As soon as contracts are exchanged, the transaction becomes legally binding. Before the exchange, there's no legal obligation to complete and it's possible for either party to withdraw from the deal without legal penalty. Once you exchange, you've formally committed to transfer legal ownership of the property.
This is a professional who advises clients on how to trade, invest, or hedge their exposure to foreign exchange risks. Foreign exchange consultants can work for banks, brokers, corporations, or individuals.
Advises international clients on foreign markets and fluctuations. Maintains current knowledge and close following of major commodity markets including crude oil, petroleum and natural gas products, agricultural products, and precious metals. Recommends products based on international currency and commodity markets.
With FX accounting, you must record transactions in another currency at the exchange rate in effect at the time of the transaction or immediately afterward if an exchange rate isn't available for that specific date.
As a Foreign Exchange Consultant, you will play a pivotal role in advising clients on currency exchange strategies, market trends, and risk management.