🎯Information for New Customers
Click on each topic to learn more
Welcome to RedFX! Below are the most common questions our newly registered customers have. Click on any question to expand and see the full answer.
1
Adding RedFX Bank Details to Your Banking Application
One of the most frequent concerns is receiving our bank details in time to complete your transfer. Here's what you need to know:
You can set the execution date of your trade for a few days later while keeping the same exchange rate you would have for today. This means you can book a trade for execution in 3 days and immediately receive the bank details to send the money to, giving you time to process everything with your bank.
You can set the execution date of your trade for a few days later while keeping the same exchange rate you would have for today. This means you can book a trade for execution in 3 days and immediately receive the bank details to send the money to, giving you time to process everything with your bank.
💡 Pro Tip
Book your trade in advance with a future execution date. You'll lock in today's rate and receive the bank details instantly, allowing you to work at your own pace with your bank.
2
Adding Beneficiary Details in the Interface
For security reasons, we cannot add beneficiary bank accounts on your behalf. Only you, by logging onto the platform, can add a bank account to send the converted money to.
1
Go to the "Beneficiaries" / "Recipients" tab
2
Click on "Add New"
3
Enter the banking details carefully
4
Verify and save the information
🔒 Security First
This security measure ensures that only you control where your money goes. Double-check all details before saving to avoid delays in your transfers.
3
Executing a Trade
Our interface is designed to make it as simple as possible for you to execute trades yourself. While we're always available and happy to help, you may also want to become familiar with the interface.
1
Navigate to the "Convert Currency" tab
2
Enter the two currencies involved (e.g., GBP to EUR)
3
Check the direction is correct (which currency you're sending vs. receiving)
4
Set the fixed amount you know (either the amount to send or receive)
5
The system will automatically apply the best exchange rate possible
6
Double-check all your entries are correct
7
Press "Confirm" to execute the trade
⚡ Quick Tip
The platform is intuitive and user-friendly. Take a moment to explore it, and you'll be executing trades confidently in no time!
⚠️ Important Safety Note
Immediately after booking a transaction, you will receive a "Trade Confirmation" email. Please make sure to send the funds to the account stated in this email, with the payment reference.
4
Holding Funds with RedFX
You can hold funds using the e-wallets we offer, in all major currencies. You can transfer and convert your funds between these various e-wallets, and also send them to whomever you wish.
Your funds, your accounts, your moves!
Your funds, your accounts, your moves!
📈 Pro Tip
If you have a target rate in mind, RedFX will look after your funds until it is reached. Already having the funds in an e-wallet makes the transaction smoother.
5
Prepare for your Transaction
Before booking a trade, to make sure everything will run correctly, there are a few things you can double check:
1
With your bank:
Verify that they allow you to send this much money at once. Double check with them that they won't charge you unexplained fees for transferring your money.
Verify that they allow you to send this much money at once. Double check with them that they won't charge you unexplained fees for transferring your money.
2
Documents:
For major transactions, our compliance team will need a proof of funds. Make sure you have the appropriate document accessible in case you get asked for it.
For major transactions, our compliance team will need a proof of funds. Make sure you have the appropriate document accessible in case you get asked for it.
🔒 Security First
This security measure ensures that only you control where your money goes. Double-check all details before saving to avoid delays in your transfers.
Need More Help?
Our team is always here to assist you. Don't hesitate to reach out if you have any questions or need guidance through any of these processes.