Forex International are an affiliate of Argentex Private, 124 Sloane Street, London, SW1X 9BW.
Frequently Asked Questions
HOW DO I OPEN AN ACCOUNT?
The easiest way to contact one of our client managers on 020 333 22221 who will assist you in registering with Argentex. You will need to complete an application and upload a copy of your passport and your address id. You will then be contacted personally by your dedicated dealer to confirm your account is open.
HOW LONG WILL IT TAKE TO OPEN AN ACCOUNT?
Completing the application form takes less than 5 minutes. When we receive your information we will begin to process your application immediately and you will hear from us within an hour. Occasionally we may require additional identification documents but most of our clients will be up and running straight away.
WHAT ARE THE CHARGES?
Forex International and Argentex do not levy any fees, commissions or transfer charges.
I LIVE OVERSEAS, CAN I STILL USE YOUR SERVICES?
Yes. Depending on your country of residence we may require additional documentation such as proof of address and additional proof of identity. Please contact us on 020 333 22221 to find out exactly what documentation will be required.
HOW DOES ARGENTEX PRIVATE MAKE MONEY?
Argentex Private is part of Argentex LLP which handles foreign exchange transactions for corporates and financial institutions across Europe. Their revenue is made solely from the difference between the rate they buy at and the rate they pass on to our clients. Together these businesses transact billions of pounds and so they command institutional levels of pricing from multiple counterparties which are not available to individuals and corporates. This means they pass on tighter pricing to our clients. They do not have the overheads or loss-making activities of a bank to subsidise, and by leveraging the expertise, systems and buying power of Argentex LLP they are able to significantly undercut both the banks and other less well capitalised providers.
HOW MUCH WILL I SAVE?
Your actual saving will depend on many factors such as volume, currency, your bank and even the time of the day. High street banks can typically charge anything up to 5% on each transaction whilst private banks and premier accounts may charge less. Regardless of size, currency and bank we can provide a free quote and will be able to compare this to your bank rate to tell you your exact saving before you go ahead and make the transaction.
CAN I BOOK TRANSACTIONS ONLINE?
All your transactions are booked through your dedicated personal dealer. Argentex are happy to receive instructions to buy currency via email, although normally transactions are booked over the telephone so that we can ensure that you receive the best possible rate at any given time.
WHAT ARE THE MINIMUM AND MAXIMUM AMOUNTS I CAN TRADE?
We understand that international payments can come in all sizes both large and small so therefore there is no maximum or minimum at Argentex Private. We are here to save you money so in rare cases we may suggest alternative methods of transfer that are more cost effective, for example if you are transferring very small amounts. There is no maximum amount you can trade.
WHAT IF THE RATE MOVES AFTER I BOOK A TRANSACTION?
When Argentex Private agree a rate of exchange on a transaction you are contracted at that price. They immediately buy the currency on your behalf so if the rate changes between booking the rate and paying them it will not impact your transaction at all.
HOW LONG DOES A PAYMENT TAKE TO ARRIVE?
Argentex Private will deliver your currency in the quickest available timeframe. In most cases this is the same working day, although sometimes due to time zones and working hours this may be the next working day. You will be informed before you book the deal if settlement will not be same day.
IS IT SECURE?
YES! Being part of Argentex LLP gives you the added security that you are working with a debt free, profitable and cash rich company, and that you are protected by the same systems and controls as those applied to the transactions for the corporate and institutional clients who entrust billions of pounds to us.
Further, Argentex Private and Argentex LLP are part of the Pacific Investments Group, which has founded businesses that currently manage and advise on client funds in excess of $20bn.
Argentex Private are authorised and regulated by the Financial Conduct Authority for the provision of payment services, and regulated by Her Majesty’s Revenue and Customs.
All funds to be used as settlement for an underlying foreign exchange trade are held at all times in a designated client trust account and are never mixed with business funds.
Both Argentex LLP and Argentex Private operate as a matched principal broker. This means that they only ever enter the market when our clients trade, and they don’t aggregate positions or run a speculative book. Furthermore, they do not speculate with their own funds or allow any of our clients to speculate.
WHAT BENEFICIARY ACCOUNT DETAILS DO I NEED?
This depends on country and currency. The most common are listed below, but should your currency not appear on the list please contact your dedicated personal dealer.
UK – Account Number & Sort Code or IBAN & SWIFT
Europe – IBAN & SWIFT
USA – ABA Routing Number or SWIFT
Canada – Transit Code & SWIFT
Australia – BSB Code or SWIFT
New Zealand – Bank Code & SWIFT
South Africa – Account Number & SWIFT
UAE – Account Number & SWIFT
India – IFSC Number & SWIFT
CAN I GET A STATEMENT OF MY TRADES?
Yes, you can log in to your secure client area to view all historical trades. You can also manage beneficiaries and edit your contact information. Alternatively simply ask your dedicated personal dealer and they will be able to provide you with any details you may require. You may also opt to receive regular statements of your account.
If you have any further questions, please contact us on 020 333 22221 and speak with one of our client managers who will be happy to discuss your requirements.
Alternatively, you can use the CONTACT US link at the top of this page.