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About us 

What industries do Global Reach Partners work with?

Diverse client database ranging from import/export to funds and institution, catering from listed companies all the way to the SME market. 

Can you beat my banks rate?

Yes, GRP purchase billions of pounds worth of currency over the year. We don’t carry the same overheads as the large financial institutions, therefore we can pass the savings on to our client.

Where are you based?

Our head office is based in London. Our sister company FC Exchange who looks after our private side of the business also has offices in Cornwall South Africa and Cyprus. 

How many currencies do you deal with?

We are able to offer a wide range of over 130 currencies.

 

Security

How can I be sure you’re trustworthy if you’re not based in my country?

Global Reach Partners is an Authorised Payment Institution, with the United Kingdom Financial Conduct Authority. This means that the London office has to observe the requirements set out in the Payment Services Directive.

Global Reach Markets are authorised and regulated by the United Kingdom Financial Conduct Authority to provide FX Option Products.

Are you FCA regulated?

Global Reach Partners is authorised by the Financial Conduct Authority for the provision of payment services and a registered Money Services Business (MSB) which is registered by Her Majesty’s Revenue and Customs, making us subject to UK money laundering regulations.

Global Reach Markets are authorised and regulated by the United Kingdom Financial Conduct Authority to provide FX Option Products.

How will I know my funds are safe?

We take your trust seriously, and how we segregate or safeguard your money depends on the service that we provide you. Please speak to your Account Manager for more information.

Are your international bank accounts overseas?

Our bank accounts are held with long established UK Banks.

 

Payments

What is a beneficiary?

A beneficiary is the named person/company of the account you are sending funds to.

What is the cut off time for same day payments?

This will depend on the currency you are trading. Please contact the Client Services Team to find out which currencies can be paid on the same day. 

Can you make same day payments?

Yes, we can make same day payments for the following currencies: GBP, USD, EUR and CAD.

How do I send funds to more than one beneficiary?

When booking your trade with your dealer or online you can specify how many payments you need to make.

How do I send money to you?

When you book your trade you will be sent a trade confirmation which will provide the banking details you should send your funds to.

How long will the payment take to credit my beneficiary?

This will depend on the currency you are sending: EUR, USD, CAD and GBP will arrive the same day, other currencies can take one or two days to arrive.  You will be sent a payment confirmation which will show the date the funds should arrive in the account.

How do I set up my onward payment instruction?

If you book your trading on our online platform you can set up your instructions at the same time, or log on at any time to submit your instruction.  If you book your trade with your dealer you will be sent a link with your trade confirmation which you can use to submit your instruction.

How do I keep track of the funds throughout the process?

On the online platform, you can see when your funds have arrived and when your payments have been sent, you can also see a history of all your payments and trades. 

How do I tell you when I want my money to go?

When you are ready for your payment to be sent, you can submit your instruction to us and we will make the payment.

How do funds appear in the beneficiaries account?

The funds will appear from Global Reach Partners, by order of yourself together with any reference you have stipulated on the payment.

Can I send funds from another account such as a third party or family member?

Yes, you can send funds from another account, but we must receive the relevant third party documentation before the funds can be applied to your account. Please contact the client services team for more information. 

When do I need to send my money to you for my onward payment to be processed?

Your funds should be sent to us by the value date for your onward payment to be processed, your payment will not be made until the trade has been paid for in full.

Does the method I choose for sending you funds to you affect my trade?

If you send your funds to us by Bacs or SEPA and they do not arrive by the value date this will delay your outgoing payment. 

If you are sending funds to us from a third party, please ensure that you have provided the relevant documentation so that the funds can be applied to your account, or again this will delay your outgoing payment.

What happens if my funds don’t arrive?

If your funds have not arrived within 48 hours please contact our client service team who will request a trace on the payment.

What details so I need to be able to send funds?

You will need the full beneficiary name, the full account number, bank name, bank code and Swift code.  For certain currencies there are additional details needed which we will advise you of.

 

Trades

Can I hold a rate?

Yes, spot trades can be fixed for five working days and forward contracts can be booked for up to two years. 

How do I find my trade reference number?

This will be found on your trade acknowledgement emailed to you once you have booked a trade. If you are unable to find this, please contact the client services team who will be able to assist you.

