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Millbank FX

United Kingdom|2-5 years|
Payment License|Suspicious Scope of Business|Suspicious Overrun|High potential risk|


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+44 0203 889 8840
Level 2 46 Gresham Street London EC2V 7AYE C 2 V 7 A Y UNITED KINGDOM


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+44 0203 889 8840

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Broker Information


Company Name



Millbank FX

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint


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WikiFX Risk Alerts 3
Previous Detection : 2024-07-15
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!
  • This broker exceeds the business scope regulated by United Kingdom FCA(license number: 787366)Payment services Non-Forex License. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

Millbank FX · WikiFX Survey
Danger A Visit to Millbank FX in UK -- Finding No Office
United Kingdom

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Millbank FX · Company Summary

Company Name Millbank FX
Headquarters London, United Kingdom
Years Operating 2-5 Years
Regulations Exceeded
Services Risk management, market analysis, execution solutions
Account Types Corporate and private accounts
Fees N/A
Trading Platforms Direct communication (No specified platform)
Customer Support Dedicated hotline, social media channels, inquiry form
Educational Resources N/A

Overview of Millbank FX

Millbank FX is a financial institution headquartered in London, United Kingdom, operating within the realm of foreign exchange. The broker offers a range of services catering to both corporate and private clients, specializing in risk management, market analysis, and execution solutions. Notably, Millbank FX takes a distinctive approach to trading by facilitating transactions through direct communication with their experts, foregoing the use of a traditional trading platform. This personalized method of engagement sets them apart within the industry.


Is Millbank FX regulated?

Millbank FX Limited operates as a broker under the watchful eye of the Financial Conduct Authority (FCA) in the UK. Since obtaining its Payment License (license number: 787366) on February 8, 2018, from the FCA, Millbank FX Limited has been authorized to provide payment services, such as facilitating transactions and electronic money transfers.


However, it's crucial to highlight that the company has gone beyond the permissible scope of its licensed activities, as indicated in the provided details. Despite being regulated by the FCA, Millbank FX Limited has surpassed the boundaries outlined in its authorized license. This overstepping of boundaries raises concerns and calls for cautious consideration by individuals dealing with the company. While the FCA's regulatory oversight offers a degree of reassurance, potential clients should exercise vigilance due to Millbank FX Limited's deviation from its licensed parameters.


Pros and Cons

Millbank FX distinguishes itself with its personalized approach to foreign exchange services, offering tailored risk management, market analysis, and execution solutions. Their direct communication model enables clients to engage directly with experts, fostering a unique and customized trading experience. Regulated by the FCA under Payment License 787366, Millbank FX provides a sense of regulatory assurance, and its specialization in overseas fund transfers can be advantageous for private clients seeking efficient cross-border transactions.

Several concerns arise when considering Millbank FX. Firstly, the lack of disclosed physical address raises questions about transparency and accessibility. Additionally, the absence of an explicit fee structure and educational resources may hinder clients' ability to assess costs and make informed trading decisions. Notably, the exceeded license scope suggests potential regulatory complications. Moreover, the absence of a dedicated trading platform may limit clients' access to advanced tools and automated trading features, impacting the overall trading experience.

Pros Cons
Personalized risk management Lack of disclosed physical address
Tailored market analysis Absence of detailed fee structure
Efficient execution solutions No dedicated trading platform
FCA regulation and oversight Limited educational resources
Specialization in overseas transfers Exceeded license scope, potential regulatory issues

Products and Services

Millbank FX caters to both corporate and private clients with a suite of specialized products and services designed to meet their distinct financial needs. For corporate clients, Millbank FX provides a range of specialized products and services tailored to enhance their financial strategies:

  1. Execution Services: Millbank FX offers a variety of execution options including Spot FX Contracts, Market Orders & Stop Losses, Fixed Forward Contracts, and Window Forward Contracts. These services enable corporate clients to effectively manage their foreign exchange transactions with precision and flexibility.

  2. Risk Management: Millbank FX's innovative risk management solutions go beyond conventional approaches. They analyze market dynamics and offer expert insights, helping corporate clients mitigate potential risks associated with currency fluctuations and market volatility.

  3. Analysis: Millbank FX provides comprehensive market analysis to empower corporate clients with actionable insights. Their in-depth analysis equips clients with the information needed to make informed decisions and optimize their financial strategies.

For private clients, Millbank FX offers:

4. Overseas Transfer: Millbank FX facilitates overseas money transfers for private clients, ensuring secure and efficient cross-border transactions. This service is designed to meet the specific needs of individuals looking to transfer funds internationally.

