These terms govern your use of services provided by Edwards FX Ltd and the regulated payment services delivered through our authorised electronic money partner, The Currency Cloud Limited. Please read them in full.
These Terms and Conditions (the “Terms”) form a contract between you (“you” or “the Client”) and Edwards FX Limited, a company registered in England and Wales under company number 16246786, with its registered office at 167–169 Great Portland St, London W1W 5PF (“Edwards FX”, “we”, “us” or “our”). They govern your access to and use of our website, our commercial services, and the regulated payment services we facilitate through our payment partner.
By opening an account, instructing a trade or otherwise using our services, you agree to be bound by these Terms together with any other documents we identify as forming part of our agreement with you, including the customer terms of our regulated payment partner.
Edwards FX is a corporate foreign exchange specialist. Our role is to introduce clients to, and provide front-office service in respect of, the regulated payment and e-money services offered by The Currency Cloud Limited (“Currencycloud”), a company registered in England and Wales under company number 06323311.
Currencycloud is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money under Firm Reference Number 900199. All regulated payment and e-money services — including the issuing of e-money, the holding and safeguarding of client funds, currency conversion and outbound international payments — are provided by Currencycloud under their FCA authorisation, and are subject to Currencycloud’s own customer terms and conditions, which form part of the agreement with you.
Edwards FX is not itself authorised or regulated as a payment institution, electronic money institution or money service provider. Our services are limited to introducing you to Currencycloud, providing dealing support, account servicing, market commentary and other ancillary commercial services.
Our services are intended for use by businesses, partnerships and other commercial entities established in the United Kingdom that are processing payments for genuine commercial purposes. We may also onboard sole traders and other eligible entities at our and Currencycloud’s discretion. We do not currently market services to retail consumers.
To be eligible to use our services you must:
Subject to acceptance of your account and these Terms, the services available include:
The execution of regulated payment activities (currency conversion, holding of client funds, outbound payments) is performed by Currencycloud. Edwards FX’s role is to facilitate and service those activities.
Before any services can be provided, you and your business must complete onboarding checks operated by Currencycloud. These include verification of your identity, your business’s legal status, beneficial ownership, source of funds and nature of trading activity. We may, on Currencycloud’s behalf, request additional information or documentation at any time during the relationship.
We or Currencycloud may decline to accept an application, or terminate an existing relationship, where we are unable to satisfy our regulatory or risk obligations — including but not limited to obligations under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, the Sanctions and Anti-Money Laundering Act 2018, and any applicable sanctions regimes.
Edwards FX earns its commercial revenue by applying a margin (the “FX Margin”) to the wholesale rate at which Currencycloud sources currency. The all-in rate quoted to you, including our FX Margin, is the rate at which the trade will be booked and settled. There are no commissions and no monthly subscription fees.
Outbound payment fees, where applicable, are charged by Currencycloud and disclosed before you confirm a payment instruction. We will tell you, on request, the basis on which our FX Margin is determined for your account.
Once you confirm a trade, the trade is binding. We will issue a trade confirmation showing the rate, amount, value date and settlement instructions.
Forward contracts are made available exclusively for the commercial purpose of paying for goods, services or genuine business obligations. They are not available for speculative or investment purposes. By entering into a forward contract you confirm that:
An initial margin (typically 5–10% of the contract value) may be required to secure a forward, and additional margin may be requested if the market moves significantly against the contract.
When funds are posted to your account, e-money is issued in exchange by Currencycloud, who safeguard the underlying funds in segregated accounts at a reputable UK bank, in accordance with the Electronic Money Regulations 2011.
Safeguarded funds are not commingled with Currencycloud’s own assets and are not used for Currencycloud’s own operating expenses. In the event of Currencycloud’s insolvency, or our own, safeguarded client funds are protected from creditors and are returned to clients ahead of other claims.
Safeguarding is not equivalent to deposit protection under the Financial Services Compensation Scheme (FSCS), which does not apply to funds held by Electronic Money Institutions. For more detail see our Safeguarding page and our Risk Warnings.
You may give us instructions by phone, email or through your client portal. We may treat any instruction reasonably believed to come from you or your authorised representatives as binding. You must notify us immediately of any change to your authorised users or signatory list.
We may record telephone calls and retain electronic communications for compliance, training and dispute-resolution purposes, in accordance with our Privacy Policy.
Nothing in these Terms excludes or limits any liability that cannot lawfully be excluded or limited, including liability for death or personal injury caused by negligence or for fraud.
Subject to the above, we will not be liable to you for any indirect, consequential or special losses, loss of profits, loss of business, loss of opportunity or loss of goodwill arising from or in connection with the services, even if such losses were reasonably foreseeable. Our aggregate liability to you in any 12-month period will not exceed the total fees and FX margin earned by us from your business in that period.
We are not liable for failures or delays caused by events outside our reasonable control, including acts of God, market disruption, suspension of payment systems, regulatory action or third-party failures.
You or we may terminate the commercial relationship by written notice. We or Currencycloud may suspend or terminate the relationship immediately where required by law, by regulation, or where we have reasonable grounds to suspect a breach of these Terms or of Currencycloud’s customer terms.
Termination does not affect any rights or obligations that have accrued before termination, including the obligation to settle any open trade or forward contract.
If you have a complaint, please follow the procedure set out on our Complaints page. Complaints relating to the regulated payment service will be passed to Currencycloud as the regulated provider, in accordance with the FCA’s rules on complaint handling (DISP). You may have the right to refer an unresolved complaint to the Financial Ombudsman Service.
We process personal data in accordance with our Privacy Policy and applicable data protection laws, including the UK General Data Protection Regulation and the Data Protection Act 2018.
We may update these Terms from time to time. We will notify you of material changes by email or through the client portal. Continued use of the services after notification constitutes acceptance of the updated Terms. The current version of the Terms is always available at this URL.
These Terms are governed by the laws of England and Wales. Any dispute arising out of or in connection with these Terms will be subject to the exclusive jurisdiction of the courts of England and Wales.
Edwards FX Limited
167–169 Great Portland St, London W1W 5PF
Tel: 020 3375 6744
Email: info@edwardsfx.io