InformationDetailsA Limit Order Forward allows you to set a target exchange rate for a future date. If the market reaches your desired rate, a Forward Contract is automatically booked, locking in that rate for a future transfer.Before you create a Limit Order Forward, ensure you have the following prerequisites met:Forwards enabled on your profile. If this is not enabled, the option to select future settlement dates will not appear.An understanding of the outright forward rate, which is the current spot rate adjusted for forward points.Next StepsTo create a Limit Order Forward, follow these steps:Log into your OFX account.Navigate to FX and Risk Management and select Limit Orders.Click on Create limit order.Click on the Type dropdown. Select Forward. Under Settlement Timing, select your preferred maturity option:a. Specific Date: Choose a fixed maturity date up to 12 months in the future from the time of booking.b. Time Period: Select a fixed term (e.g., 7, 30, or 90 days) that begins automatically from the date your order is triggered.Choose the currency pair and the amount you wish to transfer.Select the Expires on date. Enter your Desired Rate.Note: Your target rate will be compared against the forward market price for your chosen date. Use the indicative rate shown below to see where that market is currently trading, as it differs from the "right now" spot rate.Review your order details and click Continue.Review your order details and click Confirm.Confirmation: You will receive a notification once the order is active. The limit order will remain open for a MAXIMUM of 6 months. However you can set the expiry date on the form.Why is this importantLimit Order Forwards provide a powerful way to manage currency risk without needing to monitor the markets 24/7. By combining the target-rate benefits of a Limit Order with the future-planning benefits of a Forward Contract, you can automate your strategy and secure a favourable rate for future business needs or personal obligations.Related FAQ ArticlesHow do I create a Limit Order?How do I book a Forward Conversion?TitleHow do I create a Limit Order Forward?URL Namekb-3751804940-how-do-i-create-a-limit-order-forward