A Robust Response to Misguided Protestors

By on May 17th, 2016 in Editorial

It quickly became apparent that in the minds of the protesters, freemarket was exploiting legal loopholes in order to provide unethically low rates on currency exchanges. freemarket would like to emphasise that this is absolutely not the case; the rates offered are a result of P2P technology that bypasses the excessive (and often hidden, as revealed in a recent Sunday Times article) fees imposed by banks and brokers on FX transactions.


freemarket’s decision to remain silent and let the controversy blow over became untenable when leaked e-mails revealed a little-known backbench MP had used the service (watch the news story here). Activists immediately mistook this as evidence of establishment corruption and staged shocking protests outside freemarket, which only dispersed when the head of a burning Garfield effigy fell off and blocked the entrance to an independent bakery.

“Fargé had secretly and deliberately soiled himself during the negotiations”

In an attempt to stave off future demonstrations, freemarket invited protest leader Gabriel Fargé to a meeting, hoping to explain the entirely legal nature of its service and request that Fargé call off any further rallies. These hopes were dashed as it became clear Fargé had secretly and deliberately soiled himself during the negotiations.

fatcats So it is with a heavy heart that freemarket has decided to go public with the following statement:

freemarket would like to make clear that we are in no way engaged in any manner of corruption, and the idea that we are part of any ‘establishment’ is laughable.

We are able to offer a 0.2% flat fee on FX transactions precisely because we operate outside of established banking norms, and our services are on offer to anyone – particularly small to medium-sized businesses.

Our customers are people who are tired of being mistreated by the powers that be, and now they are being mistreated by the powers that aren’t. We want it to stop.

We make no apologies. We are not the enemy. We are the new way forward.” 


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James is freemarket’s Chief Commercial Officer. He has a history of finding new ways to solve age-old financial challenges and was responsible for launching some of the first online money transfer and prepaid card initiatives in Europe.

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