Get pre-approval from your Bank

If you are making a one-off large foreign purchase you will need to send money from your bank to your currency broker to settle the trade. Most normal bank accounts have limits on the amount you can send in one go without notice, so may cap payments at £10,000.

So make sure you notify your bank that you will be making a large payment. In some cases, you may need to provide your currency brokers banking and settlement details to get it approved from your bank.