Website Use Terms
Using our site and our services
1. Introduction and what these terms cover
1.1 CompareFX is a trading name of CompareFX Limited, a company registered in England and Wales under company number 16716488 whose registered office is at 20 Wenlock Road, London, England, N1 7GU ("CompareFX," "we," "us," "our").
1.2 These are the terms on which we provide the services described in clause 2, whether to you personally or to a business you represent or are affiliated with ("you", "your").
1.3 They cover what you may and may not do when using our site (www.comparefx.co.uk), as well as what services we offer and what we charge.
1.4 These terms are between you and us (see clause 1.1 above). Third parties may provide services to you or to us for the purpose of enabling you to use our site or our services; for example, we may engage a third party to design and host our site. However, this does not make such parties a party to these terms, and only we have the right to enforce these terms against you.
1.5 When we mention "including" or "such as" followed by specific examples, this is for illustration and does not limit the general words used.
2. Our services – FX and other financial arrangements
2.1 The services which we offer and which are covered by these terms involve the following:
2.1.1 we collect and analyse information which you provide to us about your FX transactions or other financial arrangements;
2.1.2 we use this information to produce a report (an "analysis report") which tells you what savings (if any) you could achieve by changing the providers of such financial arrangements;
2.1.3 if our analysis report identifies potential savings, we may offer to introduce you to an alternative provider of financial arrangements.
2.2 It is up to you to decide whether you want us to introduce you to a particular provider, and it is up to you whether to contract with a third-party provider which we have introduced to you. However, if you do decide to contract with a third-party provider which we have introduced to you, then you will pay us charges as described in clause 8 (charges for our services).
2.3 We are not authorised by the Financial Conduct Authority and you should note the following disclaimers:
2.3.1 we do not provide any advice to you in relation to the financial arrangements which are the subject of our services;
2.3.2 we simply facilitate introductions to providers and provide you with an assessment of the prospective costs you may expect to incur, based on information obtained from you and from the relevant third-party provider. It is up to you to decide whether to take advantage of any such introduction;
2.3.3 we do not handle any FX transactions on your behalf and do not provide you with any financial services;
2.3.4 we do not seek to steer, procure or encourage you to enter into any transaction with any third-party provider we introduce to you;
2.3.5 if you do decide to contract with a particular third-party provider, all FX transactions are between you and that third-party provider. We have no control over these transactions or any other services which such third-party provider makes available to you, and accept no responsibility for them.
3. Using our site
3.1 You may use our site only for lawful purposes. You may not use our site:
3.1.1 in any way that breaches any applicable local, national or international law or regulation;
3.1.2 in any way that is unlawful or fraudulent or has any unlawful or fraudulent purpose or effect;
3.1.3 to bully, insult, intimidate or humiliate any person;
3.1.4 to send, knowingly receive, upload, download, use or re-use any material which does not comply with these terms; or
3.1.5 to transmit, or procure the sending of, any unsolicited or unauthorised advertising or promotional material or any other form of similar solicitation (spam).
3.2 You also agree:
3.2.1 not to access without authority, interfere with, damage or disrupt any part of our site, any equipment or network on which our site is stored, any software used in the provision of our site or any equipment or network or software owned or used by any third party;
3.2.2 not to attack or try to attack our site via a denial-of-service attack or a distributed denial-of-service attack; and
3.2.3 not to introduce or attempt to introduce any viruses, trojans, worms, logic bombs, time bombs, keystroke loggers, spyware, adware or other harmful programs or similar computer code designed to adversely affect the operation of any computer software or hardware.
3.3 We may suspend or withdraw access to our site and our services if you breach any of the provisions set out at clauses 3.1 or 3.2 above.
4. We may make changes to our site and our services
4.1 We may update and change our site from time to time, for example, to reflect changes to our services, our users' needs or our business priorities.
4.2 We will try to give you reasonable notice of any major changes, but this is not always possible.
5. Intellectual property rights
5.1 Except where we tell you otherwise, we own or license from third parties all intellectual property rights in the material available on our site and in any material we provide to you, including the analysis reports we produce.
5.2 You are permitted to use material from our site, and from analysis reports which we provide to you, only in accordance with these terms.
5.3 In particular, unless we agree otherwise, you may use the contents of our site or an analysis report only for your own purposes and must not:
5.3.1 copy, reproduce, modify, or create derivative works from the material;
5.3.2 sell or otherwise commercialise the material;
5.3.3 use the material in any way that is likely to cause confusion among third parties or is likely to dilute or tarnish our reputation and goodwill;
5.3.4 use the material in a way which breaches any applicable law.
