Canonical: https://unicorncurrencies.com/features/rate-locks/ # Intelligence: Live FX Trading with 15-Second Rate Locks ## Summary Lock favorable rates for 15 seconds—no instant expiry stress Lock favorable FX rates for 15 seconds before booking your deal. No more rates expiring while you deliberate. Our 30-second live rate refresh ensures you always see current market pricing with transparent 0.5% spreads. ## How It Works - **Step 1:** See Live Rates — View real-time exchange rates across 40+ currency pairs. Rates refresh every 30 seconds from our tier-1 liquidity providers. - **Step 2:** Click to Lock — Found a favorable rate? Click "Lock Rate" to freeze it for 15 seconds. A countdown timer shows exactly how long you have. - **Step 3:** Review Details — See the exact amount your supplier will receive, all fees, and the total cost. No hidden charges—what you see is what you pay. - **Step 4:** Confirm or Release — Confirm to execute at the locked rate, or let it expire to wait for better rates. No penalty for letting locks expire. ## Benefits - 15-second rate lock window vs instant expiry at banks - Live rates refresh every 30 seconds - 0.5% transparent spread vs 2-4% at banks - See exact conversion amount before confirming - No hidden fees or markups - Lock multiple rates simultaneously for batch payments ## Use Cases - **Volatile Currency Timing:** GBP/CNY drops 0.5% in morning trading. You lock the rate, call your operations manager to confirm the order, and execute within 15 seconds. Without the lock, the rate would have moved against you. - **Batch Payment Optimization:** You need to pay 10 suppliers in EUR. Lock the rate, then process all 10 payments at that exact rate. Consistent costing across the batch. - **Board Approval Required:** Large payment needs sign-off. Lock the rate, send approval request via internal chat, get the green light, and confirm—all within 15 seconds. ## Operational Difference - **Rate Lock Duration:** Unicorn Currencies: 15 seconds. Banks: Instant expiry. - **FX Spread:** Unicorn Currencies: 0.5% transparent. Banks: 2-4% (often hidden). - **Rate Visibility:** Unicorn Currencies: Live, updates every 30s. Banks: Indicative only. - **Hidden Fees:** Unicorn Currencies: None. Banks: Correspondent bank charges, lifting fees. ## FAQs - **How long can I lock an FX rate?** You can lock any rate for 15 seconds. This gives you time to review the transaction details, check the exact amount your supplier will receive, and confirm. If you need more time, the rate expires and you can lock again at the current rate. - **What spread do you charge on FX?** We charge a flat 0.5% spread on all currency pairs—no exceptions, no hidden markups. Banks typically charge 2-4% spread plus additional fees. Our transparent pricing means you always know the true cost. - **How often do rates update?** Rates refresh every 30 seconds from our tier-1 liquidity providers. You always see current market pricing, not stale indicative rates. - **Can I lock rates for future payments?** Currently, rate locks apply to immediate payments. For forward contracts on future payments, contact our enterprise team. We offer forward bookings for payments 1-12 months out. - **What happens if my rate lock expires?** Nothing—no penalty. If the 15-second lock expires, simply lock again at the current rate. This lets you wait for better rates without commitment.