Private fx

This may be the first time you have ever made an international money transfer and we recognise it can be a daunting and uncertain process.

Our dedicated private client team will guide you through the whole process from first call to final payment, providing the information and assurance that everything is in hand.

I made contact with central FX and their broker, who steered me through the process with minimum fuss and sound advice. A forward fix was suggested while the funds were awaiting S african currency transfer approval, and this resulted in a significant saving when the rand rate dipped lower by the day.

Making money transfers easy.

Whether it’s a one off transaction or an ongoing requirement, our private client team will guide you through the process.

People. Not just numbers.

If you are purchasing a property, transferring pension money or sending funds to a family member, central FX have the expertise to manage your requirements, regardless of size.

As a service led, data driven business, we take the time to understand your requirements which helps to understand and mitigate any potential currency risk.

This may be the first time you have ever made an international money transfer and we recognise it can be a daunting and uncertain process. Our dedicated private client team will guide you through the whole process from first call to final payment, providing the information and assurance that everything is in hand.

The hassle-free way to make international payments.

Speak to a friendly currency expert

Create your online account

Arrange your transfer

Easy as that - order complete

I have used central FX many times over the last few years and have always found the service to be extremely professional with fair rates of exchange. I will continue to use them and highly recommend them to others considering an alternative to the bank.

The central FX account can be instantly used for property investment transactions since it’s possible to send the deposit and the completion statement balance to the solicitor’s account while expecting your regular business bank account to be opened, which can take 4 to 6 weeks sometimes.

I made contact with central FX and their broker, who steered me through the process with minimum fuss and sound advice. A forward fix was suggested while the funds were awaiting S african currency transfer approval, and this resulted in a significant saving when the rand rate dipped lower by the day.

I went to go and see them and they were incredibly helpful and very very professional and gave me great peace of mind that my money was being handled properly. They offered bank beating rates and were very very supportive and communicated with me at every stage along the way. I would definitely recommend them to friends and colleagues in the future.

Johanna - recently bought a property in france

I was transferring my dollars through my bank paying high fees while getting a low exchange rate and no customer service. I have been with central FX since 2015 and the service and support has been outstanding. My money arrives into my UK bank account when I need it and the central FX rep will alert me to a good time to convert dollars to get the best rate.

Bev solinger - US retiree in the UK

Simple. Safe. Secure.

Instant access portal

Instant, access to the trading functions you need, including 24-hour access to over 50 live FX rates, and the option to make multiple international payments in one go.

Security of funds

All transactions go through segregated client accounts held within tier 1 financial institutions, allowing for ring-fencing of client funds and principally matched trades.

Expert FX specialist support

From the moment you register, our expert FX specialists will be available to support you in getting the rates you need and ensuring your paperwork is compliant.

FX market news

Get an instant snapshot of the current markets with our daily FX news updates.

Are you currency safe?

About central FX.

At central FX, we help private clients to manage their currency risk and international payments.

As a service led, data driven business, we take the time to understand our clients and to understand their needs. If you need to send money overseas, our dedicated team of currency risk expert s are here to answer your questions and guide you through the process.

Whatever the amount and wherever you need to send it, we know that sending money overseas can be daunting. That’s why we provide you with a dedicated account manager you can speak with at every stage of the process.

From making payments to managing more complex matters, if currency is central to your business, you need central FX.

Private fx

We've ranked in the sunday times virgin atlantic fast track 100 as one of britain's private companies with the fastest-growing sales #fasttrack100

Individual

Apply as an individual or joint application.

Corporate

Apply as a company, charity or other corporate entity.

FOREIGN EXCHANGE EXPERTISE – GLOBALLY

We deliver solutions, strategies and ideas to customers, from household brands and government bodies to asset managers and private businesses – and almost everything in between.

ENGAGEMENT.
EVALUATION.
EXCELLENCE.

