Regulation

 

USFOREX INC. (“USForex”) is a Delaware company with an office in San Francisco, California.  USForex is a wholly owned subsidiary of OzForex Limited (“OzForex”). OzForex is subjected to risk and compliance audits on an annual basis.

We offer 24 hour customer service, if you are dealing with USForex outside of normal US business hours you may speak to a representative of one of our authorised delegates: CanadianForex Limited (Toronto, Canada); OzForex Limited (Sydney, Australia); and UKForex Limited (London, United Kingdom).

USForex is registered at a federal level with Financial Crimes Enforcement Network (“FinCEN”), a bureau of the United States Department of Treasury.   In addition, USForex is licensed in a number of U.S. States by the relevant State Banking Department(s) as a Money Transmitter.  For further details on each of our respective State licenses, please refer to the following list.  

USForex Inc. State Licenses

USForex Inc. operates in the following states:

Alabama Alaska Arizona Arkansas California
Colorado Connecticut Delaware District of Columbia Florida
Georgia Idaho Illinois Indiana Iowa
Kansas Kentucky Maine Maryland Massachusetts
Michigan Minnesota Mississippi Missouri Montana
Nebraska New Jersey New Mexico New York North Carolina
North Dakota Oklahoma Oregon Pennsylvania Rhode Island
South Carolina South Dakota Tennessee Texas Utah
Vermont Virginia Washington West Virginia Wisconsin
Wyoming

*We will be in every state very soon! If you don't see your state, give us your email address below and we will let you know when we arrive in your state. 

Alabama (AL)

Alabama Securities Commission
Sale of Checks License Number SC497 (pdf)

Alaska (AK)

Alaska Dept. of Commerce, Community, and Economic Development
Money TransmitterLicense Number AK-MT-10075  (pdf)

If you have complaints or other concerns in relation to the money services provided by USForex, you may contact the Alaska Department of Commerce, Community and Economic Development, Division of Banking and Securities at (907) 269-4594 or by mail at: 550 West Seventh Avenue, Suite 1850, Anchorage, AK 99507.

Arizona (AZ)

Arizona Department of Financial Institutions
Money Transmitter License Number MT-0923780 (pdf)

Arkansas (AR)

Arkansas Securities Department
Money Transmitter License Number 43375 

California (CA)

State of California Department of Business Oversight
Money Transmitter License Number 2447 (pdf)

Colorado (CO)

Colorado Department of Regulatory Agencies
Money Transmitters License No 500197 
Colorado Banking Board MO7 Customer Notice (pdf)  

Entities other than FDIC-insured financial institutions that conduct money transmission activities in Colorado, including the sale of money orders, transfer of funds, and other instruments for the payment of money or credit are required to be licensed by the Colorado Department of Regulatory Agencies pursuant to the Money Transmitters Act, Title 12, Article 52, Colorado Revised Statutes. If there are questions or concerns regarding a transaction with a licensee, please contact the Colorado Department of Regulatory Agencies at 303-894-7575 or by mail at: 1560 Broadway, Suite 975, Denver, CO 80202. Consumer complaints should be in writing, providing as much detail as possible. Please include the following information:

1. The name of the institution and the name of any person(s) at the institution with whom the complainant has had contact. Include telephone number(s) and addresses.

2. A complete description of the complaint and any efforts that have been made to resolve the complaint directly with the institution.

3. Copies of any available documentation supporting the complaint and efforts toward resolution.

4. Any suggestions regarding a preferred resolution of the complaint.

Connecticut  (CT)

Connecticut Department of Banking

 Money Transmitter License Number 31474 (pdf)

Delaware (DE)

State of Delaware Office of the State Bank Commissioner

Money Transmitter License Number  012035 (pdf)    

District of Columbia (DC)

District of Columbia Dept of Insurance, Securities and Banking

Money Transmitter License Number  MTR8945 (pdf)    

 

Florida (FL)

Florida Office for Financial Regulation
Money Transmitter License Number  FT230000051 (pdf)
USForex Inc. is a licensed money transmitter under Chapter 560, Florida Statutes. For suspected violations of Chapter 560, Florida Statutes, call USForex at (888) 288-7354 or contact the Florida Office of Financial Regulation, 200 East Gaines Street, Tallahassee, FL 32399-0376, (800) 848-3792

Georgia (GA)

Georgia Department of Banking and Finance
Sale of Check or Money Transmitter License ID 33307 (pdf)

Idaho (ID)

Idaho Department of Finance
Transmitter of Money License Number MTL-148

Illinois (IL)

Illinois Department of Financial and Professional Regulation
Transmitter of Money License Number MT-225 (pdf)

Indiana (IN)

Indiana Department of Financial Institutions
Transmitter of Money License# 19673

Iowa (IA)

State of Iowa Division of Banking
Money Services License#2013-0102 (pdf)

Kansas (KS)

Office of the State Bank Commissioner
Money Transmitter License#MT-0000057 (pdf)

Kentucky (KY)

Kentucky Department of Financial Institutions
Money Transmitter No. SC98252 (pdf)

Maine (ME)

State of Maine Department of Professional & Financial Regulation- Bureau of Consumer Credite Protection
Transmitter of Money License Number MD1492 (pdf)

Maryland (MD)

State of Maryland Department of Labor, Licensing and Regulation – Office of the Commissioner of Financial Regulation
Money Transmitter License Number 1021624 (pdf)

The Commissioner of Financial Regulation for the State of Maryland will accept questions or complaints from Maryland residents regarding USForex at: Commissioner of Financial Regulation, Attention Complaint Unit, 500 North Calvert Street, Suite 402, Baltimore, Maryland 21202, toll-free telephone number: 1-888-784-0134.

