Frequently Asked Questions

We’ve pulled together some key FAQ’s that people have when it comes to foreign exchange and international currencies.

(It’s an ever-growing list that is added to regularly.)

Our FAQ’s are divided into three sections. Hit the button below to choose which type you are looking for.

Currency FAQ's

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Most world currencies can be openly traded however there are some notable exceptions like the Indian Rupee (INR) and the Brazilian Real (BRL).

With Cornerstone, you can transact in over 25 major currencies. You can find out more on our ‘Currencies’ page.

What is a spot trade?

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A spot trade is a single trade using the live exchange rate for your chosen currency pair. Subject to various checks, the payment will be made as soon as possible.

What is a forward contract?

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A FX forward contract enables you to fix the current exchange rate for a payment up to 24 months into the future.

It hedges your currency risk and protects you from negative rate movement.

Cornerstone only offers forwards for transactions concerning goods and services.

Can I trade FX options or swaps with Cornerstone?

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Cornerstone does not currently offer any FX derivatives to clients aside from forwards.

What is a limit order?

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A limit order enables you to choose your desired exchange rate and if your chosen rate is hit, the payment will be executed by Cornerstone.

If your rate is not hit, your order will remain pending.

What is a stop-loss order?

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A stop loss order enables you to limit your losses if the market rate moves against you.

We agree on a rate at which we should sell your currency to prevent further losses.

Payments FAQ's

How do I contact the Payments Team?

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If you’re looking to trade FX with Cornerstone, please contact our expert currency team on +44 (0) 203 971 4865.

We are available Monday – Friday, 8:30am to 5:30pm.

When will my beneficiary receive payment?

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We aim to make the payment the day we receive your funds. The speed of the payment depends on the value date, time of payment, transaction currency and compliance approval.

If you have any queries about your payment timeline, please contact us on +44 (0) 203 971 4865.

What currencies can I trade with Cornerstone?

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With Cornerstone, you can transact in over 30 major currencies. You can find out more here.

Some world currencies cannot be openly traded such as the Indian Rupee (INR) and the Brazilian Real (BRL).

Can I make payments online?

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Yes. You can sign up for our online platform here.

If you are a client that currently trades over the phone, please contact your account manager to discuss setting up an online account.

How do I use the online platform?

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Click on the Edit Content button to edit/add the content.

Where can I get support with the online platform?

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Please contact us on +44 (0) 203 971 4865 or use our live chat feature.

How long will it take to be set up on the Cornerstone payment platform?

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Getting started with Cornerstone is quick and easy.

Once you have started an online registration or requested a callback from our expert team, we will onboard you straight away.

Make sure you have the relevant key documents about your business and source of funds and your specialist account manager will have you ready to trade in no time!

Cornerstone FAQ's

Is a Cornerstone Online Account free to sign up for?

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Yes, it is completely free to create a Cornerstone Online Account and it comes with no obligations to make a transaction.

Are you really cheaper than a Bank?

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Yes! We’re able to access the currency markets directly without having to go through third party platforms. Unlike banks, we’re a lean and agile company that simply doesn’t need to charge the same fees or percentages to be profitable.

My company isn’t registered in the UK, can I open an account?

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Yes, companies who are registered in 70+ jurisdictions including the EU, USA, China, Israel, Japan and South Africa can sign up.

For a full list of permitted jurisdictions get in touch with us.

How do I sign up for an account?

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It’s really simple to sign up for an account, hit the ‘Sign up’ button at the top of the page.

If I have another question, can I easily speak to a real person?

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Yes, calling 020 3971 4865 puts you straight through to our team who are based at in the City of London.

Frequently Asked Questions

Currency FAQ's

Payments FAQ's

Cornerstone FAQ's

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