Fiscal FX Celebrates 5-Year Anniversary: A Journey of Perseverance and Growth

We are proud to announce our 5-year anniversary, marking a significant milestone in our company journey. Founded in 2019 by our CEO Archie Scarborough at just 28 years old, Fiscal FX began as a bold venture from the spare room of his house amidst a global pandemic. Today, we stand as a testament to perseverance and vision, having grown from a one-man operation into an FCA regulated entity with a thriving team of 25 professionals.

From our humble beginnings, Fiscal FX has moved to a contemporary office in the prestigious One Canada Square in Canary Wharf, London offering international payments in over 140 currencies to 145 countries. This remarkable growth reflects our dedication to offer an expert, personal service and become the go-to partner for businesses and individuals in the FX market.

A Humble Beginning

The inception of Fiscal FX traces back to a pivotal moment in Archie’s career. After several years at an FX broker, he found himself at a crossroads—either continue in a limiting environment or venture out independently. Encouraged by the successes of former colleagues, Archie decided to take the entrepreneurial leap. With the vision of creating a business that balanced professional ambitions with family life, he handed in his notice and embarked on this new journey.

Navigating Challenges and Setting Ambitions

The early days of Fiscal FX were not without challenges. Just as the business was gaining momentum, the COVID-19 pandemic struck, causing a significant drop in client engagement. However, Archie’s commitment to his vision saw him through these tough times. His primary ambition was to establish a successful business that not only thrived in the competitive FX market but also provided a balanced life for himself and his young family.

The Pursuit of FCA Regulation

An essential part of our growth was achieving FCA regulation. Early on, an internal issue with a partner highlighted the need for greater control over our business processes. Archie recognised that being a regulated entity was crucial for long-term success. The first attempt to secure the FCA license was a learning experience. Despite initial setbacks, the determination to succeed never wavered.

Learning from Setbacks

The initial FCA application process, though unsuccessful, was a valuable learning experience. Realising the need for more comprehensive preparation, our team regrouped, bringing on board experienced professionals, including Andrew Harrison, a former Group MNRO for Money Corp. With a more robust team and a clearer understanding of the requirements, we reapplied with a meticulously prepared 1,500-page submission.

Celebrating Success

The approval of the FCA license was a momentous occasion for Fiscal FX. It was the culmination of nine months of intense work, patience, and dedication. The entire team celebrated this achievement, recognising it as a testament to their collective efforts and resilience.

Of this achievement Archie said: “This is the proudest moment of my working career so far. Fiscal FX is now an Authorised Payment Institute! Over the past 2 years we have been working extremely hard in the background to reach this milestone. This is a huge success for the team and business. This marks our place in the industry and will allow us to continue to push boundaries. Thanks for the moral support from my business partner Billy Downer and thanks to Andrew Harrison Chartered MCSI for guiding us through this journey, along with everyone else involved! It’s an unbelievable achievement.”

Looking Ahead

As we move forward, the focus remains on maintaining our growth trajectory, gaining new clients and transitioning current clients to the regulated model. With a strong team and a clear vision, the company is poised to achieve its next set of goals, including expanding revenue streams.

Archie’s Reflection

Reflecting on the journey, Archie shares, “The past five years have been a rollercoaster, but the perseverance and commitment of our team have been truly inspiring. Achieving FCA regulation was a significant milestone, and we are excited about the future. Our priority remains to provide exceptional service to our clients and continue growing as a trusted entity in the FX market.”

About Fiscal FX

We are a leading FX firm committed to delivering exceptional financial services and solutions including Forward Contracts, Market Orders, Mass Payments and Risk Management services. Founded in 2019, the company has grown from strength to strength, earning recognition for its dedication to excellence and regulatory compliance. With a focus on client satisfaction and innovation, we continue to strive to set new standards in the industry.

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