Your Money is Safe
ClearFX understands the importance of ensuring that your money is protected when you are sending money internationally. ClearFX provides a safe and regulated system for international transfers, making use of the latest technology and electronic security methods.
Company regulation
ClearFX is a trading name of OzForex, an Australian company with 10 years experience in the foreign exchange markets and over 100,000 customers globally. OzForex is a strategic investment of Macquarie Bank, Accel Partners and the Carlyle Group.
OzForex has an Australian Financial Services Licence (AFSL No. 226484) issued by the Australian Securities and Investments Commission (ASIC). It is a requirement of this licence that OzForex maintains prescribed surplus liquid fund balances at all times.
OzForex is also regulated by AUSTRAC as a designated remittance provider under the Anti-Money Laundering Act 2006.
Canada
In Canada, CanadianForex, as a wholly owned subsidiary of OzForex, employs the same standards and procedures as its parent company to ensure the highest standards of service and integrity for its customers.
In Canada CanadianForex is regulated by FINTRAC (Reporting Entity Number 11503).
Hong Kong
Licensed as a Money Service Operator with the Customs and Excise Department Hong Kong license number 12-08-00582.
United Kingdom and other locations
In the United Kingdom under the Money Laundering Regulations 2007, commercial foreign exchange companies are treated as "Money Service Businesses" which are covered by regulations administered by HM Revenue & Customs. Activities falling within the scope of the Money Service Business include the operations of bureau de change, transmission of money by any means and the cashing of third party cheques.
UKForex Limited, a wholly owned subsidiary of OzForex, holds a certificate of registration for Money Laundering Regulation (MLR). Registration number: 12219180.
UKForex is authorised and regulated in the United Kingdom by the Financial Services Authority (FRN: 521566) for the provision of payment services.
Safety net
ClearFX does not pay out transfers until we have received cleared funds from the customer, which means that the company does not hold any settlement risk on transfers. This means that your money transfer will reach the recipient on time, every time.
This level of external regulation and oversight, combined with OzForex's own commitment to prudential risk management and the highest levels of customer service, ensure that the ClearFX service provides a high level of security and peace of mind for its clients.
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