6. Basis of the agreement
6.1 By requesting us to provide any of our services, you agree to be bound by these terms and you confirm that all information you provide is accurate and complete.
6.2 Your agreement with us only relates to our services and does not cover any services or other arrangements which you may enter into with a third-party provider which we introduce to you.
6.3 We endeavour to provide access to our site and services at all times. However, we do not guarantee that our site, or any content on it, will always be available or uninterrupted, nor do we guarantee that it will be secure or free from bugs or viruses. You should use your own virus protection software and take your own precautions in this respect.
6.4 We may suspend or withdraw or restrict the availability of all or any part of our site for business and operational reasons.
6.5 You are responsible for ensuring that all persons who access our site through your internet connection are aware of these terms and comply with them.
Charges
7. How we establish your baseline transaction costs
7.1 During the 'onboarding' process we carry out to introduce you to our services, we will establish your 'baseline transaction costs', which is what you would pay or have paid in relation to your FX transactions if you had stayed with your existing provider or, if you are looking to put in place new arrangements, had gone with the third-party provider you were considering engaging prior to approaching us.
7.2 We establish your baseline transaction costs by calculating the "effective margin" charged to you on your FX transactions, by comparing the rates offered to you by your existing provider of FX transactions (or prospective third-party provider), against the mid-market rate. This involves a comparison between:
7.2.1 the rates which your existing provider (or a prospective provider) has or would offer you in respect of the relevant FX transactions; and
7.2.2 the mid-market exchange rate(s) applicable at the time the relevant FX transactions were (or would be) undertaken.
7.3 To calculate the effective margin we apply the following methodologies:
7.3.1 in the case of prior FX transactions with a third-party provider (including an existing bank), we will ask that third-party provider to provide us with detailed information about the rates applied to your FX transactions over a prior period, and compare these against the corresponding mid-market exchange rates applicable at the time the relevant transactions were completed;
7.3.2 where you paid different rates for different FX transactions involving the same currency pair during the relevant prior period, we will calculate a weighted average of the different effective margins that applied during that prior period;
7.3.3 where a third-party provider has applied ancillary charges related to prior FX transactions, we will include such charges in the baseline transaction costs in the form of monthly charges, calculated as 1/12th of the annual equivalent of the relevant ancillary charges;
7.3.4 where you provide us with a third-party provider's offer of pricing for a particular FX transaction (or particular transactions), we will use those rates to determine the effective margin;
7.3.5 if you are not currently subject to a commitment period in respect of your existing FX arrangements and you are looking to put in place new arrangements for a period after your current commitment period:
7.3.6 we will use the rates (and any ancillary transaction-related charges) offered to you by your current third-party provider that will take effect after the commitment period to determine the effective margin (applying the same methodology set out above).
Worked example 1 – illustrating the treatment of rates and ancillary charges when calculating baseline transaction costs
7.4 If in the twelve-month period prior to your request for our services you undertook FX transactions involving the exchange of £100,000 GBP-USD and were being charged a consistent 1% margin as against the mid-market rate, as well as paying £120 per year as a management charge, the baseline transaction costs would be 1% of FX transaction value plus £10 per month.
Worked example 2 – illustrating the weighted average approach when calculating baseline transaction costs
7.5 If in the twelve-month period prior to your request for our services you undertook FX transactions involving the exchange of £100,000 GBP-USD, of which £80,000 was charged at a 1% margin as against the mid-market rate, while £20,000 was charged at a 0.8% margin as against the mid-market rate, the baseline transaction costs would be calculated using a 'weighted average' approach as follows:
(80,000 x 1% + 20,000 x 0.8%) / 100,000 = 0.96%
8. Charges for our services
8.1 The charges which you pay for our services are payable with effect from the date of your first FX transaction with the relevant third-party provider, and will continue for the duration of your arrangements in respect of FX transactions with that third-party provider.
8.2 The charges are calculated at the end of each calendar month as a percentage (specified in the analysis report) of the savings you achieved on FX transactions in that calendar month by using a third-party provider introduced to you by us, relative to the costs you would have incurred if you had undertaken the same FX transactions at your baseline transaction cost (as established during onboarding and set out in the analysis report).
Worked example 3 – illustrating calculation of the charges for our services
8.3 If in a calendar month you undertake FX transactions to the value of £100,000 GBP-USD and pay a margin of 0.8% to a third-party provider which we introduced to you, and if your baseline transaction costs would have been 1%, our charges in respect of that month will be:
(100,000 x 1% - 100,000 x 0.8%) x 25% = 200 x 25% = £50
8.4 We will obtain information about your FX transactions from the relevant third-party provider, and will notify you following the end of each calendar month of the value of the charges due to us in respect of that calendar month, and set out the method by which we have calculated those charges. We will submit our invoice in respect of our charges at the same time, and this will be payable on receipt.