We have a core belief: teamwork makes the dream work. We take the time to understand the needs of our clients first, and find out what’s right for them before advising on the best course of action. Think of it as a working relationship where we do the heavy lifting and our clients guide us along the way.

Structured products

With exceptional structuring skills, we provide clients with a broad and intuitive range of options and derivative structures. Benefits range from market out-performance to no-obligation hedging, enabling our clients to achieve more than they would otherwise be able to with vanilla products.

We offer

Spot, forward and swaps

With excellent counter-party relationships, we provide our clients with great access to the FX market. Our broad range of services allows us to facilitate any type of transaction in almost any location.

We offer

Market orders

We use specific types of market orders to get the market working for our clients around the clock. Whether you’re targeting a specific level in line with your budget, or want to protect yourself from short-term downside, our dealing desk will place the right type of order for you and have it working for as much or as little time as you like.

We offer

Hedging policies

We ensure hedging policies are fit for purpose, whether that’s scrutinising and evaluating an existing policy or writing one from the ground up. Policies not only need to mitigate risk and apply process – they also need to be practical, manageable and measurable. We design all of this into the policy and continually monitor its effectiveness, adapting and developing the policy as your business does.

We offer

Fund FX

Hedge funds, asset managers, private equity and beyond. We provide a multitude of services to financial institutions that helps them optimise their FX risk strategies. These include:

We offer

Last year we converted $4bn of customers funds

In 2018/19 we grew revenues by more than 80%

We grew our global footprint by 100% last year

We build our business around our people. Teams of exceptional individuals who understand the challenges our customers face.

Hedging policies – A working example

An effective hedging policy needs to be truly bespoke to the business it’s designed for. Here’s an example of how we’ve recently helped a client rework theirs for a smarter outcome.

Market orders. When the market works for you

The markets are working 24 hours a day, 5 1/2 days a week. With a well thought out order process, you can be there

Structured products

Utilising derivatives to enhance profitability and gain a competitive edge involves consideration and planning.

Insights

Weekly report

In the press

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Hamilton court FX
103 wigmore street
london
W1U 1QS

Hamilton court FX – italia

Hamilton court foreign exchange limited is registered as a limited company in england. Companies house no. 11366742

Hamilton court foreign exchange limited is registered with the financial conduct authority under the payment services regulations 2009 (FRN 810625) for the provision of payment services.

Hamilton court foreign exchange limited is authorised and regulated by the financial conduct authority (FRN810631).

Hamilton court foreign exchange limited is registered with the information commissioners office under the 2018 data protection act and GDPR (registration number ZA469532)

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Private equity must stop ignoring currency risk

Private equity funds are leaving themselves exposed to FX risk and, despite warning signs, continue without a dedicated strategy.

Hedging currency exposure currently polarises the private equity (PE) industry. There are houses for which hedging currency is integral. These firms might have a carefully considered policy in place which they re-evaluate on an annual basis.

But equally we see experienced managers, with significant foreign currency exposure, who have given FX policy very little consideration at all. Oddly, in the corporate world, FX hedging is seen as essential for protecting margins if the business has international dealings, but the message hasn’t travelled up the chain.

PE funds that operate outside their functional currency could be exposed to FX risk in a number of ways.

Acquisition cost

Asset value

Management fees

Investors

Acquisition cost

When buying a foreign currency asset, funds will have to arrange an exchange upfront, which may create its own risk if FX movements change the investment amount.

Asset value

Bigger still is the impact currency volatility can have during the hold period, with many examples of funds experiencing currency depreciation which mitigates, or totally erodes, hard-won investment gains.

Management fees

Receiving management fees in a non-base currency makes income susceptible to FX movements. For example, if you were an euro-denominated fund with a cost base in sterling.

Investors

Funds may want to create a broader investor which could involve offering feeder funds or share class hedging to a diversified client base in multiple jurisdictions.

