Answering some of the most frequently asked questions.
Every time you exchange one currency for another is a foreign exchange [FX] transaction.
By making an online payment or bank transfer to the account
details we provide you with. You can trade first and pay by the
settlement date, or deposit funds first and then use them to settle
trades. You must send us the funds required to settle your trade.
(Forward trades will typically require a 5-10% deposit, with the balance
due on the settlement date.)
Certain currencies (GBP, Euros and USD for example) can be bought
for immediate settlement/delivery = same day, or for the next working
day. A Spot trade means the settlement and delivery date is two working
days after the trade. A currency bought for delivery beyond two working
days and up to two years is called a Forward contract. Forward contracts
can be used to lock in an exchange rate today for a later date.
On receipt of cleared funds, payments are released to the
beneficiary account details you have supplied. The funds will credit
their account on the same day if in Western Europe or the US, and on the
next working day for most other currencies/locations. Our payments team
can advise you of what timings are possible for the currency you wish
to purchase and send.
We enable you to access very competitive exchange rates which you wouldn’t normally be able to acquire yourself. This means you save money compared to who you might normally use to convert currencies and make international payments. Transparent pricing and fast settlements save you time and money. Say goodbye to bank charges, expensive currency accounts and poor exchange rates.
Setting up an account and having your own named currency account
costs nothing. All costs are included in the exchange rate. The exchange
rate you are offered compared to the live interbank rate is agreed when
the account is set up. There are no further fees, commissions or
payment fees unless previously agreed when your account is set up.
Yes we can. We have over 70 different currency accounts which we
can receive funds into. You can also have an account in your own name if
you expect to receive several payments from third parties and would
like to use your name and account details on your invoices.
HampdenFX’s Payment and Foreign Currency Exchange Services are provided by The Currency Cloud Limited which is registered in England No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199)' The Currency Cloud is an FCA regulated entity who handle all your funds, manage all compliance and anti-money laundering requirements that regulate our business. Funds are safeguarded by The Currency Cloud at a credit institution.
Safeguarding Funds: When funds are posted to your account, e-money is issued in exchange for these funds, by an Electronic Money Institution who we work with, called Currencycloud. In line with regulatory requirements, Currencycloud safeguards your funds. This means that the money behind the balance you see in your account is held at a reputable bank, and most importantly, is protected for you in the event of Currencycloud’s, or our, insolvency. Currencycloud stops safeguarding your funds when the money has been paid out of your account to your beneficiary’s account.
Click on the relevant button on the HampdenFX homepage depending on the type of account you require.
Please find complaints information HERE