Frequently asked questions

 
 

Below you'll find answers to the questions we get asked the most about the MillTechFX offering.

 

About MillTechFX

what is unique about milltechfx?

The MillTechFX best-execution engine was originally developed for managing the portfolios of Millennium Global’s large institutional clients. Millennium Global draws on a 25 year experience in foreign exchange markets, manages c. US$20bn (as of 12/2018) in managed currency solutions and in 2018 competitively executed over US$750bn of trading volume with 10+ of the world’s largest banks.

MillTechFX’s FinTech team has extracted and enhanced this core technology providing unique access for corporates, institutions and asset-managers to a robust multi-bank FX execution platform and enhanced FX services.

MillTechFX clients are able to directly access transparent and competitive multi-bank rates. They also benefit from the enhanced currency expertise, including risk management tools such as AI Robo-Hedging, currency portfolio management tools and premium access to Millennium Global’s advisory services.


Is MiLLtechFX a startup?

MillTechFX is the FinTech platform of Millennium Global Investments, one of the largest independent specialist currency managers. Millennium Global was founded in 1994, has $20Bn AuM, and transacted over $750bn of FX in 2018 with 10+ of the largest bank counterparties in the world. Over the past 25 years, Millennium Global has developed and perfected the platform that powers one of the most established dedicated institutional FX-execution desks in the world. MillTechFX was created to allow corporates, institutions and asset managers to benefit from Millennium Global’s strong expertise in currency management and its access to the multi-bank FX market with a deep pool of liquidity. Learn more about Millennium Global >>


Who are MiLLtechFX FX solutions for?

Our clients are business that operate and trade globally. We work with Pension funds, Corporates, Institutional Asset Managers, Fund Administrators, Private Wealth Managers, Independent Financial Advisers (IFAs), Family Offices, Endowments, Challenger Banks, and Foundations & Charities. Our platform services all FX needs for our global clients.

Opening a MillTechFX Account

Can I find out how much I could save with MiLLtechFX before opening an account?

Yes, you can. We offer a free Execution Cost X-Ray tool that will analyse your FX transaction history to reveal any hidden execution costs will show how much you can save with us. Click here for a sample reportor request your Free Cost Analysis.


How much does it cost to open an account and subscribe to the platform?

It’s free. You only pay a pre-agreed markup per transaction.


How do I open an account with MiLLtechFX?

If you would like to open a trading account, please fill in this form. Our Expert will get in touch with you to guide you through the process. You will need to provide us with the standard documentation required to complete the Know Your Client (KYC) and Anti-Money Laundering (AML) checks. These would normally include your company’s Articles of Incorporation, proof of ID and address of a company director and a person making trades, and the authorisation for the person to trade on behalf of their company. Once the necessary checks are completed, your account should be available within 48 hours, and you will be ready for your first trade with MillTechFX.


Can I have a private account with MiLLtechFX?

MillTechFX services corporates, institutions and asset managers. Unfortunately we cannot offer our services to individuals.

Currency trading with MillTechFX

How easy is it to execute an FX trade via MiLLTECHFX?

The process is simple and can be fully executed on the platform without a need to speak to anyone on the phone. Once you have securely logged into your account, choose the currency pairing and the amount you would like to trade. The portal will provide you with the current rates from our bank counterparties and indicate the best market rate. Click ‘Accept’, and the trade will be executed. We will then transfer the proceeds of the trade to your nominated bank account. Currently we offer first party payment only. A Transaction Cost Analysis (TCA) report with a proof of Best Execution will be made available to you via the platform.


Which currencies can I trade using your platform?

Currently we trade the following currencies:

  • Developed Market: USD, EUR, GBP, JPY, AUD, CHF, NOK, SEK, CAD, NZD, HKD, DKK.

  • Deliverable Emerging Market currencies: ZAR, CZK, PLN, CNH, MXN, TRY, THB, HUF, ILS RUB.

  • Non-Deliverable Forwards (NDFs): INR, CNY, RUB, BRL, KRW, TWD, MYR, SAR, CLP, IDR, PHP, AED.

If you are planning a trade, please contact us at experts@milltechfx.com.


Are there any minimum and maximum amounts per trade?

No, there are no limits per trade.

Pricing

How do you price an FX trade?

Our pricing is fully transparent. You will pay or receive the best market rate based on live feeds of FX rates from our panel of global banking counterparties, plus a pre-agreed markup from MillTechFX. That’s it! Our pricing is fully transparent, and there are no other explicit or hidden costs. A Transaction Cost Analysis (TCA) report with a proof of Best Execution will be made available to you via the platform.


How COMPETITIVE ARE THE PRICES THAT I AM SHOWN?

Our panel represents the majority of market makers and we keep on adding new banking counterparties. Our Best Execution Engine ensures that you get the most competitive rate available. We simply and transparently add a small pre-agreed markup.

Can I see a full breakdown of transactional costs?

There are no setup or platform fees. You only pay a pre-agreed markup in addition to the best market rate. That’s it! Our pricing is fully transparent, and there are no other explicit or hidden costs. A Transaction Cost Analysis (TCA) report with a proof of Best Execution will be made available to you via the platform. We also offer a free Execution Cost X-Ray tool that will analyse your FX trade history to reveal any hidden execution costs will show how much you can save with us. Click here for a sample report or request your Free Cost Analysis.

Compliance

How is MiLLtechFX regulated?

Millennium Global Investments Ltd is authorised and regulated by the United Kingdom’s Financial Conduct Authority (FRN - 171039).

Support

What if I can’t find the feature that I need on your platform?

We are constantly improving our platform, and your feedback is invaluable to us. Please get in touch with our support team at support@milltechfx.com, and we will let you know if this feature is already available or is planned.


What should I do if I have a question or a query?

We are always happy to help. Please contact us at support@milltechfx.com.


How can I get support?

Please contact our Support Team at support@milltechfx.com.