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FIRMA -

Score

1.54 /10
Danger

FIRMA

United Kingdom

5-10 years

Suspicious Regulatory License

United Kingdom Payment License Revoked

Suspicious Overrun

High potential risk

https://firmafx.co.uk

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Comparison

Quantity 1

Exposure

Time Machine
Website

Score

Regulatory Index0.00

Business Index7.20

Risk Management Index0.00

Software Index4.00

License Index0.00

Time Machine
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

FIRMA Foreign Exchange Corporation (UK) Ltd.

Company Abbreviation

FIRMA

Platform registered country and region

United Kingdom

Company website

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Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away! 5
Previous Detection : 2024-11-10
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!

WikiFX Survey

Danger

FIRMA

United Kingdom

WikiFX Verification

Exposure

1 pieces of exposure in total
Pyramid scheme complaint
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FIRMA · Company summary
FIRMA Review Summary
Founded2010
Registered Country/RegionUnited Kingdom
RegulationFCA (Revoked)
Market InstrumentsForeign Exchange, Multi-Currency Account, International Business Payments, Currency Risk Management, Mass Payment Solutions, Marketplace Payments, Xero Integration
Demo Account/
Leverage/
Spread/
Trading PlatformOFX platform, accessible via web and mobile app
Min Deposit/
Customer SupportPersonal clients: +44 207 614 4194, customer.service@ofx.com
Business clients: +44 207 614 4195, dealers@ofx.com
Partnerships: partners@ofx.com
4th Floor, The White Chapel Building, 10 Whitechapel High St, London, E1 8QS

FIRMA Information

Under OFX, FIRMA offers worldwide payment and currency exchange services for both personal and business customers. FIRMA serves both individual clients and businesses with worldwide payment needs with products ranging from multi-currency accounts to mass payment systems to tools for managing currency risk.

FIRMA Information

Pros and Cons

Pros Cons
Offers multi-currency accountsLicence is currently revoked
Various transfer options, including app accessExchange rate margins can vary
24/7 customer support

Is FIRMA Legit?

Under a Payment Licence, the Financial Conduct Authority (FCA) in United Kingdom oversaw FIRMA Foreign Exchange Corporation. Effective from May 3, 2018, the licence number was 541034; it expires May 2, 2024. But the licence status is **Revoked** right now, meaning FIRMA no longer has an active FCA licence to offer regulated financial services in the UK.

Is FIRMA Legit?

Product and Service

FIRMA offers several foreign currency and worldwide payment options. Key products are multi-currency accounts, foreign payments, tools for managing currencies, and services especially tailored for companies like paying suppliers and employees abroad.

FIRMA provides tools like marketplace payments and Xero connection, thereby supporting e-commerce activities as well.

Product and ServiceSupported
Foreign Exchange (FX)✔
Multi-Currency Account✔
International Business Payments✔
Currency Risk Management✔
Mass Payment Solutions✔
Marketplace Payments✔
Xero Integration✔
Product and Service

FIRMA Fees

Applying their own margin on the interbank exchange rate, FIRMA, via OFX provides currency exchange services with fees and margins possibly less than those of conventional banks. The transaction method, the kind of account, and the exchange rates at the time of transfer will all affect the precise expenses.

Fee TypeFeatures
Exchange Rate MarginFIRMA applies a margin to the interbank rate, which can differ from rates typically offered by banks.
Currency Exchange RatesBased on the interbank rate with added margins as per OFXs customer rates instead of direct market rates.
Introductory RateAvailable for new UK customers on the first personal transfer for specific currencies, subject to terms.
FIRMA Fees

Trading Platform

Trading PlatformSupportedAvailable DevicesSuitable for
FIRMA Mobile App (OFX)✔iOS, AndroidUsers looking for mobile access to exchange rates and transfers on-the-go.
FIRMA Web Platform (OFX)✔WebUsers preferring browser-based access with full platform features for currency exchange and transfers.
Trading Platform

User Reviews

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User comment

2

Comments

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FX1494149797
more than one year
Sure thing, I've been using FIRMA for my international payments and currency needs and overall, it's been a pretty good experience. Transitioning to OFX was made easy by the team, and I dig how they kept all the perks of FIRMA intact. The tools they offer are useful, and I particularly like having 24/7 access to my operation history. Their customer service has also been on point. So yeah, if you're looking for a global payments solution that's easy to use and reliable, give FIRMA (and its OFX transition) a shot!
Sure thing, I've been using FIRMA for my international payments and currency needs and overall, it's been a pretty good experience. Transitioning to OFX was made easy by the team, and I dig how they kept all the perks of FIRMA intact. The tools they offer are useful, and I particularly like having 24/7 access to my operation history. Their customer service has also been on point. So yeah, if you're looking for a global payments solution that's easy to use and reliable, give FIRMA (and its OFX transition) a shot!
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2024-02-23 15:15
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lz
more than one year
They got one of the best customer services, unlike other brokers. FIRMA customer service answers any questions promptly and professionally. The platform looks very easy to navigate even for novice traders, you can easily find your way around.
They got one of the best customer services, unlike other brokers. FIRMA customer service answers any questions promptly and professionally. The platform looks very easy to navigate even for novice traders, you can easily find your way around.
Translate to English
2023-02-27 17:37
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