Bound for business: FX rates, forwards and licences

Pricing

What Bound charges.

Under $20M FX a year: 0.45% with a 5% deposit, 0.75% withoutTypical tiers for major currencies
$20M–50M: 0.40% / 0.65%
$50M–100M: 0.35% / 0.60%
$100M–250M: 0.30% / 0.55%
$250M+: 0.25% / 0.50%
Forward amendments: 0.05% for a date change or smaller amount; 0.25–0.75% for a larger amount
Setup and monthly fees: None

Products

Spot, forwards and orders.

Spot: Yes“from 0.03%”, a floor
Forward contracts: Fixed and flexibleChange the date or amount, draw down early or split
Hedging strategies: Forward, averaging and ranging programmes
NDFs and swaps: Yes
Limit, stop and trailing-stop orders: Yes
FX options: Not offered as a product
Forward contract terms: OfferedDeposit: 5%, or none at a higher spread (the deposit option is not available to retail clients). Minimum: $1M of FX a year

36+ currencies, as Bound states.

Who it serves

Who Bound works with.

Who it serves: UK mid-market companies (about $13.5M to $340M+ revenue), fast-growing start-ups, venture and private equity funds
Minimum: $1M or equivalent of FX a year
Purpose: Commercial hedging only; speculative trading ends the relationship

Your money

Where your money sits.

E-money wallets issued by Bound, one per currency, in 36+ currencies, pooled in safeguarding accounts; no account details in your name published

How it is protected
E-money safeguarded in segregated accounts at UK-authorised banks (no FSCS). Money for FX contracts, such as margin, is held as client money under the FCA's client-money rules.
You still need an account
Payments to Bound come from your own business account, and conversions are paid back to it or to your suppliers.

Need the account behind your FX? Your profile matches you with providers that take your company.

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Licences

The companies behind Bound.

FCA
Bound Rates Limited
MiFID investment firm, no. 966723
Register entry
FCA
Bound Rates Limited
Authorised e-money institution (since 19 February 2026), no. 1036025

Opening

Getting started with Bound.

How to open: Online form, company checks, then a kick-off call with an account manager
Stated time: “typically 3 to 4 days”; 24–72 hours after checks (FAQ)
Remote: Yes
Support: Email · Phone · Dedicated account manager

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FAQ

Your questions, answered.

What does Bound charge?

A spread on each trade, tiered by your yearly FX volume: 0.45% to 0.25% for major currencies with a 5% margin deposit, 0.75% to 0.50% with no deposit. Spot starts from 0.03%. There are no setup or monthly fees.

Who can use Bound?

Companies with at least $1M of FX a year that hedge for commercial reasons: mid-market finance teams, start-ups and funds. Speculative trading is not allowed.

Does Bound give my business an account?

Bound issues e-money wallets in 36+ currencies that can hold balances, receive payments and pay out, under its e-money licence of February 2026. It publishes no account details in the client's own name, which is why Finzil lists it as a hedging platform rather than a business account.