How We Are Regulated
OFX is regulated in the United Kingdom by the Financial Conduct Authority (FRN: 902028) as an authorised electronic money institution. We provide a range of foreign exchange, payment services, and electronic money services.
When you ask us to pay someone else after converting your currency, we’ll be providing a payment service to you when we send the funds to your recipient. Eligible clients can also sign up to our Global Currency Account, which is an electronic money account. For these services, we are required to:
- segregate client funds in accordance with the Payment Services Regulations and Electronic Money Regulations on safeguarding client funds.
- maintain a defined level of regulatory capital at all times
- apply stringent governance and risk management procedures throughout the business, including in relation to preventing money laundering and other financial crime.
You can learn more about the regulatory environment in the United Kingdom and what it means for your protection and consumer rights on the FCA website.
You can also check our registration here. You should not deal with an international payments provider that cannot demonstrate they are regulated.
OFX is also part of a Global and Listed Company
OFX is part of the OFX Group, which provides foreign exchange services to thousands of customers across 6 continents. OFX Group Limited is a publicly listed entity with shares traded on the Australian Securities Exchange under the code "OFX".