this for you during office hours. Our dedicated Treasury Sales Officers are also there to provide expert assistance in meeting your Foreign Exchange goals.

Currency Risk

Because currency markets fluctuate, there is always a risk with any FX product that you could lose some of your capital if you make a trade and then immediately decide to switch back to your original currency. For this reason our FX solutions, including FX Order Watch, are best suited to experienced investors and those clients who already operate in more than one currency, or those who are prepared to accept the risk that currencies can fluctuate.

Please read the full terms and conditions of our FX Order Watch service.

First, you decide the currencies you want to exchange and the rate at which you want to trade (the watch rate), as well as the term over which you want the deal to happen (between one day and 90 days). You then place your FX Order using Citi Online or by contacting your Relationship Manager.

Choose from over 20 different currencies and the following types of order:

Single order: You place one order and we make the trade if the currency hits your desired level within the timeframe. If it doesn’t, the order expires.

One-cancel-other order: You place two orders at the same time. Whichever target is hit first, that trade is executed and the other order is automatically cancelled. If neither target is hit by the end of the term, the order expires.

Citi Online

You can place an FX Order Watch at any time of the day or night using Citi Online, no matter where you happen to be in the world. Our easy-to use dropdown menus make selecting your currencies, target rate, timeframe and order type simple and quick.

See how to place an FX Order Watch online with our short Help Centre Video.

Citi Online gives you maximum freedom to manage your money and investments. You can register for the service in minutes using just your Citi IPB Visa Debit Card and mobile phone

Once we take your order, we monitor the currency market 24 hours a day, and will only make the trade when the market rate hits your agreed level.

FX Order Watch can be used to buy and sell over 20 of the world’s major currencies:

  • United States Dollars (USD)
  • British Pounds (GBP)
  • Euros (EUR)
  • Japanese Yen (JPY)
  • Swiss Francs (CHF)
  • Canadian Dollars (CAD)
  • Australian Dollars (AUD)
  • New Zealand Dollars (NZD)
  • Danish Krone (DKK)
  • Norwegian Krone (NOK)
  • Emirati Dirham (AED)
  • Russian Roubles (RUB)
  • Turkish Lira (TRY)
  • Hungarian Forint (HUF)
  • Romanian Leu (RON)
  • Polish Zloty (PLN)
  • Czech Republic Koruna (CZK)
  • Swedish Krona (SEK)
  • Hong Kong Dollars (HKD)
  • Israeli Shekel (ILS)
  • South Africa Rand (ZAR)

Alternate Currency – this is the currency (selected by you) that you will receive when an order is executed.

Commission – this means the spread applied by us and which will be disclosed to you by the Treasury Sales Officer / Treasury Specialist prior to placing an Order. When booking trades via Citi Online, the difference between the Watch Rate and the Customer Rate will reflect the Commission.

Customer Rate – this is the Watch Rate less any Commission and represents the effective rate you will receive when the Order is executed.

Original Currency – this is the currency (selected by you) that will be exchanged when an Order is executed.

One-cancel-other order - You place two orders at the same time with FX Order Watch. Whichever target is hit first, that trade is executed and the other order is automatically cancelled. If neither target is hit by the end of the term the order expires.

Order – an order placed by you for foreign exchange in which you specify the Original Currency, the Alternate Currency, the Transaction Amount, the Tenor and the Watch Rate or Customer Rate.

Market Rate – this is the live spot market exchange rate for the currency pair you have selected, as published by Reuters. Note that this rate may differ from live rates published by other service providers.

Term – means the period of time from when a product or service begins until the Expiry Date

Transaction Amount – this is the currency amount that you choose to allocate to an Order.

Tenor – this is the period during which your Order remains active for watching in accordance with your instructions and these terms and conditions.

Watch Rate – this is the target exchange rate selected by you at which you wish the Order to be executed. Please refer to the General Terms and Conditions applicable to your Account.

If you want to know more about FX Order Watch get in touch with your Relationship Manager

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