FAQs
Who should use the Freemarket API?
The API is ideal for any business or individual who makes currency transactions regularly, and manages their finances from another system.
Discover more about our API here.
How quickly can I get my currency?
Once your membership is approved, you can begin exchanging currency immediately – and your funds will usually be available on the same day you make an exchange.
Do you charge commission?
We only charge one fee on your transaction amount.
What is a scheduled exchange?
We make regular exchanges of currency between Freemarket members. These are scheduled at least once per day, at noon; for popular currency pairings, there may be more at intervals throughout the day.
Can I pay third parties directly from my Freemarket account?
Yes, you can.
How do I join?
If you go to join Freemarket, we will guide you through the process, and ask you for all the information we need to verify your membership.
Alternately, click here to take you through to our sign up page.
How do I set up the API?
Once you have an active Freemarket account – and have been through our standard validation checks – you are welcome to request an API key by emailing: support@wearefreemarket.com.
What is API, and how does it work?
An application programming interface (API) lets software systems work together without human intervention.
Discover more about our API here.
Is there a minimum or maximum amount that I can exchange?
Our minimum transaction is £5,000, or its equivalent in another currency. There is no maximum.
How do I know my money is safe?
Freemarket is regulated by the Financial Conduct Authority, and HMRC. Under these regulations, your money is always in a bank account you control, in a segregated escrow account. Our EU-based bank partners make all the withdrawals and payments on your behalf; Freemarket never holds your money.
Where will my money be held?
All of our members’ funds are deposited into EU segregated escrow bank accounts.
How can I complain?
If you are dissatisfied with our service, please send an email to support@wearefreemarket.com or submit a form via our complaints page.
We aim to acknowledge all complaints within 24 hours, and intend to provide a full response to your complaint within 15 business days from its receipt. If a full response cannot be given within this timeframe, we will send you a holding reply indicating reasons for the delay. The resolution of the matter will be provided to you within 35 business days from receipt of your complaint.
Are there any countries that I can’t make or receive payments?
Freemarket take a risk-based approach to onboarding customers and managing transactional risk. Thus, as Freemarket is regulated by the Financial Conduct Authority (FCA), we take our regulatory responsibilities very seriously, and therefore, on certain occasions, we aren’t able to receive and/or send funds from certain jurisdictions, although this may be subject to change in the future.
Click here to see the list of unsupported jurisdictions.