Regency FX Detailed Review

Rates, Fees, Limits, Safety and More

Last updated: September 14, 2022

What is Regency FX? An introduction

Regency FX company information

Regency FX is one of the fastest growing, privately owned currency exchange companies in the UK.

Regardless of if you're transferring funds to family or friends, making a payment abroad, scheduling a regular transaction or buying a house, Regency FX is the simplest and easiest way to guarantee the best exchange rates on the market.

Dedicated Account Managers

A trained, experienced, and knowledgeable account manager is assigned to every client, their sole purpose is to ensure that Regency FX meets your expectations in every way.

Your account manager will be your point of contact throughout your journey with Regency FX. Your dedicated trader will be able to answer any questions, give insight into the market and keep you and your money safe and secure during the transfer.

What services does Regency FX provide?

Regency FX specializes in large volume, bank to bank international money transfers. They do not charge any transfer fees on their money transfers, and you also get a much better exchange rate compared to banks.

Regency FX provides many useful services related to FX as listed below:

• Spot Contracts: A spot contract is a currency exchange executed at the current market conditions and the applicable exchange rate. This is a great option if you simply need to send money at a given time to ensure your overseas recipient gets the funds soon.
• Forward Contracts: A forward contract is a locked exchange rate for up to 12 months. This is perfect for cases where you want to make your money transfer immune to the inherent volatility in the FX market. Use this when you do not need the money available overseas quickly.
• Limit Orders: A limit order is a way for you to let Regency FX know of a target exchange rate you have in mind. When market conditions change and your rate threshold is reached, your transfer will be processed. This is a great way to achieve a desired payout you have in mind for your money transfer.
• Recurring International Payments: These are regular international money transfers that can help with overseas monthly bill payments and related needs. Simply let Regency FX know how much to transfer at what frequency, and they will do the rest.
• Market News and Information: Your dedicated account manager at Regency FX will keep you updated with ever-changing market conditions that may impact your currency pair. This can help stay on top of upcoming market swings to time your money transfers more optimally.
• Exchange Rate Alerts: You can also set up exchange rate notifications in the Regency FX trading system. You will get notified when the market hits your configured threshold exchange rate.

From spot and forward contracts to limit orders to recurring transfers and rate alerts, Regency FX offers a wide range of useful FX services.

Based on your money transfer needs, you can take advantage of one or more of these very useful FX related services. Every money transfer is unique, and a variety of FX products and services helps you choose what serves you best.

Which countries does Regency FX operate in?

Regency FX currently enables individual as well as business customers like to send international money transfers from numerous source and destination countries worldwide. Plus, they are always expanding their coverage, so if your country is not supported yet, check back regularly.

Where can I send money from with Regency FX?

If you are a legal resident of a country whose currency is supported by Regency FX, you can sign up and use their money transfer services to send money overseas.

Regency FX currently support transfers between the following 35 global currencies:

• United States Dollar (USD)
• British Pound (GBP)
• Euro (EUR)
• Bahraini Dinar (BHD)
• Bulgarian Lev (BGN)
• Canadian Dollar (CAD)
• Czech Koruna (CZK)
• Danish Krone (DKK)
• Hungarian Forint (HUF)
• Indian Rupee (INR)
• Indonesian Rupiah (IDR)
• Japanese Yen (JPY)
• Kenyan Shilling (KES)
• Kuwaiti Dinar (KWD)
• Malaysian Ringgit (MYR)
• Mexican Peso (MXN)
• New Zealand Dollar (NZD)
• Norwegian Krone (NOK)
• Omani Rial (OMR)
• Israeli New Shekel (ILS)
• Philippine Peso (PHP)
• Polish Zloty (PLN)
• Qatari Riyal (QAR)
• Romanian Leu (RON)
• Saudi Riyal (SAR)
• Singapore Dollar (SGD)
• South African Rand (ZAR)
• Swedish Krona (SEK)
• Swiss Franc (CHF)
• Thai Baht (THB)
• Turkish Lira (TRY)
• Australian Dollar (AUD)
• Ugandan Shilling (UGX)
• United Arab Emirates Dirham (AED)

That's currency corridor support; obviously Regency FX's country corridor support is much wider since numerous countries have the same currencies. For example, Euro is used in many European nations. Similarly, many countries use the US Dollar as their primary legal currency.

