Frequently Asked Questions

WHY ARE YOU INTRODUCING ME TO FX CORP PTY LTD

REFX Pty Ltd ACN 157 779 863 was a corporate authorised representative (423983) of FX Corp Pty Ltd ACN 165 555 046, which is regulated by ASIC, Australian Financial Service Licence No. 459050. Client funds are held under Australian Client Money Rules, in FX Corp segregated bank accounts with primary banking institutions. FX Corp Pty Ltd has the necessary professional indemnity insurance that complies with Section 912B of the Corporations Act and ASIC regulatory guide 126.

WHO HOLDS MY MONEY?

FX Corp hold all client funds in segregated client accounts with Macquarie Bank within Australia (AUD only) and with other major primary banking institutions across the world for all other currencies offered. FX CORP Pty Ltd only use primary banking institutions to hold and transfer currencies on your behalf.

HOW SECURE IS EXCHANGING CURRENCY ONLINE WITH FX CORP ?

The FX CORP PTY LTD online dealing platform is hosted on a secure server and all of your activity and information is securely held. They have systems and processes in place that safeguard against any unauthorised use or disclosure of your personal information. You can trade online with FX Corp from 8:30am Monday morning AEST until 7pmFriday evening AEST.

HOW ARE RISKS AVERTED?

Settlement risk is minimised by FX Corp Pty Ltd, as all monies must be cleared and received by FX Corp before any payments are made. You can also be assured that they have the appropriate risk management processes in place.

WHAT CURRENCIES CAN I EXCHANGE WITH REFX & WHAT ARE THE INTERNATIONAL PAYMENT CUT-OFF TIMES?

Currently REFX Global allows you to exchange and convert the following Currencies:

Country Currency Cut-Off Time (AEST)
United Arab Emirates AED (United Arab Emirates Dirham) 1:00pm
Australia AUD (Australian Dollar) 1:00pm
Canada CAD (Canadian Dollar) 12:30pm
Switzerland CHF (Swiss Franc) 12:30pm
China CNH (Chinese Yuan – Offshore) 10:00am
Czech Republic CZK (Czech Koruna) 12:30pm
Denmark DKK (Danish Krone) 12:30pm
Europe EUR (Euro) 12:30pm
Great Britain GBP (Great British Pound) 12:30pm
Hong Kong HKD (Hong Kong Dollar) 10:00am
Hungary HUF (Hungarian Forint) 12:30pm
Israel ILS (Israeli Shekel) 12:30pm
Japan JPY (Japanese Yen) 10:00am
Mexico MXN (Mexican Peso) 1:00pm
Norway NOK (Norwegian Krone) 12:30pm
New Zealand NZD (New Zealand Dollar) 9:00am
Poland PLN (Polish Zloty) 12:30pm
Sweden SEK (Swedish Krona) 12:30pm
Singapore SGD (Singapore Dollar) 9:00am
Thailand THB (Thai Baht) 9:00am
Turkey TRY (Turkish Lira) 12:30pm
United States USD (United States Dollar) 1:00pm
South Africa ZAR (South African Rand) 12:30pm

WHAT DO I NEED TO DO IN ORDER TO USE FX CORP PTY LTD SERVICES?

In order to ultilise FX CORP services an REFX team member will personally introduce you to one of the experienced traders at FX Corp. They will first need to establish an account. It is very simple to open an account with FX Corp you will need to complete an application form that provides them with details relating to the entity that will be trading. Downloading the relevant forms and faxing or emailing them back to them can complete this. By law, to comply with the AML/CTF Act, REFX needs to formally identify the person making the application to open an account. Therefore, you will also be asked to send in copies of certain identification documents.

HOW DOES IT ALL WORK?

After opening an account, you simply call your dedicated relationship manager at FX Corp or log on to our trading platform to get a quote, and, if you are happy to accept this quote, you can lock it in. REFX will obviously keep in touch with you to make sure you are happy with the trading with Fx Corp.  You will need to advise FX Corp Pty Ltd of your beneficiary details and once the funds have been received, they will then forward your bought currency to the nominated beneficiary.

CAN REFX TELL ME WHEN THE FUNDS HAVE BEEN SENT TO MY SUPPLIER OR BENEFICIARY?

FX Corp Pty Ltd will inform you when the funds have actually been sent to the beneficiary.  You can request this payment confirmation directly from your relationship manager.

ARE FX CORP's RATES BETTER THAN OTHER PROVIDERS?

Yes, a representative from REFX will introduce you to a licensed trader that can advise the exchange rates offered by other providers. You will then be able to feel free to compare their prices with your current provider. They have very strong relationships with foreign exchange liquidity providers which allow them to access some of the most competitive rates in the market.