Security of Funds
As a Deaglo client we want you to feel completely confident in the research and due diligence we have done on your behalf, when entering into an agreement with your new provider. We have been offering clients safe and secure ways to manage global payments with providers that have been in business for over 40 years. Rest assured, we and all of our providers use of state-of-the-art encryption and security techniques on all internal and online systems.
All of our providers are regulated by law.
As a financial institution, our providers are required by law to conduct business in a manner consistent with the best interests of our clients and in accordance with all national regulations governing foreign exchange companies and money transmitters.
We are dedicated to operating in a safe and sound manner, with the highest legal and ethical standards. To ensure client safety, we ensure our providers are held to the strictest standards of compliance with the regulations in the jurisdictions in which they operate.
United States - Our providers are subject to the Bank Secrecy Act as amended by the USA Patriot Act. They are registered with FinCEN and regulated by the IRS, in addition to being licensed and regulated by several state banking commissions in the US, including the New York State Banking Department and California Department of Financial Institutions, two of the most stringent regulators in our industry. They post multi-million dollar bonds as a sign of their financial security.
Our Payment and Foreign Currency Exchange Services to customers based in the United States (USA) are provided by Associated Foreign Exchange, Inc "AFEX". Associated Foreign Exchange, Inc. (“AFEX”) is licensed and regulated as a Money Transmitter by the following Regulatory State Agencies. AFEX is also registered as a Money Services Business (MSB) with the Financial Crimes Enforcement Network (FinCEN), a bureau of the United States Department of the Treasury (Document Control Number: 20113470000126)
UK - Our providers are authorized by the Financial Conduct Authority (FCA) under the Payment Service Provisions 2017 for provision of payment services, and a registered Money Services Business (MSB) with HM Revenue & Customs. Our providers are authorized and regulated by FCA to advise on and execute trades in FX Options.
Switzerland - Our providers are regulated by the self-regulation organization VQF. The VQF holds the function of an officially FINMA-recognized self-regulated organization (SRO) pursuant to the Anti-Money Laundering Act (AMLA).
Australia - Our providers are licensed and regulated by ASIC and AUSTRAC.
EU - We ensure that our providers comply across the EU and all the individual local regulations, including the European Markets in Financial Instruments Directive (MiFID).
Our Payment and Foreign Currency Exchange Services to customers based in the European Economic Area (EEA) are provided by Ebury Partners UK Limited. Ebury Partners UK Limited is authorized and regulated by the Financial Conduct Authority as an Electronic Money Institution. (Reference Number 900797). Ebury Partners UK Limited is authorized to provide its permitted services in the European Economic Area (EEA).
Our providers regulatory obligations require them to segregate clients’ funds, as part of safeguarding arrangements in the unlikely event of liquidation.
We work with the most respected institutional banks in the world
Our providers maintain bank accounts with some of the most respected institutional banks in the world, including Deutsche Bank, Bank of America and Banco Santander, where customers deposit and settle payments. We take security very seriously and conduct business in a manner consistent with the best interests of our clients and our partners.
If you have any questions about setting up an account or your account, then please contact our team