Where can I send money to with Regency FX?

Regency FX's list of supported 35 currencies includes both source and destination countries. This means you can use their money transfer services to interchange them.

For example, both US to Philippines, and Philippines to US money transfers can be completed with Regency FX since United States Dollar (USD) as well as Philippine Peso (PHP) are supported.

You can exchange between 35 global currencies using Regency FX money transfer services.

Is Regency FX a safe way to send money abroad?

As a money transfer business that is regulated by the Financial Conduct Authority (FCA) in the UK, Regency FX has to ensure strict compliance with various security protocols and guidelines. This helps them maintain their certification with the FCA, and thus ensures that your money and information are safe with them at all times.

Below is an example of some of the security and safety practices that Regency FX has in place to protect you and your hard earned money.

• Regency FX complies with Know Your Customer (KYC) legislations. That is why you must register an account with them and may also need to provide photo IDs to ensure they can verify your identity. This also helps safeguard you against the risk of someone else opening an account on your behalf.
• Regency FX also complies with Anti-Money Laundering (AML) regulations. As part of this, you may be asked about the source of your funds, and may need to provide proof of the same. This helps ensure that the money is procured by legitimate means.
• Regency FX deposits your money into a safeguarded account. Safeguarding is a process whereby your money is held separately from the financial institution's money. This means that even if the holding organization was to become insolvent, your funds are still safe and can be refunded back to you.
• Regency FX's payment providers, Currency Cloud Limited and Sciopay Ltd are both FCA regulated and authorized payment companies, and comply with all legal and compliance rules and regulations.
• Regency FX implements multi-factor authentication (MFA) by asking you to setup a second authentication mechanism when you access your account. This 2-factor authentication (2FA) approach increases account security by necessitating a second login via the Authy app or a code sent via an SMS to your phone.
• Regency FX maintains full transparency about various stages your transaction progresses through. You are always in the know, and in control of your money as it moves from one country to another.

As a company that handles huge amounts of money from customers who put their trust in them, Regency FX implements many security policies and seems to take the security and safety of your money as well as information very seriously. This is exactly what you want to see in a money transfer company so you have full peace of mind when you entrust them with your money.

Can I trust Regency FX?

One important aspect of being able to trust a financial institution is to see their level of compliance with laws and rules. This is especially important in the financial services domain as your hard earned money is on the line.

Let us take a look at what sort of compliance Regency FX maintains with globally recognized financial and regulatory watchdog institutions below.

• Regency FX Ltd is registered with the Financial Conduct Authority (FCA) in the UK and adheres to all rules and regulations laid by them.
• Currency Cloud Limited provides payment services for Regency FX, and is an FCA authorized organization licensed to issue electronic money under the Electronic Money Regulations 2011. Currency Cloud is registered in the UK with the Company No. 06323311 and Firm Reference Number 900199.
• For Regency FX's US operations, Currency Cloud partners with the Community Financial Services Bank (CFSB) that owns the banking and payment services provided by Currency Cloud Inc.
• Sciopay Ltd, an England & Wales company with Registration Number 12352935, provides payment services for Regency FX. Sciopay Ltd is regulated by the FCA and authorized as an Authorized Payment Institution with a Firm Reference Number 927951.
• Sciopay Ltd is also registered with His Majesty's Revenue and Customs (HMRC) as a Money Service Business (MSB) with a License Number XCML00000151326.

You can read up further on Regency FX's regulatory and compliance information on their website. This information is readily available in their website footer.

Regency FX implements numerous security measures and is regulated by global financial regulatory institutions. Your money and information should be safe with them.