Funds received from clients

World First UK Limited is an authorised Payment Institution under the Financial Services Authority (No 502759) and thus ensures client funds are kept separate from the company's funds. The UK's Payment Services Regulation 2009 further ensures that client funds are insulated and safeguarded against the claims of other creditors in the event of insolvency.

World First Markets Limited is authorised and regulated by the Financial Services Authority (FRN 477561). If you wish to transact with World First Markets Limited (this would usually be because you want to transact a Foreign Exchange Option), you will be required to sign a separate set of Terms and Conditions, which explain the treatment of client funds for such transactions.

World First never speculates on the currency markets. When you enter into a transaction with us, we enter into a matching irrevocable covering deal with our bank. It is this transaction that turns your sold currency into your bought currency and from which your outward payment is made.

Our two main transaction banks are Barclays and Citibank, however if you prefer, you can send your funds within your bank.  We additionally hold client accounts with HSBC, Bank of Ireland, Royal Bank of Scotland, CommerzBank (Germany) and Westpac (Australia).  We also have correspondent banking accounts in virtually every country in the world.