Codes of Practice for our Foreign exchange services provider:
- Our Foreign Exchange service providers are regulated by HM Customs and Excise in the UK, and registered as a Money Service Business. This obliges us, and them, to conform to the money laundering procedures and practices laid down by these authorities.
- Our Currency Exchange service provider is Regulated by the Financial Services Authority ( FSA ) under number 504346. FSA registration is rare in currency brokers. This is a measure of this Company’s integrity.
- Our Foreign Treasury bank is Barclays bank PLC. As such, we are bound by the UK Banking Regulations and are restricted by Barclays Banking regulations on our ability to deal with certain currencies as they are not considered reliable enough for us to trade.
- FX-Foreignexchange can only take payments from clients who have registered with us. This is partly due to the nature of our contract to trade and partly connected with the Money Laundering Rules.
- FX-Foreignexchange can only receive payments from, and send payments to, bank accounts. We cannot receive, or pay, in cash.
- We do not speculate on exchange rates with client money. The exchange rate offered on a contract, is the currency deal. Our rates are kept low, by buying in bulk and we trade on narrow margins.
- We may give you information and opinions on market movements in order to guide you through an immediate transaction. However, please be aware that markets are liable to fluctuation, and the future is impossible to predict. None of these opinions should be construed as financial advice.
- We always endeavour to give all our clients a level of service in excess of anything they would expect from a corporate banking service.
- FX-Foreignexchange strictly adheres to the HM Treasury Money Laundering rules Consultation & legislation 2007. More information about the Money Laundering rules and regulations.
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If you have any questions regarding our codes of practice, that aren’t answered here, please call us: