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

V Piccciani

Everything went great. The money is in the account in Brazil exactly the amount we agreed, very fast and safe, thank you very much for the service

Felicity Liebmann

Used your service last week to get travel money from ICE and it all worked beautifully. Very efficient and easy, the cash arrived when it was due so there was no hanging about waiting or anxiety about it not arriving when promised.
Spain property

MAKING OVERSEAS PAYMENTS FOR BUYING PROPERTY IN SPAIN

When purchasing a property in Spain, we explain all the steps involved in the purchase. We can demonstrate how to make the most of your money when making the international payments to cover the purchase price and fees and how to avoid exchange rate risks.

Purchasing overseas property - satisfying your currency needs for payment

EMIGRATING - TRANSFERRING YOUR ASSETS OVERSEAS

Moving overseas can be daunting, with many unexpected aspects to your move you might not have considered. We cover all the financial basics of moving abroad, from the expenses to consider to the most cost-efficient ways to transfer your bank accounts and financial assets to your new home.

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