Help? I'm nervous and confused about foreign exchange


Don't worry. You're not the first and won't be the last to need help. Our traders are a friendly bunch. We'll appoint one of our traders to carefully explain our services to you so that you understand everything before you make any decisions. Switch to First Rate FX. Not only will we save you time and money, you can relax in the knowledge that you're in control.


Supported Countries


The list below shows just some of the popular countries that people use us to send money to. Get in touch with us if you'd like to send your money somewhere else!

Australia Canada France
USA Europe Spain
New Zealand UK UAE



Supported Currencies


A few popular currencies we do are:


Need anything else? Give us a call. We're here to help.


Can a transaction be cancelled?


Once you have confirmed the rate you cannot cancel or change any details of the transaction. When you agree to buy/sell currency with us you enter into a legally binding contract to exchange the agreed currency amounts on the agreed dates.


I have sent funds to an incorrect account number / wrong account name, what should I do?


Get in touch with us at 020 35 888 555. If the transfer has not already been released, we will able to cancel the transfer and return the funds to your First Rate FX account. Should this not be the case, we can either change the account name on the payment or recall the payment for incorrect account numbers.


How do I let you know of changes to my details? E.g. new address?


If your details have changed please email us HERE with your account number and your new information. Just so you know, if you've moved house you may need to provide proof of your new address.


What if I am unhappy with the service I receive from First Rate FX?


If you're unhappy with any aspect of your transaction with us, please contact your relationship manager. Your complaint will always be investigated and you'll receive a formal response. We appreciate all feedback, both positive and negative, as it helps us tailor our services to your requirements.


Can I fix an exchange rate for a future date?


One of the simplest ways to hedge against adverse exchange rate movements is to arrange a forward contract. This is an agreement initiated by you to buy or sell a specific amount of foreign currency at a certain rate, on or before an agreed date.  By fixing the rate of exchange in advance you can protect yourself against fluctuations and possible negative impacts on the amount of money you expect to receive following a foreign exchange transaction. Quite simply it allows you to guarantee today's exchange rates for payments you need to make in the future.


How do you save me money compared to a bank?


Our traders design a customised FX solution that minimizes your risk, gives you competitive rates and guarantees a secure and timely delivery of your funds.


Are there any maintenance costs associated with having a First Rate FX account?


There are no fees for maintaining a First Rate FX account.


Do I earn interest?


We're not a bank and don't hold on to your funds. Therefore, we don't offer interest on any deposits.


Is my money safe with you? Are you insured?


Security is as important to us as it is to you.

1. We're authorised by the FCA

First Rate FX is authorised by the Financial Conduct Authority (FCA) under the Payment Services Directive, Registration No. 537060, for the Provision of Payment Services. First Rate FX is a registered Money Services Business with HM Revenue & Customs MLR No: 12223022.

2. Segregated Client Accounts

First Rate FX provides enhanced security for its clients by holding all client funds in "Segregated Client Accounts" with Barclays. The accounts are ring fenced from the company's own funds and are therefore secure against any administration / liquidation. This means that in the unlikely event of the company falling into difficulties all client funds would be returned to our clients in full.

3. Low Risk Factor

First Rate FX is rated as a 'low risk' company by the UK leading credit agency Experian. Experian has assessed us to be above 74% of all companies in the FX industry. A copy of our credit rating is available on request from our Head Office on 0044(0) 20 35 888 555.

4. Every transaction insured up to £2 million

First Rate FX Limited holds a Professional Indemnity and Crime insurance policy. This policy insures every transaction up to the value of £2 million. The Underwriter's Security rating is Standard and Poor's AA- (Strong) and A+ (excellent) A.M. Best. Although we are not legally obliged to purchase these policies, this illustrates our professional attitude towards our business dealings and our client care policy.

To sum it up, it really couldn't be safer and we intend to keep it that way.


Can I buy travel money or cash from you?


At First Rate FX we can help make international payments from one bank account to another. So we

can't help you out with your travel money or cash at the moment.


How much can I transact with First Rate FX?


We're here to support your needs. Please call us to discuss your specific requirements.


How do I open an account with you? How long will it take?


Opening an account should only take a few minutes and we can usually get you up and running

within an hour (we'll need to verify your identity).


Do you charge fees for payments or wire transfers?


No, we don't charge fees when you make a transfer with us.


Who uses First Rate FX?


Anyone that needs to exchange currency, whether it's to their own account or that of a third party.

We're perfect for expats, businesses, and overseas property owners, to name just a few.


Everything you Need

some useful information and links to guide you through the choices





First Rate FX is authorised by the FCA under the Payment Services Regulations 2009, Registration No. 537060, for the Provision of Payment Services
44 (0)2035 888 555


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