Why should I use Omnis FX as opposed to my bank?
Firstly, we offer better rates than high street banks. We deal directly in the money markets and can therefore offer a higher level of service and expertise than the general banking staff.
I don’t know a lot about exchange rates. Will I understand how it works?
Each client has a designated account manager. Their role is to explain everything to you, and walk you through the process, answering any questions you have.
How do I open an account?
An account can be opened once a completed account opening form is received. This can be done either online or by contacting a member of our private client team on 0800 334 5591.
How does the service work?
- Open an account with Omnis FX either online or by calling one of the team on 0800 334 5591.
- A personal account manager will discuss your needs and advise you on the best course of action.
- Once this is agreed you can book you trade verbally or via email.
- You will receive confirmation of the trade immediately, and will then need to provide details of the person and account receiving the foreign currency.
- You must transfer the funds to you client account at Omnis FX by the agreed date.
- Assuming the funds are cleared, Omnis FX will send the foreign currency to the specified account.
I’m a busy person. How long does all this take?
Applying to open an account takes a few minutes and can be done online. Once this is done, trades can be booked instantly over the phone or via email.
How long do transfers take?
Transfers to Western Europe and the US can usually be done on the same day. Transfers to other destinations may take 2 to 3 days. Transfer timeframes will be discussed before booking the trade.
What are the costs involved?
Opening an account is free of charge. Omnis FX does not charge a commission.
Where does my money go? Will it be safe?
Your funds will be held in a non-interest bearing segregated client account with RBS. From there, it is transferred to your designated account. Omnis FX has appointed representative status through Independent Portfolio Managers Limited, which is regulated by the FSA and by Customs and Excise.