A series of market-moving events in recent years have placed the importance of having a FX strategy firmly back in the spotlight. Sterling has been a hot topic since it lost 20% of its value in the four months following the brexit referendum decision and it’s not uncommon to see daily swings of over 1% as we approach the march 2019 brexit deadline.

And this year, the turkish lira lost 94% of its value against the US dollar. This was after trump doubled an existing trade tariff following turkey’s refusal to release a US prisoner because of his apparent involvement in the attempted military coup.

It would be easy to think that these are one-off events, that geopolitical uncertainty and currency volatility will calm down. But, in fact, foreign exchange volatility is a constant.

Analysis of EUR/USD, the most commonly traded currency pair in the world, shows annual positive and negative swings of 20-30% over the past 18 years.

If you consider that between 2010 and 2015, median irrs in the PE world remained flat at around 14%, you can see that the potential implications of being caught unhedged are significant, even if it’s only for a small percentage of your portfolio.

So why is private equity not hedging?

Given the scale of the risk involved, it can be challenging to understand why the PE world has not embraced FX hedging more fully. However, through talking to the industry, we realised it wasn’t the process of hedging that was off-putting. It was the associated capital requirements that were providing the obstacles.

Typically, placing a hedge can involve a significant drain on capital from a collateral perspective because the GP will usually have to place cash security against their position, creating a cash drag.

Given the uncertain and illiquid nature of private equity, it’s typical that a fund will have to roll hedges and change the delivery date, either moving the contract expiry further out or bringing it in. But rolling positions traditionally has not been that straightforward.

There is also the potential for this exercise to create a cash drag. For example, this would happen if that contract has a negative mark-to-market – that is, if it would create a loss if sold back into the spot market. At the time of rolling the deal, the fund would have to cough up more capital to settle that paper mark to market loss, and re-hedge at the new improved rate. This is economically circular, but a very real cash drag for the fund.

For a fund, it’s always important to be efficient with capital. The expected returns on capital from investors mean that locking cash up in FX hedging tools, earning no return, is a cost too far. Not to mention the administrative burden of having to find spare cash if your FX counterparty suddenly makes a margin call at short notice.

Hedging for private equity: A flexible solution

Understanding the capital constraints that private equity is facing, we have sought to develop a more flexible offering, catering to the industry’s needs.

Uncollateralised hedging lines: the first step is having the credit appetite to be able to offer uncollateralised hedging lines. The key here is that we give headroom on a hedging facility so that we don’t need to ask for capital upfront to book the contract. If those positions come out of the money and have a negative mark to market, we seek to provide adequate threshold to remove, or at least reduce, the chance of calling for variation margin. For many funds, our unsecured appetite is adequate. For others with larger requirements, this could mean a secured line, with security against LP commitments, maybe the NAV of the underlying portfolio, or future distributions from the fund.

Historic rate rolls: we understand things can change and you may need to change the settlement date of a hedge. In certain circumstances, when deemed appropriate, investec may be able to amend the maturity dates on hedges without the negative cash flow implications. If the situation is right, we can achieve this by consolidating the original hedge into the new hedge rate and rolling the deal to the new maturity date. A subtle, but crucial advantage our clients have.

A spate of seismic geopolitical events may have put currency volatility in the headlines, but FX risk will never go away. As irrs continue to be constrained by an increasingly competitive market and high valuations, it is crucial that private equity protects its returns from unpredictable currency fluctuations.

We understand that the efficient pricing, flexibility and the preservation of free capital is imperative and so we continually seek to evolve our hedging products to meet the industry’s needs. By providing uncollateralised hedges and the ability to roll those hedges in a simple and cost-effective way, we believe more managers will appreciate that the time has come to stop ignoring currency risk.

Bank-beating international currency transfers

- competitive exchange rates

- transfer online 24/7 or through your dedicated account manager

Sign up for free now

Currencies applicable are SGD, AUD, CAD, EUR, GBP, CHF, HKD, NZD, JPY and USD

Account fees

Opening and maintaining account

Minimum transfer amount

Maximum transfer amount

No maximum transfer amount

Transfer fee

Competitive exchange rate margins

Transferring large sums annually?