8.5 If we are unable to collect any payment you owe us we may charge interest on the overdue amount at the rate of 4% a year above the Bank of England base rate from time to time. This interest accrues on a daily basis from the due date until the date of actual payment of the overdue amount, whether before or after judgment. You pay us the interest together with any overdue amount.
9. Our responsibility for loss or damage suffered by you
9.1 We do not exclude or limit in any way our liability to you where it would be unlawful to do so. This includes liability for death or personal injury caused by our negligence or the negligence of our employees, agents or subcontractors and for fraud or fraudulent misrepresentation.
9.2 Where you are using our services outside the course of your business (that is, as a consumer): you agree we have no liability to you for any losses which are not relevant to domestic and private use of the site or our services, including loss of profit, loss of business, business interruption, or loss of business opportunity.
9.3 Where you are using our services in the course of your business: then except in respect of the losses described in clause 9.1 above:
9.3.1 we shall not be liable to you, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, for any loss of profit, or any indirect or consequential loss arising under or in connection with any contract between us; and
9.3.2 our total liability to you for all other losses arising under or in connection with any contract between us, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, shall be limited in respect of events giving rise to liability occurring in each contract year (being the period from the date on which you first request us to provide the services, and each subsequent period of 12 months commencing on an anniversary of that date) to the total charges paid or payable by you to us in the same contract year.
9.4 Our services may include coordinating introductions to third-party providers at your request. We are not responsible for the services provided by third-party providers, nor do we have control over their activities, and you remain responsible for the decisions you make on the basis of our analysis report.
9.5 If the fulfilment of any part of our services is delayed by an event outside our control, such as natural disaster, epidemic or pandemic, war or terrorism, sanctions or other government measures, industrial action, or similar circumstances, we will contact you to let you know and do what we can to reduce the delay, but we will not be liable to you for such delay.
10. What to do if things go wrong
10.1 If you wish to report or complain about any aspect of our site or our services, please contact us at info@comparefx.co.uk.
10.2 You have legal rights as a consumer, such as the right to ask us to repeat or fix a service if it is not carried out with reasonable care and skill. However, these rights are subject to certain exceptions, and it is important to note that our charges under these terms only become payable if you achieve savings (relative to your baseline transaction costs) as a result of decisions you make based on our analysis report. For detailed information about your rights, please visit the Citizens Advice website www.citizensadvice.org.uk.
User accounts and personal data
11. Setting up a user account (where we provide user account functionality)
11.1 When setting up a user account, please complete all required fields on the online account set-up form and ensure that all information is correct.
11.2 By creating an account, you confirm that you are 18 years or older. Our services are not intended for minors under the age of 18.
12. Keeping your account safe
12.1 You must keep your login details and password secure and confidential. Please do not share this information with others. You are responsible for all use made of your account.
12.2 We have the right to disable any account, at any time, if in our reasonable opinion you have failed to comply with any of the provisions of these terms of use.
12.3 If you know or suspect that anyone other than you knows your account details, you should promptly notify us at info@comparefx.co.uk.
12.4 You are also responsible for ensuring that all persons who access our site through your internet connection are aware of these terms of use and other applicable terms and conditions, and that they comply with them.
13. Closing your account
13.1 You can close your account with us at any time by using your account settings. If you close your account after you have entered into an agreement with a third-party provider introduced by us to you, any charges due to us in respect of your FX transactions with such third-party shall remain payable.
13.2 We may close or suspend your account (and any related accounts to your account, as determined by us) and your access to our site, where we have reason to believe that you, your use of our site or our services, or any content you have uploaded to our site violate our terms. In the event your account is closed, you will no longer have any right to use our site.
13.3 These terms will remain in force even after your account has been closed or your use of the site has ended.
14. How we may use your personal information
We will only use your personal information in accordance with our Privacy Policy, which is available on our site.
The agreement
15. We may transfer our agreement with you to someone else
We may transfer our rights and obligations under these terms to another organisation. We will always tell you in writing if this happens and we will ensure that the transfer will not affect your rights under the agreement.
16. Which country's laws apply to any disputes
These terms of use, their subject matter and their formation, are governed by English law. You and we both agree that the courts of England and Wales will have exclusive jurisdiction.
These terms were most recently updated in 1 November 2025.