What??? How can that be possible?

When you buy or sell currencies through a bank or an FX broker, the deal is settled on the currency markets and the bank or platform charges you a commission of up to 4%. Even if they promise ‘0% commission’, there
are fees to pay which put you back in the same ball park for costs.

But when you exchange via freemarket, it’s different. We match your request to change, say, 10,000 EUR into GBP, with the request from another Member to change GBP into EUR.

 

The currencies are literally swapped between you, on the same day. If,on rare occasions, the exchange needs a little help to complete a transaction, we arrange it swiftly and without bothering you via the conventional currency markets. We run the whole freemarket platform quite happily by charging a flat commission on each trade of just 0.2%, so the savings you make as a Member are, well… huge.

Did you really say just 0.2%?

We did. freemarket Members pay only 0.2% commission for each exchange. So say you exchange £25,000 a month. At 4% through a bank you’d be paying £1,000 a month in commission. As a member of freemarket, you’d be paying £50.

But we’d need a lot of members to make this work, right?

Yes. We would. And there are already well over 1000 businesses and individuals actively using freemarket to execute their currency trades on a daily basis. Many of them are very substantial traders. So freemarket has a lot of liquidity.

 

Can I trust this? I mean... how big is freemarket?

Big. And growing fast.

Currently, we’re settling around £150 million every month in currency and international payments between our members around the world.

That means that, collectively, they could be saving as much as £5.7m a month in charges.

Trade on Amazon and have EU revenues?

Get them back to the UK in GBP for just 0.2%.

Do you sell through Amazon and constantly have EUR revenues to repatriate to the UK? We can set up freemarket members with their own EU IBAN number, which means you can transfer EUR funds direct to our platform, and then trade them into the currency of your choice, all for just 0.2%.

“Make no mistake. freemarket is not just another bunch of FX brokers with a technology platform. This is a fantastic rethink on how to combine Members’ exchange activity to save everyone a pile of money. We love it.”

Suresh Kumar, Co-Founder & CEO, Scene

Which currencies can I exchange?

You can buy from and sell to almost any global currency via freemarket, and exchanges between GBP, USD, EUR, HKD, CAD and AUD are commonplace.

So just checking. You guys are regulated?

freemarketFX Limited is authorised by the Financial Conduct Authority as an Authorised Payment Institution under the Payment Services Regulations 2009 (Firm No. 585093). We are also regulated by HMRC under Money Laundering Regulations 2007 (Registration No. 12601391). Your funds
are safe and held in separate bank accounts from the business.

So what happens if I register?

Go ahead and do it. Click the button. You’ll just be asked for a few details and we’ll then contact you to verify your application for security.