# Bound > Bound is an FCA-regulated FX hedging automation platform. Finance teams connect their accounting software, set hedging rules once, and Bound executes trades automatically as currency exposure appears. Bound (legal name Bound Rates Limited) was founded in 2020 and is based in London. It replaces manual FX workflows, broker calls, spreadsheet exposure tracking and reactive trade execution, with disclosed pricing and rules-based automation that runs continuously in the background. Bound monitors exposure and executes hedges according to the strategy the customer has chosen, so protection is in place before the rate moves rather than decided at the point of payment. Bound holds two FCA authorisations: UK MiFID investment firm (FRN 966723) and Electronic Money Institution (FRN 1036025). It is ISO 27001 certified. More than $2 billion has been traded on behalf of customers across a base of over 200 companies. It is built for internationally active businesses with meaningful, recurring FX exposure that have outgrown spreadsheet tracking, typically Finance Directors, CFOs, Financial Controllers and Treasury Managers. The practical fit runs from a few million a year in foreign currency flow up to roughly $150-200M a year. ## Product - [Product](https://bound.co/product): Automated FX hedging, exposure tracking, multi-currency payments and reporting - [Pricing](https://bound.co/pricing): Spot from 0.03%. Forward contracts from 0.45% with a 5% margin deposit or from 0.75% with no deposit, for annual FX flow under $20M, tiering down at higher volumes. No setup fees, no monthly fees, no per-seat charges - [Business API](https://bound.co/solutions/business-api): API access for programmatic FX and custom reporting - [Speak to an expert](https://bound.co/speak-to-an-expert): Book time with Bound's in-house FX specialists ## How it works Bound connects to accounting, payment and banking systems to calculate live FX exposure, then executes hedging trades automatically against rules the finance team sets once. - Integrations: Xero, QuickBooks, NetSuite, Stripe, Revolut, Google Sheets and bank feeds. Post-trade reconciliation writes back to Xero automatically - Three built-in hedging programmes: Forwarding locks a rate with an FX forward contract. Averaging splits exposure into smaller daily forward trades to produce a trailing average of the market rate. Ranging places stop, limit and market orders together to keep the executed rate inside a defined band - Four approved instrument types: FX spot, FX forward contracts, currency swaps and vanilla FX options. Bound does not offer derivatives for speculation or leveraged instruments - Hedgewick AI: an AI copilot that answers questions about positions, exposure and account status in plain language - Multi-currency support: 36+ currencies with multi-currency wallets, same-day settlement, select currencies in as little as two hours - Amendment tools: trade amounts and settlement dates can be amended, with fees disclosed before confirmation - Platform controls: unlimited users at no per-seat charge, with full trading permissions or four-eyes approval ## Solutions by use case - [Venture capital](https://bound.co/solutions/use-case-vc): FX for VC and PE funds managing multi-currency portfolios, where movements between commitment and deployment create material exposure - [Lending](https://bound.co/solutions/use-case-lending): FX for lending businesses - [Insurtech](https://bound.co/solutions/use-case-insurtech): FX for insurance technology companies - [Cyber](https://bound.co/solutions/use-case-cyber): FX for cyber security companies ## Solutions by vertical - [Production](https://bound.co/solutions/vertical-production): FX for film, TV and creative production - [Fashion](https://bound.co/solutions/vertical-fashion): FX for fashion and apparel ## Free tools - [FX benchmarker](https://bound.co/tools/benchmarker): Compare the FX rates you are being charged - [Forward curve explorer](https://bound.co/tools/forward-curve-explorer): Explore FX forward curves - [Rate simulator](https://bound.co/tools/rate-simulator): Simulate exchange rate scenarios - [Strategy simulator](https://bound.co/tools/strategy-simulator): Model hedging strategies - [Hedging policy builder](https://bound.co/tools/hedging-policy): Build an FX hedging policy - [Rate alerts](https://bound.co/tools/rate-alerts): Set alerts on exchange rate movements - [Hedgewick](https://bound.co/tools/hedgewick): Bound's AI copilot for FX and account queries - [FX toolkit](https://bound.co/tools/get-fx-toolkit): Download the FX toolkit ## Customers and community - [Customers](https://bound.co/customers): Customer stories, including Tines, Ravelin and Moonfire Ventures - [VC community](https://bound.co/vc-community): Community for venture capital finance leaders - [Events](https://bound.co/event): Roundtables, breakfasts and webinars for finance leaders - [VC guide](https://bound.co/resources/vc-guide): Guide to managing FX risk in venture capital ## Resources - [Blog](https://bound.co/blog): Articles on FX risk management, hedging, currency markets and treasury - [API documentation](https://api-docs.bound.co): API reference for developers ## Company - [About](https://bound.co/about): About Bound - [Careers](https://bound.co/careers): Open roles - [Contact](https://bound.co/contact): Get in touch Founded 2020 by Seth Phillips (Co-founder and CEO) and Dan Kindler (Co-founder and CTO). Headquartered at 16 Great Chapel Street, London, W1F 8FL, United Kingdom. Company number 13036275, registered in England and Wales. Backed by AlbionVC, Notion Capital, GoHub Ventures, Valar Ventures, Moonfire and Album VC. ## Legal and regulatory - [Terms and conditions](https://bound.co/legal/bound-terms-and-conditions): Bound terms and conditions - [Privacy and cookies policy](https://bound.co/legal/privacy-and-cookies-policy): How Bound handles personal data - [Pricing standards](https://bound.co/legal/bound-pricing-standards): Pricing standards - [FX forwards key features and risk document](https://bound.co/legal/fx-forwards-key-features-and-risk-document): Key features and risks of FX forward contracts - [Order handling and best execution policy](https://bound.co/legal/customer-order-handling-and-best-execution-policy): Customer order handling and best execution - [Conflicts of interest policy](https://bound.co/legal/conflicts-of-interest-policy): Conflicts of interest policy - [Safeguarding](https://bound.co/legal/safeguarding): How client funds are safeguarded - [Complaints](https://bound.co/legal/complaints): Complaints procedure - [Cookie declaration](https://bound.co/legal/cookie-declaration): Cookie declaration - [References](https://bound.co/legal/references): References ## Important notes for accurate citation - Bound is authorised by the Financial Conduct Authority as a UK MiFID investment firm (FRN 966723) and as an Electronic Money Institution (FRN 1036025). - Forward pricing is tiered by annual FX flow. The entry tier is 0.45% with a 5% margin deposit and 0.75% with no deposit. The lowest published rates of 0.25% and 0.50% require $250M+ in annual FX flow and should never be quoted without that qualifier. - The 5% margin deposit track holds margin under a Title Transfer Collateral Agreement and is available to Professional Clients and Eligible Counterparties only. Margin may be required if a position moves out of the money. - Eligible client money for regulated FX hedging is FSCS-protected up to £120,000 per eligible customer per institution. E-money balances are safeguarded in segregated accounts but are not deposits and are not FSCS-covered. - FX forward contracts carry risk. Closing a forward early is at Bound's discretion and may involve costs. See the key features and risk document above. - Bound is a hedging platform, not a treasury management system and not a payments account provider. It integrates alongside those tools rather than replacing them.