F&Qs

How do I open an account?

Just get in touch with us via any of the 4 following methods and we will get back to you shortly:

1. Call our dealing desk on 0207 426 5833

2. Send an email to info@eigerfx.co.uk

3. Send us an instant message via the chat option at the bottom right of your screen.

4. Fill out our enquiry form.

The account opening process is smooth and quick. Once we have completed our compliance checks, we will send you a confirmation email informing you that your account has been activated. Once your account is open, you will be able to get quotes from your personal dealer and book your currency transactions through them.

Why is there a need to open an account?

As a regulated financial company the FCA require us, by law, to ‘Know Our Client’. This is primarily to ensure that strict anti-money laundering procedures are adhered to. What’s more, it gives our clients the peace of mind that they are using a business they can trust, with the highest standards of compliance and integrity. 

What do you do with my personal data?

Your details are kept in a secure database, logged against your unique client number. It is important that you are aware that your details have to be checked when you initially register with us to ensure that you or your business are who you say you are. However, at no point will Eiger FX ever pass on or sell your data to any third parties for the purpose of commercial benefit. 

Do you apply any payment charges to transactions and are there any minimum transfer amounts ?

Unless otherwise expressly stated by your dealer before you enter into a transaction we do not apply any payment charges. If you are making payments to multiple beneficiaries from one transaction or if the volume of the transaction is under £10,000 then we may apply a payment charge of no more than £10 – but this will be expressly stated by us before any transaction is entered in to.

For all forward contracts – the first five drawdowns incur no payment charge and thereafter a £7 payment charge applies.

Our minimum transfer amount it £3,000 or sterling equivalent.

 

 

How do I make an international payment?

You can either ring or email your dealer and they will provide you with a quote. If you are happy to proceed we will then book your transaction in our system and send out a deal confirmation via email for you to review. The next step is simply to make the required payment to our segregated client account – the details of which will be on the emailed deal confirmation. 

How do you calculate my quote?

Unlike other FX brokers, we get our pricing direct from our partner banks and liquidity providers. We pass this extremely competitive pricing onto our clients. What’s more we do not charge a single penny in commission fees.

How can we do this and not other brokers? Our reputation in the finance industry and the relationships we have built up over many years, puts us in a unique position to bring the prices that banks and large financial institutions give to one another, to SMEs and individuals.

How safe is Eiger FX?

We believe Eiger FX is the safest Foreign Exchange company in the market, for three reasons:

1. Regulation – unlike many other FX brokers we are a fully Authorised Payments Institution. This means that our processes and procedures are extensively regulated by the UK Financial Conduct Authority and HMRC.

2. Company Structure – Eiger FX has zero debt or borrowings and is 100% owned by Management. Consequently, we do not have any outside investors or liabilities to satisfy with immediate, short-term profits. This allows us to grow sustainably, without the need to cut corners or overcharge our customers.

3. Reputation – Eiger FX, as part of the Eiger Group, has been operating successfully in the UK financial markets for over 12 years, disrupting norms and generating value for its customers. Maintaining our reputation is of the utmost importance to us. The foreign exchange industry is notorious for its deceptive marketing and pushy sales techniques. That is the opposite of what we are about.

How long does it take to process my payment?

Eiger FX operates the fastest payment method available for all of its payments. These are called SWIFT payments. This means that currencies are paid out as soon as they are available in the market, which is often the same day. Most FX brokers do not utilise this payment system because it costs more, preferring instead to pay their client’s funds via slower channels which can often take between 3-7 working days. 

What is a currency forward?

A currency forward is a way of securing a rate on an amount of money you wish to send, for a specific date in future. This allows you to know exactly how much money you will receive further down the line, minimising your risk to volatile exchange rates and helping you to budget effectively. 

Supported currencies

We support a vast range of currencies as shown on the currency map on our homepage. However, if you don’t see the currency that you require, please do get in touch with us as we are often still able to help. 

I want to receive money from overseas. Can you help?

Of course. We can receive money from overseas on your behalf and then send it straight onto your chosen bank account without charging a single penny in hidden fees and with a much more competitive rate of exchange. What’s more, we can often do this much quicker than any other broker or bank can. 

How is Eiger FX different to other currency providers?

At Eiger FX, we are against confusing marketing strategies, gimmicky branding or pressurising sales techniques. We simply want to provide excellent customer service and sharp pricing.

It is this goal, along with maintaining our unblemished reputation through best business practice, that guides all that we do.

Why do you not do peer-to-peer transactions?

‘Peer to peer’ transfers are a fallacy and marketing ploy. Don’t fall for it. Any FX company that claims to ‘match’ its client transactions would need a colossal amount of these transactions, all over the world, happening 24/7. Only the world’s biggest global banks are able to do this. That is precisely why they are there and serve a useful purpose in this respect.

Do you want to, at best, wait around for hours or days to be ‘matched’, while the FX market moves up and down? Or at worst, do you want to subscribe to a marketing ploy, all the while your funds are not being ‘matched’ but are being processed through a bank anyhow? This is why Eiger FX does not market ‘peer to peer’. It doesn’t make sense and we tell our clients this. That’s real transparency.

I’m still not sure? How do I find out more?

Feel free at any time to send us an email or give us a call. We would be delighted to talk to you. 

Give us a call

One of our currency specialists would be delighted to talk to you on

+44 (0) 207 426 1495

Eiger FX is a trading name of Eiger Foreign Exchange Limited which is authorised by the Financial Conduct Authority under the Payment Service Regulations 2009 for the provision of payment services. Our registration number is 533391. Eiger Foreign Exchange Limited is regulated by HM Revenue and Customs under the Money Laundering Regulations 2007. Our registration number is 12621485. Eiger Foreign Exchange Limited is a private limited company registered in England & Wales number 07386073. Our registered office is 22 Calvin Street, London, E1 6HF