How to open an account in Millbank FX?

Opening a corporate account with Millbank FX is a straightforward process that allows your company to access their financial services. The process only involves these 6 simple steps:

  1. For corporate clients, you can start by filling in your company's name, registration number, address, telephone, and website.


2. For both types of clients, submit the personal details of the authorized person or account owner, including name, title, birthdate, email, and address.

3.Provide a copy of valid identification for verification

4.Indicate preferred currencies, countries for transactions, payment frequency, and monthly volume.


5. Choose the name of your Millbank FX consultant.

6. Review and agree to Millbank FX's terms and conditions, then submit your application for review and approval.

Upon approval, you can start utilizing your account for various financial activities.


Millbank FX's apparent lack of disclosure regarding service fees raises potential concerns for clients who value transparency and clarity in their financial transactions. Unlike many reputable brokers that provide a comprehensive breakdown of their service fees, Millbank FX's platform seems to omit such crucial details. This absence of transparent information on fees could lead to uncertainty and impact clients' ability to accurately assess the costs associated with their trading activities.

Trading Platform

Millbank FX distinguishes itself by operating without a traditional trading platform. Instead, clients engage with the broker through direct communication channels to access their services. This distinctive approach eliminates the conventional interface of trading platforms, making direct contact with the broker the sole method for clients to execute trades and avail themselves of the broker's offerings. While this may provide a personalized and customized trading experience, it also implies that clients rely entirely on direct interactions with Millbank FX's professionals for all trading activities and related services.

Customer Support

Millbank FX provides exceptional customer support to ensure a seamless experience for clients. With a dedicated customer service hotline at +44 0203 889 8840, clients have direct access to responsive assistance, addressing inquiries and concerns promptly.

In addition to its helpline, Millbank FX extends its customer support reach through various channels. Clients can connect and engage through their active presence on social media platforms such as Twitter and LinkedIn. Moreover, their official website offers an intuitive inquiry form, enabling clients to submit queries online, which are then swiftly attended to by their knowledgeable support team. For those who prefer a more personalized touch, Millbank FX's physical address at One Canada Square, Canary Wharf, London E14 5AB, serves as a point of contact for face-to-face interactions.

Customer Support

Educational Resources

Millbank FX's offerings seem to be notably devoid of comprehensive educational resources, which could be a concern for clients seeking to enhance their trading knowledge and skills. Unlike many reputable brokers that prioritize client education, Millbank FX's platform appears to lack a robust collection of educational materials such as tutorials, webinars, articles, and trading guides that are often instrumental in helping traders make informed decisions. This absence of educational resources might limit the potential for clients, especially those new to trading, to acquire a deeper understanding of market dynamics and refine their trading strategies.


Millbank FX stands as a distinct foreign exchange institution catering to both corporate and private clients. Operating under the regulatory oversight of the Financial Conduct Authority (FCA) with Payment License 787366, the broker specializes in personalized risk management, market analysis, and execution services. What sets Millbank FX apart is its unconventional trading approach, where transactions occur through direct communication with their experts, deviating from the traditional use of a dedicated trading platform.

However, certain concerns have been raised surrounding Millbank FX. The absence of a disclosed physical address raises transparency questions, while the lack of detailed fee information and educational resources may hinder clients' ability to make well-informed decisions. Additionally, the exceeded license scope indicates potential regulatory implications, and the absence of a dedicated platform might limit access to advanced trading tools.


Q: What is Millbank FX?

A: Millbank FX is a financial institution offering foreign exchange services and expertise to corporate and private clients.

Q: What is the regulatory status of Millbank FX?

A: Millbank FX is regulated by the Financial Conduct Authority (FCA) in the United Kingdom under Payment License 787366, but it's worth noting that it has exceeded the given license.

Q: What services does Millbank FX offer?

A: Millbank FX provides personalized risk management, market analysis, execution services, and overseas fund transfers.

Q: How does Millbank FX offer customer support?

A: Millbank FX offers customer support via a dedicated hotline, social media channels, and an inquiry form on their website.

Q: Does Millbank FX provide a trading platform?

A: No, Millbank FX conducts trades through direct communication with their experts; there is no conventional trading platform.

User Reviews

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Diem Chau
more than one year
Amazing team! Nice and supportive conversation with my account manager, she always motivates me! Millbank FX is exactly what I was looking for. Keep it up!
2022-12-20 10:37
more than one year
If you want to lose your money, just invest in this platform. I received more than 10 calls from this company’s agents, asking me to open an account, depositing…
2022-12-08 14:06


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