FAQs

WHAT IS FM EXCHANGE?

It is an application that creates a secure meeting place for Immigrants in the Diaspora to exchange Currencies.

WHAT WOULD IT COST TO USE FM EXCHANGE?

  • - Our Swap transaction is free
  • - Peer to Peer Transactions: Your first peer to peer transaction is free! After that, we charge a flat rate of 1% for transactions of 200 CAD/GBP/EUR and above and a flat fee of 2 CAD/GBP/EUR for transactions less than 200 CAD/GBP/EUR.

WHAT MAKES FM EXCHANGE DIFFERENT FROM OTHERS?

  • - We give you a peer-to-peer marketplace to exchange the currencies that matter to you. Unlike the others, we let you determine your own rate.
  • - You can take advantage of our Fx futures capacity and lock in deals at favorable rate.
  • - We ensure identity protection: Usernames not real names are displayed when users interact with each other on the application.

IS THERE A LIMIT TO THE AMOUNT I CAN EXCHANGE ON THE APP?

No, there is no exchange limit within the app only withdrawal limits. The daily withdrawal limit for a regular customer is 3000 CAD/Euro/GBP, 10000 CAD/Euro/GBP weekly and 20000 CAD/Euro/GBP monthly. If you want to do more, you can apply for HNI status. Ask how here: customerservice@fmexchange.ca

HOW DO I ACCESS THE FM EXCHANGE APP?

  • Follow the steps below:
    1. Download the app
    2. Click the register button to sign up.
    3. Complete the form with your personal information.
    4. Confirm account by entering the code sent to your registered email and phone number.

I HAVE PAID, BUT MY FM EXCHANGE WALLET HAS NOT BEEN CREDITED. WHY?

If you initiated to fund your wallet and you have not been credited, go through the list below:
  1. Make sure that you followed the process as stated on the application (for CAD wallet funding) or your transfer was sent to the correct details provided on the application (for NGN/Euro/GBP wallet funding)
  2. The funds may take 30 - 45mins to reflect in your wallet depending on the bank you are transferring the funds from.
  3. Contact our responsive team if you have completed these steps and still haven’t been credited.

WHEN DO I GET MY REFERRAL BONUS AND HOW DO I REDEEM IT?

The referral bonus will show up on the referral bonus tab on the app for you and your referred when the referred completes their first transaction. You do not need to do anything.
Your referral bonus can be redeemed in two ways:
  1. Automatically applied to offset fees for peer-to-peer transactions.; or
  2. Accumulated as cashback after completing a total of 1,000 CAD/EUR/GBP in cumulative swap transaction.

HOW LONG WOULD IT TAKE TO VERIFY MY DOCUMENTS?

Usually verified within minutes, but a maximum of 24 hours.

DO YOU HAVE DEMO VIDEOS EXPLAINING HOW THE APP WORKS FOR USERS?

Yes We do. Click the link below to check out our demo videos:

Get the app now for free

Download our app to start sending and receiving money in the currencies that matter to you.

FM Exchange