What's the issue on hand?
What exchange rate do I get when I exchange currencies?
Statrys offers real-time exchange rate based on the mid-market rate. When you are logged in on our platform and ready to make a payment or exchange currencies between your account, you will see our rate updating every second. We always display the mid-market rate on our platform. Check our rate against other reference financial sources (e.g. Yahoo Finance, XE.com, investing.com, etc.).
Why do I need to pay a deposit in a Forex forward contract?
As there are no upfront payments for Forex forward orders, deposits are required to compensate for the risk of non-settlement (i.e. if payment of the forex forward order is not made).
Why do I need to keep funds in my deposit account?
You only need to keep money on your deposit account if you intend to make a forex forward order. You will not be able to submit a forex forward order online if you do not have sufficient funds on your deposit account.
When do I have to pay the balance for my Forex forward contract?
You will receive a balance payment email request one day before the maturity date of your Forex forward contract. You will have the option to either pay the balance or the full amount (in which case your deposit will be refunded to your FX account) of your Forex forward contract.