FundFX Institutional Currency
Institutional currency for investment funds
FundFX helps UK funds and fund managers get better FX and international payments from regulated providers. We put your requirement to several providers without naming your fund, review what you pay today and help you switch without missing a payment.
Blind quotes
Can a fund compare FX providers without revealing its name?
Yes. Send us the currency pair, the amount, the product and the date. We put the requirement to several providers on our panel with your fund's identity withheld, then show you every indicative price side by side.
| What providers see | Currency pair, amount, value date, settlement needs, fund type and domicile |
|---|---|
| What they do not see | Your fund's name, the manager, your investors, your current provider or your contact details |
| What comes back | Indicative rate, spread to mid at the time of quote, fees, cut-offs and how long onboarding takes |
| When your name is shared | Only when you choose a provider and ask us to introduce you, so it can run its own checks |
Quotes are indicative until your fund is onboarded with that provider. How blind quotes work
FX cost review
How do we know if we are overpaying on FX?
Compare the rate on each trade with the market mid at the moment you traded. The gap, in basis points, is what you paid on top. Our cost review does this across 6 to 12 months of trades and shows the spread by pair, size and quarter.
spread (bps) = |your rate − mid| ÷ mid × 10,000
Worked example: GBP/USD mid 1.2700, you received 1.2637 selling sterling. 0.0063 ÷ 1.2700 × 10,000 = 49.6 basis points, about £4,960 on £1m.
Rate creep and switching
Why does a good FX rate get worse after the first year?
Because the sharp rate you were shown at onboarding is not always the rate you keep. A common complaint from fund finance teams is a margin that widens quietly once the account is set up, on the bet that switching feels like too much work. The fix is to measure it and to re-quote regularly.
Switching without disruption
Keep your bank or current provider open while the new one is tested. Nothing moves until small payments have settled cleanly, and forwards already booked run to maturity where they are.
Once you have moved, we re-quote your main flows every year so your provider knows someone is checking.
- Weeks 1 to 2BaselineA cost review of your current trades.
- Weeks 2 to 4Blind quotesYour real flows priced by several providers.
- Weeks 3 to 6Due diligenceAuthorisation, safeguarding and onboarding for each fund entity.
- Weeks 6 to 10Test and pilotSmall payments and one live flow, old account still open.
- Weeks 10 to 13Move and reviewFlows moved one by one, then a review against the baseline.
What funds use us for
Where does FX cost a fund money?
Mostly in a handful of moments: investor money arriving in one currency and going out in another, a completion abroad, paying people overseas and, for some funds, hedging.
- Capital calls and distributionsInvestors pay in their currency and the fund deploys in another. Receive, convert or hold, and pay back out on time.
- Deal completions abroadCurrency and settlement lined up for completion day, with cut-offs checked at both banks.
- Multi-currency accounts and paymentsBalances in the fund's name, suppliers, advisers and investors paid abroad, reporting your administrator can use.
- Choosing a providerWhat to check before a fund trusts a non-bank provider with its money, including safeguarding.
Who we work with
Which funds is FundFX for?
Funds and fund managers with regular cross-border flows: private equity, venture capital, hedge funds, property funds, private credit and family offices. We work with CFOs, COOs and finance directors, and with the fund administrators and investor relations teams who run the payments day to day.
FundFX is for professional and institutional clients only. It is not a retail forex or trading service and has nothing to do with funded trader programmes.
How we are paid
Who pays FundFX?
Providers pay us, not your fund. When you choose a provider through FundFX, that provider pays us a share of what it earns on your trades. We tell you how that works before you choose, and we show you every quote we receive, including ones from providers that would pay us less.
We never hold your money. Your fund contracts directly with the provider. Money moves between your fund's accounts and the provider, which safeguards it under its own FCA authorisation. FundFX never receives, holds or routes client money, and never sends or changes payment details.