We will provide you with a brokerage service, but we work with Currencycloud who provides regulated Payments and E-Money services to support your FX activity.
How does the relationship between Currencycloud and VFEX work? What's my relationship with Currencycloud?
Currencycloud is a regulated E-money Institution and Payments institution and operates in a number of countries across the world. Please see the footer of this email for more details on the licences we hold.
The table below explains some of the key aspects of your relationship with VFEX, and with Currencycloud.
You establish a relationship with VFEX when you sign up, for the provision of all services related to your account that are not regulated payment or e-money services.
VFEX provides services to you as agreed between us. VFEX has a partnership with Currencycloud who also provides certain services to you under this arrangement, specifically, payments and e-money services such as an e-wallet.
As VFEX owns the relationship with you, they are responsible for providing you with ongoing help & support and they are your day-to-day point of contact for queries. They are also responsible for the provision of services to you in relation to your account that are not regulated payments and e-money services.
You establish a relationship with Currencycloud - this may be when you sign up with VFEX or when VFEX started working with Currencycloud and introduces you to them.
Currencycloud is an authorised financial services entity ultimately providing the regulated payments and e-money services to you via their technology, platform and payments network, enabling VFEX to provide a seamless service to you.
Currencycloud is responsible for regulatory compliance regarding provision of regulated payments and e-money services to you under this agreement. For a full definition of what amounts to a regulated payment or e-money service, please refer to the FCA guidance here and here. You can also find Currencycloud's complaints procedure on our website if you have any concerns about the service you have received.
