FX brokers partnered with the Money Cloud

Currency brokers

White knights of currency markets

Firstly, let’s explain exactly what a foreign exchange broker (also known as an FX or forex broker) is. They’re part of non-bank Money Service Businesses, which means they don’t offer speculative trading. Instead they provide money remitting and currency exchange services for individuals and corporations. These are usually done on the spot market with average global daily transactions of $1.49 trillion.

Money Service Business (MSB) services can include one or more of the following:

  • currency dealing/exchanging
  • cheque cashing
  • money remitting
  • issuing, selling and redeeming stored value instruments (money orders, travellers’ cheques) and monetary instruments (coins, notes).
MSBs carrying out any money remittance services have to be on Financial Conduct Authority’s register. This is required by law, under the Payment Services Regulations 2009.They can be authorised payment institutions, small payment institutions or agents of them.

All our foreign exchange brokers are authorised payment institutions, unlike Bureaux de Change and money transfer organisations (MTOs). Our brokers also aren’t limited to remittances. Their focus is on helpingindividuals and corporates make a wide variety ofinternational paymentsas cost-effectively as possible.

We carefully screen all the companies we work with. As an absolute minimum, they all:

  • are FCA authorised
  • are regulated by relevant governmental authorities in the country of operation (if not UK-based)
  • offer bank-to-bank money transfers
  • operate client segregated accounts
  • are qualified to provide expert advice on the currency market


Comparison tool

Xavier Pasquini

This is a good way to help people on choosing how to send their money online!!!

Chloe Rogers

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International Money Transfers for Individuals

If you are purchasing overseas property, paying tuition fees, receiving your pensions or for whatever reason, transferring money internationally can be a costly. We compare the services on offer for the amount you wish to send and save you money by finding the best exchange rates and lowest fees.

Paying overseas suppliers in their own foreign currency

PAYING OVERSEAS SUPPLIERS FOR GOODS AND SERVICES

When paying overseas suppliers on a regular basis, currency conversion costs as well as fees when using your bank all add up. The Money Cloud saves you money by introducing you to specialist foreign exchange companies when conducting overseas business purchases and expenses.

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