FIRST RATE FX LIMITED
Company number 05610566 · Monitor this company
The most recent accounts indicate this company is dormant and not trading.
Executive summary
First Rate FX Limited operated as a small-scale UK FX intermediary that ultimately followed the common sector trajectory of acquisition by a larger consolidator. Its 2017 financials reveal a business experiencing significant balance sheet expansion—likely driven by intra-group funding and client money balances—alongside declining profitability, suggesting it was facing the margin compression and compliance cost pressures endemic to smaller FX providers. The acquisition by Moneycorp (under Bridgepoint ownership) in early 2018 represents a strategic exit that removed First Rate FX as an independent competitor, with the entity now dormant. The company's financial profile and ultimate acquisition reflect broader industry consolidation dynamics where private equity-backed platforms absorb smaller operators to achieve scale and competitive advantage.
Shareholders' funds
£734,232
Balance sheet as at 2017-12-31
Overview
- Company type
- Private Limited Company
- Incorporated
- 2005-11-02
- Registered office
- Floor 5, Zig Zag Building, 70 Victoria Street, London, England, SW1E 6SQ
- Postcode
- SW1E 6SQ
- Capital
- 2,363 GBP
- Accounts category
- Dormant
- Charges
- 2 outstanding
Accounts
- Last made up to
- 2025-12-31
- Next due by
- 2027-09-30
- Financial year end
- 31 December
Confirmation statement
- Last statement dated
- 2025-09-26
- Next due by
- 2026-10-10
Nature of business (SIC)
- 64999 Financial intermediation not elsewhere classified
Officers 1 current · 11 resigned
Group structure
Controlled by BRIDGEPOINT ADVISERS LIMITED — since 2018-01-31
Controlled by BRIDGEPOINT EUROPE (SGP) LTD — since 2018-01-31
From persons-with-significant-control filings on the public register.
Contact details
- Website
- http://www.firstratefx.com
Previous registered addresses 6
| Address | Changed on |
|---|---|
| DOCKLANDS BUSINESS CENTRE, 10-16 TILLER ROAD, DOCKLANDS, LONDON, E14 8PX | 2020-03-26 |
| LEVEL 35, 25 CANADA SQUARE, LONDON, E14 5LQ | 2019-10-01 |
| LEVEL 32 25 CANADA SQUARE, LONDON, E14 5LQ, ENGLAND | 2014-05-12 |
| 249 CRANBROOK ROAD, ILFORD, ESSEX, IG1 4TG | 2014-01-20 |
| LEVEL 32 25 CANADA SQUARE, CANARY WHARF, LONDON, E14 5LQ, ENGLAND | 2013-11-06 |
| LEVEL 33 25 CANADA SQUARE, CANARY WHARF, LONDON, E14 5LQ | 2011-08-25 |
Among its peers
Top 25%
by shareholders' funds, of 633 similar companies in SW
Among the oldest 25% of its local peers, trading since 2005.
Competitors London
This company ranks 92 among financial intermediation not elsewhere classified in London.
The class of 2005
34%
of the 1,435 companies in this sector incorporated in 2005 are still active today; 64% have since been dissolved.
A fact about the year, not a forecast for this company.
This company's registered activities are in financial services. If it carries on regulated business, it should appear on the FCA's Financial Services Register — the official record of authorised firms.