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Foremost Currency Group Review

Foremost Currency Group is a UK-based international money transfer and foreign exchange company. For 15 years, the provider has offered over 35,000 individual and corporate customers one of the fastest transfer services and cheap money transfers to more than 120 countries using over 40 currencies. In this review, we shall look at the provider’s exchange rates and fees, transfer payment and payout methods, how to send and receive funds among other things. 

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On average, Foremost Currency Group processes international payments to the tune of £7.5 billion per year both online and over the phone. Its team of more than 500 currency experts –  spread in over 20 offices – use specialist currency tools to give customers competitive quotes. 

Among the clients who use Foremost Currency Group’s services are those buying properties abroad, transferring money abroad, or making corporate transfers.

Foremost Currency Group exchange rates and fees

International money transfer companies typically earn their revenue from applying exchange rate margins and transaction fees. The fees may be variable, fixed or a hybrid of the two. Here’s a look at what Foremost Currency Group charges in fees and margins.

Exchange rates 

Foremost Currency Group purchases currency directly from the market at wholesale prices. This allows them to give clients better exchange rates than what high street banks offer. On its website, the provider displays live interbank exchange rates to reflect price movements for select currency pairs. 

When buying currency, you’ll need to contact your dedicated currency broker on +44(0)1442892060 for the best exchange rates. Here are some indicative margins based on average trading activities:

  • Purchasing Euros: 5000 Euros will cost you £4,587.61. Going by the current rate of 1 GBP = 1.10480 EUR, the margin charged is 1.35% 
  • Purchasing United States Dollars: 5000 United States dollars will cost you £4,116.48. At the live interbank rate of 1 GBP = 1.22715 USD, this translates to a margin of 1.02%
  • Purchasing Australian Dollars: 5000 Australian dollars will cost you £2,544.21. Based on the prevailing mid-market rates of 1 GBP = 1.98429 AUD;, this gives you a margin of 0.96%

It is clear from the three scenarios that the currency pair you are targeting determines the margin Foremost Currency Group will charge you.

To help you manage exchange rate movements and ensure accuracy of your transfers, the provider offers a range of transfer services, such as: 

  • Spot contract: This service is for customers making immediate transfers. The currency specialists will help you get the best exchange rates and ensure the transfer is processed swiftly and securely.
  • Forward contract: Foremost Currency Group allows clients to lock in an exchange rate for up to two years to hedge against negative market movements.
  • Limit order: If you want to target a higher rate than is currently available, you can place a limit order. If the market moves to that level, your transfer will be executed automatically.
  • Stop-loss order: This is a worst-case rate that will trigger your transfer if the market falls to that level. As you hold out for a better rate, this strategy ensures you don’t suffer unnecessary losses when the exchange rates take a dip.
  • Regular transfers: The Overseas Regular Payment Plan the provider offers, helps you to automate recurring payments and avoid common transfer errors by minimising human interaction.


Foremost Currency Group charges £10 for transfers under £50,000. However, any transfers above £50,000 are free of charge.

Additional costs

Upon request, Foremost Currency Group will send you Proof of Payment in the form of a banking receipt by post, email, or fax to confirm that your funds have been sent. This service will cost you £10. If you request for confirmation by SMS text, you’ll be charged £2.50.

Your beneficiary may also be charged some landing fees or processing charges by their bank. Even though the charges may be minimal, about £6.50, the recipient must clarify with the bank before you make the transfer.

Foremost Currency Group pros and cons

Foremost Currency Group is committed to helping its customers to buy currency and make international money transfers to their recipients overseas in a leaner, smarter and efficient way. Using specialist currency tools, their professional brokers take the hassle out of your transfer by getting you a better rate. To help you compare Foremost Currency Group’s services with alternatives, here is a look at the provider’s notable pros and cons.

Dedicated currency specialists: Immediately you sign up for an account, Foremost Currency Group will assign you a personal currency expert. They will provide you with professional support and insight when making your transfer.
Zero transfer fees and commission for large transfers: When you transfer funds above £50,000, you'll not pay any fees. Even for transfers below £50,000, the fee is only £10, making transfers way cheaper than most providers and banks.
Competitive exchange rates: The provider offers clients bank-beating rates at margins below 1.5% on average. When sending large sums to purchase property, pay salaries or move funds across accounts during emigration, this gives you great savings.
Global coverage: Foremost Currency Group supports transfers to more than 120 countries in over 40 currencies.
No limit transfers: Most customers use this provider to transfer funds for property purchases and renovations in places like Spain and France or to move their money abroad. Having no transfer limits is a huge advantage to these and similar clients.
Limited customer support time: The support centre is available Monday to Thursday from 8:30 am- 6:30 pm and on Friday from 8:30 am-5:30 pm UK time. If you want to make an enquiry or get your account approved outside these hours, you will have to wait or look for another provider.
No transparency in exchange rates: If you want to transfer funds or simply compare rates, you'll have to either open an account or contact support. From the website, you can not get an upfront quote or indicative rate.
No mobile app: Transfers are made through phone or from the website platform. The provider has not developed an app yet. However, the website is designed using the viewport meta tag and code that supports mobile viewing and interaction.

