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Foreign Exchange Regulations

Direct FX’s financial services are highly regulated. We:

• Are authorised to provide our financial services
• Are subject to external audits
• Hold client funds separate from the solvency of the company
• Hold professional indemnity insurance
• Have dispute resolution procedures

Authorisations we hold
Direct FX holds an Australian Securities and Investments Commission (ASIC) issued Australian Financial Services Licence (AFSL No. 291471).  Our AFSL authorises us to provide financial product advice and deal in a financial product. It also sets out financial requirements we must meet.

We also hold a derivatives issuer licence, granted by the New Zealand Financial Markets Authority. Our licence is specifically restricted to the provision of FX forward contracts only, for the period of five years from December 5th 2014. We must also adhere to other conditions imposed upon us by the Financial Markets Conduct Act 2013.

Direct FX Limited is a Registered Financial Service Provider, under the New Zealand Financial Services Providers (Registration and Dispute Resolution) Act 2008 – Our FSP Number is FSP16781

External audits we are subject to
Direct FX financial statements are audited annually by PricewaterhouseCoopers

Holding client funds
Client Funds Accounts are held in accordance with the Australian Corporations Act 2001 and the Financial Markets Conduct Act 2013 and our Terms and Conditions. Client Funds Accounts are held separate to the solvency of Direct FX.

Professional Indemnity Insurance we hold
Direct FX holds professional indemnity insurance as is required by law, to cover loss or damage suffered by our clients due to any breaches of licence conditions.

Dispute Resolution
Direct FX has an internal dispute resolution procedure available to all retail clients. We are members of the Financial Ombudsman Service (membership # 14614) and of Financial Services Complaints Ltd (membership # 881).