OFX holds client funds in accounts with highly rated financial institutions. In addition, OFX operates an extremely low risk business model whereby OFX never pays out client funds prior to receipt of the currency the client has sold to us. This ensures OFX has zero default risk from client dealings.
OFX is also registered as a Money Service Business at the federal level with the Financial Crimes Enforcement Network (“FinCEN”), which is a bureau of the United States Department of Treasury and is licensed as a money transmitter by relevant state regulatory agencies in the U.S.
For more information visit our regulations page.