Backed by a wide base of international traders as well as efficient financial trading platforms, Housing Bank’s FX team offers institutional and individual clients the ability of taking advantage of opportunities in FX markets and manage risks associated with the volatility of such markets in an accurate and timely manner at competitive rates.
FX team offers a wide set of products that meet clients' needs in maximizing their returns or hedging their financial positions; including spot trading in precious metals as well as spot and forward trading in foreign currencies.
- Cash Trading Account Designed for clients who want to participate in foreign currency and precious metal trading on cash basis. By opening the account, clients can trade Over The Counter (OTC) in all major foreign currency pairs as well as Gold and Silver.
- Margin Trading Account Designed for clients who want to participate in foreign currency and precious metal trading on margin basis. By opening the account, clients can trade Over the Counter (OTC) in all major foreign currency pairs as well as Gold and Silver with initial leverage ranging between 7 and 10 times (i.e. the client can initiate a trade worth USD 350,000 – 500,000 with a nominal amount of only USD 50,000).
FX team offers FX Derivatives (Outright Forwards & Swaps) whether for trading or hedging against exchange rates fluctuations.
- FX Outright Forward Is an Over the Counter (OTC) contract to buy or sell currency at a predetermined price on a set future date. However, unlike FX Future, our FX team can tailor the contract for any amount and delivery period upon the client's needs.
- FX Swap. In case of a shortage in specific currency, the FX team offers the client FX Swaps that involve the purchase of such currency against another currency in the near term and sell it back on a set future date at a predetermined price.