What kind of payments can I make with Foremost Currency Group?

International money transfer involves several processes such as purchasing the foreign currency you want and sending the funds to your recipient. How you pay for your transfer and the payout methods available determine the cost, convenience and speed of your transfer. Here’s a breakdown of your options with the Foremost Currency Group.

Payment methods available

You can pay for your transfer or currency purchase using any of the following options:

  • Bank transfer: When making a transfer to your beneficiary you can pay using a bank transfer. At the last page of your transaction, the provider will display the account details you should use for the transfer depending on the currency you are paying with.
  • Debit card: You can pay using a card you added before the transfer or you can add a new card as you make your transfer. Ensure the correct card is picked during the transfer. 
  • Currency wallet: If you had bought currency in advance and had it stored in your currency wallet; you can use it to pay for your transfer. Normally, when you want to take advantage of exchange rates, you can buy currency for later use.

Withdrawal options available

Foremost Currency Group only supports transfers directly into the recipient’s bank account. If for whatever reason your beneficiary cannot receive money this way, you’ll have to look for an alternative provider who supports your preferred options. 

How to send and receive money with Foremost Currency Group

The provider has simplified the process of making and receiving international payments. Your dedicated currency broker will take you through the transfer process online or over the phone and ensure that you get the best currency transfer solution. 

How to send money with Foremost Currency Group

There are two main processes involved in sending money: signing up for an account and making the transfer to your recipient. Here are the steps in detail from start to finish.

1. Account signup 

If you already have an account, you can simply log in and start your transfer. However, for new clients, you’ll have to follow the below steps to successfully sign up.

  • Choose the type of account: There are two types of accounts you can sign up for- personal account and business account.
  • Create your login details: Enter your email address and a password you can easily remember but not so simple that anyone can guess.
  • Your account details: Key in your name, date of birth, the country you are opening the account from, your address and whether you need a joint account. You’ll also be required to enter your mobile number which the system will verify by sending you a 5-digit PIN. Enter and confirm the pin in the slot provided to move to the next step.
  • Your transfer plans: To enable the provider to personalise your transfer service, you’ll be asked to enter the currency you have and an estimate of the amount you plan to transfer in a year.
  • Documents verification: You need to provide some documentation in order to complete the registration process. This includes identity verification documents such as your national ID card, driver’s license, or passport and proof of address documents such as utility bill, bank statement, or phone bill.

Once the compliance team has checked through the documents, your account will be approved, and you will be assigned a personal currency expert.

2. Making your transfer

Making a transfer through Foremost Currency Group is simple. Start by selecting ‘make a transfer’ on the home screen and follow the below steps.

  • Choose recipient; If you have an existing recipient you can select them. There is also an option to add a new recipient.
  • Transfer details: Enter the currency you wish to pay with and the amount you would like to pay or the amount you would like to send. Then click on ‘get rate’ to see the exchange rate and the converted amount. The rate is live and refreshes every minute. Choose the reason for the transfer and add a recipient reference you’d like to appear against your payment on the beneficiary’s bank statement.
  • Payment: You can choose to pay via a bank transfer, debit card or currency wallet if you have a balance there. Remember you can always purchase currency and have it stored in your wallet for later use.
  • Confirm transfer: You’ll need to confirm the details of the transfer which include the amount due, card number, the recipient and transfer amount. If you’ve paid via a debit card or currency wallet, your transfer is now complete. However, if you paid using a bank transfer, a page with the payment details will load and you’ll need to transfer money to the account details displayed to complete your transfer.

If you wish, you can send your recipient a quick email notifying them that you have initiated a transfer. This is provided for through a custom page at the end of the transfer window.

How to receive money with Foremost Currency Group

The beneficiary will receive the funds directly into their bank account. There is nothing for them to do unless the authorities in the country demand that they declare the source and purpose of the funds.

Does Foremost Currency Group have an app?

No, the provider has no app. Online transfers are initiated through the website.

How fast are Foremost Currency Group transfer speeds?

Transfers take 1-2 days to be delivered. However, on Trustpilot, several customers indicated that their transfers were completed within 24 hours.

Are there maximum and minimum transfer amounts?

