FIRMA Forex Broker

FIRMA Review SummaryFounded2010Registered Country/RegionUnited KingdomRegulationFCA (Revoked)Market InstrumentsForeign Exchange, Multi-Currency Account, International Business Payments, Currency Risk Management, Mass Payment Solutions, Marketplace Payments, Xero IntegrationDemo Account/Leverage/Spread/Trading PlatformOFX platform, accessible via web and mobile appMin Deposit/Customer SupportPersonal clients: +44 207 614 4194, customer.service@ofx.comBusiness clients: +44 207 614 4195, dealers@ofx.comPartnerships: partners@ofx.com4th Floor, The White Chapel Building, 10 Whitechapel High St, London, E1 8QSFIRMA 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.Pros and ConsPros Cons Offers multi-currency accountsLicence is currently revokedVarious transfer options, including app accessExchange rate margins can vary24/7 customer supportIs 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.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 ServiceSupportedForeign Exchange (FX)✔Multi-Currency Account✔International Business Payments✔Currency Risk Management✔Mass Payment Solutions✔Marketplace Payments✔Xero Integration✔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 TypeFeaturesExchange 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.Trading PlatformTrading PlatformSupportedAvailable DevicesSuitable forFIRMA 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.