/ About our Banking Partner

Cornerstone FX are partnered with Currencycloud who are FCA regulated as an e-money Institution. As an e-money institution Currencycloud fully safeguards funds with tier one credit institutions. As an Electronic Money Institution (EMI), Currencycloud, collect and store funds for clients, as well as facilitating FX conversions and processing outbound payments. Any funds held on a client's behalf, for the provision of a conversion or payment service, are subject to safeguarding - ensuring that your funds are always protected and can be issued back should Currencycloud go into administration or liquidation. Unlike holding money in a standard bank account, all of our clients’ funds are protected, regardless of the value. We separate clients’ funds from our company funds and safeguard them with tier one credit institutions. If Currencycloud was to become insolvent, the safeguarded funds would form an asset pool from which claims of the e-money holders (our clients) would be paid above those of other creditors. The authorized credit institutions have no rights over safeguarded funds of Currencycloud. Cornerstone FX are also a certified Benefit Corporation which means we’re counted among businesses that are leading a global movement for an inclusive, equitable, and regenerative economy. It also means we've made a legal commitment to never place our own interests ahead of yours, or any of our stakeholders. Currencycloud are trusted to transact over £20Bn annually by over 1.6 million customers, spread across over 1000 different service providers. They are the payments engine behind companies such as Revolut and Azimo who are focused on servicing the transactional consumer market. Cornerstone FX service the corporate segment who want the same great rates, but with the more traditional levels of service and expertise. This is why Cornerstone FX can offer all of the benefits traditional brokers and fintechs but with none of the drawbacks, all with the highest levels of security and unparalleled service. The diversified model of providing solutions to organisations serving different customer segments means that unlike a traditional currency broker, there is no reliance or risk placed on a small number of customers. Economies of scale and strength in numbers means better security, better technology and better rates.
 

/ We only work with FCA regulated partners

Currencycloud hold an e-money license enabling our clients to hold funds on account, and collect funds in from third parties into their own named currency accounts from all over the world. This is a step up in regulation from the standard API license held by the majority of traditional brokers. Unlike Banks, there is no limit to the amount of protection your funds have, your money is held in separate accounts with tier one banks. In the unlikely event of Currencycloud ceasing to exist, your money remains protected.

Less than half of traditional currency brokers currently hold an e-money license, does yours?

FinCEN Regulation

Payment Services for Cornerstone FX Limited are provided by The Currency Cloud Inc. Registered Office: 104 5th Avenue, 20th Floor, New York , NY 10011. The Currency Cloud Inc are registered with FinCEN and authorized in 22 states to transmit money.

CFSB – Community Federal Savings Bank

In the US Currency Cloud operates in partnership with CFSB to facilitate payments in all 50 states. CFSB fully owns the bank program and services are provided by The Currency Cloud Inc. CFSB is registered with the Federal Deposit Insurance Corporation (FDIC Certificate# 57129)

/ Safeguarding Arrangements

All client funds are fully safeguarded by our FCA-regulated e-money partners at a tier one credit institutions.

/ Data Security

We use a market leading platform through our partner Currencycloud which is compliant with ISO27001.