Can you help me with the timing of my FX purchases?

Your dealer can assist you with the timing of your purchase. They can help you understand recent and anticipated market fluctuation.  

Can I take delivery of my contract early?

Yes, you can. Please contact your dealer for more information. 

Who do I speak to when my dealer is away?

Anyone in the dealing team can assist you in your dealer’s absence. We also have a client services team to help you with any queries you may have. 

Do you do same currency transfers?

Yes, this is possible, please speak to your dealer for more information. 

How do I book a trade?

Trades can be booked over the phone or via email with your dealer. You can also use our online platform, GRP Online to book trades yourself. 

What is a value date?

The delivery date of the funds purchased. You will discuss when you would like to set your value date for with your dealer at the time of the trade.  

What does Spot mean?

A Spot trade is the most common foreign exchange transaction. A transaction that occurs immediately with the transfer of funds to settle the contract usually taking place within two business days after the deal has been agreed. It is used when clients need to buy and sell currency and transfer it within the shortest period possible.

What does Forward mean?

A contract where the exchange of currencies is to be made more than two business days ahead at a fixed exchange rate. A popular hedging tool, it allows companies and individuals to fix a rate of exchange for settlement in the future.

How do I protect myself from currency movement?

There are a variety of ways that you can protect yourself against adverse market movement. Please contact your dealer to gain a better understanding of market risk and how to protect against it. 

Can I cancel a trade after I have booked it?

When you book a trade you are entering into a legally binding contract. We purchase the currency on your behalf, if you wanted to cancel the trade we will need to sell the money back to the market which may incur a cost which you will be liable for. 

How much can I transact with you?

We do not have an upper limit.

 

Online

How do I access your online system?

When you opened an account with us you would have received an email with your log in details. You can access GRP online on the home page of our website, in the top right hand corner where it says log in or click here: https://portal.globalreach-partners.com/

Am I able to make payments to beneficiaries via the online platform?

Yes, you can. Please click here to view our user guide for support or call our client services team who will be able to help talk you through it. 

Can I trade online on a weekend?

GRP Online is available for you to make payments over the weekend and trades if you have access to the Trade Centre. 

Can I drawdown on existing trades online?

GRP Online is available for you to draw down on existing trades if you have access to the Trade Centre. 

What do I do if I forget my password for GRP online/FC Exchange online?

Click on “forgotten your password” on the main login page and answer the security question. If you have forgotten your security question and answer please call our client services team who will be able to help you. 

How do I view my balance on GRP online/FC Exchange online?

Balances are displayed on the main dashboard page for all customer.

What do I do if I’ve made a mistake on a trade?

Please contact your dealer immediately. 

 

Account

What credit line can you provide?

Our Risk department can look at providing an extended credit facility by decreasing a deposit value between 0-5% and widen the VM bands based on a credit risk assessments of a client’s financial worthiness.

How long does it take to open an account?

Once we have received all the relevant information from you and you have completed our trade agreement we aim to have your account open within 24 hours. 

What information do you need to open an account?

In order to open an account, we will require certain information to meet the Money Laundering regulations. Our sales team will be able to advise on what will be required. 

How do I get a statement?

You can download your statement on GRP online or alternatively contact the client services team who will be happy to help you. 

What is variation margin?

Variation margin is in effect an additional deposit required to cover the risk of an adverse move in the market.

When can variation margin be returned?

Variation margin can be returned on request once the market has moved back to the original client rate or once the position is 0.5% before the previous band breached. If available, margin funds can be used as part payment towards drawdowns or against final settlement of the trade.

Why do you ask for a deposit?

We ask for deposit to cover any risk in the case of an adverse move in the market or default of settlement.  

How is variation margin calculated?

Margin is calculated using the mark-to-market position and calculated as a percentage of the client’s overall booked exposure.

What is my credit facility?

Our standard credit facility is 5% deposit payable with VM terms of 2.5% of a client’s overall exposure payable if the market moves 2.5% offside and 1.5% margin payable for each 1.5% market move thereafter. If an extended facility is granted, the client will receive an email titled ‘Credit Application - Update to Terms and Conditions’ detailing the updated facility.

What do I do if I am unhappy with your service?

Learn about the currencies you need to exchange.

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