What is FundFX?
FundFX is a UK introducer that helps investment funds and fund managers get FX and international payments from regulated providers. It runs blind quotes, reviews what funds pay today and supports switching provider. It does not hold money, make payments or execute trades.
More: How FundFX works
Is FundFX a forex trading or funded trader firm?
No. FundFX is not a retail forex or trading service, not a funded trader programme and not a fund or share class ticker. It works only with professional and institutional clients that need to move money between currencies for real business, such as capital calls, completions and payments.
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Who is FundFX for, and who is it not for?
FundFX is for investment funds, fund managers, family offices and fund administrators that are professional clients. It is not for individuals, retail clients or anyone who wants to trade currencies for profit.
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What is a blind quote?
A blind quote is one request put to several providers on our panel without naming your fund. Providers see the currency pair, amount, product, value date and fund type, but not your fund's name. You compare the indicative prices side by side and decide who, if anyone, you want to be introduced to.
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Are blind quotes binding prices?
No. Blind quotes are indicative until your fund is onboarded with the provider and passes its checks. The provider then quotes live prices to your fund directly.
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How do we know if we are overpaying on FX?
Compare the rate on each trade with the market mid at the time you traded. The difference divided by the mid, multiplied by 10,000, is your spread in basis points. Our cost review does this across 6 to 12 months of trades and shows the spread by pair, size and quarter.
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How long does a cost review take?
Usually about two weeks from receiving a complete trade list, and sooner for a single trade.
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Can we start with just one trade?
Yes. Send one redacted trade with its date, time, currency pair, amount, rate and any fees, and we will show you the spread on it before you share anything more.
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What is FX rate creep?
Rate creep is when the margin in your FX rate widens after onboarding, often a few basis points at a time, so the fund pays more each year without anyone deciding it should. A cost review by quarter shows it, and a yearly re-quote helps stop it.
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Can we keep our bank while we try a new FX provider?
Yes. Most funds run a new provider alongside their bank, test small payments first and move flows one at a time. Check any fund finance facility for account covenants before you start.
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What happens to forwards we already have if we switch?
They stay with your current provider and run to maturity. Existing forward contracts cannot simply be moved to a new provider, so keep that account open until the last one settles.
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Who holds our money?
The provider your fund contracts with. FundFX never receives, holds or routes client money, and never sends or changes payment details for anyone.
What is safeguarding?
Payment and e-money institutions must keep client funds separate from their own money, in a segregated account or covered by an insurance policy or guarantee, so the funds can be returned if the firm fails. It is not deposit insurance. Stricter FCA safeguarding rules in CASS 15 apply from 7 May 2026.
More: Choosing a provider
Does the FSCS protect money held with an FX provider?
Generally no. The FSCS does not cover e-money or payment services. Deposit protection at banks, up to £120,000 since 1 December 2025, excludes collective investment undertakings, investment firms and financial institutions, which covers most funds and fund managers.
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What happened to Argentex?
Argentex, an FCA-authorised payment and e-money firm with fund clients, stopped carrying out regulated business on 17 July 2025 and entered special administration on 21 July 2025. It is one reason we check how every provider safeguards client money before introducing it.
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Who pays FundFX?
The providers do, not your fund. The provider you choose pays us a share of what it earns on your trades, and we explain how that works before you choose.
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Is FundFX independent of the providers it recommends?
We are paid by providers, so we explain exactly how and show you every quote we receive, including from providers that would pay us less. We record why each provider was matched to your fund separately from what it pays us.
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Which providers does FundFX work with?
Only firms authorised by the FCA as banks, payment institutions, e-money institutions or investment firms. We will name our panel once agreements are signed and each provider has agreed how it is described.
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Do you work with Guernsey and Jersey funds?
We can introduce Channel Islands funds where a provider on our panel onboards island structures. Tell us the fund's domicile when you ask for a quote.
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Does FundFX arrange forwards or options?
Not at present. FundFX introduces funds for spot FX and international payments. Forwards and options are investments, and we will only introduce them once a permitted route has been confirmed.
More: Important information
Not answered here? Ask us directly or call 020 7566 0044.