What does FundFX actually do?
We do the comparison, the paperwork around it and the checking afterwards. The provider does everything that touches money.
Think of FundFX as the part of a treasury team most funds do not have: someone who knows which providers onboard which fund structures, what a fair spread looks like for your sizes and pairs, and who will notice when pricing drifts.
| Activity | FundFX | The provider | Your fund |
|---|---|---|---|
| Understanding your flows | Asks the questions and writes the requirement | Not involved | Explains pairs, sizes, timing and entities |
| Quotes | Sends the requirement blind and collects prices | Prices it | Reviews the table |
| Provider facts | Checks authorisation, safeguarding, ownership and fund experience | Answers questions and provides documents | Decides who to use |
| KYC and onboarding | Coordinates timings, holds no KYC documents | Runs its checks directly with your fund | Provides documents to the provider |
| Trades and payments | Never involved | Executes trades and makes payments | Instructs and approves |
| Client money | Never holds, receives or routes it | Safeguards it under its FCA authorisation | Keeps control through its own approvals |
| Ongoing review | Compares actual spreads with quotes and re-quotes yearly | Provides statements | Decides whether anything changes |
How does it work, step by step?
Seven steps, from a first conversation to a yearly check. Most funds reach their first trade with a new provider in a few weeks, with nothing switched off at their bank along the way.
Tell us about your flows
A short call or the quote form: which currencies, typical sizes, how often, which entities pay and receive, and who your administrator is.
Blind quotes
We put the requirement to several providers without your fund's name. How blind quotes work.
Compare side by side
One table with each rate's spread to mid, fees, cut-offs and onboarding time. If you want, we set it against a cost review of what you pay now.
Check the shortlist
Dated facts on each shortlisted provider: FCA status, how client money is safeguarded, ownership and latest accounts. What we check.
Introduction and onboarding
With your agreement we introduce you to the provider you chose. It runs its own checks with your fund and opens accounts in the right entity names.
Test, then trade
Small test payments first, then one real flow, then the rest. Your existing provider stays open throughout. The 90-day switching plan.
Yearly review
We compare the spreads you actually paid with what was quoted and re-quote your main flows blind, so your provider knows someone is checking.
How does FundFX choose the providers on its panel?
Only firms authorised by the FCA as a bank, payment institution, e-money institution or investment firm, and only after we have checked the facts that matter to a fund.
- Authorisation type and firm reference number checked on the FCA Register before any introduction, and rechecked at least once a year and on any adverse news.
- A clear written explanation of how client money is safeguarded: a segregated account at a named bank, or insurance or a guarantee.
- Ownership and the latest filed accounts reviewed.
- Experience with funds: capital calls, distributions, SPVs and working with administrators.
- Accounts that can be opened in the fund's own name, with dual approval and user controls.
- Willingness to price requests blind and to agree confidentiality terms with us.
- A signed agreement with FundFX that sets out how we are paid.
Every check is dated and kept on file. We will publish the names of providers on our panel once agreements are signed and each provider has agreed how it is described. Until then we tell you who they are when we send your quotes.
Who does the KYC, and what will we need?
The provider does, directly with your fund. FundFX does not collect or store your KYC documents.
Each provider has its own checklist, but for a fund it usually covers the constitutional documents of each entity that will hold an account, details of the general partner or manager, the directors and authorised signatories, the beneficial owners above the provider's threshold, and the source of the money that will flow through the account. Administrators often hold most of this already, which shortens the process.
We tell you in advance what each shortlisted provider will ask for and roughly how long onboarding takes for your fund type and domicile, so there are no surprises after you have chosen.
Do you stay involved after we switch?
Yes. Once a year we compare what you actually paid with what you were quoted, and re-quote your main flows blind.
Pricing that starts sharp and widens quietly over time is common enough to have a name. A yearly check is the simplest way to stop it, because a provider that knows its pricing will be compared tends to keep it where it was. More in our guide to FX rate creep. We also recheck each provider's FCA status and safeguarding arrangements every year.
How is FundFX paid?
By the provider you choose, not by your fund. Our share comes out of what the provider earns on your trades.
We tell you the basis before you choose and show you every quote we receive, including from providers that would pay us less. The full disclosure is on how we are paid.
Is FundFX regulated?
FundFX is a trading name of Introvisory Ltd, which is authorised and regulated by the Financial Conduct Authority (FRN 948814).
Introducing funds to FX and payment providers for spot currency and payments is not a regulated activity, so it is not covered by that authorisation. The providers that carry out your transactions are each authorised by the FCA in their own right, and you can check them on the FCA Register. Read our important information for the full position.