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How can I exchange currencies (Spot)?
How can I exchange currencies (Spot)?

With this instructions we explain how you can exchange currencies at the current rate (spot).

Sabrina Maly avatar
Written by Sabrina Maly
Updated over 2 years ago

To book a spot trade you can either:

A) stay on your Dashboard (first page after login) and scroll down to the section "Currency Exchange" or

B) select "Currency exchange" on the left-side bar menu in your amnis account.

You can then select the currency you would like to buy and the currency you would like to sell. Please note that you only need to enter the amount in one currency. The amount in the other currency will be calculated automatically with the exchange rate.

In case the currency you would like to buy or sell does not appear in the dropdown list, go first to "Accounts" (left-side bar menu) and open a new virtual account in the desired currency:

After you have selected the desired currency pair, entered the right amount and chosen the date (current date + up to two value days for a spot trade), hit "Request Rate" or "Instant exchange".

You will now be presented with the current quote, which you can accept or decline. This quote is your final exchange rate, no additional fees will be added.

Since the spot market is constantly changing, there is a time limit of 15 seconds to accept the offer (blue "Confirm" button):

Please beware that once you have confirmed an offer, the trade has been issued and needs to be fulfilled. Deleting an fx trade is not possible.

If you have booked a wrong trade, please contact our support team. The currency exchange can be offset with a reversed trade. However, this may cause some additional cost due to the constant changes on the fx market.

Once confirmed, you will receive a confirmation email with all details, including the payment instructions.

Additionally, you can decide directly in the next step what to do with the currency you just bought. Select your preferred option here and enter the payment.

For further information on your payment options and how to proceed after a currency exchange, please consult this article.

For instructions on how to book a forward trade, please read this article.

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