When you're looking to move money internationally or manage currency for property purchases, investments, or family needs, choosing the right provider feels like a big decision. You're probably wondering: "Who exactly is Oku Markets, and can I trust them with my money?"
This is exactly the right question to ask. Let's give you a transparent, honest answer.
Who We Are
Oku Markets is a specialist currency exchange and international payments company. We're not a bank, but we work alongside FCA-regulated firms and banks to help individuals move money across borders more efficiently and cost-effectively than traditional banking routes.
Think of us as the bridge between you and the global currency markets.
While your high street bank might offer international transfers as a side service, currency exchange is what we do all day, every day.
Our typical Private Clients include:
- Families buying property abroad
- Expats receiving income from overseas
- Parents paying international school fees
- Investors managing global portfolios
- Anyone who regularly moves money between countries
How We Operate
We keep things straightforward. Here's how it works:
Regulation and Compliance: Oku Markets is not directly authorised by the Financial Conduct Authority (FCA). We provide our service through FCA-regulated partners — Currencycloud, ALT21, Ebury, and Sciopay. They carry the regulatory permissions and handle the regulated parts of your transfer (safeguarding client funds and executing payments), while we focus on service, pricing, and support.
Your Money's Protection: Your funds are safeguarded in segregated client accounts by our FCA-regulated partners at major banks. Safeguarding means your money is kept separate from company funds and cannot be used for any other purpose. If anything were to happen to our Partners, your funds would be ring-fenced.
The Transfer Process: When you want to exchange currency, we lock in your rate, you then send the currency you're selling, and we return the equivalent amount in your chosen currency. Funds go in and out of your own currency wallet account that we provide. You can hold funds, transfer them back to your own account, or pay to another recipient. No hidden surprises, no last-minute rate changes.
What Makes Us Different from High Street Banks
Banks are excellent for many things, but international payments often aren't their strength. Here's why:
Rate Transparency: We show you exactly what rate you're getting upfront. Banks often hide their margins in unclear "standard rates" or buried fees.
Personal Service: You'll speak to real people who understand currency markets. Our team knows that moving money abroad can feel stressful, especially for large amounts – we call this "big number anxiety" – and we take that stress away.
Specialist Knowledge: We live and breathe foreign exchange. While bank staff handle everything from mortgages to current accounts, our team focuses solely on helping clients navigate currency transfers. It's the only thing we do.
Cost Efficiency: Our rates are typically far better than high street banks because we deal in high volumes and have lower overheads; we pass those savings to our clients.
Our Track Record and Social Proof
Client Satisfaction: We maintain a 4.8-star rating on Trustpilot based on verified customer reviews. Clients consistently praise our clear communication, competitive rates, and stress-free service.
Industry Recognition: We're members of key industry bodies and maintain relationships with major financial institutions across Europe and beyond. You'll find us quoted in major newspapers, financial news, and authoring articles.
Leadership Team: Our leadership team has more than 100 years of combined experience in financial markets. The team combines deep market knowledge with a genuine desire to make international finance less complicated for individuals.
Real Client Feedback:
"I used Oku Markets recently to exchange some CAD to GBP. Harry and Henry were very helpful at explaining me through the process" – Ailsa
"Great company. Assistance on all fronts and transactions and payments carried out in a timely fashion. Problems resolved very quickly. Can’t fault the service." – Ian
Red Flags to Watch for in Any Provider
Since you're doing your research (which is smart), here's what to watch out for when choosing any currency provider:
- Unregulated firms or unclear regulatory status
- Upfront fees before any service is provided
- Pressure to make immediate decisions
- Rates that seem too good to be true
- Poor or non-existent customer reviews
- Lack of transparency about where your money is held
We encourage you to check our UK partners' FCA registrations, read our terms clearly, and never feel pressured to proceed unless you're completely comfortable.
Your Money's Safety with Us
This is probably your biggest concern, and rightfully so. Here's exactly how your funds are protected:
FCA-regulated partners: We work through the following UK providers:
- Currencycloud – FCA-authrorised, Visa-owned global payment business. We mostly use Currency Cloud for private clients, especially in the U.S. It's likely that your Private Client account would be placed via Currency Cloud.
- Ebury – FCA-authrorised, 51% owned by Santander. We mostly use Ebury for Corporate clients in the UK.
- ALT21 – FCA-authrorised, well-funded private business. We mostly use Alt21 for complex Corporate hedging transactions, but sometimes for Private Clients.
- Sciopay – FCA-authorised, technology-focused payments firm. We mostly use Sciopay for specialist Corporate FX business or for clients outside of Europe.
Safeguarded, segregated accounts: Your money never mixes with company funds. Our partners hold it in ring-fenced client accounts at major banks until your transfer is completed or returned. You have full visibility via our online platforms.
Independent oversight: Our partners are authorised by the FCA and undergo regular independent audits. We also operate robust internal controls and vendor due diligence.
Clear paper trail: Every transaction is documented and trackable. You'll receive confirmations from us and, where applicable, from the relevant partner.
What to Expect as a Client
Initial Consultation: We'll discuss your specific needs, explain how the process works, and provide a clear quote with no hidden fees.
Ongoing Support: Whether you need one transfer or regular ongoing payments, you'll have a dedicated contact who understands your situation.
Market Updates: We'll keep you informed about currency movements that might affect your transfer timing, but we'll never pressure you to act.
Transparent Pricing: Our rates include our margin. What you see is what you pay.
Frequently Asked Questions
Is Oku Markets regulated?
Not directly. Oku Markets provides services through FCA-regulated UK partners — Currencycloud, ALT21, Ebury, and Sciopay. They hold the regulatory permissions and handle the regulated parts of your transfer, including safeguarding client funds and executing payments.
What happens to my money if something goes wrong?
Your funds are safeguarded in segregated client accounts by our FCA-regulated partners. Safeguarding means your money is kept separate from company funds and is returned in line with regulation if a firm were to fail.
How do your rates compare to high street banks?
Our rates are typically 1-4% better than high street banks, though this varies with market conditions and transfer size. We'll always show you exactly what rate you're getting.
How long do transfers take?
Most transfers complete on the same day, often within minutes or hours, but other transfers might take 1-2 business days, though this can vary depending on the destination country and local banking systems.
What if I need to transfer a very large amount?
We regularly handle significant transfers for property purchases and other major transactions. Large amounts often qualify for even better rates and dedicated support.
Do you offer any protection against rate movements?
Yes, we offer forward contracts that let you lock in today's rate for future transfers, protecting you against adverse currency movements. Eligibility and terms apply.
How do I know this isn't a scam?
Check our verified Trustpilot reviews and independently verify our UK partners’ FCA registrations. You’ll also see the partner’s name on key documents and statements for the regulated parts of your transfer. Never feel pressured to proceed immediately — take the time you need and speak to us if anything is unclear.
What if I'm not happy with the service?
Please tell us — we’ll try to fix things quickly. We have a clear and documented complaints process, and we maintain a complaints log that we share with our Partners. Where applicable, complaints may be escalated to the Financial Ombudsman Service.
Take the Next Step
We help Private Clients move money with ease. No jargon, no over-engineering: just sensible currency guidance and support when you need it.
Get in touch at info@okumarkets.com or
0203 838 0250 for a straight-talking review of your currency requirements.