Reach out to our account managers to find how out how we manage your funds securely, and save even more on large sum transfers.

Account set-up is fast, simple and free

1 - register for free

Complete the simple online registration form. We'll be in touch to verify some details and complete the process.

2 - book a rate

Let us know who to pay, how much (over $2,000) and in which currency. We'll then confirm your rate so that you can book your payment.

3 - we make your payment

Send your money to us by bank transfer and we’ll make the onward foreign currency payment to the account of your choosing.

Why more than 400,000 global customers choose worldfirst

Experts in FX

£70 billion transferred for our customers since we launched in 2004, more than 1 million transfers per year.

Fast, secure transfers

MAS authorised. We’ll get your money there fast – in most cases on the same day.

Competitive FX rates

Great FX rates from day one. You'll always know what you're paying.

5 star customer service

Manage your international payments online or over the phone. Our experts are available night and day.

Frequently asked questions

Check out our most frequently asked questions.

If you can't find your answer here, call us or drop us an email.

Why are we cutting our prices, and what is different now?

What do customers need to do in order to start benefiting from the new pricing?

Why are some currencies excluded from tiered pricing?

Our clients in their own words

We help hundreds of thousands with their personal currency exchange. Hear allan’s experience of using worldfirst to support family overseas.

Allan – transfers his salary

Allan works in singapore and his family is overseas, so he uses worldfirst to transfer his salary overseas back to the UK to support his family without a worry.

Help & support

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Disclaimer

^[1]fees apply for same currency and some business transactions.

The margin is the percentage difference between the exchange rate we source our currency at and the rate at which we sell it to our customers. We at worldfirst take a smaller spread than other currency companies, and pass this benefit on to our clients, making all our transfers simpler and more transparent.

2. The cost of international payments

For each pricing band we look at the FX spread applied. This is what we use to compare against our fixed bands of (0.5%, 0.25% and 0.15%). When researching and making comparisons it is important to know if any additional transaction charges will be applied such as payment fees or account management fees. For most customers worldfirst does not apply additional fees to make payments or to maintain an account with us. If any fees are applicable these will be made clear to you in advance.

SGM-FX innovative foreign exchange services

From smaller, regular payments to larger one off transactions our private client desk will purchase currencies on your behalf and then transfer your money quickly, efficiently and economically. Here are examples of just some of the services that we can offer you

Transferring money to or from your own foreign bank account or to or from family? Or just simply need to make regular payments for savings or investment purposes? We can send or receive money worldwide in all convertible currencies.

At SGM-FX we aim to make the currency transfer process as simple as possible by providing you with the best exchange rates and guidance on how to go about it. So whether you are buying a property overseas or repatriating capital to buy property in the UK, we can help you.

Investing in bonds or shares in another currency? Buying a new or classic car in europe or undertaking renovations on your property? We are able to send your funds to your designated 3rd party beneficiary to make the process easier for you and to take the worry away.

Do you need to transfer your pension payments abroad to enjoy your well earned retirement? Are you an expat and want to have some certainty for the year ahead as to what your pension or savings will mean? SGM-FX will assist you.

We will set up a standing order for you and we will then convert and pay out your funds on the same day each month, hassle free and with certainty on the exchange rate.

Own a property abroad already with a foreign currency mortgage? We can help you by sending your monthly mortgage payments at a known cost on time promptly each and every month.

Transfer money
internationally with
currency matters

The foreign exchange specialists.

Who we are

Since 2002 currency matters has been providing a highly professional foreign exchange and overseas payments facility to businesses that trade overseas. We offer all our clients market leading technology and a first class service. Whether you are paying an overseas supplier or receiving foreign currency from a customer, currency matters will provide an efficient cost effective facility that will enhance your bottom line.

