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1. What are Held FX Rates?
Held FX Rates allow you to lock in an exchange rate for a specified period of time.
Once a rate is held, it remains guaranteed and can be used to execute a trade during the hold window, even if the market moves.
2. Why would I use a held rate instead of a real‑time rate?
Real‑time FX rates fluctuate continuously and may change between the moment you show a quote to your user and when they confirm a transaction.
Held Rates solve this by giving you:
- Price stability throughout the user journey
- Simpler integration (no need to refresh rates constantly)
- No FX risk exposure - Currencycloud manages this for you
Held Rates are ideal for journeys with multiple steps or delays (e.g., adding beneficiary details, checkout flows, invoice payments).
3. Can I request a Held Rate for an FX Forward?
No, Held Rates can only be requested for settlement within Spot.
4. How long can a rate be held for?
You specify the hold period in your quote request.
Typical options include:
- 30 seconds
- 1 minute
- 3 minutes
(Exact available durations depend on your configuration. These must be pre-defined)
5. How do I request a Held Rate?
Held rates are requested via a same quoting endpoint (/v2/quotes).
We return:
• A locked FX rate
• A quote ID that is valid for the duration of the hold window
You then use the quote ID to execute the trade using our existing Conversions endpoint (/v2/conversions/create).
6. Can I use a held quote more than once?
No, held quotes are single‑use only.
Once used in a trade, the quote ID cannot be reused.
7. Does the conversion amount have to match the quote amount?
Yes, held rates require the conversion amount to match exactly the amount specified in the quote request.
This ensures the risk profile of the quote remains accurate.
8. What happens if the hold period expires before I execute the conversion?
The quote becomes invalid.
You will need to request a new quote and a new hold period.
9. How is pricing handled for Held Rates?
Held FX Rates include a risk‑based markup reflecting:
- The volatility of the currency pair
- The length of the hold period
- Current market conditions
You receive an all‑inclusive rate in your quote.
10. What currency pairs are supported?
Held Rates support a growing list of currency pairs.
Please contact your Account Manager for the most up‑to‑date coverage.
11. Do Held Rates introduce any additional risk or cost for my business?
No, all FX risk during the hold period is absorbed by Currencycloud, not by you.
You simply display the held rate to your users and execute the trade if they proceed.
12. Can Held Rates improve user conversion?
Yes, clients often see improved completion rates because users are not surprised by changing payment amounts.
Stable pricing creates trust and reduces drop‑off during the payment process.
13. Are Held Rates available globally?
Yes, Held Rates can be used by clients in all regions where Currencycloud supports FX conversions.
14. How do Held Rates affect my integration effort?
They generally simplify integration.
Because the rate is stable, you don’t need to:
• Refresh quotes every few seconds
• Manage rapid rate changes
• Handle mismatches between displayed and executed amounts
Most clients find held rates reduce development complexity.
15. What happens in volatile market conditions?
In highly volatile periods, we may:
• Adjust risk markups dynamically
• Limit hold periods for certain pairs
• Temporarily disable held rates for specific pairs
These safeguards ensure product stability and protect both parties from excessive risk.
16. Can Held Rates be used alongside WeekendFX?
Not currently. We’re looking to extend Held Rates to be compatible with WeekendFX in future releases. As of right now Held Rate requests with hold periods which pass into weekends will be rejected.
17. How do I enable Held Rates on my account?
Contact your Account Manager. Once enabled, Held Rates will be available through our quotes endpoint.