Massachusetts (MA)

Department of Consumer Affairs and Business Regulation - Division of Banks
Foreign Transmitter License #FT1021624 (pdf)

Michigan (MI)

 Michigan Department of Insurance and Financial Institutions
Money Transmission Services Provider License Number MT-0017997 (pdf)

Minnesota (MN)

Department of Commerce, Banking, & Finance.
Money Transmitter Services Provider License Number MT 52111 (pdf)

If you are a resident of Minnesota you may voluntary disqualify yourself from sending or receiving money transfers through USForex by contacting compliance@usforex.com. All voluntary disqualifications expire within one year from the date of the request, unless you specify that the request remain in effect for a longer period. You may terminate the disqualification at any time by providing written notice to USForex at compliance@usforex.com. Individuals who request disqualification are subject to inclusion on Minnesota’s “No Transmit List” and as such USForex may be obligated to provide your identifying information to the Minnesota Department of Commerce. For more information on Minnesota’s “No Transmit List,” please see Minne. Stat. 53B.27, subd 3.

Mississippi (MS)

Mississippi Department of Banking and Commerce Finance.
Money Transmitter  License Number MT/002398/2014 (pdf)

Missouri (MO)

Department of Insurance, Financial Institutions & Professional Registration – Division of Finance
Sale of Check Business License Number MO-15-7025 (pdf)

Montana (MT)

No Money Transmitter license is currently required under State law.

Nebraska (NE)

Nebraska Dept of Banking and Finance
Sale of Checks and Funds Transmission License Number 1025.0001 (pdf)

New Jersey (NJ)

Department of Banking and Insurance Division of Banking
Money Transmitter License Number L066157

New Mexico (NM)

No Money Transmitter license is currently required under State law.

New York (NY)

New York State Department of Financial Services.
Money Transmitter License Number 102944 

USForex Inc. is regulated and licensed by the New York State Department of Financial services to transact the business of receiving money for transmission within this country and abroad. New York consumers can direct unresolved complaints to the Consumer Assistance Unit, NYS Department of Financial Services, One Commerce Plaza, Albany NY 12257, ph (800) 342-3736, website www.dfs.ny.gov/consumer/fileacomplaint.htm

North Carolina (NC)

North Carolina Commissioner of Banks
Money Transmitter License Number 152930 (pdf)

North Dakota (ND)

North Dakota Department of Financial Institutions
Money Transmitter License Number MT102638 (pdf)

Oklahoma (OK)

Oklahoma Banking Department
Money Transmitter License Number -  (pdf)

Oregon (OR)

Oregon Department of Consumer and Business Services – Division of Finance and Corporate Securities(DFCS)
Money Transmitter License Number MTX-30117 (pdf)

Pennsylvania (PA)

Rhode Island (RI)

Department of Business Regulation Division of Banking
License Number 20142985MT (pdf)

South Carolina (SC)

No Money Transmitter license is currently required under State law.

South Dakota (SD)

South Dakota Department of Labor and Regulation 
Money Transmitter License#MT.2079 (pdf)

Tennessee (TN)

Tennessee Department of Financial Institutions 
Money Transmitter Number 164.

Texas (TX)

State of Texas Department of Banking – Office of the Deputy Banking Commissioner Money Transmitter License Number 3075. (pdf)

If you have a complaint about our services, first contact USForex customer support at 1-888-288-7354. If you still have an unresolved complaint regarding the company’s money transmission or currency exchange activity, please direct your complaint to the Texas Department of Banking at 2601 North Lamar Blvd, Austin, TX 78705, 1-877-276-5554, www.banking.state.tx.us.

Utah (UT)

Utah Department of Financial Institutions
Third Party Money Transmitter License Number No. 095 (pdf)

Vermont (VT)

Vermont Department of Financial Regulation
Money Transmitter License Number #100-062

Virginia (VA)

Commonwealth of Virginia, State Corporation Commission – Bureau of Financial Institutions (BFI)
Money Transmitter License Number MO-261 (pdf)

Washington (WA)

The State of Washington Department of Financial Institutions (DFI)
Money Transmitter License Number 550-MT-70494 (pdf)

Right to Refund—The following applies only to Transactions that are submitted by Senders in the State of Washington: You, the customer, are entitled to a refund of all monies received for transmittal within ten (10) days of receipt of a written request for refund unless any of the following occurs:

(i) The monies have been transmitted and delivered to the recipient prior to receipt of the written request for a refund;

(ii) Instructions have been given committing an equivalent amount of money to the person designated by the customer prior to the receipt of a written request for a refund;

(iii) USForex has reason to believe that the a crime has occurred, is occurring, or may potentially occur as a result of transmitting money as requested by the customer or refunding the money as requested by the customer; or

(iv) USForex is otherwise barred by law from making a refund

West Virginia (WV)

West Virginia Division of Financial Institutions
West Virginia License (pdf)

Wisconsin (WI)

No Money Transmitter license is currently required under State law.

Wyoming (WY)

State of Wyoming Division of Banking
Money Transmitter License Number MC - 7192 (pdf)

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