Currency matters has clients in 76 countries and last year made payments into 134 jurisdictions. We have that global reach and experience that our clients rely on to enhance their own business. We are your global foreign exchange and payments partner.

CORPORATE CLIENTS

Currency matters offer a highly professional foreign currency exchange and payment facility to businesses that trade overseas. Whether you are paying an overseas supplier or receiving foreign currency from a customer, currency matters will provide an efficient cost effective facility that will enhance your bottom line.

PRIVATE CLIENTS

With currency matters you will benefit from our expertise in the foreign exchange market. We will help you secure the best exchange rate and eliminate your currency risk. Your dedicated account manager will be familiar with your requirements, be available to answer any of your questions and will help you determine a suitable strategy.

Transfer money
internationally with
currency matters

The foreign exchange specialists.

Who we are

CORPORATE CLIENTS

PRIVATE CLIENTS

UOB starts FX platform for private bank, retail clients

The singapore-based platform will be launched by the second quarter of 2021, the bank announced monday.

UOB is setting up an electronic foreign exchange pricing and trading platform for southeast asian clients.

The singapore-based platform will be launched by the second quarter of 2021, the bank announced monday.

It will use co-location connectivity to improve pricing capabilities. This allows clients to better tap on market liquidity.

‘all UOB customers, including UOB private bank clients, will be able to benefit from the bank’s FX engine,’ a UOB spokesperson told citywire asia.

The bank said the platform, which is supported by the monetary authority of singapore (MAS), furthers the country’s aim of growing its FX e-trading market.

Peers including BNP paribas and standard chartered have launched similar platforms in singapore this year.

Last september, deutsche bank launched the autobahn FX mobile app allowing institutional clients to make trades on around 200 pairs of currencies.

UOB’s move is ‘another important milestone in singapore’s role as the global FX price discovery and liquidity centre in the asian time zone,’ said lim cheng khai.

‘it remains a key priority for MAS to further broaden and deepen our FX market,’ added the executive director in the regulator’s financial markets development department.

‘we welcome more buy-side participants to join the fast-growing FX e-trading ecosystem in singapore.’

UOB has more than 500 offices in the asia pacific, europe and north american regions.

Its asset management arm rolled out a robo-advisory mobile app to singapore investors in july. UOBAM invest was first launched in 2018 for corporate investors.

Currency transfers up to 8x cheaper than the banks

Transparent pricing of 0.50% or less

No fees on currency exchanges

Transfer online 24/7 or through your dedicated account manager

Currency transfers up to 8x cheaper than the banks

Transparent pricing of 0.50% or less

No fees on currency exchanges

Transfer online 24/7 or through your dedicated account manager

Sign up for free now

NEW - TRANSPARENT PRICING OF 0.50% OR LESS%*

Pricing, often called a margin, is the difference between the rate we buy your currency and the rate we sell it to you. We will always be upfront about where your money goes.

Most banks and FX providers will not disclose their pricing/margin as it’s hidden in the exchange rate you receive as the customer. In many cases a fixed fee is also charged, so the true cost of your transfer is the fee + the margin taken by your provider.

Annual transfer amount (AUD)

Majors: AUD, CHF, EUR, GBP, JPY, NZD, SGD, USD.

Popular: AED, BGN, CAD, CHF, CZK, DKK, HKD, HUF, ILS, MXN, NOK, PLN, RON, SEK, THB, TRY, ZAR (buy only).

50+ additional currencies available over the phone.

^$0 fee offering is based on one payment per FX transaction above AUD 2,000 or equivalent in foreign currency. Additional payments may incur a fee of up to $15 each. Fees may apply for same currency transactions. No opening fees, no account keeping fees and no receiving fees.

Why more than 250,000 global customers choose worldfirst

Competitive FX rates

Up to eight times cheaper than the banks.* we take a smaller margin than the banks, so we can offer you a better exchange rate.

