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Currencies Direct Review
Currencies Direct is a UK based money transfer company, not a forex broker. It holds an FCA e money license and moves currency for people and businesses.
Min Deposit
N/A
Spreads From
N/A, this is a payments firm, not a spread based trading broker
Max Leverage
N/A, no leveraged or margin products are offered
Platforms
Currencies Direct web account, Currencies Direct mobile app
Pros
- Holds a genuine FCA e money license, reference number 900669
- Trading since 1996, one of Europe's oldest non bank transfer firms
- Backed by Blackstone since 2023 alongside its existing owners
- Sends money to more than 120 countries for people and businesses
- Ongoing referral scheme pays 50 pounds once a friend transfers enough
Cons
- Not a trading broker, so it offers no CFDs, spreads, or leverage at all
- Ownership has changed hands more than once since 2015
- Some reviewers report delays when the compliance team requests documents
- Referral credit only pays out after a 5,000 pound minimum transfer
Currencies Direct was set up in London and began trading in 1996 as one of the first non bank currency transfer firms in Europe. It grew into a major personal and business payments company, moving money to more than 120 countries for its customers.
The firm is not a forex broker. It holds an Electronic Money Institution license from the FCA, reference number 900669, plus separate registrations in the USA, Canada, South Africa, Spain, and Portugal. Corsair Capital and Palamon Capital have owned the group since around 2015. In November 2023, Blackstone added a 140 million pound investment, creating a new parent company called Redpin to push into payments for the property sector.
Customers use Currencies Direct for one off transfers, regular payments, forward contracts, and a multi currency card. There are no spreads, leverage, or CFDs here, only currency exchange and transfers, plus a referral scheme that pays existing customers once a friend transfers enough money.
Max Leverage
N/A, no leveraged or margin products are offered
Spreads From
N/A, this is a payments firm, not a spread based trading broker
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