On Foremost Currency Group’s online platform, the minimum amount you can transfer is £100 and the maximum is £25,000 per transaction. Over the phone, the minimum you can transfer is £1,000 but there is no maximum limit.

Can I trust Foremost Currency Group?

Foremost Currency Group is one of the most trusted international money transfer providers in the industry. Its dedication towards secure, efficient, and cheap money transfer services has seen it employ over 500 currency specialists and invest in innovative currency tools.

Below is a breakdown of what makes this provider a trusted brand in the currency exchange and cross border money transfer market.


Foremost Currency Group has been around for over a decade, having been incorporated as The Foreign Currency Group Limited, a private limited company on August 24, 2005, under company number 5544575. The registered office was on 11 Murray street, Camden London Greater London NW1 9RE and the first two directors were Robin McEwen and Elliot McEwen each holding 100 shares. On September 5, 2005, the registered office changed to The Red House 10 Market Square Old Amersham Buckinghamshire HP7 0DQ.

On October 19, 2005, the company changed its name to The Foremost Currency Group Ltd through a special resolution. On the same day, its registered office changed to The Red & White House 113 High Street Berkhamsted Hertfordshire HP4 2DJ.

On June 4, 2008, the provider changed its address again to the current Sutton Court, Church Yard, Tring HP23 5BB. The company now has more than 20 offices from which it serves its customers.

Regulatory compliance

Foremost Currency Group is licensed and authorised by the Financial Conduct Authority (FCA) to carry on business as an electronic money institution. Its reference number is 900204.

The Payment Services Regulations 2017 under which the provider operates, requires that it holds clients’ funds in a segregated bank account. The provider uses Barclays plc as its banker.

Encryption and customer data

When you access the provider’s online platform by registering or logging in, a secure connection is created. The Foremost Currency Group uses Secure Socket Layer (SSL) encryption to link your browser with its platform. 

The company is also fully compliant with the recently brought in General Data Protection Regulation (GDPR) which ensures clients data is always protected.


The company is privately held by CD Topco Ltd; an entity incorporated in New Jersey and jointly controlled by Corsair Capital and Palamon Capital Partners. 

Customer satisfaction

Based on the abundance of positive reviews and a TrustScore of 4.9/5, clients seem happy with the services they get from Foremost Currency Group. Those who rated the provider 4 and 5-stars had the following experiences to share:


  • Excellent service: The currency experts conducted themselves professionally while guiding customers through the transfer process 
  • Fast transfers: The provider moved money from France to the United Kingdom within 24 hours
  • Superior exchange rate: Compared to high street banks, the provider’s rates were the best


  • Delayed transfer– A customer transferring money to Dubai saw his transfer delayed for over two weeks even after being promised that it would take a couple of days

Can I cancel my transfer?

Yes, you can cancel. However, you’ll need to put it in writing to the Foremost Currency Group support team.

Top destinations for using Foremost Currency Group

Out of the more than 120 countries that the provider sends money to, the following are the most frequented destinations.

Customer support

The Foremost Currency Group support centre operates from Monday to Friday, but not over the weekends. Monday to Thursday, the operating hours are from 8:30 am-6:30 pm and on Friday, the centre operates from 8:30 am-5:3 pm. You can reach them through any of the following channels:

  • Phone: You can call +44 (0)1442 892060 from anywhere around the world. This is a toll number and you should check your international calling rates before placing a call.
  • Email: The customer support team can be reached on info@fcgworld.co.uk. Alternatively, you can fill in the web form on the ‘contact us’ page and hit the ‘send’ button.
  • Physical visit: If you want to visit the Foremost Currency Group in person, you should first call and make an appointment.


Foremost Currency Group has helped thousands of businesses and individuals take the hassle out of their international payment and currency exchange transactions. Since 2005, the provider has helped over 35,000 clients transfer funds to more than 120 countries in 40 currencies.

Sending money through Foremost Currency Group is simple, fast and cheap. Clients can either buy currency when the rates are good and send later or make direct transfers from their bank accounts or debit cards. Additionally, you’ll benefit from expert advice and support when making your transfer to ensure you’re getting a good deal.

Transfer services such as spot contract, forward contract, limit order, stop-loss order and Overseas Regular Payment Plan, help clients to minimise exchange rate risks and reduce the hassle of sending money and offer a flexible range of options not available with all money transfer providers.

Beneficiary payouts are made through direct bank deposits. If you are looking for a provider that can payout using mobile transfer or cash pickup, you’ll have to shop around for an alternative. 

To help you get the best deal, we have a money transfer comparison tool that can pull out a list of recommended providers. You can use this tool to evaluate if Foremost Currency Group is the best option for your transfer, but its strong track record and number of positive reviews means that you’ll likely see it among the best services available for most situations.

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