Details: To book a Forward Conversion, do the following steps:

1. Log in to your OFX account.

2. Navigate to the "Forwards" section.

3. Click on "+Create forward".

4. Choose the "Forward date" (or maturity date) for the forward contract, which can be up to 12 months (or longer depending on product terms).

5. Select the currency pair and enter the amount you wish to convert.

6.The system will calculate the initial deposit required based on current margin requirements; this deposit must be paid within three business days to secure the contract.

7. Click on "Continue". 

8.  Review the booking details.  Click on "Confirm" to complete the booking request.

9. A confirmation page is displayed, confirming that the booking was successful:

Why is this page important? Booking a forward contract helps protect your business from adverse currency fluctuations by locking in rates ahead of time, providing certainty over costs and cash flow planning.

Next Steps: Monitor your forward contracts regularly and top up deposits if margin calls occur. Contact your dealer or support team for assistance with complex scenarios.

Related FAQ Articles: 

• How do I pay the deposit for a Forward?