Fast, secure transfers

ASIC regulated. We’ll get your money there fast – in most cases on the same day.

Experts in FX

$125 billion transferred for our customers since we launched in 2004. With more than 1 million transfers per year.

5 star customer service

Manage your international payments online or over the phone. Our experts are available night and day.

Account set-up is fast, simple and free

1. Register for free

Complete the simple online registration form. It takes 5 minutes. We'll be in touch to verify some details and complete the process.

2. Book your transfer

Let us know who to pay, how much (over $2,000) and in which currency. We'll then confirm your rate so that you can book your payment.

3. We make your payment

Send your money to us by bank transfer and we’ll make the onward foreign currency payment to the account of your choosing.

Frequently asked questions

Check out our most frequently asked questions.

If you can't find your answer here, call us or drop us an email.

Why are we cutting our prices, and what is different now?

What do customers need to do in order to start benefiting from the new pricing?

What if I am already on a better margin?

We offer the following products and services:

Live rates & graphs

Spot contracts

Forward contracts

Market updates

Help & support

About worldfirst

Legal

Products & services

Guides

Partner with us

Our blog

World first pty ltd is a designated remittance provider with the australian transaction reports and analysis centre (AUSTRAC), remittance sector registration number: IND100192523-001. Regulated by the australian securities and investments commission (ASIC), australian financial services licence (AFSL) number 331945. Australian company number (ACN) 132 368 971. Member of the australian financial complaints authority, membership number 13405.

If you’re considering making a foreign exchange transaction, or you’re a new or existing customer looking for more information, it’s important your read our PDS available online.

*pricing from 0.50% or less applies to 25 of our major and most popular currencies.

Price match applies if it doesn't result in a loss for us, we'll match it.

Many banks and payment providers frequently claim to offer “fair” and “transparent” pricing, yet the reality is something very different. Our new pricing model aims to provide both new and existing customers with fair, simple and transparent pricing, using 3 clear FX margin bands margins (0.5%, 0.25% and 0.15%) with no hidden fees. With transparent pricing our customers and potential customers can clearly compare worldfirst to our competitors.

How do we collect this data?

Worldfirst obtain price comparisons from other international payment providers’ websites, at specific dates and time using a third-party supplier. The comparison table shows the margin applied by the competition to transfer amounts of AUD 1,000, 10,000 and 50,000 into EUR, USD and GBP.

1. The margin

The margin is the percentage difference between the exchange rate we buy our currency at and the rate at which we sell it to our customers. We at worldfirst take a smaller margin than most banks and other currency companies, and pass this benefit on to our clients, making all our transfers simpler and more transparent.

2. The cost of international payments

For each pricing band we look at the FX margin applied. This is what we use to compare against our fixed bands of (0.50%, 0.25% and 0.15%).

When researching and making comparisons it is important to know if any additional transaction charges will be applied such as payment fees or account management fees. For most customers worldfirst does not apply additional fees to make payments or to maintain an account with us. If any fees are applicable these will be made clear to you in advance.

3. How do we work out a comparison up to 8 times cheaper than the banks

When we collect data from providers, we do it using different “amounts” such as $1,000, $10,000 and $50,000 where possible. For our data we have focused on the top currency pairs in australia: GBP to USD/EUR/AUD.

Because the worldfirst fixed pricing tiers are based on annual volumes transacted by our customers, we have averaged out the margins applied by competitors to transactions of differing amounts in those tiers to calculate an average margin. We take our margins and divide by the average margins of the big 4 banks. This is important, because providers tend to offer better exchange rates and smaller transfer fees when a customer is moving larger sums of money.

What all this means for you

Other money-transfer providers may have variable margins across different currencies, whilst worldfirst now has fixed margins, agreed ahead of time, making it easier to compare.

So, let's see, what we have: making money transfers easy. Whether it’s a one off transaction or an ongoing requirement, our private client team will guide you through the process. People. Not just numbers. If you are at private fx