FC Exchange Security & Regulation
Safe and Secure
You’ll want to know that we’re looking after your money, here’s how we do it, who regulates us doing it, and who we are...
FC Exchange is a trading name of Foreign Currency Exchange Limited. Registered office: Woolgate Exchange, 25 Basinghall Street, London, EC2V 5HA.
Registered Company No. 5452483.
Segregated Client Accounts
We hold your money in separate bank accounts to our own, these segregated client accounts guarantee the safety of your funds and we operate strict safeguarding procedures.
The safety of our client’s funds is paramount so we’re always ensuring peace of mind for those who trade with us. We're authorised by the FCA as an Authorised Electronic Money Institution (FRN: 900205), and your funds, as a client, will be held in bank accounts that are completely separate to FC Exchange’s business accounts.
We eliminate market exposure of client funds by immediately booking a corresponding trade with our counter parties (back-to-back) when a trade is executed, meaning your position is entirely covered. And, we also maintain our credit lines by lodging substantial collateral with our trading partners.
An 1A2 Credit rating
FC Exchange holds an 1A2 Credit Rating from global ratings agency, Dun and Bradstreet. An 1A2 rating shows that FC Exchange has considerable financial strength in our ability to offer financial services. For more information, you can search the Dun and Bradstreet website for Foreign Currency Exchange Ltd with the DUNS no, 34-646-7629
Full Grant Thornton Audited Accounts
Our auditors, Grant Thornton have produced our full audited accounts since we started in 2005. You can see them at Companies House by clicking here.
Grant Thornton UK LLP, one of the world’s leading tax and advisory firms are our auditors and have been for ten years now.
All of our fully audited accounts and company information is lodged with Companies House. You can click here and search using our company number 05452483 or our full name, Foreign Currency Exchange Limited.
FCA Authorised Electronic Money Institution
FC Exchange is authorised by the Financial Conduct Authority (FCA) as an Authorised Electronic Money Institution (AEMI) under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900205). As an AEMI FC Exchange is authorised to conduct payment services and complies with parts 6 and 7 of the Payment Services Regulations 2017. You can view our AEMI details on the FCA website.
One of the main benefits of us being an AEMI for you, is that we can store ‘value’ (monies) for you. Our team can guide you through our great products and services we have in order to help you exchange your currency and send international payments in an easy and flexible way.
We were one of the first FX brokers in the UK to become an Authorised Payments Institution. From 27 October 2009 until 05 December 2014 we were an FCA Authorised Payments Institution, adhering to the Payments Services Regulations. If you search the FCA Authorised Payments Institution Register it will show our status as ‘cancelled’ because we now have further permissions as an Authorised Electronic Money Institution. The AEMI FCA permission is a “higher” permission than the API permission. For example, we are required to hold more initial capital as an AEMI than as an API. Further, we are under closer observation from, and have to report more frequently to, the FCA. We think this is better for you as our customer. We have the same permissions we had as an API, but we have additional further permissions. Being an AEMI allows us to provide you with more flexibility in carrying out foreign exchange and international payments transactions. From 2005 until 2014 HMRC regulated us under our HM Customs and Excise under MLR No. 12215508 in relation to Anti-Money Laundering rules and guidance. As an AEMI the FCA now substitutes HMRC in this capacity for FC Exchange.
FSB (South Africa) authorised Financial Services Provider
FC Exchange is a trading name of FC Exchange (PTY) LTD. Registered in South Africa (SA) Company No. 2013/105466/07. FC Exchange is authorised by the Financial Services Board (FSB) in SA as a Category 1 Financial Service Provider (FRN: 45430) approved as an intermediary for Securities and Instruments: Derivative Instruments.