What's the difference between a target rate order and a forward contract?

A forward contract guarantees your transfer happens on a set future date at an agreed rate. A target rate order only executes if the market reaches your chosen rate, whenever that happens, with no fixed date, and it might not trigger at all.

Do I need to pay anything upfront?

Yes, we take a 10-20% deposit to open a target rate order, with the balance due within 24 hours of your target rate being hit.

What if the rate only appears for a few seconds?

Your order is monitored continuously, so it can trigger the moment your target rate is reached, even if it only holds briefly.

What happens if the market never reaches my target rate?

Your order stays open until it triggers or expires. We keep monitoring the rate and stay in regular contact, so if the market's moving against you, you'll know.

Can I change or cancel my target rate order?

Yes, anytime before it's triggered.

How long can a target rate order stay open?

There's no set limit. It stays active until either your target rate is reached or you cancel it.

Can businesses use target rate orders too?

Yes, they're available to both personal and business customers.

Target Rate Orders: Get the Exchange Rate You Want

Exchange rates can move in your favour just as easily as against you, sometimes for only a few seconds. A target rate order lets you set the rate you want and wait for it, without watching the market yourself.

Set your own target exchange rate
We monitor the market for you
Executes automatically, even if the rate only holds for seconds
Regular updates if the market moves against you
Cancel or change anytime before it triggers

Your funds are fully protected with Currencyflow through our FCA-regulated partner, Sciopay Ltd (FCA number 927951), and held in segregated safeguarded accounts with tier-one banks, separate from operational funds.

Send, save... & relax.

Transparent pricing, always shown upfront.

By Freddie Smith, Founder & CEO, Currencyflow · Updated 12 August 2026

Why target rate orders matter

If you're not in a rush to transfer, there's no reason to accept today's rate just because it's convenient. A target rate order lets you set the rate you're aiming for and wait for the market to reach it, without needing to check yourself.

When a target rate order makes sense

A target rate order works best when you don't have to transfer today, but you know the rate you're aiming for.

Relocating abroad with a lump sum

If you're moving to another country over the coming weeks or months, there's often no fixed date the money has to move by. A target rate order lets you wait for a rate you're happy with, rather than converting everything today at whatever it happens to be.

Buying property abroad, off-plan or otherwise

Completion dates can be months away, which gives you time to wait for a good rate. If your purchase has a firm completion date, it's worth having a forward contract or a straightforward transfer as your fallback too, so you're covered if your target rate isn't reached in time.

Guide to buying property abroad →

Calendar representing a large future purchase

A big purchase with money due later

A boat, a car, a wedding abroad, school or university fees, anything where you've paid a deposit or committed to a future cost, with the balance due closer to the date. A target rate order lets you aim for a better rate on that remaining amount rather than accepting whatever's available when the payment falls due.

Learn about large transfers →

Repatriating pension, salary, or investment income

If you're moving money back home on a flexible timeline, a target rate order means you're not settling for today's rate just because it's convenient. Our repatriating income guide covers when a one-off like a bonus is worth waiting for a rate rather than moving it on a fixed date. For selling a foreign holding specifically, our overseas investments guide covers waiting for a rate on the proceeds.

Guide to regular transfers →

A business with a one-off future cost

Paying for equipment, a one-time supplier invoice, or another planned payment where the amount matters more than the timing. Import and export businesses often use one to catch a better level on a flexible conversion, and our guide to managing currency risk on import/export business shows where it fits alongside forward cover.

Business transfers →

Repatriating an inheritance

Probate rarely comes with a firm date, so a target rate order suits an inheritance well - it waits for the rate you want while the estate settles, and only converts if the market reaches it.

Read our inheritance guide →

How a target rate order works

Tell us your target rate

Let us know the currency pair, amount, and the rate you're aiming for, then pay a 10-20% deposit to open your order.

We monitor the market for you

Our team and systems watch the market continuously, including brief movements, so you don't have to.

Funds convert when your rate is hit

There's no fixed expiry, your order stays open until the market reaches your target rate or you decide to cancel.

Funds arrive as planned

The remaining balance is due within 24 hours of your rate being hit, then your money is sent to the recipient account you've provided.

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What to know before you place an order

The rate might not be reached, and we'll tell you if things move against you. A target rate order only executes if the market actually gets to your specified rate. If the market moves the other way instead, there's no guaranteed date the way there is with a forward contract, but we keep monitoring the rate and stay in regular contact, so you're never left wondering what's happening.
This is different from a forward contract. A forward contract guarantees your transfer will go ahead on an agreed future date at an agreed rate, regardless of where the market moves. A target rate order is the opposite kind of certainty: it guarantees the rate, but only if and when the market reaches it, with no fixed date attached. If you need certainty that a payment will go through by a specific date, a forward contract is usually the better fit. If you're flexible on timing and want to capture a specific rate if it appears, even briefly, a target rate order is designed for that.
A deposit secures your order. We take 10-20% upfront, with the remaining balance due within 24 hours of your target rate being hit.
You can leave your order open as long as you like. There's no maximum duration, it stays active until your target rate is hit or you decide to cancel it.

Target rate orders vs. traditional banks

Feature	Currencyflow	Traditional Banks
Target rate orders	Available to personal and business customers	Not widely available
Market monitoring	Continuous, including brief rate movements	Usually left to the customer
Communication	Regular updates if the market moves against you	Typically none until you check yourself
Support	Dedicated account manager	Call centre or online only

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Frequently asked questions

Written by

Freddie Smith

Founder & CEO, Currencyflow

Freddie Smith is the Founder and CEO of Currencyflow, an international foreign exchange and payments specialist focused on high-value transfers for individuals and businesses worldwide. With over 12 years of commercial experience across financial services and digital media, including several years working with financial services comparison platforms, Freddie has spent his career at the intersection of partnerships, growth strategy, and money movement. He founded Currencyflow to bring transparent, fixed-margin pricing and personal relationship management to clients making significant international transfers.

Last updated 12 August 2026

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