The safety of your money is an important consideration when deciding which provider you use to send money internationally.
UKForex is part of the OzForex Group which also includes CanadianForex, NZForex, OzForex, ClearFX and Tranzfers. The Group completes over 300,000 funds transfers per year on behalf of over 100,000 transacting customers, and has annual turnover of US$7 billion.
Since its launch in 1998, the OzForex Group has grown to be one of the world's largest online foreign exchange companies, with dealing rooms in Sydney, London and Toronto. The Group is a strategic investment of Macquarie Bank, Accel Partners and the Carlyle Group.
In the United Kingdom under the Money Laundering Regulations 2007, commercial foreign exchange companies are treated as "Money Service Businesses" which are covered by regulations administered by HM Revenue & Customs. UKForex Limited holds a certificate of registration for Money Laundering Regulation (MLR). Registration number: 12219180.
UKForex is also authorised and regulated in the United Kingdom by the Financial Services Authority (FRN: 521566) for the provision of payment services. You can visit the FSA website to learn more about the regulatory environment in the United Kingdom and what it means for your protection and consumer rights.
UKForex offers a safe and regulated alternative to the banks for transferring funds. UKForex efficiently transfers money from customer to beneficiary via leading financial institutions. UKForex does not pay out customer transfers until customers have paid UKForex. This means the Company has no settlement risk on transfers. As UKForex does not carry any overnight market risk, the Company does not suffer losses resulting from exchange rate movements and so you can feel comfortable that your transfer will reach the recipient on time, every time.
Your funds are held in accounts with major financial institutions and are only released once your outward payment has been sent. UKForex is a trusted provider to thousands of customers world-wide who have enjoyed the benefits of excellent rates and low fees without compromising on service.
You may also wish to read the press release for details of Macquarie Bank's investment in the OzForex Group in 2007, and the subsequent addition of Accel Partners and the Carlyle Group as strategic investors in 2010 in the Media Centre.
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