Studio 61 Wealth Management Ltd offers currency exchange and foreign currency hedging services as an affiliate of Currencies Direct Limited of 1 Canada Square, Canary Wharf, London, United Kingdom, E14 5AA (registered in England and Wales with company registration number 03041197).
Currencies Direct Limited is authorised by the Financial Conduct Authority (“FCA”) as an electronic money institution under the registration number 900669. You can find the authorisation on the FCA register.
It is important to understand that currencies exchanges, orders and hedging operations are considered electronic money transactions, and that the electronic money is issued by Currencies Direct Limited.
There are 4 types of currency transactions supported by Currencies Direct Limited.
- Electronic Money Services: you enter into an electronic money transaction with Currencies Direct Limited. The electronic money is a claim against Currencies Direct Limited as defined in Currencies Direct Limited’s terms and conditions.
- Foreign Exchange Services: you may enter into transactions for the sale, purchase and delivery of currency with Currencies Direct Limited. FX Contracts include spot contracts and forward contracts (including both fixed forward contracts and open forward contracts).
- Payment Services: you may use Currencies Direct Limited to transfer Electronic Money or money to an account in your name or a third party.
- Collection Account Service: You use an account with Currencies Direct Limited to receive money into specific Electronic Money Accounts.
Foreign Exchange transactions can be spot or forward contracts.
A spot contract is executed at the current spot rate and confirmed by Currencies Direct Limited in the Deal Confirmation. There are different types of spot contracts, and you are advised to contact Studio 61 Wealth Management Ltd or Currencies Direct Limited for advice on specific deals.
A forward order is a Foreign Exchange transaction that will take place at a date up 2 years in the future. Forward orders are subject to deposit requirements and potentially to margin requirements at any point before the forward order is executed. You are advised to contact Studio 61 Wealth Management Ltd or Currencies Direct Limited for advice on specific deals.
If you want advice on your currency transaction, please use get in touch using the Contact Us page. Studio 61 Wealth Management Ltd or Currencies Direct Ltd will get back in touch to discuss your requirements.
Currencies Direct contact details are as follows.
UK Head Office
+44 (0) 20 7847 9400
london@currenciesdirect.com
One Canada Square
Canary Wharf,
London. E14 5AA.