Your Security

The security of your money is an important part of our business, and we know you will want to seek assurances that your money is safe. To help you with this, here is some information on who we are and how we do business in compliance with and ensuring strict adherence to UK law and regulations. You need to be assured that you can trust us as your currency exchange company. We want you therefore to use the information below to check up on us.

We operate a low risk business model by offering a deliverable-only foreign exchange service. We do not take positions in the market ourselves, thereby assuming very little transactional or market risk.

Each week, we transfer hundreds of thousands of pounds for our clients using highly effective and efficient processes and procedures which are tried and tested. We operate an automated IT platform, which enables us to offer a secure zero commission service with the strongest security.  We focus on aiming to providing the best currency exchange rate, getting the payment to the destination account as quickly as possible and giving an outstanding service.

Our registered company number is 08433786 FIRSTFX Limited and work with our partner FairFX who are authorised and regulated by the FCA (Financial Conduct Authority) under the Payment Services Regulations 2009 (FRN 488396) for the provision of payment services. All funds go from bank to bank and into a client account which is entirely separate from any operating bank accounts.

The Payment Services Regulations 2009 state that your funds held in such accounts are not able to be claimed by creditors. Therefore all funds sent by you to us are held in these segregated accounts used only for our client transactions and so independent from our own business accounts, which are held in a separate bank. No lien is held over client funds in client accounts.

You can look FairFX up on the FCA web site:

http://www.fsa.gov.uk/register/psdFirmBasicDetails.do?sid=207340

Our business is also regulated through FairFX by HM Revenue & Customs (HMRC) as a Money Services Business with regard to the execution of spot and forward foreign exchange transactions. The Registration Number is 12236741. You can look this up on the HMRC website (you will need to enter our name Fair FX and the postcode – it’s EC4V 3BJ). As an approved Money Services Business we follow a strict code which incorporates all the requirements of the 2007 Money Laundering Regulations and other legislation. We ensure and respect best-in-class compliance procedures including strong security, documentation and audit processes.

You can look us up on the HMRC web site:

https://customs.hmrc.gov.uk/msbregister/searchAgain.do

All client funds go into a separate client account with Barclays Bank and are exchanged and transferred out immediately on receipt of cleared funds (All bank accounts are set up in accordance with the FCA regulations). All client funds are held separately in segregated client accounts with Barclays Bank.

Finally, we confirm that FirstFX Ltd is a fully incorporated and properly constituted company under English law. Go to the Companies House website, click on Search Company Information and enter our company number 08433786:

http://www.companieshouse.gov.uk/toolsToHelp/findCompanyInfo.shtml

Any questions? Please e mail or call us compliance@firstfx.co.uk  or +44 (0) 207 778 9368. Alternatively if your busy now request a callback and we will get in touch.