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FAq

At Five Star Forex Services our team is on hand to guide you through the process of purchasing and transferring currencies across the world ensuring that you get the best currency exchange rates in the market.

Five Star Forex Services provides exceptionally competitive exchange rates to customers due to the high volumes of Foreign Currency purchased on a daily basis, typically saving up to 4% when compared with high street banks.

Whether you are buying or selling an overseas property or other overseas asset, high value goods, repatriating funds, emigrating, making one off or regular overseas payments, we will save you money using our Competitive Exchange Rates with No Commission or Fees on International Money Transfers. In addition, we provide a personal level of service that is unsurpassed in the Foreign Exchange industry.

  • Why Five Star Forex?

    Who is Five Star Forex?

    How much does the service cost?

    Why do I have to register to use your services?

    How do I open an account?

    How long does it take?

    Is my money safe?

    Why not just use the bank?

    I am not an expert in Foreign Exchange. Will I understand how it works?

    What does a Foreign Exchange specialist do at Five Star Forex Services?

    How will Five Star Forex save me money?

    How long does it take to transfer funds?

    Is there a minimum amount I can transfer?

    How does the service work?

    How can I pay for the currency I have ordered?

    How long do I have to make payment to Five Star Forex for my trade?

    How can I protect myself from fluctuating currency/market movements?

    I regularly make small payments overseas, how can Five Star Forex Services help?

    I have funds available, I'm really happy with the rate but I do not have a bank account ready yet, can you hold my funds?

    What makes the Foreign Exchange market change?

    Do you know what the rate will be next week, month or even next year?

  • Who is Five Star Forex?

    Five Star Forex is one of the UK’s leading specialists in Foreign Exchange Brokering. Our head office is in West London. We are a dynamic business with a global reach, serving a range of clients of Large and Small Businesses across diverse market sectors and including Private Individuals.

    We have in-depth and specific industry knowledge and expertise in Foreign Exchange and our specialists have years of experience in the Financial Markets. We have assisted many clients around the world with foreign currency advice and transactions.

    At Five Star Forex we are committed to providing a focused, premium service that combines a depth of experience and expertise with world-class trading systems. We offer flexible and highly personal account management capabilities, and stringent standards of governance and compliance. We thrive on working with some of the world’s most innovative firms and the people driving the industries of the future.

    We assist firms with their global Foreign Exchange needs and have trusted business Affiliates & Partners all over the world. We work closely with clients, forging relationships which have enabled our network to expand to Asia, USA, and Middle East.

    At Five Star Forex Services will always take the time to understand your concerns, needs and priorities, and will work closely with you to develop and execute the best solution to meet your requirements. We deliver a high level of customer service, and we are proud of the fact that the majority of our business comes from personal referrals.

  • How much does the service cost?

    Nothing!! At Five Star Forex you can open an Account for Free and there is no commission to pay or transfer fees at all. The advice from our Foreign Currency Account Managers is completely Free, you get a personal Account Manager who will be your eyes and ears on the Foreign Exchange market. We make our money as we have access to cheap capital, and buy in large volume on a daily basis.

  • Why do I have to register to use your services?

    Anti-Money Laundering Regulations strictly regulate our industry to make sure that we identify each and every individual using our services which is why we need to identify each and every client with a record of identity and current address.

  • How do I open an account?

    You can complete the Online Form, download the PDF Version, request for a form to be sent in the post or just contact a member of our team.

  • How long does it take?

    It takes no more then a few minutes to process your form and open your account. You will be able to use services on the same day.

  • Is my money safe?

    We are regulated as a money transmitter by Her Majesty's (HM) Treasury and HM Revenue and Customs to comply with the UK Money Laundering Regulations. Our Money Laundering Regulation number is 12576860. This means we adhere to the Anti Money Laundering Regulations 2007, which came into force on 15th December 2007. We are also Regulated by the Financial Services Authority (FSA).

  • Why not just use the bank?

    Banks are big institutions with big overheads, which offer many different products they are often inefficient and unresponsive creatures. We are a lean, efficient firm with small overheads, and access to low cost capital, meaning we can pass this saving on to you. Five Star Forex is a specialist in Foreign Exchange products - our staff will give you their time and expertise on the markets, meaning you have someone who listens and takes care of you. Your single point of contact will watch and listen to the market for you and let you know what is happening in order to make sure you achieve your goal.

  • I am not an expert in Foreign Exchange. Will I understand how it works?

