Competitor Revolut

For many use cases, absolutely yes. It supports 25+ currencies and its Grow and Scale tiers offer 5 and 10 free international transfers per month, respectively (the Basic plan offers zero). Revolut Business offers £1,000, £15,000 and £60,000 in monthly transaction volume at the interbank rate across its three tiers. Additional transactions incur a 0.6% fee.

However, its hedging offering has tighter limits than other FX platforms in terms of currency, usage and fees, and is missing some tools like options.

For businesses with regular hedging requirements, specialist FX platforms can offer more complete toolkits with personalised pricing. Alt21, Ebury and OFX all offer forward contracts as a core product rather than an add-on feature. Alt21 additionally offers FX options and structured products, with pricing shown transparently before each transaction.

Forward contracts are available on Grow, Scale and Enterprise plans as well as individually negotiated plans. The Basic plan does not include access to FX forwards. Forwards are also restricted to UK-incorporated limited companies and PLCs.

No. Revolut Business offers forward contracts only. FX options, which give you the right but not the obligation to exchange at an agreed rate, are not available. If you need the ability to participate in favourable rate movements while maintaining downside protection, you will need a provider that offers options.

The default limit is £500,000 per contract. Larger contracts can be requested via the Revolut Business sales team, up to £15 million, though these are negotiated individually.

Revolut requires a 5% initial deposit for GBP/EUR/USD forwards and a 10% deposit for other currency pairs. This is held against the contract and returned at settlement. It is not a fee, but it does represent working capital that is unavailable for the duration of the contract.

Yes – there is no such thing as a fee-free forward contract. But it’s worth noting Revolut Business’s two-tier fee structure. Contracts involving GBP, EUR and USD only are charged at 0.8%. Any contract involving a currency outside those three (CHF, CZK, DKK, HUF, NOK, PLN, RON or SEK) is charged at 1.5%, with the deposit requirement doubling from 5% to 10%. The same fee applies on cancellation, plus any mark-to-market difference.