Regulation

The financial strength of the group is integral to Monex’s past and continued success in the future.

Regulatory status

Monex Europe Limited is authorised and regulated by the Financial Conduct Authority (FCA) under the Payment Services Directive (PSD) as an Authorised Payment Institution – firm registration number 463951.

Funds received by us for foreign exchange transactions are out of scope of safeguarding as foreign exchange is not a payment service.

As Monex Europe Limited is not a bank or investment firm, client funds are not protected by the Financial Services Compensation Scheme (FSCS).

What we do with your money

Safeguarding rules are primarily designed to protect customer funds received for the provision of a payment service held by a firm on behalf of its clients from the assets or liabilities of the firm itself, creating an asset pool from which to pay the claims of payment service users in priority to other creditors in the event of the insolvency of an institution.

The only thing that can be paid from safeguarded accounts before customers are paid back their money is the cost of the receiver (person appointed to manage the closure of a failed company).

Which funds are safeguarded by Monex Europe?

As an Authorised Payment Institution, Monex Europe Limited must safeguard any funds received from clients in order to execute payment transactions on their behalf to third party beneficiaries.  Funds received by us for foreign exchange transactions are out of scope of this requirement as foreign exchange is not a payment service.

Our systems consider all client balances irrespective of which banking institution or jurisdiction the funds are held in.  We calculate and categorise relevant funds daily with relevant funds deposited at an Authorised Credit Institution, into accounts titled to show they are used for safeguarding client funds.

If you have specific queries, please contact regulatorycompliance@monexeurope.com

Settlement

Monex Europe provides clients with a secure trading environment to transact foreign exchange business. Our clients are provided with a highly secure system for communicating payment instructions and other sensitive data globally, while all outgoing payments and FX transactions made can be traced up to delivery.

  • All payments are settled through Barclays Bank PLC in London
  • Monex Europe operates PSD compliant client trust accounts
  • Corporate member of SWIFT – SFXLGB2L