    As soon as you register your personal Currency Account Manager will explain everything to you. He/she will help you with everything including from how to purchase your currency, when to make payments and answering any other questions you may have.

  • What does a Foreign Exchange specialist do at Five Star Forex?

    Foreign Exchange Brokers buy and sell currency in the live international currency market on behalf of clients, based on exclusive agreement with the banks and up to the second live information. This Ensures that clients get superior exchange rates compared to the prices offered by high street banks.

  • How will Five Star Forex save me money?

    Five Star Forex will provide you with a much better exchange rate than the high street banks with a saving up to 4%. We help you avoid the costly charges levied for making international payments. If you have a target rate you wish to achieve or a time schedule you need to meet, we will do our best to make sure you achieve it.

  • How long does it take to transfer funds?

    We can transfer most currencies on the same day anywhere in the world with a few exceptions (some of the more exotic currencies can take between 24-48 hours to arrive in the destination account).

  • Is there a minimum amount I can transfer?

    No, there is no limit to how much money you can transfer.

  • How does the service work?

    You can open your account with Five Star Forex Services in a variety of ways. We recommend online, as it is the easiest. We will get back to you quickly.

    How to open your account:

    Online by completing the secure Online Form,

    Download the PDF Version,

    Request a form to be sent in the post or by contacting a member of our team.

    As soon as your account is set up, a personal Currency Account Manager will call to discuss your needs and advise you on the best way to achieve your requirements. When this is agreed you can book your trade verbally or via email. Once you have bought your currency or your Market Order has been filled, you will receive a trade confirmation (invoice) with our bank details showing you where to transmit the funds by the agreed date.

    Once the cleared funds are with Five Star Forex Services we will make payment to your requested destination.

  • How can I pay for the currency I have ordered?

    There are four ways to settle a trade:

    FASTER PAYMENT.
    A popular method which allows you to move funds the same day within a few hours using on-line banking, (Please note: there are usually limits to the amount that can be sent and not all banks offer this option).

    CHAPS (CLEARING HOUSE AUTOMATED PAYMENT SYSTEM)
    This is a same day transfer, your bank may charge you to transfer money using this method and is generally used for larger sums of money.

    BACS (BANKING AUTOMATED CLEARING SYSTEM) This method is used for online payments and telephone banking and can take up to three working days.

    CASH-
    This method is used, where the customer can visit our head office in Southall. (Please Note that we cannot accept more than £10,000 in cash)

  • How long do I have to make payment to Five Star Forex Services for my trade?

    Payment has to be made to us immediately.

  • How can I protect myself from fluctuating currency/market movements?

    Your Personal Currency Account Manager will advise you on the type of contract that will best suit you, while keeping you up to date on beneficial and adverse rate movements.

  • How can I fix an exchange rate for the future?

    You can use either a Forward Contract or Time Option to secure your exchange rates up to 2 years in advance.

  • I regularly make small payments overseas, how can Five Star Forex Services help?

    Five Star Forex Services Limited have much smaller overheads than a bank, that is why we can offer better exchange rates and save you money on your transfer costs. An easy-to-arrange regular overseas payment plan is available for you to send your monthly amounts overseas with complete peace of mind. We are a Western union agent as well as Money gram, so we can transfer small amounts in minutes.

  • I have funds available, I'm really happy with the rate but I do not have a bank account ready yet, can you hold my funds?

    Five star Forex Services can hold your funds until you are ready for them to be transferred to the destination account. Your money will be held in our secure client account.

  • What makes the Foreign Exchange market change?

    The Foreign Currency market are constantly moving and there is an infinite number of reasons for the changes in the rates of exchange, for example: demand and supply of specific Foreign Currencies, interest rate changes, monetary policy, commodity prices and economic data releases are some of the many macroeconomic factors.

  • Do you know what the rate will be next week, month or even next year?

    There are no guarantees for futures rates, but with our expert knowledge of the FX market and the tools available at Five Star Forex we will help minimize the risk and give the best advice possible.

All conversions are based on the commercial foreign exchange rates provided and regularly updated by Five Star Forex Services Limited without any allowance for spreads or handling charges which will apply. The results should therefore only be used as a guide. The table is automatically refreshed every five minutes. For a live quote or to find out more about how Five Star Forex can help you, call:

Personal clients +44 (0)20 8574 8700

Business Clients +44 (0)20 8571 2444