Regulatory v22021-01-29T13:41:43+00:00

    Regulatory Controls

    Your money in safe hands

    You can be safe in the knowledge that Optimal Currency will ensure the safety and security of your International Transfers. We are fully Authorised and Regulated by the Financial Conduct Authority (FCA) for the provision of payment services and for compliance with the Anti Money Laundering (AML) regulations.  As an Authorised Payment Institution (API) we hold the highest level of authorisation in the UK for making your payments. It also means we comply with strict rules on how we conduct our business, treat our customers and secure and protect our customers funds and sensitive data. Optimal Currency’s Firm Registration Number (FRN) with the FCA is 830790 and you can find us and information about us on the FCA Register

    FCA Register

    Safeguarding your funds

    As an API, Optimal Currency operates safeguarded client accounts so the currency you buy from us is segregated away from our business funds and assets. Safeguarding your funds in this way gives you peace of mind; segregated client funds can be returned quickly and easily should an API cease trading.

    Times Higher

    Well capitalised company

    Vitally, Optimal Currency is authorised under permission 5 (issuing payment services) as well as permission 6 (money remittance) of the Payment Services Regulations meaning Optimal Currency has capital adequacy requirements over six times higher than those firms authorised for money remittance only.

    The Capital Adequacy requirements are minimum levels of the firm’s own capital that must be held in order to ensure the safe running of the firm.


    Times Higher

    Compliance and Operations

    The team at  Optimal Currency have a combined industry experience of over 65 years and have assisted in successful international transfers of over £1Bn.

    Optimal Currency has an independent Money Laundering Reporting Officer (MLRO) who has over a decade’s worth of experience as an MLRO in this sector and holds an ICA Diploma in Anti Money Laundering.

    We have in house Compliance and Operations departments. Unlike many companies we have chosen not to outsource these functions overseas in order to reduce overhead costs. We believe the best outcome for our customers is a fast and compliant service where our dedicated brokers, compliance staff and operations team are all able to efficiently serve our customers needs with no chance of an international communications breakdown.

    Your payments and transfers are screened thoroughly and efficiently by our in house compliance team to ensure each and every transfer is verified prior to processing. This approach allows Optimal Currency to maintain the highest regulatory standards and gives you peace of mind that your transactions are being handled by a responsible payments service provider.


    Years Experience

    Customer Charter

    Our customer charter is here to inform you, our customers, about the level of service you can expect when doing business with us and what to do if you’re unhappy and feel the need to complain. It’s really important to us that any problems are identified and rectified quickly.

    Our customer charter consists of four key undertakings:

    1. We seek to ensure the well-being and success of our customers at all times.
    2. We will optimise the process of exchanging currency so that it is easy and efficient for our customers.
    3. We promise always to listen to our customers, record feedback and seek to improve our processes as a result of customer feedback.
    4. If a customer is unhappy for any reason we will do everything that we can to rectify the situation to the customer’s satisfaction.

    Frequently asked questions

    Is Optimal Currency Regulated?2021-02-03T11:20:46+00:00

    Yes. Optimal Currency is an Authorised Payments Institution under the Payment Services Regulations 2017. If you want to find more information please visit the FCA’s website, they’re the UK regulator for currency brokers.

    Is my money safe with Optimal Currency?2021-02-03T11:20:46+00:00

    As mentioned, your peace of mind is our priority, which is why we operate in a compliant manner in accordance with strict FCA regulations. In most cases, client payments are made on the same or next day that the funds are received, and you will have email confirmation when your currency is on the way. In cases where we must hold your funds for longer, such as the margin deposit for a Forward Contract, then your funds are held in a separate client account that is designated for margin only.

    Can I pay you from someone else’s bank account?2021-02-03T11:20:46+00:00

    Payments from third parties are generally not acceptable due to the strict regulations we adhere to. There are several circumstances such as receiving the proceeds of a property sale from Solicitors or Notary’s that are absolutely fine. Be sure to chat with your dedicated broker before you send funds to us just be on the safe side, we don’t want to delay your payments unnecessarily.

    Inspiration to do better2021-02-03T11:23:31+00:00

    The founders of Optimal Currency are inspired by a mission to do better – better for their staff and better for their customers – far better than they had seen elsewhere in the sector. They understood that if they were to empower and trust a team of highly skilled and experienced individuals to make decisions, excellent results would inevitably follow.

    What philosophy helps drive the company forward?2021-02-03T11:24:00+00:00

    The cornerstone of our culture is excellence. Customer Service, expertise and flexibility are three of our core principles. Teamwork, communication, and hard work drive us forward. We are mindful that one transaction for you might be the culmination of many years of hard work. We are privileged to help you with the final step.

    A 200 mile round trip2021-02-03T11:24:46+00:00

    Here’s just one example of our dedication –

    One of our Senior Brokers recently made a 200-mile round trip to help a customer. He had to collect, copy and validate essential documents, all while wearing full PPE. Following a property sale, our customer had travelled back from France. His belongings, including smartphone, were still in a removals van on the ferry and he could not verify himself securely using our App.

    Could the situation have waited until the following week? No. In fact, the customer’s funds needed transferring to his solicitor that very afternoon. It was clear what had to be done. So, Adam jumped in the car and got the job done. The funds were transferred with 20 minutes to spare! In future, we encourage customers to send us the necessary information a bit earlier, and definitely to use the App!

    A Limited Company in England and Wales Company Number 11627191

    Authorised & Regulated by the FCA, FRN 830790

    Registered with the ICO for Data Protection, Reference number: ZA482625

    A member of AFEP, the Association of Foreign Exchange Providers

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